Helaba Invest and its strategic partners have selected STAM Europe and its affiliate STAM France IM to set-up and manage an open-ended commercial real estate fund, the Madeleine Fund, focused on office and retail assets in France.
The Madeleine Fund has a gross investment capacity of €350 million to invest in properties ranging between €20 and €50 million over the next two years.
The objective of the Fund is to constitute a diversified portfolio of quality office buildings in the Paris region and city centers of Lyon, Marseille or Lille and retail assets in established and economically sound commercial locations in France.
Antoine de Broglie, Chairman of STAM France IM and STAM Europe, comments: “We are extremely pleased and honored to have been selected by Helaba Invest and its strategic partners to manage this fund. This is a tribute to our capacity to create value in a very competitive environment.”
Edward Bates, Managing Director of STAM Europe, adds: “As their French real estate partner and Asset Manager, we enlarge our investment capacity in the core office and retail markets.”