Hines leases entire Sequana tower in Paris to Accor

US developer and asset manager Hines has announced the letting of the entire Sequana Tower in Issy-les-Moulineaux near Paris to AccorHotels, Europe’s largest hotel operator.

Accor has signed a 12-year lease, beginning in January 2016, for the entire 43,000-m2 high-rise building.

'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.

The Houston, Texas-based Group has a strong presence in France with a number of ongoing development projects. In the business district of La Défense, Hines is developing Tour Hekla in a joint venture with Belgian investor AG Real Estate.

The Jean Nouvel-designed high-rise building will offer 80,000 m2 in total, reaching a height of 200 metres.

Meanwhile, two other tower projects are being brought forward for third parties, building on the success of Carpe Diem, which was developed for Aviva and Predica, also in La Défense. These include a 54,000 m2 office scheme for occupier Saint Gobain on a site owned by Generali, and the 100,000 m2 Duo Towers in Seine Rive Gauche on the east side of Paris for investor Ivanhoe Cambridge.