On behalf of the Opera fund, STAM acquires a residential building in the 3rd arrondissement of Paris. This asset is ideally located in a dynamic, sought-after district, near the place de la République. The asset comprises two buildings arranged around a shared courtyard planted with trees. It has a total surface area of around 1,500 m² for 18 units, divided into 1 retail unit and 17 apartments.
François Orliaguet, Senior Investment Manager at STAM Europe, comments: “This latest acquisition complements our portfolio of Paris assets, diversifying both the size of the apartments and their location. “We were able to convince our investors of the quality of this asset despite current market conditions. This acquisition brings our residential portfolio under management to over €350 million.”
“In line with its ESG strategy, STAM will deploy a renovation program to improve the building’s energy performance, notably via the installation of external insulation on the courtyard façade and the renovation of the apartments,” says Alexandra Vaquin, Director of Acquisitions at STAM Europe. “We are continuing to roll out the strategy of our Opera residential fund and hope to take advantage of the many opportunities on the market in the residential sector”.