UK-based investment firm Greykite is converting a former logistics site in Warsaw, Poland, into a data center.

Greykite European Real Estate Fund I and its affiliates, alongside White Star Real Estate, this week announced the signing of a long-term lease with a “global leader in data center solutions” at its Digital Ursus site in the Polish capital.

Located in the Ursus area of western Warsaw, the companies’ Digital Ursus unit has secured increased power capacity at the 20,000 sqm (215,280 sq ft) project from the current 18MW to 65MW over the next year.

Green Street News reports the end-user is data center operator EdgeConneX, which has signed a 15-year lease. EdgeConneX, in turn, is reportedly leasing the site for use by one of the ‘five largest tech companies’ globally and is to invest hundreds of millions of euros into the project.

EdgeConneX has yet to comment on the news; DCD has reached out for more information.

Launched last year, Greykite is an independent European real estate investment firm established and headquartered in London. White Star Real Estate is an international real estate company active in Central and Eastern Europe since 1997.

Greykite and White Star launched a new €300m ($339m) Polish logistics and data center joint venture last year. The JV took over three sites in Warsaw, Gliwice, and Stryków that White Star had developed under its Diamond Business Park brand. The Ursus site was built by White Star between 2013 and 2019.

Michael Abel, founder and CEO of Grekite, said: “We are very pleased with the fast value creation that we have been able to showcase in our Digital Ursus data center project – having signed a long-term lease with a top data center operator, relocated multiple existing tenants, and increased the power to 65MW, all within a period of six months.

“From the outset, we envisioned the Digital Ursus data center conversion project with White Star as a platform for long-term, strategic investment in a sector benefiting from very compelling tailwinds. The early success of converting the Ursus property into a modern data centre hub represents a validation of that vision and a clear signal of our long-term commitment to digital infrastructure in Europe.”

Dariusz Domański, managing partner at White Star, added: “Digital Ursus is currently undergoing a dynamic transformation – from a traditional logistics park originally developed by White Star into an infrastructure-ready facility serving modern digital services. This success is the result of close cooperation between all parties and the project’s flexibility, allowing it to respond effectively to evolving market needs.”

EdgeConneX currently operates 2.5MW of capacity and 1,400 sqm (15,070 sq ft) of data center space across three facilities in Warsaw (WAW01, WAW02, WAW03) at Ul. Nowogrodzka 64a. The company entered Poland in 2018 after acquiring the local operations of Linxdatacenter.