Stam Europe has increased its Highlands II portfolio with the acquisition of a 35,000 m² logistics platform in Beauvais, at the heart of the French logistics backbone and in close proximity to the Paris region. It has also revealed a new fund.
The acquired logistics complex was developed in two phases in 2008 and 2013, and is fully leased to DISPEO, the logicitcs provoider to ecommerce and the site's historical occupant and
Stam intends to improve the ICPE and ESG characteristics of the site in collaboration with the tenant, said Armand Goulet, investment manager.
LCL and La Banque Postale Asset Management financed the investment. They are existing lenders to its Highlands II portfolio held by a Luxembourg fund in which the US' Alberta Investment Management Corp (AIMCo) is the lead investor.
The Highlands II portfolio is based on a value-add strategy and comprises 200,000 m² of logistics and light industrial assets, either existing or under development, located throughout France and close to main roads or consumer catchment areas.
Stam said it is also planning the creation of a core/core+ logistics portfolio for long-term institutional investors, with an initial allocation of €75 mln, with a view to achieving high income yields.