Hong Kong: Vantage-Occupied Complex in Hong Kong Acquired For $371 Million

Apr 07, 2022 | Posted by Abdul-Rahman Oladimeji

A Vantage-occupied facility in Hong Kong has been acquired by the Asia Pacific Cities Fund (APCF). The complex acquired is located at 43 Container Port Road. It is also a fully occupied data center with a 14MW capacity across 270,000 square feet of gross floor area. The deal was worth HK$2.88 billion ($371 million). According to APCF, the deal is a one-in-a-lifetime opportunity. 

Asia Pacific Cities Fund is a part of US asset manager Nuveen. Louise Kavanagh, the chief investment officer at Nuveen, said Hong Kong is a vital technology and financial hub. He added that it is also one of the top data center markets on the continent with robust infrastructure, rich network connectivity, and healthy market fundamentals, making the investment a strategic and important one.

Interestingly, the building has been sold three times since 2015. It was sold in 2015 and 2018 for HK$1.38 billion and HK$2 billion, respectively.