Japan Data Facility Purchased by Mapletree Industrial Trust

The acquisition of a data center in Osaka, Japan, signifies Mapletree Industrial Trust's entrance into the Japanese data center market. This week, the manager of Mapletree Industrial Trust (MIT), Mapletree Industrial Trust Management Ltd., announced the purchase of a recently constructed data center in Osaka, Japan. It was acquired by purchasing the trust's beneficial interest for $372,8 million, financed through an amalgam of debt and equity financing proceeds. The transaction is expected to close in the third quarter of 2023.

MIT and Suma Tokutei Mokuteki Kaisha have engaged in a conditional trust beneficial interest purchase and sale agreement, and MIT will acquire a 98.47% stake in the property. On a site measuring 45,280 square feet, the data center encompasses 143,500 square feet, with 136,900 square feet of rentable space and 10 megawatts of capacity. The property has a seventy-year land tenure beginning on October 1, 2020.

The multi-story building is entirely leased to an "established data center operator" with whom MIT has an existing relationship and a 20-year lease. The first phase of the interior design was completed in November 2022, and the remaining phases will be completed in stages through May 2025. In the past year, DigitalEdge, Colt DCS, and Digital Realty have all constructed data centers in Osaka. SKYY Development also reportedly completed an Osaka facility in late 2022.

MIT owns data centers in Singapore and all over the United States. In 2021, Mapletree Investment constructed a data center in Hong Kong.