Azora and Core Capital are making the investment through a new platform called Quetta Data Centers, which will be managed by Azora, and advised by Core Capital.
On completion, the portfolio’s data capacity will exceed 60 MW and will utilize 100% renewable energy to create Iberia’s first eco-efficient network of data centres with a PUE (Power Usage Effectiveness) rating of less than 1.15.
Edge data centres represent a new category of data centres that are characterized by offering technological solutions to companies that require low latency in data processing and transmission. These data centres are located near large urban centres, close to end consumers, in order to reduce data traffic with large hyperscale data centres, which are usually located at a considerable distance from end users.
This investment marks Azora’s entry into the Iberian data centre sector, based on the conviction that this asset class will experience strong growth in demand in the coming years, driven by supportive structural tailwinds and an acceleration in how businesses and society consume data. The six assets are predominately located in Madrid, Barcelona and Lisbon.
Quetta's target customers are companies with high data traffic, such as content providers, IoT or gaming, which require low latency, i.e. very low delay times in the transmission of information packets.
Quetta will utilize a team with more than 20 years of experience in the sector alongside evolving technologies that can help to address new environmental challenges in the data centres sector.
Quetta has already begun construction of the first data centre in Madrid, located in Tres Cantos, and is in the advanced stages of negotiations to complete the acquisition of the land and the contracting of the construction of the centres.
Source: PropertyEU on 8 Feb https://propertyeu.info/Nieuws/Azora-links-up-with-Core-Capital-to-invest-500m-in-data-centres/9d589539-ea23-4b8c-a3bc-8f18d1b7f272