Helaba Invest, the asset management arm of German lender Helaba, has selected Stam Europe to launch a €350 mln commercial real estate fund.
Stam Europe and its affiliate, Stam France IM, are to set up and manage the Madeleine Fund on behalf of Helaba Invest and its strategic partners.
The open-ended commercial real estate fund has a gross investment capacity of €350 mln. It will seek to acquire office and retail assets in France, ranging between €20 mln and €50 mln, over the next two years.
The objective of the fund is to create a diversified portfolio of quality office buildings in the Paris region and city centres of Lyon, Marseille or Lille, and retail assets in established and economically sound commercial locations in France.
Based in Paris, Stam Europe is an independent investment and asset management company particularly focused on the French market. Throughout 2016, Stam acquired in excess of €400 mln in investments on behalf of joint venture partners.
Antoine de Broglie (pictured), chairman of Stam France IM and Stam Europe, commented: 'We are extremely pleased and honoured to have been selected by Helaba Invest and its strategic partners to manage this fund. This is a tribute to our capacity to create value in a very competitive environment.'
Stam France M is a portfolio management company incorporated in 2008 and registered under the French Financial Market Authority (AMF) to manage real estate collective investment vehicles (OPCI).
