Rationale and achievements
Forward purchase acquisition of a 45,000 sqm, 7-storey car park near place de la Bastille in the 11th district of Paris, to be converted into a 24,000 sqm new office complex with the creation of five inter connected buildings, two courtyards and two basements. The project was developed by Credit Agricole Immobilier and delivered in February 2015. STAM oversaw the construction and developed additional features that were not part of the original plans, such as a company restaurant and an auditorium. The complex achieves high energy efficiency standards with a bioclimatic architecture.
Located near the hype neighborhoods of Bastille and Le Marais in a commercial area with a high concentration of digital and Internet companies, the entire office space was quickly leased to Publicis Groupe, the world’s third largest communications group, on a long term lease.
The property was sold in December 2015 to Oxford Properties Group.
- Location Paris 11
- Type Office
- Surface 24,000 sqm
- Acquisition date Octobre 2011
- Sale date December 2015
- Value creation strategy Re-development and lease-up
- Tenant Publicis Groupe
- Client STAM REI III
- Partner Tristan Capital Partners
- Status Realized