(PARIS, FRANCE) – Hines, the international real estate firm, announced today that the Hines European Value Added Fund (HEVAF) has signed a long-term lease with Lilly France for 74,500 square feet of office space to occupy the entire Riva building in Neuilly-sur-Seine. The pharmaceutical company will move into their new headquarters in the second quarter of 2012
The Riva building, which has Haute Qualité Environnementale (HQE®) certification, is located on the Ile de Jatte in Neuilly-sur-Seine in France between the west of central Paris and La Défense.
Hines France provides leasing management services to the HEVAF, and also provided development management services for the fund for the building’s refurbishment. Designed by the French architects Carlo Maria Natale and Associates, the renovation included the addition of a large landscaped garden area surrounding the seven-story building, which is characterized by its light, practical functionality and aesthetic quality. Lilly France’s employees will benefit from a spacious restaurant opening on to the garden area, as well as rooftop terraces.
“I am committed to ensuring that this new headquarters represents an opportunity for all employees to work in a pleasant working environment, and I am confident it will give momentum to our company,” said Marcel Lechanteur, CEO Lilly France.
This lease strengthens the Hines France resumé of headquarters experience in the Paris region, having previously worked with headquarters office space for tenants including: M6TV, Havas, Prisma Presse, Vallourec, Gemalto and l’Equipe.
CB Richard Ellis represented both parties in lease negotiations. Lacourte-Balas-Raquin legally advised the HEVAF, and Herbert Smith advised Lilly France. Cushman & Wakefield provides property management services at the Riva building.
**Launched in 2005 with €287 million of equity commitments from a group of European institutional investors, the Hines European Value Added Fund (HEVAF) was at inception the second pan-European investment fund raised by Hines. The objective of the fund has been to invest in and add significant value to European real estate opportunities, principally in France, Germany, Italy, Spain and the UK.
**Lilly makes medicines that help people live longer, healthier and more active lives. Lilly was founded by Eli Lilly in 1876, and is now the 10th largest pharmaceutical company in the world. Lilly France was created in 1962 and is now the 14th largest pharmaceutical company in France.
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,147 properties representing more than 462 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments.
With offices in 108 cities in 18 countries, and controlled assets valued at approximately $23.4 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED®, ENERGY STAR®, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems.
Visit www.hines.com for more information.