The European arm of Hines, the privately held US group, has sold the Riva office building located in the Paris suburb of Neuilly-sur-Seine to fund manager Amundi.
The European arm of Hines, the privately held US group, has sold the Riva office building located in the Paris suburb of Neuilly-sur-Seine to fund manager Amundi.
The property was owned by Hines European Value Added Fund (HEVAF). The financial details were not disclosed.
The seven-story, 6,880 m2 office building is fully leased for nine years to the pharmaceuticals company, Lilly France.
Wargny Katz & Associés represented Amundi in the transaction, and Lasaygues & Associés represented HEVAF.
Hines France provided development management services to the fund for the refurbishment of the building, which was renovated according to a design by French architects Carlo Maria Natale and Associates. The building has the Haute Qualité Environnementale (HQE) certification.
Launched in 2005 with €287 mln of equity commitments, HEVAF was the second pan-European investment fund raised by Hines. The fund's strategy has been to invest in and add value to properties, principally in France, Germany, Italy, Spain and the UK.
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide.
