Real estate investor PGIM sold a data center development site in Munich to an unnamed buyer.

Asset manager PGIM has sold a German data center development site near Munich to an unnamed European infrastructure investor. The firm did not disclose full details regarding the project, the specific terms of the transaction, or the identity of the buyer.

The 30-megawatt development, located in Unterschleissheim within the Greater Munich region, comes with a building permit and all necessary regulatory approvals. PGIM’s closed-ended value-add fund, European Value Partners (EVP) II, originally acquired the site in 2024.

“The sale of this Munich site crystallizes the value created through securing planning consent and grid connection,” said Nabil Mabed, head of value add Europe, real estate at PGIM. “This deal also underscores our expertise in identifying the right properties in metropolitan areas and transforming them into data-center-ready developments — adding value for our investors, regional businesses, and end-users.”

PGIM is the global asset management arm of NYSE-listed Prudential Financial, Inc., which oversees $1.5 trillion in assets under management. Its real estate division ranks as the world’s second-largest real estate investment manager, managing $219 billion in assets.

In the data center sector, PGIM Real Estate has previously partnered with Equinix on multiple hyperscale projects and sold a California site designated for data center development to Amazon. The firm also formerly managed a U.S. data center portfolio alongside Digital Realty, which was later sold to Menlo Equities. Earlier this year, PGIM purchased a development site in Melbourne, Australia.

The local market remains active. NTT operates a data center in Unterschleißheim that launched in 2017, while nLighten, Portus, Equinix, NorthC, and EdgeConneX currently run facilities across the broader Munich area.