The vacant 16,600 sqm Grand Angle building, ex-Siemens HQ, was purchased from Oman’s State General Reserve Fund.
The property is scheduled to undergo a complete refurbishment to deliver high standard services and an improved energy efficiency to meet potential tenants’ requirements. An energy efficiency label will be sought for the building.
Grand Angle is located in the northern inner rim borough of Saint-Denis, next to the Saint-Denis Pleyel metro station which will become a major stop under the Grand Paris project with the planned extension of three Paris metro lines to speed up travel from Charles de Gaulle airport, the city centre and La Défense.
This transaction, one of three recently completed by Tristan Capital Partners for its opportunity funds in France, shows the investor’s interest and confidence in the French market to deliver superior risk-adjusted returns.
STAM Europe is actively seeking and pursuing similar repositioning/restructuring office investment opportunities in France at the moment, as well as high yielding portfolios of logistics and light industrial assets which offer investors attractive cash-on-cash yields.
Source : STAM