Real estate investment trust Prologis is looking to expand its data center footprint in Europe.

The firm is looking to convert its European warehouses into data centers to generate value for its assets, according to a report from Expansión.

In Southern Europe, the company has five projects under analysis; three in France, one in Italy, and one in Spain. In Madrid, the company is considering building a 24MW data center out of an existing building.

“It’s another way of generating margins. We convert a logistics asset into a data center and sell it to a third party,” said Cristian Oller, director of operations for Southern Europe.

DCD reported earlier this month that the firm already has 1.4GW of power secured to build data centers and is in negotiations to add 1.6GW more. At the time, the company said it was planning 10GW of data centers over the next 10 years.

The company began expanding into the data center sector during the Covid-19 pandemic, often partnering with Skybox Datacenters for the builds of facilities, which are usually leased or sold to hyperscalers and data center operators.

Prologis’ data center efforts have been led by Compass co-founder Chris Curtis since last year.