Recently-founded Finnish real estate investment firm Hyperco has acquired its first data center - a facility in Helsinki, Finland - at a value of €35 million.
Hyperco has acquired the property from TS-Yhtymä, a Finnish family office. The industrial building, which is located at Myllynkivenkuja 4 in Vantaa, has two long-term tenants: Equinix and Thales. It is located next to a power plant, totals 16.900 square metres of leasable area, and has potential for a 6500 square metre extension.
First acquisition, more to follow
Hyperco was formed less than a year ago, and this is its first acquisition. Its investors include NREP, one of the largest real estate funds in the Nordics; and Varma, one of Finland’s largest pension funds. The company said that it plans to invest in both existing data centers as well as large build-to-suit developments in the next couple of years, both locally and in other Nordic countries.
“We see plenty of potential for development at the property as it features valid industrial zoning, plenty of unused building right, excellent fibre and electricity connections. A 10-20MW data center could be developed to the site, and we are currently planning the extension”, says the CEO of Hyperco, Timo Pohjanpalo. “We see plenty of exciting investment and development opportunities in Finland and the Nordics, particularly now, as power and land availability issues are constraining supply in other markets."
Hyperco will also focus on developing assets into sustainable facilities by investing in energy efficiency. Waste heat generated at Myllykivenkuja for instance could be used to partly replace the fossil fuels used to heat homes in the Helsinki Metropolitan area.
Hyperco at Datacenter Forum Helsinki
Want to know more about Hyperco? Then watch Ari Kurvi's presentation Where to invest next: Data centers as part of the real estate portfolio.