(PARIS, FRANCE) – Hines, the international real estate firm, announced today that the Hines European Value Added Fund (HEVAF) sold the Riva building, a seven-story, 74,056-square-foot office building located in Neuilly-sur-Seine, to Amundi for an undisclosed amount.
The 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 the HEVAF.
Hines France provided development management services for the fund for the building’s refurbishment. Designed by the French architects Carlo Maria Natale and Associates, the renovation is characterized by its light, practical functionality and aesthetic quality, and included the addition of a large landscaped garden area surrounding the building.
The Riva building has the Haute Qualité Environnementale (HQE) certification.
Launched in 2005 with €287 million of equity commitments from a group of European institutional investors, the HEVAF was at inception the second pan-European investment fund raised by Hines. The objective of the fund has been to invest in and add value to European real estate opportunities, 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. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,208 properties representing more than 488 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments.
Across the globe, Hines manages a total of 137 million square feet for itself and third-party owners. With offices in 104 cities in 18 countries, and controlled assets valued at approximately $23.8 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED®, ENERGY STAR®, BREEAM, HQE and DGNB green building rating systems.
Visit www.hines.com for more information.