STAM Europe’s multi-family housing fund has added an asset in France to its portfolio.

STAM has invested an undisclosed amount to buy the residential building in the 3rd arrondissement of Paris on behalf of the Opera fund. The asset comprises two buildings arranged around a shared courtyard.

François Orliaguet, senior investment manager at STAM Europe, said: “This latest acquisition complements our portfolio of Paris assets, diversifying both the size of the apartments and their location.”

Orliaguet said this acquisition brings the residential portfolio under management to over €350m.

Alexandra Vaquin, director of acquisitions at STAM Europe, said: “In line with its ESG strategy, STAM will deploy a renovation programme to improve the building’s energy performance, notably via the installation of external insulation on the courtyard façade and the renovation of the apartments.

“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.”

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