Singapore-based Keppel DC REIT has agreed to acquire two hyperscale colocation data centers in Tokyo for $1.19 billion, expanding its Asia-Pacific footprint significantly. The two facilities serve hyperscale customers and are located in one of the world's most constrained data center markets, where land scarcity and power availability have kept vacancy rates extremely low. The deal is one of the largest single data center REIT transactions in Japan on record. Keppel DC REIT's move reflects continued institutional appetite for stabilized, hyperscale-tenanted assets in high-barrier markets.
A $1.19 billion acquisition by a listed REIT sets a pricing benchmark for hyperscale colocation assets in Tokyo and signals that capital markets remain confident in long-term data center demand despite rising interest rates. The deal's scale will influence how other REITs and institutional investors value similar assets across Asia.
Named acquirer Keppel DC REIT, a specific $1.19 billion price, Tokyo as a named market, and the hyperscale colocation designation provided strong selection signals. The transaction size ranks it among the most consequential REIT deals in Asia-Pacific data center history.