AXA Investment Managers - Real Assets completes acquisition of €36.4 million Amsterdam data centre
AXA Investment Managers - Real Assets (“AXA IM - Real Assets”), a global leader in real assets investment and the leading(1) real estate portfolio and asset manager in Europe, announces that it has completed, on behalf of AXA Insurance Companies, the acquisition of a newly developed data center in Amsterdam for €36.4 million. The centre is fully let on a long term lease to an NYSE-listed international data centre provider. The acquisition forms part of AXA IM - Real Assets’ investment strategy in real assets aiming to diversify its investor offering and deliver attractive income-returns through its growing data centre investment portfolio.
The data centre, which comprises 16,330 sqm across two floors, is located close to Schiphol airport in Amsterdam, a leading European data centre hub. The building will provide collocation services to a number of blue-chip businesses. The best-in-class building benefits from state of the art cooling and geothermal capabilities and a robust power load. It will also benefit from its close proximity to a number of other data centre operator’s assets, as well as a significant shortage of suitable capacity in the area.
The acquisition is in line with AXA IM - Real Assets’ strategy to hold institutional quality long-term assets in the alternatives sector that aim to benefit from attractive income yield. AXA IM - Real Assets’ dedicated data centre specialist investor team now manages a primarily European portfolio valued at over €200 million. AXA IM - Real Assets’ alternatives assets platform now totals more than €3 billion of assets (as of end of September 2016) comprising healthcare facilities, hotels, forestry assets and data centres.
Hideki Kurata, Head of Alternatives & Special Situations at AXA IM - Real Assets, commented: “AXA IM - Real Assets is committed to growing its data centre exposure, due to attractive demand driven potential as well as the increasing need for data storage, as businesses look to take advantage of technological advances to drive output and efficiency.”
“The expertise of our specialist data centre team, coupled with our local knowledge of the Amsterdam market, allowed us to source this attractive investment opportunity, which we believe will produce value for our clients. This letting, on a long lease, to a European data centre provider with a growing footprint, offers strategic upside through supporting the tenant’s ongoing expansion plans whilst demonstrating our capabilities as investment professionals in the data-centre sector and wider alternatives space.”
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1 Source: IP Real Estate Top 100 Investment Management Survey – Nov/Dec 2015
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