Finland-based real estate investment firm Hyperco has acquired a data centre located in the Helsinki Metropolitan Area.
The site was acquired from TS-Yhtymä for a total transaction value of over €35 million.
The property, located at Myllynkivenkuja 4 in Vantaa, totals 16,900 sqm of leasable area, with potential expansion to 6,500 sqm. It currently hosts two long-term tenants – Equinix and Thales.
This is Hyperco’s first acquisition, and according to the firm, it plans to invest in both existing data centres as well as large build-to-suit developments over the next few years, with a view to expanding its portfolio to other Nordic countries.
“We see plenty of potential for development at the property as it features valid industrial zoning, plenty of unused building right, excellent fibre and electricity connections. A 10-20 MW data centre could be developed to the site, and we are currently planning the extension”, said CEO of Hyperco, Timo Pohjanpalo.
“We see plenty of exciting investment and development opportunities in Finland and the Nordics, particularly now, as power and land availability issues are constraining supply in other markets. Having committed and sophisticated blue-chip investors, now and in the future, support us in executing on these opportunities via hands-on work is important for us. “
A real estate credit fund managed by Morgan Stanley Investment Management provided senior financing for the transaction. Hyperco’s investors include NREP, one of the largest real estate funds in the Nordics, and Varma, one of Finland’s largest pension funds.