French asset manager Stam Europe has acquired a portfolio of four warehouses in France on behalf of Highlands Logistics from an unnamed investor.
Financial details were not disclosed.
The 78,000 m2 Octave portfolio is composed of four class-A warehouses located in Amiens, Nanteuil in the Paris region and Avignon and is currently 86% let on long leases.
It was acquired for its Highlands Logistics joint venture, an entity controlled by affiliates of a North American institutional investor and STAM Europe.
The deal follows Stam Europe's debut deal for Highlands Logistics earlier this summer. The €250 mln investment programme is designed to capitalise on favourable supply/demand dynamics in the French logstics market. Stam is responsible for the investment and asset initiatives on behalf of the partnership.
Highlands was advised by Fairway and notary Maître Thierry Vachon.
