Asset manager PGIM has sold a German data center development site near Munich to an unnamed European infrastructure investor.

Full details on the project, the terms of the deal, and the buyer weren’t shared.

The company said the 30MW development in Greater Munich (Unterschleissheim) comes with a building permit and regulatory approvals.

PGIM’s closed-ended value-add fund European Value Partners (EVP) II acquired the site in 2024.

“The sale of this Munich site crystalizes the value created through securing planning consent and grid connection,” said Nabil Mabed, head of value add Europe, real estate at PGIM. “This deal also underscores our expertise in identifying the right properties in metropolitan areas and transforming them into data-center-ready developments — adding value for our investors, regional businesses, and end-users.”

PGIM is the global asset management business of NYSE-listed Prudential Financial, Inc., with $1.5 trillion in assets under management. The firm’s real estate business is the world’s second-largest real estate investment manager, with $219 billion in assets under management.

PGIM Real Estate has previously partnered with Equinix on a number of hyperscale developments and sold a California site earmarked for data center development to Amazon. The company previously owned a portfolio of US data centers alongside Digital Realty later sold to Menlo Equities. Earlier this year the company bought a development site in Melbourne, Australia.

NTT has a data center in Unterschleißheim that launched in 2017; nLighten, Portus, Equinix, NorthC, and EdgeConneX currently operate data centers around the Munich area.