Hines, a privately owned global real estate investment firm and sponsor of non-traded REITs, secured 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 462,848-square-foot tower. Hines France, the asset manager for Sequana Tower, secured the deal – one of the largest transactions of 2015. Sequana Tower is a Class A office building located in one of the main office submarkets southwest of Paris.
“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.