Hines and AG Real Estate to Sell HEKLA Tower in Paris La Défense to Amundi Immobilier and Primonial Reim

(PARIS LA DÉFENSE, FRANCE) – Hines, the international real estate firm, in partnership with AG Real Estate, announced today, the signing of a ‘VEFA’ agreement with Amundi Immobilier and Primonial REIM, on behalf of the funds they manage, to sell the HEKLA tower (sale pending future completion) in Paris La Défense. HEKLA is expected to be completed in early 2022.

Designed by Jean Nouvel, the 48-story, 76,000-square-metre (818,000-square-foot) tower will give new balance to the skyline of Paris La Défense. A stunning architectural statement, HEKLA will be positioned as the premier office tower in Europe’s largest business district.

Located 300 metres from the transport hub, HEKLA will be an integral part of the future public spaces on the Rose de Cherbourg site. Developed by Epadesa, this new neighborhood will create a desired place for living, animated by the diversity of its spaces and the inclusion of a planted suspended pedestrian walkway inspired by New York’s High Line. Versatile and innovating, HEKLA will accommodate 5,800 employees and provide new methods of organizing work focused on well-being, collaboration and an environment that is open and friendly. Additionally, the building will offer tenants a comprehensive range of services including five restaurants.

HEKLA will aim for the highest levels of HEQ, LEED, BREEAM, Effinergie, and WELL certification.

Pedro Antonio Arias, Amundi's Director of Real and Alternative Assets and Laurent Fléchet, CEO of Primonial REIM explained, "With its 48 floors, the HEKLA tower will rise to a height of 220 meters. This asset, located in the heart of the La Défense business district, will benefit from the best environmental promises, consolidating Amundi Immobilier and Primonial REIM's commitment to the issue."

For Jean-Claude Gaillot, EPADESA's Chief Executive Officer: "A few days before the creation of the Paris La Défense Local Public Development Authority, created by the fusion of EPADESA and Defacto, the signature of the sales agreement for the HEKLA tower will strongly contribute to reinforcing the appeal of Paris La Défense. Located on the commune of Puteaux, this project will coincide with the total redevelopment of the public spaces of the Rose de Cherbourg area and the creation of a lively suspended green walkway."

Amundi Immobilier and Primonial REIM were represented by Cheuvreux notary office, the Gide Loyrette Nouel legal practice, and Nox engineering consultants. Hines and AG Real Estate were advised by the Lasaygues notary office, Lacourte Raquin Tatar, and Kramer Levin Naftalis & Frankel. The financing of the project and provision of the guarantees was assumed by CACIB. Epadesa was assisted by the Bouvat-Martin, Benichou et Escargueil-Vanderheyden notary office.

About Hines

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 201 cities in 21 countries. Hines has approximately $100 billion of assets under management, including $54.5 billion for which Hines provides fiduciary investment management services, and $45.5 billion for which Hines provides third-party property-level services. The firm has 113 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,262 properties, totalling over 414 million square feet. The firm’s current property and asset management portfolio includes 529 properties, representing over 213 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.

Since entering Europe in 1991, Hines has grown its European platform to include a presence in 51 cities in 11 countries and Hines Europe currently has €14.0 billion of assets under management in Denmark, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Poland, Spain and the United Kingdom.

Hines France, alongside AG Real Estate, is assisting the buyer in preparation for marketing the HEKLA Tower with a view to its leasing. Hines France, who entered the French market in 1995, boasts extensive expertise and know-how based on wide experience of head offices, high-rise buildings and the La Défense district where the firm has developed over 350,000 sqm. including the EDF, Engie and Carpe Diem Towers. Hines France is currently developing 380,000 sqm. of offices, including the Window project and the Saint-Gobain Tower in La Défense, in addition to the Duo Towers (13th arrondissement of Paris). Finally, its Investment Management activity with a portfolio of 2.3 billion euros of A.U.M., allows Hines France to gain knowledge of and anticipate the needs of major users.

For more information: www.hines.com

About the AG Real Estate group

AG Real Estate, 100% subsidiary of AG Insurance, is active in various sectors of real estate: Asset & Property Management, Development & Construction Management, PPP and Real Estate Financing, together with Car Park Management via its subsidiary Interparking. AG Real Estate manages a portfolio, for their own account and on behalf of third parties, of over 6 billion euros. It has a staff of more than 250 employees with a multitude of different profiles and skills and almost 2,300 people are employed in car park management in 9 European countries.

AG Real Estate France is the French subsidiary of AG Real Estate, recognised as leader of the Belgian real estate market. A player on the French market, AG Real Estate France is focussed on its core activity: real estate development and investment in corporate real estate.

A few key figures...

At the end of 2016, AG Real Estate France had developed over 200,000 sqm. of office space and 370,000 sqm. of logistics facilities representing approximately €1.4 billion, which includes the portfolio of pure investments made over the same period. In Spring 2017, the portfolio of managed projects represented a potential of 240,000 sqm. AG Real Estate France is currently developing 300,000 sqm. of projects. The portfolio acquired is highly diverse with offices, activity hotels, retail, logistics facilities and car parks.

For further information, please visit our website www.agrealestate.eu

About Amundi

Amundi is Europe’s largest asset manager by assets under management and ranks in the top 10[1] globally. Thanks to the integration of Pioneer Investments, it now manages 1.4 trillion[2] euros of assets across six main investment hubs[3]. Amundi offers its clients in Europe, Asia-Pacific, the Middle-East and the Americas a wealth of market expertise and a full range of capabilities across the active, passive and real assets investment universes. Headquartered in Paris, and listed since November 2015, Amundi is the 1st asset manager in Europe by market capitalization[4].

Leveraging the benefits of its increased scope and size, Amundi has the ability to offer new and enhanced services and tools to its clients. Thanks to its unique research capabilities and the skills of close to 5,000 team members and market experts based in 37 countries, Amundi provides retail, institutional and corporate clients with innovative investment strategies and solutions tailored to their needs, targeted outcomes and risk profiles.

[1] Source IPE “Top 400 asset managers” published in June 2017 and based on AUM as of end December 2016.

2 Amundi figures as of September 30, 2017

3 Investment hubs: Boston, Dublin, London, Milan, Paris and Tokyo

4 Based on market capitalization as of September 30, 2017

About Primonial REIM

Primonial REIM is a portfolio management company that was authorised by the Autorité des Marchés Financiers (AMF) in 2011. Its purpose is to design and manage a range of investment vehicles that reflect its strong convictions about real-estate markets. Its aim is to make SCPI real-estate funds – investing in office, healthcare, retail and residential properties – available to the widest possible audience.

As a portfolio management company, Primonial REIM creates and manages real-estate CIUs for institutional investors. On 10 June 2014, Primonial REIM obtained AIFM (Alternative Investment Fund Manager) authorisation from the AMF, under which it is subject to increased obligations in areas such as reporting, liquidity monitoring and risk management. The Chairman of its Executive Board is Laurent Fléchet. Its Management Board consists of Grégory Frapet and Stéphanie Lacroix.

Key figures at 30 June 2017

47,000 investors // €12.4 billion of assets under management // 2,750,000 sqm of real-estate assets under management // 2,500 tenant companies.

About Epadesa

Paris La Défense is the leading economic, financial and commercial destination in Europe. Steeped in history, the business district has been in a state of constant renewal and redesign since its creation nearly 60 years ago. La Défense is conveniently located just minutes from downtown Paris thanks to a transportation network of exceptional quality, destined to become even more extensive and efficient in the near future. It features a fast-developing, high-quality, flexible and sustainable real estate offering. Ambitious renovation and urban enhancement programs are underway, creating greater diversity and finer quality of life.

Paris La Défense has set out a new 10-year strategic program to guide its transformation and strengthen its international appeal. The upcoming arrival of new lines of public transportation also confirms the strategic role of mobility in Greater Paris. The initial results can already be seen: residential buildings are rising at the foot of the Grande Arche, and new public spaces in Jardins de l’Arche are opening the historic business district up to its urban environment.

This new strategy also showcases Paris La Défense as a first-class tourist and entertainment destination in Greater Paris. New and innovative hotel concepts, the opening of the U Arena, the largest indoor concert hall in Europe with a capacity of 40,000 spectators, the reopening the Roof of the Grande Arche and the creation of new convention venues, not to mention an extensive and highly diversified commercial offering, make this business district a veritable social hub.

Several towers are under construction on and around the pedestrian platform of La Défense. Built with a keen emphasis on energy efficiency, new uses and innovation, they are intended to house the worldwide headquarters of international companies in the coming five years.

This current and future momentum makes Paris La Défense one of the most attractive areas in Greater Paris.

HEKLA facade - Copyright: Ateliers Jean Nouvel
Caption HEKLA facade - Copyright: Ateliers Jean Nouvel