By Stephen Nakrosis 
 

Equinix Inc. and PGIM Real Estate on Monday said they would form a joint venture to develop and operate two xScale data centers in Sydney, Australia.

The companies said the $575 million JV would take the form of a limited liability partnership.

The facilities involved in the joint venture, SY9x and SY10x, are expected to provide over 55 megawatts of power capacity, the companies said, adding SY9x is expected to open in the first quarter of next year.

Equinix said when combined with its existing hyperscale JVs in Europe, Asia-Pacific and the Americas, the new JV will "bring the global xScale data center portfolio to more than $7.5 billion across 34 facilities."

PGIM Real Estate is the real estate investment and financing arm of Prudential Financial's global asset management business.

 

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

October 18, 2021 17:36 ET (21:36 GMT)

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