Mapletree Industrial Trust (MIT) has invested JPY14.5bn (€94m) in Japan to buy a mixed-use facility comprising a data centre, back office, training facilities and an adjacent accommodation wing.
MIT will effectively own 98.47% of the property in Tokyo through an agreement with seller Nagayama Tokutei Mokuteki Kaisha.
The complex, situated on 91,200sqft of land with a gross floor area of 319,300sqft, is located in Tama-shi.
Ler Lily, CEO of MIT’s manager Mapletree Logistics Trust Management, said: “The addition of a freehold property will improve the portfolio’s geographical and income diversification.
“Its strategic location in West Tokyo, a key data centre cluster in Greater Tokyo, will present a future redevelopment opportunity to a new data centre.”
She said the future redevelopment would benefit from the robust demand for data centres as well as tight supply and limited development opportunities in West Tokyo.
“Given its strategic location, the property presents a future redevelopment opportunity to a new data centre. This is in line with MIT’s portfolio rejuvenation and rebalancing efforts towards reshaping and building a portfolio of assets for higher value uses,” said the trust.
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