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Equinix, GIC complete more than US$1B European data centers JV

Equinix Inc. said it completed the more than US$1.0 billion joint venture with Singaporean wealth fund GIC Pte. Ltd. that will develop and operate data center facilities in Europe.

The partnership's initial facilities will comprise a site in Amsterdam, two sites each in London and Frankfurt, and one site in Paris.

Equinix sold its LD10 IBX facility in London to the joint venture. The portion of the facility dedicated to hyperscale deployments was rebranded LD13x xScale data center, while the remainder, which serves retail colocation deployments, will be leased by Equinix from the venture and will retain the LD10 IBX name.

The real estate investment trust also sold its Equinix PA8 IBX facility in Paris to the venture. The first phase of the facility, now called PA8x xScale, opened in the first quarter, and the second and final phase is expected to be delivered in the fourth quarter.