BNP Paribas Real Estate has announced that it has launched a new data center team in the UK, with Michael Umfreville as the lead. It will be responsible for leasing and land acquisitions. This launch is reportedly in response to REITs, institutional investors, sovereign wealth funds and infrastructure funds entering the data center investment market.
Speaking about what this move means for the company, Umfreville commented: "With data center transactions heating up across the core locations, BNPPRE will provide support and advice to our clients, whether they are well established or entering the market for the first time. We are already involved in a number of projects across the core markets within the UK, and hope to announce these in due course."
Meanwhile, Stephen Wolfe, head of commercial at BNP Paribas Real Estate said: "Investor interest in data centers has grown exponentially over the past five years or so – offering long-term income and increased security. We've been working with our clients behind the scenes on a number of high-profile deals for a prolonged period – and have taken the decision to build a dedicated and expert team to deliver and support with this. Michael is the perfect candidate to lead the team with his wealth and depth of contacts and experience."
