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Australia-based Asia Pacific Data Centre withdraws A$265M portfolio sale

After about eight months on the market and no takers, the sale of Asia Pacific Data Centre's three data centers in Australia have been withdrawn and will instead be subject to the company's growth strategies.

The properties, which make up the Australian data center developer's entire portfolio, are all leased to NextDC Ltd. and were earlier valued at A$300 million but repriced a few times to end up at A$265 million.

Asia Pacific Data Centre and NextDC have had a complicated relationship, with the tenant still calling for its landlord's winding down. Asia Pacific Data Centre, however, said in a statement that it looks forward to "a positive working relationship" with NextDC.

The decision to formally cancel the portfolio sale comes after the Supreme Court of New South Wales sided with NextDC over proposed lease agreement amendments.