Azrieli acquires stake in data centers firm Compass for $135m.

Israeli real estate developer Azrieli Group was acquiring 20% of Compass for $135m for its first investment in the North American data centers market.Its major shareholders are Ontario Teachers’ Pension Plan and investment fund Red Bird Capital Partners. Compass has 10 active facilities and three others under construction and development. The company, Azrieli said, generates annual net operating income of $38m and is projected to grow significantly in coming years. “The market is growing significantly worldwide, and we believe it will serve as a growth engine in view of the considerable growth in the global market,” Eyal Henkin, Azrieli’s chief executive.