STAM closes a second transaction for the Opera Fund

The residential real estate fund Opéra, launched in December 2018 and managed by STAM France IM, completed its second acquisition from a private seller for a total investment of approximately €20 million. After investing in two Haussmann-style buildings on Boulevard Malesherbes totalling 10,500 m², the Opéra fund has now targeted the established residential market of Neuilly-sur-Seine. The transaction involves two residential buildings totaling 2,100 m², located at the heart of the Madeleine Michelis shopping street.

The Opera fund, which aims to invest around €500 million overall, will continue to invest in high- quality residential assets located in the French capital” explains Maud Wargny, Director of Acquisitions at STAM Europe. “The Neuilly buildings, which are 100% occupied and ideally located, offer a secure rental income and a sustainable investment to our investors.

In this transaction, the Opéra fund was advised by the notary firm Allez & Associés (Guillaume Chemithe & Alexandre Ollagnon), the law firm Fairway (Frédéric Lefebure and Cloé Teisson), and Essor AMO & CONSEIL for the technical aspects and advice related to construction projects.

The seller was advised by BNP Paribas Real Estate Conseil en Habitation et Hospitality on an exclusive mandate.

STAM France IM et STAM Europe

Based in Paris and operating for more than 20 years, STAM Europe brings together a multidisciplinary team from a variety of backgrounds and covers a wide range of asset classes and strategies adapted to the level of risk and return expected by its clients.

STAM France IM is a Portfolio Management Company approved by the AMF since 2008 and specializes in the management of OPPCIs.

STAM manages investment strategies and real estate assets on behalf of investors, in separate accounts or in the form of club deals or funds. During 2018, STAM executed approximately €750 million of transactions on behalf of its clients and partners.

Source: STAM