The real estate developer Tishman Speyer is venturing into the data center sector with its first industrial project in Europe.
The company has signed definitive agreement with Samson AG to acquire an 807,000-square-foot location in Frankfurt for the development of a new sustainable data center facility and urban industrial and logistics hub. The planned data center campus will initially encompass approximately 32 MW of IT-load, with an eventual full build-out capacity of up to roughly 70 MW of IT-load.
Tishman Speyer also signed an agreement with Mainova WebHouse GmbH, a subsidiary of the energy supplier Mainova AG and a data center developer and operator, under which Mainova WebHouse has an option to become the firm’s joint venture partner in this project.
The company added that it had been in negotiations since January 2023 for the acquisition of the property. Tishman Speyer has been part of Germany commercial real estate sector for over 35 years.
“This project aims to bring new capacity online just as the computing power requirements of AI need it most,” said Rob Speyer, CEO of Tishman Speyer. “This is a model transaction for future investments we look to make in this growing sector.”
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