Azrieli Group acquires Green Mountain for $850 million

Israeli real-estate group, Azrieli, has announced the acquisition of Norwegian data centre owner and operator, Green Mountain, for $850 million. Azrieli has said that the purchase is a starting point for its broader European expansion

Established in 2009, Green Mountain currently operates three facilities in Norway: DC1-Stavanger, it’s flagship data centre; DC2-Telemark in Rjukan; and DC3-Oslo. The company also acquired a 50,000 sq m site in the Kalberg Valley earlier this year for a new campus.

Azrieli said that Green Mountain has existing contracts for approximately 24MW and additional development potential that could support up to 520MW.

Danna Azrieli, the company’s chairwoman said the company sees data centres as a significant new category in income-producing real estate.  “Acquiring Green Mountain is a key milestone in realizing Azrieli Group’s strategy for building international operations in the data centers sector,” she said in a statement. “The combination of the operations in North America through Compass with the acquisition of Green Mountain in Europe will allow Azrieli Group to become a significant global player in this growing and developing arena.”

The Israeli developer is helping Compass enter the Israeli market, where the two are reportedly building a data centre for AWS.

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