Principal Acquires Connecta Park in Germany

Principal Asset Management has acquired a data center complex in Düsseldorf, Germany.The site is let to a number of tenants, including Digital Realty, Colt, Pluserver, Comtrance, 1&1 Versatel, Telia, Vodafone, and Zayo. The site is also home to the DE-CIX and ECIX (Megaport) Internet exchanges.

Connecta Park is the sixth asset to be acquired for Principal European Data Centre Fund I. The fund, which raised €297 million ($339.2m) from 14 investors, is focused on manage-to-core data center assets and has acquired five assets in Barcelona, the UK, Amsterdam, Dublin, and Frankfurt.

Paul Lewis, managing director European data centers at Principal Asset Management, said: “The acquisition of this key data centre hub in Düsseldorf marks a strategic addition to Principal European Data Centre Fund I, further strengthening our presence in key European digital infrastructure markets.”

He continued: “North Rhine-Westphalia is experiencing increased demand from hyperscalers and this asset, offering access to a broad range of fibre networks and strong connectivity to the Nordics, Amsterdam, Berlin and Frankfurt, is well positioned to benefit from that trend. With a high-quality tenant mix and significant technical capability, we believe this asset will continue to attract strong occupier interest as demand accelerates.”