Pan-European real estate private equity manager ActivumSG has, on behalf of ActivumSG Fund VI, sold a 190,000 square foot plot of land in Meco, Madrid to Pure DC.
The site sits within the Madrid-to-Barcelona transport corridor, one of Spain and Europe’s most economically significant regions. It will be home to Pure DC’s first data centre in Spain.
Madrid is considered a highly sought-after data centre market with strong supply-demand dynamics and is comparably underdeveloped relative to other major European cities such as London, Paris, Amsterdam, and Frankfurt.
ActivumSG acquired the site in July 2021 from two local manufacturing companies. The acquisition followed an extensive analysis of the Madrid Municipality Electricity Grid to identify areas that would be most suited to data centre development.
ActivumSG secured the signing of a 25 mega watt power agreement in 2022 to allow the connection of power cables from a nearby electric substation and was granted the dual feed in 2023.
Tech-Stone, a Madrid based real estate development and asset management firm involved throughout the process, will continue to manage the delivery of the scheme for Pure DC.
The transaction is ActivumSG’s first powered land sale. The manager sees further opportunity in acquiring strategically located sites where additional value can be unlocked through preparing them for data centre development before selling them to a specialist operator.
Source: Media release sent 29 July 2024