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Owner of Rockefeller Center invests in data centre campus in Germany

Written by Tue 14 May 2024

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The real estate firm best-known as the current owner of Rockefeller Center in New York City, Tishman Speyer, has entered the data centre market in Germany.

The company has acquired a 75,000sqm site in Frankfurt, Germany, from industrial automation firm Samson AG. Tishman reportedly plans to build a 32MW data centre on the site but could expand its capacity to 70MW in the future. The site will be developed as a joint venture between Tishman Speyer and a subsidiary of the energy firm Mainova, known as Mainova WebHouse.

The previous owner, Samson, aimed to sell the property to a buyer willing to work with the City of Frankfurt on a unified plan for the entire site, rather than dividing it for individual sale. To that end, the company has been in negotiations with Tishman Speyer for more than a year.

“Tishman Speyer was considered an ideal acquirer given its deep local knowledge, the firm has been present in Germany for over 35 years, and its first-class track record delivering state-of-the-art large-scale complex commercial development projects,” said representatives at Samson.

In addition to its traditional real estate investments, like the Rockefeller Center, Tishman counts property technology, also known as ‘proptech’, as one of its primary areas of investment.

“Proptech is transforming our business at every level to better meet the needs of our customers. From design and construction to property management and leasing, these technologies are changing how we interact with built spaces, making them better places to live, work, and play,” said Tishman.

This intersection of real estate and technology makes data centre investment a logical next step for the company.

“The successful outcome of our discussions with Samson for the future of this exceptional site opens the way for this major new development of a highly sustainable data centre and light industrial campus,” said Florian Reiff, MD at Tishman Speyer in Germany.

Reiff also expressed thanks to the company’s partners at Samson ‘for sharing our vision for this important project in a prime urban setting in support of Frankfurt’s continued vibrancy’.

The news has followed another investment from a real estate firm in the German market. Earlier this month, PGIM acquired property near Munich, Germany to develop a data centre.

This investment was made through the company’s European Value Partners (EVP) II Fund for an unspecified amount.

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Written by Tue 14 May 2024

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