Rationale and achievements
This portfolio was sourced off-market from a bank in June 2009. The 9 assets, comprising approximately 25,000 sqm of grade-B offices and light industrial properties in Paris and the Île-de-France area, were under-managed at the time of acquisition with only a 60% occupancy rate across the portfolio but a good diversification of its tenant base.
STAM performed a light refurbishment program to enhance the buildings’ quality and facilitate the lease-up, increasing the occupancy to 80-85%. The portfolio, which generated a steady cash flow for the next 5 years, was sold in September 2015 to a long term US investor.