Investment firm Bouwinvest Real Estate Investors has invested $60 million (€50 million) in Sabey.
The Dutch pension fund investment manager has invested in Sabey Data Center Properties LLC (SDCP) through its parent company Sabey Corporation and investment manager National Real Estate Advisors.
SDCP says it has raised $270 million so far this year and the funds will be used to grow its portfolio.
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Sabey's green credentials attractive to eco-investor
“Bouwinvest selected the $60 million SDCP investment because of the shared institutional investor culture with National and the operational excellence, long track record and nationwide reach of SDCP, combined with the compelling nature of the deal in meeting our main strategic priorities in the US market,” said Bert van den Hoek, senior portfolio manager of North American investments at Bouwinvest.
“The data centers portfolio links to the megatrend of the digitalization of the economy and the growing importance of this emerging real estate asset class in the extension of the ‘core’ risk definition of income-producing properties.”
Hoek added the ‘deal-clinching factor’ was the sustainability aspect of the investment and the fact approximately 80 percent of the energy supply for the data center campuses in the portfolio coming from renewable hydropower.
Bouwinvest has nearly $16 billion in assets under management globally and currently holds a $1.65 billion US investment portfolio. The company recently said it was looking to expand that figure to around $2 billion over the next two years.
“The Sabey partnership with National has been key to our success in expanding our nationwide data center footprint and we are excited to begin a new relationship with Bouwinvest Real Estate Investors,” said Dave Sabey, chairman & president, Sabey Corporation. “Demand for digital capacity will continue to increase, and SDCP is dedicated to meeting that demand.”
Bouwinvest says it is focused on investing in sustainable real estate and by 2025 says half of its portfolio will consist of sustainable investments (GRESB 4 or 5-star rating).
“We are very pleased that Bouwinvest Real Estate Investors – one of the world’s most respected investors – chose National to manage its inaugural investment in the US data center sector,” said Jeffrey Kanne, president and CEO of National Real Estate Advisors. “Bouwinvest’s commitment to environmental sustainability and responsible contracting align perfectly with National and SDCP’s pursuit of long-term, healthy returns in a responsible manner.”