The Hines European Value Added Fund (HEVAF) has sold the Riva building, a seven-story, 74,056 sqm 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 and was designed by the French architects Carlo Maria Natale and Associates. The Riva building has the Haute Qualité Environnementale (HQE) certification.
Launched in 2005 with €287m 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.
