PGIM has sold a German-powered data centre development site near Munich to a European infrastructure investor for an undisclosed sum.
Initially acquired by PGIM’s closed-ended value-add fund European Value Partners (EVP) II in 2024, the 30MVA development in Greater Munich (Unterschleissheim) now comes with a building permit targeting a power usage effectiveness (PUE) of 1.2 and regulatory approvals according to the Federal Immission Control Act (BImSCH).
Nabil Mabed, head of value add Europe, real estate at PGIM, said: “The sale of this Munich site crystallises the value created through securing planning consent and grid connection. This deal also underscores our expertise in identifying the right properties in metropolitan areas and transforming them into data-centre-ready developments — adding value for our investors, regional businesses, and end-users.
“The European data centre market continues to present attractive investment opportunities, characterised by strong demand driven by AI adoption and constrained supply due to scarcity of suitable land and power.”
Munich is home to several major corporations, including seven of the 40 DAX companies, as well as several of Germany’s leading universities. As Germany’s third-largest city, Munich also hosts one of Germany’s seven connectivity hubs, the DE-CIX internet exchange, and benefits from long-haul fibre routes linking Munich with eastern and southern Europe.
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