German real estate firm Aventos has sold a data center in Nuremberg to real estate investor AEW.

Built in 2010, the 2,590 sqm facility is fully leased to a global technology company under a long-term double-net lease.

Located in the Paolo business park at Von-der-Tann-Straße 31, the facility currently offers 6.4MW, but there is reportedly a possibility of future capacity increases.

Terms of the deal were not shared.

“In view of the currently very high demand for data centers on the real estate investment market, we have decided to spin off the property from our Paulo business park and sell it,” said Patrick Ibler, head of development Southern Germany at Aventos Group. “Another argument in favor of the sale was that the data center does not offer any direct added value for the other users in the business park – and therefore no problems arise from a division of ownership.”

Upon lease expiration, there is also potential for use as a multi-tenant colocation facility.

The Paulo complex was previously occupied by Siemens. Developer Investa Real Estate sold it to the Aventos Group around 2022.

Founded in 2019, Aventos is an investment manager that acquires, develops, and invests in real estate. Its projects and investments include office, retail, and industrial developments across Germany.

Last year, Aventos sold a planned data center development site in Berlin to private equity real estate firm Tristan Capital Partners.

The purchase was made by AEW Patrimoine, the real estate portfolio management company of the AEW group, a global real estate investment manager.

Antoine Barbier, head of AEW Patrimoine, said: “The acquisition of a fully let, well-connected data centre marks a strategic entry for AEW Patrimoine into the German digital infrastructure market. With established data center hubs such as Frankfurt experiencing increasing power constraints and limited land availability, Nuremberg is emerging as a compelling alternative, offering excellent connectivity and benefitting from a robust local economy.”

AEW manages €35.6bn of real estate assets in Europe and €73.4bn of total assets under management. The firm is the real estate asset management platform of Natixis Investment Managers.

Matthieu Samaran, investment director Germany at AEW Europe, added: “This marks AEW Europe’s first investment into this highly sought-after and growing asset class in the Bavarian region. The rising demand for data storage, coupled with a shortage of digital infrastructure supply, presents a timely opportunity to enter this dynamic sector. This core investment provides a strong covenant, long income visibility, and exposure to one of the most dynamic segments in real estate.”

Global real estate services provider CBRE advised Aventos on the sale alongside Greenberg Traurig.

Nadine Gelke, head of data center at CBRE in Germany, said: “This transaction underscores the continued high demand from institutional investors for data centers as an asset class. In an environment where existing data centers are scarce, high-performance regional locations outside of Frankfurt are increasingly coming into focus.”