Iron Mountain to buy Keppel's 10MW Frankfurt data center for €76m ($90 million)

Iron Mountain has announced it will buy Keppel’s 10MW Frankfurt data center for €76m ($90 million). The Keppel DC FRA1 facility was initially announced in 2016 and opened in 2018. Keppel also paid €76m in 2016 to acquire the facility. Keppel DC FRA1 is a two-story building with 20,000 square meters (215,278 square feet) of space. Aside from that, it is also strategically located in the AM Martinszehnten Industrial Park, next to the Frankfurt Airport.

Executive vice president and general manager of data centers at Iron Mountain, Mark Kidd, noted that the Company is excited to meet its key growth milestone with the acquisition of the facility. He further added that Frankfurt is one of the most sought-after European markets and investing in a market like that helps solidify Iron Mountain’s commitment to investing in global markets where there’s demand from customers.

Iron Mountain Press Release on July 7th, 2021:

Second data center in Frankfurt will add 10.6 megawatts to meet enterprise, edge & hyperscale customer demand in this critical global data center market

BOSTON--(BUSINESS WIRE)-- Iron Mountain Incorporated (NYSE: IRM), the global leader in innovative storage and information management services, today announced that they have entered into an agreement to acquire a data center in Frankfurt from Calcium DC Pte. Ltd. The data center is a two-story, 20,000 square meter colocation data center site on freehold land in the Am Martinszehnten Industrial Park, which is in close proximity to the city center and Frankfurt Airport. The EUR 76 million transaction is expected to close within the next 90 days subject to customary closing conditions.

The facility currently has 2.6 megawatts of leased capacity and 8 megawatts of capacity available for retail colocation customers with the option to expand in the future to add Edge computing at the premises. The data center has robust network connectivity, including access to DE-CIX, one of the world’s largest internet exchanges. The acquisition expands Iron Mountain’s presence in the Frankfurt market, which includes a 27 megawatt pre-leased facility in Frankfurt (FRA-1), and enables the company to add immediate capacity and to build out a team in a market with strong long-term demand.

“This latest investment in one of the most sought-after European markets further solidifies our commitment to invest in the global markets where our customers need us,” stated Mark Kidd, Executive Vice President and General Manager of Data Centers at Iron Mountain. “As a leading global data center provider, we are pleased to continue to meet the key growth milestones that this acquisition, and the recently announced expansion in London, represent.”

Frankfurt is a strong global data center market due to its position as one of Europe’s major commercial and financial hubs. Additionally, Frankfurt offers rich connectivity to network fabrics and service providers as well as a strong power supply.

In addition to the agreement to acquire the Frankfurt data center, Iron Mountain recently announced further expansion in Europe with a 27 megawatt data center build in London (LON-2), in addition to 9 megawatts of leasable capacity at its LON-1 data center. The Company also announced a recent joint venture with Web Werks, one of the top data center providers in India, adding three Tier 3, carrier-neutral data centers in Mumbai, Pune and Delhi to their global footprint.

“We are thrilled to be adding an additional data center in Frankfurt to our global platform as it will meet the high demand we are seeing from our enterprise, edge and hyperscale customers in the Frankfurt market,” said Eric Boonstra, Vice President and General Manager, Europe at Iron Mountain Data Centers.

Additional highlights of the acquired Frankfurt data center include:

Uptime Tier III-equivalent specifications

Enterprise & Hyperscale ready with ability to scale

Peering & Network density: carrier-neutral access to networks, leading global peering exchanges (DE-CIX on site) and the ability to connect to public-cloud on-ramps

Operational reliability & excellence

Stringent security standardsIron Mountain's global data center platform consists of 15 operational facilities across 13 markets and three continents. Including the new Frankfurt data center and the recently closed Web Werks joint venture, Iron Mountain’s data center platform can support nearly 460 megawatts of IT capacity at full build-out, including leasable capacity, land, and buildings held for future development.