Freshfields advises AGC on Iron Mountain data centre JV

Freshfields advises AGC on Iron Mountain data centre JV

14 October 2020 | Natalie Bannerman

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Freshfields has advised AGC Equity Partners on the creation of a joint venture with US data centre and colocation provider, Iron Mountain.

Under the terms of the proposed deal, AGC will own of 80% of the equity interest, to develop a 280,000 square foot, 27MW, hyperscale data centre currently under development in Frankfurt.

Should the deal go ahead, once the facility is at full build, the project is expected to be completed in Q2 of 2022.

According to Freshfields the team that led the advisor service was comprised of

Partners Niko Schultz-Süchting - Real Estate, Thijs Flokstra, Frank Laudenklos - both Finance and Frank Röhling - ACT.

The counsel and principal associates was made up of Moritz Heidbuechel - Real Estate, Till Burmeister, Marius Weyers - both Corporate/M&A and Rodolfo van Vlooten - Finance.

And associates Jacqueline Päßler - Real Estate, Nicolas Sölter - Regulatory, Emelde Rubaij Bouman, Vivianne van der Hauw – both Corporate/M&A, Dennis Chinnow – Finance and Jonas von Kalben, Alexander Sekunde - both ACT.

In related news, September saw Iron Mountain signed a 6MW data centre pre-lease with a US-based Fortune 100 customer in Phoenix, Arizona.

The lease is expected to commence in the third quarter of 2021, and the company said that the data centre solution met all of the customers’ requirements, including scalable capacity, network proximity to other deployments.