Luxembourg-based real estate investment manager Corestate Capital has agreed to acquire French peer Stam Europe.

Set up in 1997, Stam specialises in office, logistics, residential and retail assets. The firm’s staff headcount is 25.

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Stam CEO Edward Bates said: “Being part of Corestate will give our investors much greater access to European real estate products and services.

“The increasing regulatory and customer requirements in areas such as transparency, fund management and ESG can be addressed much better as part of a joined platform.”

The acquisition will add nearly €2bn in assets to Corestate’s books, taking its assets under management to €28bn.

The companies did not reveal the value of the deal, which is pending regulatory nod.

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Corestate CEO Lars Schnidrig said: “Through this acquisition, we are consistently executing our European growth strategy.

“We are significantly expanding our product range on a regional basis in the highly attractive French market and at the same time expanding it to include a new asset class with the large logistics portfolio under management we are acquiring.”

Deal completion is anticipated in the final quarter of this year.

Apart from Luxembourg, Corestate currently has a presence in 42 locations including Frankfurt, London, Madrid, Singapore and Zurich. The firm’s employee strength is about 700.

Recent real estate investment deals

Last week, AXA Investment Managers – Real Assets announced the acquisition of real estate investment trust company NorthStar Realty Europe.

Meanwhile, Sumitomo Mitsui Trust Bank and Aberdeen Standard Investments formed a real estate investment joint venture last month.