Corestate Capital’s subsidiary Stam Europe has teamed up with Soremi to buy a 42-storey office building in France.

Stam Europe and Soremi have paid an undisclosed amount to acquire Tour Ciel, a 10,300sqm office complex in Courbevoie.

Edward Bates, the president and CEO of Stam Europe, said: “With this new acquisition, made on behalf of one of our clients, Stam continues its strategy of creating value in the office space by arbitraging market opportunities to meet sustained demand from users of medium-sized spaces.”

Julien Nessim, chairman of Soremi, said: “We are delighted with this off-market acquisition, which was completed in difficult market conditions and is perfectly in line with the group’s development strategy.”

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