Major deal for Azrieli in London: 100 million shekels in annual revenue
The company, managed by Dana Azrieli, has signed an agreement to provide data center services in London with a capacity of 13.6 megawatts.
The Azrieli Group has secured a major deal: its subsidiary, Green Mountain, has signed an agreement to provide data center services at its active campus in East London, where expansion works are currently underway.
The agreement covers services with a capacity of 13.6 megawatts for a period of 8 years, with options for a two-year extension. The deal is expected to generate an annual net operating income (NOI) of approximately 24.9 million pounds sterling (about 101 million shekels at the current exchange rate).
The costs of the expansion, including the acquisition of land ownership rights for the campus, are estimated at approximately 230 million pounds sterling, plus financing costs of about 6 million pounds sterling. Last year, Green Mountain secured a 100 million pound financing agreement for these expansion works.
Consequently, the Azrieli Group, led by Dana Azrieli, continues to expand its data center infrastructure arm. The deal pertains to a portion of the group's active London campus, where work is ongoing to increase leasable space.
Under the terms of the agreement, service provision is scheduled to commence within 100 business days. Azrieli estimates the average annual NOI from the deal at approximately 24.9 million pounds sterling, with the client granted two 12-month extension options.
