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Principal RE Buys a Data Centre in Barcelona and Completes its Second Round of Financing

The asset is leased to Atlas Edge, one of Europe's largest data centre providers, until August 2033.

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Principal Real Estate, the real estate investment team from Principal Global Investors®, has closed the purchase of the first asset for its Principal European Data Centre Fund I (the Fund) and, in addition, has announced that it has completed the second round of financing, bringing its total capital raised to 205 million euros.

A 6-megavolt ampere (MVA) data centre in Barcelona spanning an area of 10,502 square metres represents the Fund’s first purchase; it was acquired for 22.6 million euros. On this occasion, Savills represented the vendor.

Read the full article in Spanish.

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