DLA Piper advises Principal on the acquisition of a data centre hub in Germany

DLA Piper has advised Principal Asset Management on the acquisition of a data centre hub in Düsseldorf, in Germany’s Rhine-Ruhr region, for its first European data centre fund.

Connecta Park spans 36,429 square metres and is let to multiple tenants, including Digital Realty, Colt, Vodafone, Pluserver, and Zayo.

The hub is the sixth asset acquired for the Principal European Data Centre Fund I, following acquisitions in Barcelona, the UK, Amsterdam, Dublin and Frankfurt. The fund already raised EUR297 million and focuses on manage-to-core data centre assets.

Principal Asset Management is the global investment solutions business for “Principal Financial Group” (Nasdaq: PFG), managing USD559.1 billion in assets. With public and private market capabilities across all asset classes, Principal Asset Management identifies investment opportunities for more than 1,100 institutional clients in over 80 markets.

The DLA Piper team was led by partner Lars Reubekeul (Real Estate, Munich) and included partner Dr Marie-Theres Rämer (Tax, Frankfurt), counsel Philipp Moser (Real Estate, Munich) and Christopher Ollech (Energy Law, Cologne), senior associate Albina Daka (Tax, Frankfurt) and associates Vincent Wehner and Sabrina Wimmer (both Real Estate, Munich).