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Stam Europe buys 2 Paris properties worth €110M for new French residential fund

French investment group Stam Europe seeded its newly launched multifamily housing Opera Fund with two assets valued at €110 million, IPE Real Assets reported, citing Antoine de Broglie, chairman of Stam France IM and Stam Europe.

The properties, located in the 17th arrondissement of Paris, were purchased in December 2018.

Institutional investors have committed an initial €84 million to the core and core-plus fund, which is seeking to raise between €300 million and €400 million, the publication added.