PGIM sells Munich data centre site

PGIM has sold a German‑powered data centre development site near Munich to a European infrastructure investor, marking the exit of an asset originally acquired in 2024.

Mabed Nabil

PGIM’s real estate business is the world’s second‑largest real estate investment manager, with US$219 billion(€190 bn) in assets under management and administration.

The 30‑megavolt ampere (MVA) development in Greater Munich’s Unterschleissheim submarket now benefits from a full building permit targeting a power usage effectiveness (PUE) of 1.2, alongside regulatory approvals under the Federal Immission Control Act (BImSCH). Securing both planning consent and grid connection formed the core of PGIM’s value‑creation strategy.

Nabil Mabed, head of value add Europe, real estate at PGIM, said the sale “crystallises the value created through securing planning consent and grid connection,” adding that the deal highlights PGIM’s ability to identify metropolitan sites and transform them into data‑centre‑ready developments. He noted that European data centre demand remains strong, driven by AI adoption and constrained by limited land and power availability.

Munich continues to be one of Germany’s most strategically important digital infrastructure locations. The city is home to seven of the 40 DAX companies, several leading universities and one of Germany’s seven national connectivity hubs, the DE‑CIX internet exchange. Long‑haul fibre routes linking Munich with eastern and southern Europe further reinforce its position as a key market for data centre investment.