The facility has two existing long-term tenants, global data centre provider, Equinix and Thales, the technology security company.
Hyperco acquired the facility from TS-Yhtymä, a Finnish family office, and is located at Myllynkivenkuja 4 in Vantaa. The industrial building, located next to a power plant, totals 16, 900 sqm of leasable area, and has potential for a 6500 sqm extension.
“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," said Timo Pohjanpalo, CEO of Hyperco.
"A 10-20MW data centre could be developed to the site, and we are currently planning the extension.”
In addition, Hyperco is focused on developing assets into sustainable facilities by investing in energy efficiency, as a result, waste heat generated at the Myllykivenkuja site could be gathered and used to partly replace the fossil fuels used to heat homes in the Helsinki Metropolitan area.
The acquisition marks Hyperco’s first and the company has plans to invest in existing data centres as well as large build-to-suit developments. It plans to expand its portfolio to other Nordic countries.
“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," adds Pohjanpalo.
"Having committed and sophisticated blue-chip investors, now and in the future, support us in executing on these opportunities via hands-on work is important for us.”
Hyperco’s investors include NREP, one of the largest real estate funds in the Nordics, and Varma, one of Finland’s largest pension funds.
