STAM closed this transaction, on behalf of the residential fund Opera. This emblematic and unique asset boasts an exceptional location opposite Parc Monceau, in the 17th arrondissement, with breathtaking views over Paris. Designed in a post-Haussmann style, the 8-storey building is arranged around a planted inner courtyard. With a total area of around 10,300 m², it features all the characteristics of a luxury residential building (porch entrance, majestic staircase, period woodwork, mouldings and fireplaces).
“This building fits perfectly into the Opéra fund’s high-quality portfolio,” emphasizes François Orliaguet, Senior Investment Manager at STAM Europe. “In line with its ESG strategy, STAM will implement a renovation program to improve the building’s energy performance and the well-being of its occupants. “As a result, the asset, which is currently more than 50% vacant, will offer high-end apartments on the rental market.”
“We are delighted with this transaction, which was completed to extremely tight deadlines and demonstrates the expertise and professionalism of STAM Europe’s teams. We were able to convince both the seller of our ability to deliver and our investors that we were buying at the right price,” says Alexandra Vaquin, Director of Acquisitions at STAM Europe. “We are continuing to deploy the strategy of our Opera residential fund, with yet another exclusive transaction scheduled for the beginning of 2023.