Australia: Centuria to acquire 50% stake in ResetData

Australasian real estate fund manager Centuria Capital Group has announced that it has gotten into an agreement to acquire a 50 percent stake in cloud data center provider ResetData for up to $21 million as it plans to expand the group’s revenue stream into a new business line that aims to profit from the global growth in AI and data storage. 

As agreed by both companies, ResetData will enter a ten-year lease for up to 1.5MW of capacity in the Centuria-managed 818 Bourke Street located in Melbourne. Jason Huljich, co-CEO at Centuria, said: “Centuria’s investment in ResetData enables the Group to unlock value from vacancies within our office portfolio by establishing a network of Edge data centers that can service tenants as well as other businesses in proximity.”

Bass Salah and Marcel Zalloua, ResetData joint CEOs, added: “This is an exciting opportunity to partner with a leading $21 billion Australasian real estate funds manager, which provides the means to scale our new generation data center offering throughout Australia and New Zealand."