STAM Europe and a North American institutional investor have set-up a joint-venture partnership to invest in the logistics sector in France.
The JV will be looking to deploy approximately €250 million in the sector to form a diversified portfolio of properties in established logistics locations, mainly within the French logistics corridor. Several opportunities have already been identified and are under contract to close in the coming weeks.
The focus of the JV will be on good quality properties with some value add potential; income producing assets, lease-up opportunities and development projects. STAM Europe will act as the investment and asset manager of the joint venture.
Edward Bates, Managing Director of STAM Europe, comments: “We are delighted to welcome this new investment partner and to accompany them in their logistics’ investments. We believe that the French logistics sector still offers attractive yields at reasonable rent levels and can generate solid cash-on-cash returns for mid-to long term investors.”
Antoine de Broglie, Chairman of STAM Europe, adds: “With this new partner, STAM Europe solidifies its reputation as the logistics expert in France with approximately €500 million of logistics assets under management.”
Source: STAM