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Axa IMRA Tokyo buy lifts global data centre portfolio to €1bn

[Photo: Ismail Enes Ayhan/Unsplash]

Axa Investment Managers – Real Assets has acquired a ¥22 billion (€180 million) data centre in Tokyo, increasing its global data centres platform to over €1 billion.

The 20,000 sq m data centre is able to house 2,560 data racks making the facility one of Tokyo’s largest. The building’s internal infrastructure was designed to incorporate state-of-the-art security features and ESG measures that lower energy consumption by 10%.

The data centre is located in Koto Ward, South Tokyo, which is 7km from the city’s main financial district, Marunouchi and Otemachi. Axa IMRA said the short distance to the CBD means the data centre can be used for both cloud services and networking purposes, and it is also close to an external power source.

In line with operational real estate strategy

Axa IMRA said the deal is in line with its strategy of investing in operational real estate assets “underpinned by strong structural drivers, such as urbanisation and e-commerce, and the strong steady cash flows they offer.”

AXA IM – Real Assets has also recently secured a c. ¥70 billion (c. €570 million) residential portfolio located in central Tokyo on behalf of its clients. It has invested ¥173 billion (€1.4 billion) through six transactions, and across the Asia Pacific region it has AUM of ¥826 billion (€6.7 billion).

Laurent Jacquemin, head of Asia-Pacific at Axa IMRA, said the latest deal offered the rare opportunity to buy a large scale strategically located data centre in a market suffering from a chronic lack of supply – there are just two other centres totalling 10,000 sq m of space in the district.