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Asia Pacific Data Centre taps agents to commence sale of entire A$300M portfolio

Asia Pacific Data Centre, or APDC, appointed agents to commence the marketing campaign for its entire portfolio, which is estimated to fetch about A$300 million.

The listed data center operator tapped agents from Savills (NSW) Pty. Ltd. and Cushman & Wakefield to broker a deal for the properties.

The decision came after the company indicated earlier that it will carry out an independent valuation of its assets. In a news release, the company said that, according to a recently formed independent board committee, its portfolio could be worth "significantly more" than current valuations.

Selling agents for the assets arrived at the expected A$300 million amount after considering recent portfolio sales, the data center operator's triple-net lease structure and the ongoing sale of the Metronode data center business to Equinix Inc. under a nearly A$1.04 billion deal, representing a 4.73% yield.

The agents believe that a deal for APDC's entire portfolio could also be struck on a yield within that range based on an annual net income of nearly A$14.1 million, which translates to net tangible asset valuation of roughly A$2.40 per APDC security.