(PARIS) - Hines, the international real estate firm, on behalf of Bayerische Versorgungskammer (BVK), has signed a lease with The European Parliament to welcome ‘Europa Experience’, a space open to the public, at 28 Madeleine in the 8th arrondissement of Paris.
Hines, who acquired the space vacated by the Pinacothèque de Paris art gallery on behalf of the BVK fund, is revamping 1,500 square meters, spread over three levels which open onto the square. The façade is being replaced and interior works are underway to prepare for the arrival of The European Parliament, which has leased the space in its entirety under a long-term lease to establish an innovative space which will be open to the public.
Opposite the church of the same name, 28 Madeleine, is set around a covered, paved interior courtyard, and stands on one of the most famous squares in Paris.
“We are obviously delighted to have fully leased the asset, and with France preparing to hold the presidency of the Council of the European Union, we are especially thrilled for Paris to be hosting the new ‘Europa Experience’ exhibition, developed by The European Parliament, which will be open to the public. 28 Madeleine is clearly retaining its credentials as an attractive Parisian address, open to as many people as possible.” said Xavier Musseau, senior managing director and head of France at Hines. “Once the ambitious renovation led by our teams has been completed, the future 28 Madeleine will cement its status as a destination of choice.”
The European Parliament’s ‘Europa Experience’ project will move into 28 Madeleine in Paris in 2022. The ‘Europa Experience - Paris’ space will give the public the chance to embark on a European adventure via multimedia tours and interactive tools. The objective will be to discover more about how the European Union works and its role in the everyday lives of Europeans, taking inspiration from exhibitions in the ‘Parlementarium’ in Brussels - which has attracted numerous visitors.
‘Europa Experience’ spaces have already been established in the headquarters of The European Parliament in Strasbourg, and also in several other major European cities including Berlin, Copenhagen, Helsinki, Tallinn and Ljubljana. This noteworthy educational initiative will be free to visit, and commentary will be available in the 24 official languages of the European Union. The different spaces at 28 Madeleine will house an interactive section comprising multimedia points on the ground floor and basement level 1, with a 360° cinema, and the mezzanine level will be devoted to young visitors aged 14 years and over, offering role-playing games, subject to reservation.
Hines was advised by BNP Paribas Real Estate, Lacourte Raquin Tatar and Nord LB on the transaction.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 255 cities in 27 countries. Hines oversees investment assets under management valued at approximately $83.6 billion¹. In addition, Hines provides third-party property-level services to more than 367 properties totaling 138.3 million square feet. Historically, Hines has developed, redeveloped or acquired approximately 1,486 properties, totaling over 492 million square feet. The firm has more than 171 developments currently underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a foundational commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world.
Since entering Europe in 1991, Hines has grown its European platform to include offices in 16 cities as well as a presence in 62 cities in 13 countries. Hines oversees investment assets under management valued at approximately €21.7 billion and provides third-party property-level services totaling 3.9 million square meters in Europe, in Austria, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Spain and the United Kingdom. Visit www.hines.com for more information. 1. Includes both the global Hines organization as well as RIA AUM as of 30 June 2021.
About the Bayerische Versorgungskammer
The Bayerische Versorgungskammer is the competence and service center for occupational and communal pension schemes and Germany´s largest pension group under public law. As a public authority of the Bavarian Ministry of the Interior, it is the joint executive body of twelve liberal professions´ and communal pension schemes. The Bayerische Versorgungskammer covers about 2.4 million insured persons in total, with contributions of € 5.2 billion and about € 3.8 billion pension payments annually. It currently has € 97.2 billion assets under management (market value) and more than 1,420 employees. The Bayerische Versorgungskammer has been a signatory of the UN Principles for Responsible Investment (PRI) since 2011.