Principal buys third European data center in Schiphol region
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 m2. 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.
About CBRE Group, Inc.
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 (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
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