Vodafone: Principal buys a pair of telco-occupied facilities in Dublin, Ireland

Principal Asset Management bought two data centers located in Dublin, Ireland, that are leased. Principal European Data Centre Fund I has made its fourth and fifth investments in Europe, this time in the capital of Ireland, according to IPE Real Assets and PropertyEU. The company has acquired two facilities on the Willsborough Industrial Estate in Clonshaugh for $10.74 million. The buildings, which cover 81,480 square feet, are leased to Verizon and Vodafone.

Principal Asset Management was represented in the transaction by CBRE, while Savills represented the sellers.

Principal Real Estate began investing in data centers in 2007 and has invested more than $1 billion in data center acquisitions and development, in addition to owning more than $1.1 billion in data center REITs. The company concluded its first dedicated U.S. data center fund in 2021.