Macquire DC acquires new campus in Sydney

Australia's Macquarie Data Centres this week announced that it will be acquiring its existing Macquarie Park data center campus from Singapore's Keppel DC REIT. The companies have entered into a binding agreement which will see Macquarie acquire the existing Intellicentre 2 and Intellicentre 3 East land and buildings at 17-23 Talavera Rd, Macquarie Park for AU$174 million ($111.7m). Keppel will be divesting its 100 percent freehold interest in the campus.

“The acquisition of the land and buildings at Macquarie Park gives us long-term control of the campus at a time when we are making a significant investment in expanding capacity by building IC3 SuperWest,” said David Tudehope, Macquarie Technology Group CEO. “Ownership of the land and buildings will support our plans to accelerate growth in Macquarie Data Centres. Purchasing the land and buildings also delivers on the expectations of our customer base which values our Australian ownership, data security, and our sovereign credentials.”

Loh Hwee Long, CEO of Keppel DC REIT Management, said the deal presents "a unique opportunity for Keppel DC REIT to crystallize value from its investment in Intellicentre Campus at a highly attractive premium," while continuing to earn "recurring income that mirrors the rents that we have been receiving from the asset.”