Stam France IM fund makes first Paris acquisition

The Opéra residential real estate fund, managed by Stam France IM, has made its first acquisition of two residential buildings located on Boulevard Malesherbes in the 17th arrondissement of Paris from a fund managed by Swiss Life Reim, for around €110 million ($125 million).

The transaction, concerning a surface area of 10,500 square meters (113,000 square feet), anticipates the construction of new housing and the possibility of dividing certain large apartments to optimize the occupancy rate.

The Opéra fund, launched in December 2018, plans to continue investing in quality residential assets in Paris and its surrounding suburbs.