Garbe's logistics division, Garbe Industrial Real Estate, said on Friday that it is joining forces with NDC Data Centers to develop sustainable data centres across Europe.
The new company is being seeded with a recently established data centre in the Swedish Skellefteå as well as development sites in Frankfurt and Munich.
'With the joint venture, we consistently follow our diversification strategy, thereby creating an effective and financially sound vehicle with distinct data center and real estate competencies,' commented Christopher Garbe, CEO and shareholder of Garbe Industrial Real Estate.
'In its development of data centers, the joint venture will benefit from the well established project development knowledge of Garbe Industrial Real Estate and
the access to its landbank,' added Spyridon Linardakis, CEO and shareholder of NDC Data Centers.
Financial details were not disclosed.
NDC Data Centers is part of the AQAL Group, a multi-family office that invests in sustainability. The company aims to provide energy-efficient data centers thanks to a patented and internationally recognised technology allowing energy savings from cooling of up to 90%.
Data centres are expected to account for 10% of worldwide power consumption by 2030.
'The bundling of competencies in technology, real estate, energy market and management through a whole systems approach opens an amazing potential to not only provide ultra efficient data centers, but also deliver this fast and in a cost attractive manner,' commented Martin Wilderer, managing director strategy & development of NDC-Garbe Data Centers Europe.
The announcement comes days after Garbe unveiled plans to launch a €600 mln initial public offering (IPO) for a logistics company dubbed Logistrial, with a €768 mln seed portfolio.
The Hamburg-based company said Logistrial's 20 secured assets covered some 619,500 m2 with an approximate annual rental income of €39 mln, let to 52 tenants with an occupancy rate of 99%.
Justus Westerburg has been appointed as CEO.
The REIT, which is expected to be launched on the Frankfurt Stock Exchange by 2020, will hand asset management duties to Garbe's logistics division, Garbe Industrial Real Estate.
It is targeting a raise of between €550 mln and €605 mln in an IPO, of which Garbe Group will contribute around €55 mln.