French asset manager Stam said on Monday that it has completed the purchase of the Concerto building in the Paris inner rim on behalf of the Madeleine Fund, which is managed by Stam on behalf of German firm Helaba Invest and its partners.
Concerto, a 13,000 m2 office property, is being sold by French mutual insurer Humanis for an undisclosed amount.
Delivered in 2011, the asset is being sold vacant by owner-occupier Humanis. Stam said that it is already in contact with several potential occupiers.
