STAM Europe, a subsidiary of real estate investment manager Corestate Capital Holding S.A., has acquired an office property complex of approximately 13,000 sqm in the city of Pantin, in the immediate proximity of the Paris ring road. This transaction constitutes the ninth asset of the Madeleine fund, a portfolio of core/core+ office properties located in Paris and its first rim.
Paris, 17 September 2020. STAM Europe, a subsidiary of real estate investment manager Corestate Capital Holding S.A., has acquired an office property complex of approximately 13,000 sqm in the city of Pantin, in the immediate proximity of the Paris ring road. This transaction constitutes the ninth asset of the Madeleine fund, a portfolio of core/core+ office properties located in Paris and its first rim.
Nils Hübener, CIO Corestate Capital Group: “In difficult markets investors are searching in particular for investments that deliver sustainable and stable returns. Especially offices in established locations and with long, secure rental contracts and flexible space solutions are currently in demand from our clients. With this acquisition STAM demonstrates its excellent access to the very attractive office market in the Paris region.”
The complex consists of two independent office buildings of approximately 5,000 sqm and 8,000 sqm, delivered in 2002 and 2003, respectively five and eight storeys high with two basement levels for parking. Both buildings are fully leased to the DVNI (a French public entity) and the Legrand Group. The two assets fit perfectly with the Madeleine fund’s strategy, with an established location, a secure rental flow and a potential for long-term value creation.
The building occupied by DVNI will provide a secure income stream, while the building currently occupied by the Legrand Group will be fully renovated by 2025, to offer a new building adapted to the future expectations of users and benefiting from the latest environmental standards. The objects are located at the foot of metro line 5 and within the main office market of Pantin, which has undergone profound changes over the last ten years, combined with reasonable rent levels for the Parisian market.
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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