Asset manager PGIM has sold a data center development site near Munich, Germany, to an unnamed European infrastructure investor. The 30MW project in Unterschleissheim has secured a building permit and regulatory approvals. PGIM’s European Value Partners II fund acquired the site in 2024. Details of the project and sale were not disclosed.
“The sale of this Munich site crystalizes the value created through securing planning consent and grid connection,” said Nabil Mabed, head of value add Europe, real estate at PGIM. “This deal also underscores our expertise in identifying the right properties in metropolitan areas and transforming them into data-center-ready developments — adding value for our investors, regional businesses, and end-users.”
PGIM is Prudential Financial’s global asset management business, managing $1.5 trillion in assets. Its real estate division manages $219 billion. PGIM Real Estate has previously partnered with Equinix on hyperscale projects and sold a California data center site to Amazon. It also previously owned US data centers with Digital Realty and acquired a development site in Melbourne earlier this year. NTT operates a data center in Unterschleißheim, while nLighten, Portus, Equinix, NorthC, and EdgeConneX also operate facilities around Munich.