CORESTATE closes acquisition of STAM Europe: market entry into France

  • Corestate increases AUMs to EUR 28 bn
  • French market key for European expansion
  • Clients benefit from improved access to attractive French market
  • Further product diversification towards sought-after logistics real estate
  • Expanded international institutional investor base

Frankfurt, 15 January 2020. CORESTATE Capital Holding S.A. (CORESTATE), a leading independent real estate investment manager in Europe, closes today the acquisition of STAM Europe, Paris, after the French regulatory authority AMF gave its approval. CORESTATE’s assets under management (AuM) thus grow by c. EUR 2 bn to EUR 28 bn. On closing the transaction, CORESTATE will be expanding its product range, in particular its very successful micro living platform, into France. Simultaneously, the company will offer an enhanced market access to its clients as well as extending its institutional investor base.

Lars Schnidrig, CEO CORESTATE Capital Group: “We welcome the STAM Europe team as well as its clients to our Group. Our clients are expecting us to be present where there are valuable investment opportunities and in doing so be able to serve them on our full-service platform. With STAM we respond to this demand and the Corestate Group then can offer access to the highly attractive French real estate market where we see, together with STAM Europe, promising growth perspectives. In addition to the regional expansion into France, we are diversifying our managed portfolio with logistics real estate, one of the asset classes with the strongest demand. Thus, we are taking the next step in our strategy of becoming a leading pan-European real estate platform.”

Edward Bates, CEO STAM Europe, comments: “It is a great opportunity for us to benefit from the pan- European platform and the breadth of the CORESTATE Group. Crucial for us and our customers is STAM’s ability to continue to operate nimbly while benefiting from the depth of Corestate’s real estate platform and its professional investment, asset and property management. That ́s why we are delighted to become part of one of the largest and fastest growing real estate asset managers in Europe.”

The c. EUR 2 billion of AuM from international institutional clients managed by STAM Europe comprise residential, office, retail but also logistics, located in France with a focus on the key cities. The integration of STAM Europe into the group’s multi boutique platform will take place in the first quarter of 2020. STAM CEO Edward Bates will become a member of CORESTATE’s senior leadership team.

As with all previous acquisitions, CORESTATE will operate with joined teams to establish the French market as a vital part of the company’s pan-European growth story.