Fairway advised an entity owned by subsidiaries of a North American investor and Stam Europe on the sale of a 470,000 sq.m logistic portfolio consisting of 12 assets located in France.

Stam, which was in charge of both fund management, asset management and property management of these assets, “is delighted with the result of this operation, which is the crowning accomplishment of the efforts of its teams and achieves a very attractive performance for its client partner”.

Stam valued the portfolio by implementing a development, renovation and upgrading program, renegotiating leases with existing tenants and renting vacant space. The prior sale of an asset in the fourth quarter of 2018 had rationalized the portfolio, which had a revaluated occupancy rate of 90%.

“The portfolio assets presented various challenges for our management teams after the acquisition,” says Edward Bates, Managing Director of Stam Europe. Thanks to proactive portfolio management, we manage to significantly increase the rental income, value and liquidity of the portfolio. We are pleased to be able to continue to provide asset management and property management on behalf of a new and renowned client.”