In 2018, Hines and German investment company Universal-Investment acquired 114 Champs-Elysées in Paris. The acquisition was made for an institutional real estate fund on the platform of Universal-Investment, administered and managed on behalf of Bayerische Versorgungskammer (BVK), Germany’s largest pension scheme group.
The 59,535-square-foot (5,500 square meter) retail asset underwent a comprehensive refurbishment program designed by Pritzker prize-winning architect Sir Norman Foster of Foster + Partners, and is now Apple’s European flagship store in continental Europe.