The 7.5 megavolt ampere, 45,000sqft facility in Runcorn, England, was acquired through a sale and leaseback with Dutch ICT company Getronics on a 20-year lease.
It is the second acquisition for the Principal European Data Centre Fund I, after purchasing the AtlasEdge data centre in Barcelona.
The fund focuses on what Principal terms “manage-to-core” assets and plans to allocate at least 60% of to the core European markets of Germany, Netherlands, France, UK and Ireland, with up to 40% in other European markets, such as Spain, Italy and Switzerland.
Paul Lewis, director of European data centres, real estate at Principal Global Investors, said: “Following our first acquisition in Barcelona, we have strong momentum to achieve our goals for the final close of our data centre fund and to continue executing on our acquisition plans across Europe.
“The Getronics data centre is located in a rapidly growing market that services a large metropolitan area and we look forward to a successful relationship with the Getronics team.”