(Bloomberg) — Knowledge middle operator Data4 plans to create a brand new campus in Milan known as “Mil02” in an effort to broaden its Italian attain.
The corporate bought a 77,000-square-meter (829,000 sq. toes) parcel of land the place it can construct eight information facilities, in accordance with a press launch on Saturday. The power will probably be its second funding in Italy, after organising one other middle that’s additionally near Milan.
The brand new campus — in Vittuone, west of the town — is anticipated to be accomplished by 2027 and represents an actual property funding of €500 million ($535 million).
“For the event of our digital infrastructures in Italy, Data4 plans to speculate €1 billion between 2023 and 2029,” mentioned Data4’s nation director Davide Suppia. The corporate can also be concentrating on turnover of €800 million by 2029.
Financing for the deal comes from a €2.2 billion mortgage, extendable to €3.2 billion, in accordance with a spokesperson. BNP Paribas, Natixis, ABN AMRO and Deutsche Financial institution are the lenders. A primary tranche of €1.2 billion has been used to refinance current debt.
“We’ve got additionally already signed an possibility for an additional tranche of as much as €1 billion, which may very well be activated quickly,” CFO Claire Vandromme added.
Paris-based Data4 specializes within the design, building and administration of buildings used as information facilities in Europe. Brookfield Infrastructure purchased the agency from Axa IM in November 2023.
As soon as the second campus is operational, the corporate could have 18 information facilities in Italy and a complete energy of round 300 MW.
Italian newspaper Il Sole 24 Ore beforehand reported the funding plans.
