Three new European institutional investors are the latest investors to back STAM Europe’s multi-family housing fund which has raised an additional €160m.
The core and core-plus Opera Fund, which targets assets mainly in Paris and its suburbs, has received the capital commitments from the new investors as well as from existing investors, the fund’s manager STAM Europe said
In total, including bank financing, the Opera Fund has approximately €380m to deploy in residential real estate in France.
Samantha Sudre Roux, director of investor relations, said with this latest closing, the Opera Fund will have attracted a total of just over €300m in equity from nine European pension funds.
“This result, which is about 20% above our initial target, reflects a sustained appetite for the asset class among investors, but also confidence in the attractiveness of Paris as a world city and in STAM’s ability to source attractive investment opportunities and to implement its strategy,” Roux said.
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