STAM Europe buys 12,500 sqm of office in La Défense (Paris) for its STAM REI III Fund

 

STAM Europe has bought 12,500 sqm of office use and 211 underground car parks in the Avenue II building, located 85/93, rue des Trois Fontanot in Nanterre (La Défense business district).

This asset will benefit from an extensive renovation program in order to be back on the market at end of 2011. Total investment cost amounts to € 43.4m.

The seller was advised by Savills’ Investment Department in Paris.

The investment was financed by Natixis.

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