Datacentres are all the rage right now with industrial REITs and Cromwell doesn't want to be left out. The trust is announcing an agreement with both its sponsor Cromwell Property Group and Stratus Data Centres to co-invest into two data centre projects, located in London and Frankfurt.

Stratus will be responsible for project development, leasing, design and construction.

Cromwell Property will be a cornerstone investor in the new fund, which is targeting an eventual gross asset value of over US$1 billion, with 25 per cent of the portfolio already identified by the first two strategic sites under exclusivity.