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Keppel Bay Tower, Singapore
Photo: Keppel Bay, Facebook/Desmond Lee
BusinessProperty
Less than 1 min.Read

Keppel DC REIT completes acquisition of two Singapore data centre buildings in S$8.4M deal

Mary Alavanza
By Mary Alavanza

SINGAPORE: Keppel DC REIT has acquired two data centre buildings, Keppel DC Singapore 7 and Keppel DC Singapore 8, from Keppel Griffin, an indirect wholly-owned subsidiary of Keppel.

Its trustee, Perpetual (Asia) Limited, exercised the call option and entered into a sale and purchase agreement with Keppel Griffin to acquire the remaining 51% of shares in Memphis 1. Memphis 1 owns both data centre buildings.

The consideration price for the acquisition was about $8.4 million, subject to completion adjustments, Singapore Business Review reported, citing the company’s bourse filing.

With the acquisition completed on Wednesday (Sept 3), Keppel DC REIT now holds 100% interest in Memphis 1 and full ownership of the two facilities. The acquisition will be funded through debt or existing cash.

The REIT said the purchase is not expected to have any material impact on its net asset value and distribution per unit for the financial year ending December 31 2025. /TISG

Read also: HPL receives green light to acquire entire Concorde Hotel and Shopping Mall strata area at S$821M

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