Keppel DC REIT and a Heeton-led consortium have made acquisitions in Dublin and Manchester, while Mapletree Logistics Trust is raising S$640 million in a private placement.
Keppel DC REIT acquires Dublin data centre
Keppel DC REIT announced on Wednesday that it has acquired its second co-location data centre in Dublin, Ireland for an aggregate consideration of 66 million euros ($101.3 million). The transaction is entirely debt-funded and will see its leverage increase to 32.4 per cent from 27.7 per cent.
The data centre has a weighted average lease expiry (WALE) of approximately 11.0 years with a lettable area of approximately 25,200 sq ft. It is 87.3 per cent leased to global internet enterprise, IT services and telecommunications clients.
It is immediately accretive to Keppel DC REIT’s distribution per unit (DPU), and is aligned with a growth strategy of acquiring quality income-producing data centre properties.
The acquisition has increased its assets under management to S$1.5 billion.
Heeton-led consortium acquired Dry Bar in Manchester
A consortium comprising Heeton Holdings, KSH Holdings and Ryobi Kiso Holdings is acquiring Dry Bar, an entertainment venue in Manchester City, with a view to redevelop the property into a boutique hotel. Financial terms of the acquisition are undisclosed.
Treasure Choice Enterprises, a joint venture (JV) between Heeton, KSH and Mchester Development, a 40%-associated company of Ryobi Kiso, will oversee the redevelopment. On completion, it will be managed by Heeton’s hospitality division, which currently manages five of the group’s other UK hotels. Heeton holds a 50 per cent effect interest in Treasure Choice, with the remaining held by KSH (25%) and Mchester Development (25%).