Hines has acquired the CBX building in Paris-La Défense. The purchase has been made through its AMF authorized asset management company Hines SGP, on behalf of South Korean investors (club deal with Hana Financial Investment and Daishin Securities) represented by Vestas Investment Management, from an investment vehicle managed by Tishman Speyer for almost €450m. The 32-story tower, which was completed in 2005 and renovated in 2017, comprises 43,000m². The property is fully occupied.
"This is a remarkable acquisition that marks the beginning of a close collaboration with our partner Vestas Investment Management. It clearly demonstrates our desire to consolidate our strategic position in Paris-La Défense – with the acquisition of WINDOW in 2018 and the construction of the Saint-Gobain and Hekla Towers underway," said a delighted Xavier Musseau, President of Hines SGP.
