PGIM Real Estate acquires 30-megavolt ampere data centre development near Munich, Germany
PGIM Real Estate has acquired a property north of Munich, Germany, suitable for data centre development, on behalf of its European value-add strategy.
Bridge Development Partners LLC and PGIM Real Estate, the global real estate investment management business of Prudential Financial, Inc., have announced the launch of a $150 million national cold storage investment program, targeting $400 million in assets. This programmatic joint venture will seek value-add returns through the development of Class A cold storage facilities, as well as the acquisition and repositioning of Class A/Class B cold storage developments across the country.
As part of the joint venture agreement, Bridge Development Partners has recapitalized its Chicagoland cold storage facility, Bridge Point Northlake, with PGIM Real Estate. The facility will serve as the seed asset for the joint venture’s national cold storage portfolio.
PGIM Real Estate has acquired a property north of Munich, Germany, suitable for data centre development, on behalf of its European value-add strategy.
Equinix, Inc and PGIM Real Estate have announced the entry into a $600 million joint venture to develop and operate the first xScale data center in the U.S.
The PREA ESG Momentum award recognizes industry-leading and innovative approaches to ESG issues among real estate strategies.