Global real estate specialist Thor Equities Group has signed a contract to acquire and develop a €600 mln data centre facility in Madrid, marking the debut of the firm's new specialised division, Thor Digital.
Thor Digital, a data centres development and investment arm, will focus on building a significant portfolio in Europe, according to Thor Equities' chairman, Joseph Sitt.
Industry veteran Roy Gibbens has been appointed to lead Thor Digital and oversee expansion into new and emerging markets, with primary responsibility across EMEA.
'Thor’s decision to enter the data centre asset class is consistent with our forward-looking approach and strategy to acquire and develop high quality assets globally, beginning with "Madrid One",' Sitt said.
'As Thor’s first project in the sector, this development is representative of our commitment to build a wide-ranging portfolio in Europe and will allow us to enhance our capabilities as a developer and manager.'
As former executive director sales and marketing of Ark Data Centres, Gibbens was responsible for business development both domestically and internationally.
Before joining Ark, Gibbens served as European sales director for Digital Realty Inc; during this period, he developed the European market for this US-based REIT, working with clients across multiple verticals in the data centre space.
'We are thrilled to enter the ever-evolving data centre class with Roy Gibbens spearheading Thor Digital. Roy will play an instrumental role in sourcing opportunities in key markets globally and distinguish Thor as a leader in the industry,' said head of Thor Equities Europe, David Hunt-Cuadrado.
'Importantly, Spain has one of the most reliable energy networks in Europe whilst also benefiting from both strong fibre and network connectivity with both South America and Africa,' Cuadrado added.
The sustainability led 200,000 m2 campus in Madrid will offer phase one committed power of up to 20MW IT load, growing to over 100MW. Thor said the project was at an advanced stage of design and permitting with intent to commence construction later this year.
As part of the project Thor has selected a local team of partners, including Arnaiz, a local operating partner and specialists in land promotion and development; Quark, a Madrid-based data centre engineering company; and Frank Hassett of Global Data Center Design.