Principal acquires data centre complex in Düsseldorf

Author: Joe Peck

Principal Asset Management, a global investment management business, has acquired a key data centre complex in the Rhine-Ruhr region of Germany.

The 36,429m² complex, known as Connecta Park, is located in Düsseldorf and let to a number of tenants, including Digital Realty, Colt, Pluserver, Comtrance, 1&1 Versatel, Telia, Vodafone, and Zayo. It benefits from fibre connectivity for the Nordics, Amsterdam, Berlin, and Frankfurt and is home to the DE-CIX and ECIX (Megaport) internet exchanges.

Connecta Park is the sixth asset to be acquired for Principal European Data Centre Fund I, which raised €297 million from 14 investors and is now closed to new investors. The fund is focused on manage-to-core data centre assets and has acquired five assets in Barcelona, the UK, Amsterdam, Dublin, and Frankfurt.

Paul Lewis, Managing Director, European Data Centres at Principal Asset Management, says, “The acquisition of this key data centre hub in Düsseldorf marks a strategic addition to Principal European Data Centre Fund I, further strengthening our presence in key European digital infrastructure markets.

“North Rhine-Westphalia is experiencing increased demand from hyperscalers and this asset, offering access to a broad range of fibre networks and strong connectivity to the Nordics, Amsterdam, Berlin, and Frankfurt, is well positioned to benefit from that trend. With a high-quality tenant mix and significant technical capability, we believe this asset will continue to attract strong occupier interest as demand accelerates.”