Wagram, retail, Paris CBD

Rationale and achievements

This deal was sourced off-market. The fully rented retail unit was encumbered by a complex legal situation (co-ownership and multiple legal issues) and featured an aging equipment in need of refurbishment. The location, however, in the CBD of Paris, 500 meters from the Champs-Elysées and the Arc de Triomphe, with very good access to public transportation and sitting on top of a Vinci car parking is exceptional and the property was already occupied by Decathlon, a very good covenant tenant.

 

STAM cleaned legal issues with the condominium and the neighborhood, improved the property by accompanying the tenant in its refurbishment works, conducted lease renewal negotiations with Decathlon and signed a new 9-year fixed term lease with an agreement to finance further capital expenditures required in the store and finally, the unit was sold in 2015 to a long term Swiss institutional investor.

  • Location Paris 8
  • Type Retail
  • Surface 5,000 sqm
  • Acquisition date June 2005
  • Sale date December 2014
  • Value creation strategy Straightening of legal situation, refurbishment and re-gearing of the lease
  • Tenant Décathlon
  • Client STAM REI I
  • Status Realized
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