STAM expands its Highlands II portfolio with the acquisition of a 35,000 m² logistics platform in Beauvais, at the heart of the French logistics backbone and in close proximity to the Paris region.
“The site’s excellent accessibility, just a few hundred meters from the A16 motorway interchange, makes it a strategic location on the outskirts of Paris,” explains Alexandra Vaquin, Director of Acquisitions at STAM Europe.
The complex, developed in two phases in 2008 and 2013, is fully leased to DISPEO, the site’s historical occupant.
“The business plan includes works to improve the ICPE and ESG characteristics of the site in collaboration with the tenant,” adds Armand Goulet, Investment Manager.
The acquisition was financed by LCL and La Banque Postale Asset Management, existing lenders to the Highlands II portfolio.
STAM FIM is the manager of the Highlands II SPPPICAV, held by a Luxembourg fund in which Alberta Investment Management Corp (AIMCo) is the lead investor. The Highlands II portfolio is based on a Value-Add strategy and comprises 200,000 m² of logistics and light industrial assets, either existing or under development, located throughout France and close to main roads or consumer catchment areas.
Complementing this strategy, and drawing on its expertise in the logistics asset class (with 1 million m² under management at present), STAM Europe is planning the creation of a Core/Core+ logistics portfolio for long-term institutional investors, with an initial allocation of €75m, with a view to achieving high income yields and creating value.