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Brookfield Infrastructure Partners has completed its purchase of U.S.-based data centre operator Cyxtera's assets for US $775 million under a court-supervised process.

Canada’s Brookfield to Purchase Cyxtera’s Data Centres for US$775M

Canada’s Brookfield Infrastructure Partners has agreed to purchase all of U.S.-based data centre operator Cyxtera’s assets for US $775 million under a court-supervised process.

As part of the deal requiring approval from the U.S. Bankruptcy Court’s New Jersey district, Toronto-based Brookfield will purchase from several landlords the real estate containing seven data centres, Cyxtera said Wednesday in a news release.

The agreement’s terms also call for Brookfield to acquire the real estate housing several Cyxtera data centres from Digital Realty Trust and Digital Core REIT. Cyxtera has also agreed to amend the terms of its current leases with Digital Realty covering three U.S. sites and three international locations, allowing Cyxtera to exit the premises in 2024.

In its quarterly report released Wednesday, Brookfield said it plans to combine Cyxtera with its existing Evoque data centre business. Brookfield said it has invested C$1.3 billion in data centres and associated real estate.

In addition, Cyxtera has agreed to sell its Montreal and Vancouver data centre business to Denver-based Cologix.

The Brookfield and Cologix acquisitions demonstrate ongoing strong investor appetite for data centres.

In September, Stack Infrastructure delivered the first phase of its Toronto data-centre campus. And, in August, Japan’s KDDI Corporation purchased a downtown Toronto data-centre portfolio from Allied REIT for $1.35 billion.


Inside The Story

Brookfield Infrastructure PartnersCyxtera

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

  • ◦Sale/Acquisition
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