Helaba hires Stam Europe to invest in property sector in France
Frankfurt-based Helaba Invest and its strategic partners have chosen Stam Europe and its subsidiary Stam France IM to set up and manage the Madeleine Fund, a French real estate fund. Madeleine Fund aims to build a diversified portfolio of high-quality office and retail buildings in the Paris region and in the center of Lyon, Marseille and Lille, and businesses located in commercial areas established in France. The fund has an investment capacity of €350 million ($376 million). It will deploy its capital in investments of €20 million to €50 million ($21 million to $54 million) over a two-year period.