Rationale and achievements
This acquisition of two buildings composed of apartments, four retail units totaling 660 sqm and a school was a rare opportunity to invest in a fantastic location in the heart of Saint-Germain-des-Prés facing the Café Flore. The deal was sourced off-market while in a complex inheritance estate situation.
The restructuring of the retail space began with the negotiation of the departure of existing retail tenants. STAM then refurbished entirely the building to upgrade the building’s standing and the apartments. The small retail units were converted into a single 660 sqm retail flagship store for Burberry and the residential apartments were sold on a unit-by-unit basis with a significant premium to the wholesale price. The school was sold to a private investor and the Burberry flagship to a long term German investor.
- Location Paris 6
- Type Mixed-use/Retail
- Surface 4,300 sqm
- Acquisition date November 2006
- Sale date June 2011
- Value creation strategy Re-structuring of the retail space, lease-up and fractional sale of the apartments
- Tenant Burberry
- Client STAM REI I
- Status Realized