Singapore's Keppel Data Centre (DC) REIT has acquired its second data centre in Dublin, Ireland for €66 mln, from an undisclosed vendor.
The B10 Data Centre, an energy-efficient carrier-neutral colocation data centre, has a long weighted average lease expiry (WALE) of approximately 11 years and is 87.3% leased to internet, IT and telecommunications clients.
'This asset is a strategic addition to Keppel DC REIT's portfolio given its strong tenant profile with a long WALE that provides income stability,' said Chua Hsien Yang, CEO of Keppel DC REIT Management. 'Apart from enhancing its offering in a key data centre hub, the REIT will be able to reap operational synergies from its existing data centre, Keppel DC Dublin 1.'
The facility is located within the Ballycoolin Business and Technology Park in Dublin. It started operations in 2013 and comprises around 25,200 ft2 of lettable space.
According to Keppel, the addition of the new facility will further diversify the REIT's income stream, while its portfolio WALE remains long at approximately 9.4 years. The debt-funded acquisition is immediately accretive to Keppel DC REIT's Distribution per Unit (DPU).
Listed in December 2014, Keppel DC REIT was the first pure-play data centre REIT listed in Asia on the Singpore Stock Exchange. Including this deal, the REIT's assets under management increase to approximately S$1.53 bn (€0.95 bn) across 13 data centres.
