Aug 16, 2023 | Posted by Abdul-Rahman Oladimeji
Principal Asset Management has purchased a Dutch logistics facility that will be converted into a data center. This week, the company announced the acquisition of a logistics facility for the Principal European Data Centre Fund I. The terms were not disclosed.
The acquired facility in the Schiphol neighborhood of Amsterdam is 266,460 square feet in size. Switch Datacenters plans to lease and convert it into a 42MW data center. The data center will have more than 1MW of on-site solar generation capacity and a waste heat reprocessing system for the surrounding community.
Principal Asset Management was represented in the transaction by CBRE.
