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CROMWELL AND STRATUS CLARIFY POSITION ON PROPOSED DATA CENTRES FUND
Mar 12 2021
SYDNEY, March 12, 2021 /PRNewswire/ Cromwell Property Group (Cromwell) and Stratus Data Centres (Stratus) would like to clarify the position with regards to the proposed Stratus Cromwell Data Centre Fund, conditional Heads of Agreement for which were announced in July 2020.
Cromwell confirms that it did examine the proposal in the last quarter of 2020 but was unable to commit to the project at that time.
Stratus, together with its various property partners, hyperscale tenants and other potential investors, have continued to progress with the initiative. We still believe the thematic behind the asset class will stand the test of time, said acting Cromwell CEO Michael Wilde. We have no doubt the Stratus team and their partners will be successful and we wish them well with their plans.