Keppel DC REIT has extended its portfolio weighted average lease expiry (WALE) from 9.1 years to 9.8 years with the official the induction of maincubes Data Centre.
The property’s acquisition, which was first announced in October 2015, was completed on schedule on 30 March 2018, the REIT announced on 2 April.
In addition, the triple-net lease of the property to maincubes One GmbH for an initial term of 15 years, has also commenced on the same date as the acquisition's completion, said the REIT.
Keppel DC REIT also maintains an option to renew the lease for the property for 15 more years, with three further periods of five years each.
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