Barings Secures Lease Extension With Global Data Centre Operator and Unlocks Additional 30MW Power Capacity at Stockholm Data Centre Asset

Barings, one of the world's leading alternative investment managers, has secured a 10-year lease extension with a global data centre operator at its Vanda 3 asset in Kista, Stockholm, on behalf of a European core real estate strategy, while also securing an additional 30MW of power capacity to support the site's continued evolution as a data centre hub.

The lease extension reinforces the asset's strong existing occupancy, while the newly secured power capacity, which is already in the process of being delivered to the site, represents a significant step in unlocking further data centre development and leasing opportunities.

Vanda 3 is a mixed-use asset located in Kista, in northern Stockholm's established data centre cluster, currently comprising a combination of data centre, logistics, storage and industrial uses. The asset totals approximately 65,000 sqm, with the global data centre operator occupying ca. 15,000 sqm of the space.

The newly agreed power upgrade with Ellevio will increase total capacity by a further 30MW, with infrastructure works already underway to connect the asset to the grid. This additional capacity will enable the conversion of existing buildings, including space expected to become available, as well as future development across the site. Barings is also targeting the addition of 25,000 sqm of new building rights in 2027, further enhancing the asset's long-term development potential.

Olli Forsman, Director, Transactions & Asset Management Nordics, at Barings, said: "The lease extension with the global data centre operator is a strong endorsement of Vanda 3's quality and long-term relevance as a data centre location. Alongside this, securing additional power capacity is a pivotal milestone that significantly enhances the asset's ability to support further expansion. In a market where access to power remains a key constraint, this puts us in a strong position to support both existing and new operators looking to scale in Stockholm."

capital profiles, and we will continue to explore all opportunities where we can create value on behalf of our partners."

For Barings
Ben Monteith / Charlotte Coulson (SEC Newgate)
[email protected]

Barings Real Estate
Barings Real Estate (BRE) is a part of Barings and offers a broad range of global investment opportunities across the private debt and equity investment markets. BRE invests in all major property sectors and offers an expansive range of financing solutions to real estate borrowers. Follow us on LinkedIn at linkedin.com/showcase/barings-alternative-investments.

About Barings
Barings is a $481 billion* global alternative asset manager that partners with institutional, insurance and wealth clients and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual with a minority investment from MS&AD, seeks to deliver excess returns by leveraging its global scale and capabilities across credit, real assets, capital solutions and emerging markets.

*As of March 31, 2026

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