How real estate companies should and shouldn’t do data centers?
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Real estate company Azrieli Group announced a huge deal last week whereby it will sell its 32% stake in Dallas-based Compass Data Centers to Canadian investment fund Brookfield Infrastructure Partners and the Ontario Teachers’ Pension Plan, for NIS 3.2 billion.
Azrieli Group is not alone. This is the third deal in the past year in which developers from Israel have sold stakes in companies that build data centers (and that are also active in Israel). Just last month, the Papouchado family’s Red Sea Group, which deals in the hotels and real estate business, sold the controlling stake in Serverfarm, which it set up in the US, to Canadian insurance company Manulife for over NIS 2 billion.
Read more in Globes.
