Data Center · Germany · California · Datacenter Dynamics
PGIM sells data center development site in Munich
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Asset manager PGIM has sold a German data center development site near Munich to an unnamed European infrastructure investor.
Key facts
- PGIM is the global asset management business of NYSE-listed Prudential Financial, Inc., with $1.5 trillion in assets under management
- PGIM’s closed-ended value-add fund European Value Partners (EVP) II acquired the site in 2024
- The company previously owned a portfolio of US data centers alongside Digital Realty later sold to Menlo Equities
- NTT has a data center in Unterschleißheim that launched in 2017; nLighten, Portus, Equinix, NorthC, and EdgeConneX currently operate data centers around the Munich area
Summary
Full details on the project, the terms of the deal, and the buyer weren’t shared. The company said the 30MW development in Greater Munich (Unterschleissheim) comes with a building permit and regulatory approvals. PGIM’s closed-ended value-add fund European Value Partners (EVP) II acquired the site in 2024. “The sale of this Munich site crystalizes the value created through securing planning consent and grid connection,” said Nabil Mabed, head of value add Europe, real estate at PGIM.