Pan-European investment manager Corestate has completed the acquisition of French investor, Stam Europe.
French regulatory authority AMF has given its approval for the takeover, which was announced last year.
Corestate acquires €2 bn of assets in the deal, increasing its AUM to €28 bn. The company now plans to grow its micro-living activities in France and to diversify into the popular logistics segment.
Stam was founded in 1997 and focuses on office, logistics, residential and retail assets.
Lars Schnidrig, CEO of Corestate Capital Group, said: ‘We welcome the Stam Europe team as well as its clients to our group. Our clients are expecting us to be present where there are valuable investment opportunities and in doing so be able to serve them on our full-service platform.'
‘With Stam, we respond to this demand and the Corestate Group then can offer access to the highly attractive French real estate market where we see, together with Stam Europe, promising growth perspectives.
‘In addition to the regional expansion into France, we are diversifying our managed portfolio with logistics real estate, one of the asset classes with the strongest demand. Thus, we are taking the next step in our strategy of becoming a leading pan-European real estate platform.’
Edward Bates, CEO of Stam Europe, said: ‘It is a great opportunity for us to benefit from the pan-European platform and the breadth of the Corestate group.
'Crucial for us and our customers is Stam's ability to continue to operate nimbly while benefiting from the depth of Corestate's real estate platform and its professional investment, asset and property management. That's why we are delighted to become part of one of the largest and fastest growing real estate asset managers in Europe.’