Link: https://links.sgx.com/1.0.0/corporate-announcements/SODH7MYMEVDD1E1V/29c3edf25359667c0c0fab47d3564b9d2f64e46440f569abb977789d515818e8

Summary:

• Transaction: Keppel DC REIT, via its trust, has completed the purchase of the remaining 51% stake in Memphis 1 (which owns Keppel DC Singapore 7 and 8 data centre buildings) from Keppel Griffin (a Keppel Corporation subsidiary).

• Ownership: Following this deal, Keppel DC REIT now fully owns (100%) both data centre properties.

• Consideration: Up to approx. S$8.4 million (includes:

  • S$6.6 million paid on completion (51% of adjusted net asset value + accrued interest on seller's notes)

  • Up to S$1.8 million extra payable if a key lease is extended 10 years)

• Valuation:

  • Combined independent valuations: S$1,055.5 million (Knight Frank: S$1,047m, Savills: S$1,064m as at 1 May 2025)

  • Agreed transaction property price (without lease extension): S$1,046.3 million

• Funding: The acquisition is funded with a mix of debt and cash and is not expected to have a material impact on FY2025 NAV or distribution per unit.

• Compliance: It's a non-discloseable, interested person transaction (aggregate value with sponsor group is below SGX thresholds).

• Strategic Rationale: Consolidates full control of major Singapore data centres, positioning Keppel DC REIT for long-term growth through expansion of strategic data centre assets.