International: Hines Nabs Long-Term Tenant in The City of Light

A sizable tower in the southwestern suburban area of France's capital has found a long-term tenant under Hines’ tutelage.
Sequana Tower

A 462,848-square-foot tower in the southwestern suburban area of Paris, France has found a long-term tenant under Hines’ tutelage. The international real estate firm announced recently that AccorHotels, Europe’s largest hotel operator, has signed a 12-year lease at Sequana Tower in Issy-les-Moulineaux.

Sequana Tower is a class A office tower located at 87 Rue Henry Farman and within one of the main office submarkets southwest of Paris. The tower was completed in 2010 and was designed by Arquitectonica, an architecture firm renowned for projects such as the Westin Times Square Hotel in New York and the Atlantis Condominium in Miami.

“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,” said in a prepared statement Xavier Musseau, managing director of Hines France.

AccorHotels owns and operates more than 3,700 hotels across five continents and operates luxury brands, such as the Sofitel So and Sofitel Legend.  Sofitel So hotels are renowned for having been designed by international fashion designers such as Kenzo Takada and Christian Lacroix, whereas the Sofitel Legend brand usually operates within historic monuments.

The hotel operator is set to occupy the entire tower effective Jan. 1, 2016.