STAM has acquired a new residential property at 15 rue Laugier, in the 17th arrondissement of Paris, from a private seller and on behalf of its Opera residential property fund. This Art-Deco building, with 7 floors, has a total surface area of approximately 2,200 sqm and houses five retail units at the foot of the building.
In line with STAM’s CSR approach, actions to improve ESG performance will be carried out, notably through renovation work on the apartments and thermal insulation, as well as the implementation of services for tenants.
“This acquisition demonstrates STAM’s ability to transact in a competitive Parisian residential market and in a complicated economic environment,” said Alexandra Vaquin, Director of Acquisitions at STAM Europe. “With our expertise in value creation, we have developed a socially responsible investment strategy on our residential assets with the assistance of a specialized consultant, Green Soluce from CBRE, and remain very active in the market.”
The Opera fund, launched in December 2018 and managed by STAM France IM, is still in the deployment phase with approximately €150 million of equity remaining to be invested.
In this transaction, the Opera fund was advised by the notary firm Lasaygues, the law firm SBKG as well as by Nomad Conseil as technical advisor.
The transaction was carried out by Alex Bolton.