Thu, May 21, 2020 – 9:01 AM

KEPPEL DC Reit has acquired a data centre tenant in the Netherlands in order to hold a direct relationship with the data centre’s sub-tenant, the real estate investment trust’s (Reit’s) manager said in a bourse filing on Thursday.

Keppel DC Reit’s indirect wholly-owned subsidiary, KDCR Almere, owns a data centre in Almere leased to private company Borchveste Almere.

Borchveste Almere’s sole business is a sub-lease with a client for the data centre.

The Reit’s manager said the acquisition will allow the Reit to hold a direct relationship with the client under the sub-lease.

The Reit’s trustee, Perpetual (Asia), on Wednesday acquired the entire issued share capital of Borchveste Almere from vendors Borchveste, Reggestaete Cybercenter, VolkerWessels Bouw & Vastgoedontwikkeling Deelnemingen, and Weshold Deelnemingen for a purchase price of one euro (S$1.55).

The purchase price, which was paid in full and in cash, took into consideration the pro forma net asset value of Borchveste Almere shares as zero euros.

The acquisition is not expected to have any material impact on the Reit’s financial performance for 2020.

In conjunction with the acquisition, Keppel Data Centres Holding – a subsidiary of the Reit’s sponsor, Keppel Telecommunications & Transportation – agreed to be responsible for the expenses in relation to Borchveste Almere.

Keppel Data Centres owns a data centre adjacent to KDCR Almere’s data centre.

Units of Keppel DC Reit closed at S$2.43 on Wednesday, down S$0.02 or 1 per cent.


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