Keppel DC REIT has sold its Kelsterbach Data Centre campus in Germany for €50m to an unrelated third party.
Built in 1989, the Kelsterbach campus, near Frankfurt Airport, consists of a five-storey data centre shell and core connected to a six-storey office building.
Keppel DC REIT will use the net sale proceeds for debt repayment.
Loh Hwee Long, CEO of Keppel DC REIT Management, Keppel DC REIT’s manager, said: “The divestment of Kelsterbach Data Centre aligns with our strategy to concentrate on the hyperscale data centre market where demand trends match Keppel DC REIT’s core competencies.”
Loh said the divestment further strengthened the resilience of the trust’s portfolio, which was firmly anchored by hyperscale clients with overall high occupancy and long weighted average lease expiry.
“Our proactive portfolio management strategy enables us to unlock value and redeploy capital into higher-yielding data centre assets, that will further optimise returns to our unitholders.”
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