Singapore's Keppel DC REIT enters Japan with $145 mln data centre purchase
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 11 2024
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Source: Yahoo Finance
- Keppel DC REIT Acquisition: Keppel DC REIT and sponsor Keppel are purchasing a data centre in Tokyo for 23.4 billion yen, marking the REIT's first Japanese acquisition.
- Discounted Purchase: The acquisition is at a 2.5% discount to the 24 billion yen valuation of Tokyo Data Centre 1.
- Growth Potential in Japan: Japan is seen as Asia's second-largest data centre hub with expected growth driven by generative artificial intelligence.
- Portfolio Strengthening: The addition of Tokyo Data Centre 1 will enhance the geographical and income diversification of Keppel DC REIT's portfolio.
- Ownership and Funding: After completion, Keppel DC REIT will own 98.47% of the data centre, with funding through yen-denominated debt.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
