STAM Europe launches new residential fund with €110m acquisition

STAM Europe, the French investment and asset management firm, has launched a new dedicated residential real estate fund with the purchase of two Paris assets for €110 million ($126 million), according to news sources. The firm did not comment on the fundraising.

The core/core-plus fund, Opera Fund, is seeking investments in residential real estate, particular in the Paris region and its suburbs. The fund has raised an initial €84 million ($96 million) and is seeking to raise between €300 million and €400 million ($344 million to $459 million) in total equity.

The fund’s acquisitions aim to offer investors with secure rental income and opportunities for creating value, as well as construction of new apartments.

STAM Europe was created in 1997 by the principals of Secured Capital (based in the United States) and Transinvest (based in France) to provide investment and asset management services to private equity real estate funds and institutional investor