Principal Asset Management has acquired a 36,429 square meters complex data centre complex in the Rhine-Ruhr region of Germany.
The asset manager has invested an unspecified amount on behalf of the Principal European Data Centre Fund I, to acquire Connecta Park in Düsseldorf and let to a number of tenants.
The Connecta Park deal is the sixth acquisition for the fund, which focuses on manage-to-core data centre assets. Fund I has already acquired five properties in Barcelona, the UK, Amsterdam, Dublin and Frankfurt.
Source: realassets.ipe.com on the 2nd of June