Rationale and achievements
Off-market opportunity to acquire an office building in a very good location, in the heart of an established office market in Montreuil (very low 3.6% vacancy rate). The asset benefits from a very good access close to Paris’ ring road and public transportation with metro lines 1 and 9 and the RER A.
The building was delivered in 2011 with a green label and all the attributes of a class-A office – including a company restaurant, an auditorium and 158 parking spaces.
The seller occupier vacated the premises and the building was purchased empty with an attractive reversionary yield prospect. STAM managed to lease 100% of the asset to BNPP within 2 months of the purchase, securing a long term attractive cash-on-cash yield for the Madeleine fund.
