Nov 20, 2024 | Posted by Abdul-Rahman Oladimeji
Keppel DC REIT this week announced the proposed acquisition of two hyperscale data centers at the Keppel Data Centre Campus in Singapore from a joint venture owned by its parent company. Keppel will continue to operate and manage the two facilities post-acquisition.
The deal would be for S$1.03 billion (US$769 m), paid for in a combination of equity (via private placement, preferential offering, and sponsor subscription) and debt.
Loh Hwee Long, CEO of Keppel DC REIT Management Pte. Ltd., said: “In Keppel DC REIT’s 10th anniversary year, we are excited to embark on this landmark deal to acquire two next-generation AI-ready data centers situated within a campus. The proposed acquisition will deliver strong positive cash flows and be immediately DPU accretive.
Loh Hwee Long, CEO of Keppel DC REIT Management Pte. Ltd., said: “In Keppel DC REIT’s 10th anniversary year, we are excited to embark on this landmark deal to acquire two next-generation AI-ready data centers situated within a campus. The proposed acquisition will deliver strong positive cash flows and be immediately DPU accretive.
"These assets will not only enhance our portfolio’s income resilience but also allow us to capture potential upside from rental uplifts and capacity expansion. Their inclusion further solidifies Keppel DC REIT’s market position as one of the largest owners of stabilized data centers in Singapore, where there is strong demand and tight supply.”
