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Keppel DC REIT has completed the purchase of a 99 percent stake in Kingsland Data Center in Jurong for $295.1 million, revealed an SGX filing on Tuesday (12 June).
The deal was carried out through an acquisition of a 99 percent stake in Kingsland Data Center Pte Ltd from Nylect Holdings, Nylect International and Kingsland Development.
Located at 13 Sunview Way, the five-storey purpose-built property has a lettable area of 98,769 sq ft. It is a network-neutral data centre, meaning it allows interconnection between multiple telecommunication carriers and co-location providers.
The acquisition was funded by a private placement announced on 7 May that raised gross proceeds of about $303.1 million.
With the deal’s completion, the property was renamed Keppel DC Singapore 5.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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