Pictet Alternative Advisors, part of the Pictet Group, has formed a partnership with Brunswick Real Estate to create a sustainable data centre platform across the Nordics.
The partnership kicks off with the signing of a deal for Vanda 3, a 63,000 m2 asset in Stockholm acquired from Bonnier Fastigheter.
The team will look to acquire existing properties as well as data centre development opportunities, and underlined that it had selected the Nordic region for a data centres initiative due to its 'natural cooling, low carbon energy mix and excellent connectivity'.
Patrik Andersson, CEO, Brunswick Real Estate, said: 'The establishment of the partnership with Pictet provides an unparalleled opportunity for Brunswick to use its local expertise in a nuanced market to deliver strong returns.
'Our active approach to managing assets through development and measurable sustainability improvements is also in line with Pictet’s value-add strategy. We look forward to working with the team as we continue to look for further acquisition and development opportunities across the Nordics.'
Over the past decade, over 200 data centres have been established in the Nordics with a number of major international technology companies developing facilities in the region including Facebook, Microsoft and Google.
Alexander Thams,head of Nordic real estate, Pictet Alternative Advisors, added:' Pictet is excited to launch its investment strategy in the Nordic region. The Nordics is of strategic importance for Pictet and we aim to deploy up to SEK 5 bn (€491 mln) in the region. Our objective is to keep growing our footprint in the data centre space following this landmark acquisition.'
Vanda 3, located in the northern suburbs of Stockholm, includes data centre, printing facilities, warehouse and offices. The partnership reported that the asset offers a number of development opportunities to add further value, and also benefits from excess heat recovery and distribution to the district heating system of Stockholm, thus reducing the carbon footprint.
Senior financing for the acquisition was provided by Helaba.