(PARIS) – Hines, the international real estate firm, announces a long-term lease at Sequana Tower in Issy-les-Moulineaux near Paris. AccorHotels, Europe’s largest hotel operator, has signed a 12-year lease, beginning in January 2016, for the entire 43,000-square-meter (462, 848-square-foot) tower.
Sequana Tower is a Class A office building located in one of the main office submarkets southwest of Paris. The deal has enabled Hines France, Asset Manager for Sequana Tower, to provide an optimum response to the objectives of its investors by securing a long-term rental income.
“The lease signed by AccorHotels in Sequana Tower marks a significant step forward for Hines France. In 2015, in a real estate market that has been characterized by the absence of large transactions, we are pleased to have secured this major transaction which enables us to create value for our investors by the signature of a long-term lease,” commented Xavier Musseau, managing director of Hines France.
Patrick Albrand, CEO of Hines France, adds, “The expertise deployed in this transaction by our Investment Management team fits perfectly into the historical identity of Hines France since its creation in 1995. Sequana Tower's high-profile architecture, its commitment to the environment, and the attention given to the comfort of its tenants are all factors of our Group's culture.”
Hines is a privately owned global real estate investment firm founded in 1957 with locations in 185 cities in 19 countries. Hines has $84.9 billion of assets under management, including $42.7 billion for which Hines provides fiduciary investment management services, and $42.2 billion for which Hines provides third-party property-level services. In 2014, Hines completed over $8 billion in transactions on behalf of its investment management clients. The firm has 104 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired more than 1,000 properties, totaling over 339 million square feet. The firm’s current property and asset management portfolio includes 511 properties, representing over 176 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.