Rationale and achievements
This 16,500 sqm brand new office building was acquired from a listed SIIC which was forced to sell by its bank. The property, located in Clichy, a northern inner rim submarket of Paris, benefits from good access to public transportation and was fully rented at the time of acquisition to the SNCF with a 6-year fixed term lease.
STAM obtained the LEED environmental building certification and worked closely with the tenant to obtain a BREAM In-Use International certification.
STAM also re-geared the SNCF lease to increase its term (6-year firm) prior to selling the property in 2015 to a long term US investor.