Keppel DC REIT Management Pte. Ltd, manager of Keppel DC REIT, along with Keppel Ltd. have finalised an agreement to acquire a shell and core data centre in Tokyo, Japan for $201 million.

Keppel DC REIT will take a 98.47% effective interest in the property, while the remaining 1.53% stake will be held by Keppel Ltd.

The facility, Tokyo Data Centre 1, is located in the centre of Tokyo, and was completed in 2019. It is master leased to Fortune Global 500 company and hyperscaler, with a remaining lease term of around seven years.

“Our first acquisition in Japan, one of the largest and fastest growing data centre markets in Asia, demonstrates our ability to acquire quality assets in key data centre hubs,”said Loh Hwee Long, CEO of Keppel DC REIT Management.

“Japan is a core market and the addition of Tokyo Data Centre 1 will further strengthen our portfolio’s geographical, as well as income diversification.”

The acquisition of Tokyo Data Centre 1 is estimated to be completed in the third quarter of 2024.