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Keppel DC REIT Strengthens Portfolio With Two Data Centres In Guangdong, China

June 22, 2022 – Keppel DC REIT has entered into agreements with Guangdong Bluesea Data Development Co. Ltd. (Bluesea) and its parent company, Guangdong Bluesea Mobile Development Co. Ltd., to acquire two data centre facilities, on a fully-fitted basis, in Jiangmen, Guangdong Province, for RMB 1,380.6 million (approximately S$297.1 million) (US$214.2 million).  

The two transactions follow the acquisition of Guangdong Data Centre, Keppel DC REIT’s first acquisition in China, announced in July 2021. Following the completion of the latest transactions, Keppel DC REIT will own 62.9% of its assets in Asia. 

The two data centre facilities will be named Guangdong Data Centre 2 and Guangdong Data Centre 3 (Guangdong DC 2 and Guangdong DC 3) respectively upon completion of the acquisition.

Guangdong DC 2 is fully-fitted and payment will be made in full at legal completion. Guangdong DC 3 will be fitted out, with its expected completion to take place by the third quarter of 2023. While partial payment will be made for Guangdong DC 3, Bluesea will pay Keppel DC REIT rent for the building shell and an interest on the partial payment, with the remainder to be paid when the fit-out works are completed. The properties will be leased to Bluesea on a triple net basis for 15 years. 

With the acquisition of Guangdong DC 2 and Guangdong DC 3, Keppel DC REIT will have an expanded portfolio of 23 quality data centres across Asia Pacific and Europe, three of which are in China.

Read more here..

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