Keppel DC REIT to divest iseek Data Centre for around A$35M

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Keppel DC REIT plans to divest the iseek Data Centre in Brisbane, Australia, to iseek Pty. Ltd. for A$34.5 million, or around S$35.3 million, the REIT said in a filing to SGX Friday.

“The divestment is in line with Keppel DC REIT’s strategy to continually review and selectively consider divestments to ensure an optimal portfolio mix,” the REIT said in the statement.

The REIT said iseek had an option to purchase the data center, which it chose to exercise Friday.

The latest valuation of the leasehold property as of end-June by Cushman & Wakefield (Valuations) put the market value at A$34 million, or around S$34.8 million, the filing said.