MAPLETREE ALSO COMPLETES PURCHASE OF 29 DC PROPERTIES
Digital infrastructure REIT DigitalBridge Group, Inc., has just announced its acquisition of the data center business of Hong Kong-based telecom services provider PCCW Ltd.
In a transaction worth $750 million, PCCW will be handing over its data center businesses or subsidiaries in Hong Kong and Malaysia – Powerbase HK and DC Malaysia, these assets will be merged into a single entity for the purpose of this transactions.
“As an experienced investor in the global data center sector, DigitalBridge’s expertise investing in, building, and operating data centers to the highest standards aligns perfectly with PCCW DC’s next stage of development,” said Marc Ganzi, President and CEO of DigitalBridge.
“They are already a leading operator in the region and are poised for significant growth, with a strong development pipeline and considerable expansion capacity. This is a terrific platform for DigitalBridge to expand its regional presence while supporting a strong management team focused on serving many of the same hyperscale and large enterprise customers that DigitalBridge works with on a global basis.”
DigitalBridge became an investment management company of Colony Capital, after it was acquired in 2019 for $325 million.
For the PCCW acquisition transaction, DigitalBridge is leveraging funds affiliated with its investment management platform and expects the deal to close in the fourth quarter of 2021, subject to customary closing conditions.
Update on another Acquisition
Sila Realty Trust, Inc., has also announced the closing of sale of 29-Property data center portfolio to wholly owned subsidiaries of Mapletree Industrial Trust (MIT) for an aggregate price of $1.3 billion (USD).
“We are pleased to announce the completion of the Transaction with MIT. The sale of the data center Portfolio represents a substantial gain for the Company and firmly positions Sila Realty Trust, Inc. as a pure-play healthcare REIT.” Said Michael A. Seton, Chief Executive Officer and President of Sila Realty Trust.
“We believe that our strong healthcare portfolio, diversified by geography and tenancy, coupled with our fortress-like balance sheet composed of significant net worth, low leverage and ample liquidity for growth opportunities and further diversification of the portfolio, will enhance the overall strength and position of the Company for a liquidity event through a public market listing, subject to, among other considerations, market conditions, within the time frame communicated during our offering.”
Similar to PCCW transaction, Sila Realty Trust has just sold-out the entirety of its data center properties and portfolio.