The transaction means that Macquarie will become the owners of the land and buildings that it was previously renting from Keppel DC REIT, an investment vehicle listed on the Singapore Stock Exchange.
The data centres effected by the transaction are the IC 2 and 3 East data centres at the campus in Sydney’s North Zone. The entire campus provides 63MW of compute capacity.
“The acquistion of the land and buildigns at Macquarie Park gives us long-term control of the campus at a time when we are making a significant investment in expanding capacity by building IC3 SuperWest,” Macquarie Data Centres CEO David Tudehope said in the filing.
Tudehope added that ownership of the land and buildings will support the businesses plans to accelerate growth and deliver on the expectations of its customer base, which values its Australian ownership, data security and sovereign credentials.
The statement goes on to say the acquisition enables Macquarie to continue to capitalise on fast growing cloud computing and AI trends that are exponentially increasing demand for data centres.
IC3 Superwest is already expanding the campus, and is expected to be completed in Q3 2026, after site design was approved in January this year and construction commenced one month later.
Macquarie Data Centres already owns all mechanical and electrical plant and fit out at IC2 and IC3.
Settlement of the purchase is expected in the second half of this year. It will be partly funded by a A$90 million loan note that will be issued to Keepel DC REIT.
