Keppel DC REIT divests interest in German data centre

The transaction is based on an all-cash offer of $70.6m (EUR50m).

Keppel DC REIT Management has entered into a sale and purchase agreement to divest 100% of its freehold interest in Kelsterbach Data Centre in Frankfurt, Germany.

The transaction is based on an all-cash offer of $70.6m (EUR50m) from an unrelated third party to be completed in H1 2025.

“The divestment of Kelsterbach Data Centre aligns with our strategy to concentrate on the hyperscale data centre market,” Loh Hwee Long, CEO of Keppel DC REIT Management, said.

Constructed in 1989, the property comprises a five-storey shell and core data centre, and a six-storey office block.

Following the divestment, the company’s portfolio occupancy will remain high at 96.6%, whilst the weighted average lease expiry by lettable area will improve from 6.3 years to 7.4 years.

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