Keppel DC REIT sells iseek data center in Brisbane, Australia for AU$34.5 million

Sep 01, 2021 | Posted by AbdulRahmanOladimeji

Keppel DC REIT has completed the sale of its iseek-operated data center in Brisbane, Australia. Amber Infrastructure Group first acquired the majority stake in iseek in June. In July, Keppel announced that it had granted the Australian data center company iseek the option to purchase its 100% interest in the iseek data center in Brisbane for AU$34.5 million (US$25.3m). Keppel says the price it set is 21.5% above the asset’s historical cost at Initial Public Offering (IPO).

Keppel revealed that iseek had taken up the option to acquire the Brisbane property. The Company said the option was negotiated with iseek’s long lease renewal, which aligns with Keppel’s strategy of constantly reviewing its divestments to ensure it has an optimal portfolio mix. The Brisbane-based iseek data center was established in 2000. It also offers connectivity and cloud services from five data centers across Brisbane, Sydney, and Northern Queensland.

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