SINGAPORE (THE BUSINESS TIMES) - Cromwell European Real Estate Investment Trust (Cromwell E-Reit) has signed a heads of terms agreement with its sponsor and Stratus Data Centres, to co-invest directly into 50 per cent stakes in two European data centre projects, subject to various milestones.. Read more at straitstimes.com.
SINGAPORE - Cromwell European Real Estate Investment Trust has signed a heads of terms agreement with its sponsor and Stratus Data Centres, to co-invest directly into 50 per cent stakes in two European data centre projects, subject to various milestones.
The second, larger project is on a 34 acre site serving Frankfurt. It is a multi-stage 300MW project with advanced pre-leasing agreements and planning processes underway. Stratus is a member of private equity real estate investment group EXS Capital, which has offices in Hong Kong, Singapore and the Cayman Islands.
Simon Garing, chief executive of Cromwell E-Reit's manager, said:"Data centres are a natural fit with our existing investment strategy and portfolio composition, and we expect to realise attractive risk-adjusted returns for Cromwell E-Reit unitholders from the partnership.
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