Rationale and achievements
This portfolio of four, to be developed, grade-A logistics warehouses was acquired from Prd, the leading logistics developer in France. All four locations are strong logistics markets with positive demand / supply dynamics.
STAM negotiated the construction management contracts with the developer and monitors the construction works while in parallel organizing and supervising the pre-marketing of the assets during construction. As of December 2018, the portfolio was already pre-let at 52% prior to delivery.
The asset in Angers, a 42,200 sqm grade-A warehouse, has been fully let to XPO five month prior to delivery through a long term lease, resulting in a significant value creation.