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| Hines' Pan-European Core Fund acquires office building in Paris The London office of Hines, the international real estate firm, announced that the Hines Pan-European Core Fund (HECF) has acquired from Tishman Speyer, Eurosquare 1, an office building in St. Ouen, Paris, located on the northern part of the Paris ring road. The building is fully leased to a wholly owned subsidiary of Gaz de France until 2013. Completed in 2003, Eurosquare 1 comprises 15,420 square metres (165,920 square feet) of office space distributed over seven floors above grade. It is located on Boulevard Victor Hugo, the main artery of the growing business district of St. Ouen, which is also home to large operations of L'Oréal, Danone, Nokia, Sony, BNP Parisbas, etc. HECF is a Euro-denominated, Luxembourg-regulated Fonds de Commun de Placement (FCP) managed by Hines, with the objective to acquire a geographically diverse portfolio of core buildings with commercial uses across Europe. In France, Hines' portfolio of owned and/or developed projects encompasses 440,000 square metres (4.7 million square feet), including EDF Tower and the Meudon campus. Tishman Speyer is one of the leading owners, developers and operators of first-class real estate in the world. Since its founding in 1978, the company has acquired or developed a portfolio of 9.8 million square metres, valued at over €35.2 billion. Tishman Speyer's reputation for globally recognised properties includes such prestigious icons as New York City's Chrysler Center and Rockefeller Center, London's Tower Place, Frankfurt's MesseTurm, Paris' Tour CBX, and other prominent properties in major European cities. write your comments about the article :: © 2007 Construction News :: home page |