Israeli Real Estate Company Azrieli Group Enters Data Center Market

Tel Aviv-based real estate and holding company Azrieli Group Ltd., through its fully owned subsidiary Azrieli Data Centers LLC, has acquired a 20% stake in Delaware-based data center company Compass Holdco LLC for about $135 million, the former announced in a filing with the Tel Aviv Stock Exchange Thursday.

According to the agreement, Azrieli will have the option to acquire up to 33% of Compass Holdco by December of this year for the same price per share.