Highlands Logistics, an entity controlled by affiliates of a North American institutional investor and STAM Europe, has acquired a 40,000 sqm grade-A logistics warehouse located in Combs-la-Ville within the Parisud logistics park, 30 km south east of Paris.
The asset is in good condition and fully-let to Leroy Merlin, one of the leading French DIY retail players at a moderate rent compared to ERV.
STAM Europe will be responsible for the investment and asset management initiatives on behalf of the partnership.
With this acquisition Highlands initiates its €250 million investment program to capitalize on the favorable supply/demand dynamics of the French logistics market.
Source: STAM