STAM finalises the acquisition of the Concerto building in the Paris inner rim on behalf of the Madeleine Fund

Concerto, a 13,000 sqm office property, leaves the Humanis portfolio to supplement the portfolio of the Madeleine Fund which is managed by STAM France IM on behalf of Helaba Invest and its strategic partners.

The asset, which was delivered in 2011, benefits from a high energy performance, a flexible and efficient layout, multiple services such as a restaurant, a cafeteria and an auditorium, as well as 158 underground parking spaces.

Ideally located, at the heart of the established tertiary market of Montreuil and in proximity of the metro (lines 1 and 9) and the RER A, Concerto is also easily accessible by car from the Paris ring road.

Humanis, the previous owner-occupier, has vacated the building at the end of December and STAM is already in contact with several potential tenants to lease-up the building.

In this transaction, buyer and seller were respectively advised by Maître Thierry Vachon and Maître Jean Labrousse, notaries.

Source: STAM