Tishman Speyer is embarking on its first European industrial development project with the construction of a data centre and urban logistics hub in Germany.
The real estate investment firm, investing on behalf of its Tishman Speyer European Real Estate Venture IX (TSEV IX) fund, has agreed to acquire a 75,000sqm location in Frankfurt from Samson AG for the mixed-use campus.
As previously reported, the value-add TSEV IX fund is seeking to raise €1bn.
The proposed data centre campus in the Frankfurt Osthafen area, comprises an initial 32MW of IT-load, with an eventual full build-out capacity of up to 70MW of IT-load. The project masterplan also includes a light industrial element with multiple buildings including a self-storage facility and craftsmen’s yards.
Financial details of the transaction were undisclosed.
Tishman Speyer said it has partnered with Frankfurt-based data centre specialist Mainova WebHouse on a potential joint venture for this project.
Florian Reiff, managing director of Tishman Speyer’s business in Germany, said: “The successful outcome of our discussions with Samson for the future of this exceptional site opens the way for this major new development of a highly sustainable data centre and light industrial campus.”
Rob Speyer, CEO of Tishman Speyer, said: “This project aims to bring new capacity online just as the computing power requirements of AI need it most. This is a model transaction for future investments we look to make in this growing sector.”
Oliver Schiebel, CEO of Mainova WebHouse said: “We are looking forward to this joint opportunity of bringing sustainable data centres to a location where they are needed most.
“Our most sustainable design which already exceeds all the requirements of the latest renewable energy act will be taken to the next level at this location, delivering significant waste heat capacity to Mainova’s district heating grid, for the people and businesses in the east of Frankfurt to benefit from carbon neutral district heat.”
Dominic Deller, member of the executive board and CFO of Samson, said: “The sale of this second major part of our historic site in Frankfurt is another important milestone in the transformation of our company.
”We are pleased that the site was sold to a long-established Frankfurt company that will be working closely with the city of Frankfurt to retain jobs in Frankfurt’s East harbour district by investing in future technologies that are essential for the digitalisation of the German economy.”
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