US investor Hines has acquired the Pointe Metro office project in Gennevilliers, in the northwestern suburbs of Paris, from Nexity Entreprises for an undisclosed amount. The property is earmarked for the Hines European Value Added Fund (HEVAF).
US investor Hines has acquired the Pointe Metro office project in Gennevilliers, in the northwestern suburbs of Paris, from Nexity Entreprises for an undisclosed amount. The property is earmarked for the Hines European Value Added Fund (HEVAF).
The building, which will feature high-quality environmental standards, is located in the new Coeur de Seine district of the city, where a 20-hectare development will be carried out by the SEMAG 92 public private joint venture. Designed by architect Jean-Paul Viguier, the complex will provide some 25,100 m2 of space across three buildings, a restaurant and 426 parking spaces on the underground level. Natixis and Calyon are financing this transaction.
Construction work is due to start in November with delivery scheduled for September 2010. The Pointe Métro building is part of the first phase of the large Coeur de Seine development project.
