In September 2015, Northwood acquired the STAM Portfolio, a portfolio comprised of 15 income-producing office and industrial assets aggregating 940,000 square feet, with 82% of the total value located in Paris and the Greater Paris Area.
The largest asset in the Portfolio was Clichy Urbia, a 178,000 square foot office building in Paris that was delivered in 2009 and fully-leased to SNCF, the national French railway company, on a long-term lease. The other major asset within the Portfolio was Beychac, a newly-built 318,000 square foot logistic asset near Bordeaux that was fully-leased on a long-term lease to Carrefour, one of the largest retailers of the world. These two assets collectively comprise the bulk of the total portfolio value. The remaining assets in the portfolio consisted of high yielding and liquid office and industrial assets in the Greater Paris Area and select regional French markets.
Investment Period: September 2015 – December 2018
