15th October 2024: Leading pan-European real estate private equity manager ActivumSG has on behalf of ActivumSG Fund VII, announced the sale of a prime powered land site in Madrid, Spain, to EDGNEX, the data centre arm of DAMAC Group. The total investment by DAMAC Group to deliver a data centre on the site will exceed €400 million.
Located 15km from Madrid's city centre, the asset is in the fastest-growing data centre market outside the ‘FLAPD’ (Frankfurt, London, Amsterdam, Paris and Dublin) Western European data centre investment hotspots. The site occupies one of the few remaining plots of land in Madrid that can be connected to a power source of the level required to fuel sizeable data centre operations feasibly. After securing the 240,000 sq. ft site in 2022, ActivumSG leveraged its in-country expertise to confirm power rights for 40MW ahead of the acquisition. Highly favourable terms were negotiated with the supplier that guarantee 10MW immediately, with an additional 30MW by Q1 2026, while incorporating significant power infrastructure.
Source: press release sent 15 Oct 2024