STAM Europe and a North American institutional investor launch their second investment program in the logistics and light industrial sectors in France in the form of a joint venture – Highlands II. The objective of the partnership is to deploy approximately €250 million to create a diversified portfolio of logistics and light industrial assets in established and mainly urban areas.
Paris, July 29, 2020. – STAM Europe, a subsidiary of real estate investment manager Corestate Capital Holding S.A., and a North American institutional investor launch their second investment program in the logistics and light industrial sectors in France in the form of a joint venture – Highlands II. The objective of the partnership is to deploy approximately €250 million to create a diversified portfolio of logistics and light industrial assets in established and mainly urban areas.
Lars Schnidrig, CEO of Corestate: “Logistic real estate is currently one of the most sought-after asset classes. With the acquisition of the first property and its already well-filled deal pipeline, STAM once again demonstrates its excellent access to the very attractive French real estate market.”
The targeted assets should offer the potential to add value, either through rental reversion or through the implementation of CAPEX programs. The strategy will target existing and leased assets as well as development projects with leasing risk in attractive areas. STAM Europe will act as Investment and Asset Manager on behalf of the joint venture.
Edward Bates, CEO of STAM Europe: “We are pleased to deploy this new strategy with our North American institutional partner. We are convinced that the logistics sector, and particularly urban logistics, presents opportunities and value creation potential that we wish to capture in order to generate strong cash-on-cash and attractive returns for the risk taken.”
As part of this new strategy, Highlands II finalized the acquisition of a 62,000 sqm logistics platform fully leased to Renault in Basse Ham in eastern France from AXA IM – Real Assets acting on behalf of their clients. The joint venture carries on its investment program with approximately €125 million of investment opportunities now under exclusivity.
About CORESTATE Capital
CORESTATE is an investment manager and co-investor with around € 28 billion in assets under management. The company sees itself as a manager for the entire length of the real estate value chain. Thanks to its fully integrated real estate platform, it is able to offer investors a wide range of services, especially the opportunity to invest in large-scale societal trends such as urbanisation, demographic shifts or sustainability – trends that will continue to have a decisive influence on the living and working environment in the long term. The consistent focus on asset classes that will be successful in the long run constitutes a central cornerstone of the company strategy. At CORESTATE, all concepts are supported with ESG expertise that is unique to the industry. With some 800 experts, CORESTATE offers clients and investors a full range of services and consultation from a single source, from project financing and real estate management to sales. CORESTATE is listed on the Frankfurt Stock Exchange (SDAX) and operates as a respected business partner for institutional and semi-institutional investors as well as high-net-worth private investors in 13 countries across Europe, with offices in Frankfurt, Vienna, Zurich, Paris, Madrid and London.
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