Principal Asset Management has acquired a 36,429sqm complex data centre complex in the Rhine-Ruhr region of Germany.
The asset manager has invested an unspecified amount on behalf of the Principal European Data Centre Fund I, to acquire Connecta Park in Düsseldorf and let to a number of tenants.
The Connecta Park deal is the sixth acquisition for the fund, which focuses on manage-to-core data centre assets. Fund I has already acquired five properties in Barcelona, the UK, Amsterdam, Dublin and Frankfurt.
Paul Lewis, managing director European data centres at Principal Asset Management, said: “The acquisition of this key data centre hub in Düsseldorf marks a strategic addition to Principal European Data Centre Fund I, further strengthening our presence in key European digital infrastructure markets.
“North Rhine-Westphalia is experiencing increased demand from hyperscalers and this asset, offering access to a broad range of fibre networks and strong connectivity to the Nordics, Amsterdam, Berlin and Frankfurt, is well positioned to benefit from that trend.
“With a high-quality tenant mix and significant technical capability, we believe this asset will continue to attract strong occupier interest as demand accelerates.”
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