Transaction
Principal buys third European data center in Schiphol region
September 4, 2023
Media Contact
Director
Principal Asset Management has purchased the third data center in Europe in the Schiphol region for one of its funds, the Principal European Data Centre Fund I.
The purchased comprises a logistics facility of approximately 25,000 sqm. The complex is currently fully leased to Switch Data Centers. Tenant will convert the complex into a data center with a capacity of up to 42MW.
CBRE has a local team in the Netherlands that specializes in data centers. In cooperation with the European team in London, they advise investors, developers and users with data center related issues.
CBRE represented Principal Asset Management in the transaction.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm and a premier provider of critical infrastructure services (based on 2025 revenue). The company has more than 155,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, data center solutions); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.
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