{"id":1004112113,"date":"2015-01-28T08:06:13","date_gmt":"2015-01-28T16:06:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004112113"},"modified":"2022-12-08T13:38:50","modified_gmt":"2022-12-08T21:38:50","slug":"hines-finds-buyer-for-pointe-metro-office-property-in-suburban-paris","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hines-finds-buyer-for-pointe-metro-office-property-in-suburban-paris\/","title":{"rendered":"Hines Finds Buyer for Pointe Metro Office Property in Suburban Paris"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Pointe-Metro.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004112117\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hines-finds-buyer-for-pointe-metro-office-property-in-suburban-paris\/pointe-metro-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Pointe-Metro.jpg\" data-orig-size=\"800,533\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Pointe Metro\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Pointe-Metro.jpg?w=800\" class=\"alignright size-medium wp-image-1004112117\" alt=\"Pointe Metro\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Pointe-Metro.jpg\" width=\"300\" height=\"199\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Pointe-Metro.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Pointe-Metro.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Pointe-Metro.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/em><\/p>\n<p>International real estate firm Hines, acting on behalf of the Hines European Value Added Fund, has sold Pointe M\u00e9tro, a 255,700-square-foot office building outside of Paris in Gennevilliers, France. Northwood Investors L.L.C. snapped up the premier asset for an undisclosed amount.<\/p>\n<p>It was in 2008 when Hines acquired Pointe M\u00e9tro for HEVAF in a forward purchase; the project reached completion in late 2010. According to a research report Grosvenor Group Ltd., Hines had bought Pointe Metro from Nexity Enterprises for $95 million.<\/p>\n<p>Sited at the base of a Metro station, the property consists of three interconnected structures and also offers 1,000 square feet of retail space. Today, sole office tenant Prisma Media claims the entire building as its own.<\/p>\n<p>A spokesperson for Hines told <i>Commercial Property Executive<\/i> that the company isn&#8217;t sharing any further information about the Pointe M\u00e9tro transaction; however, given the state of the market, it appears likely that the company had little trouble finding a buyer for the asset. According to a report by JLL, which joined Catella Property in representing Hines in the sale, demand in the Greater Paris region was &#8220;vigorous to the end of 2014.&#8221;\u009d With an estimated total investment volume of $14 billion for last year, 2014 marked the third most active year in the market, after 2007 and 2006.<\/p>\n<p>HEVAF launched in 2005, with the goal of investing in value-add properties across Europe, and creating value through development, redevelopment, leasing and ultimately, disposition.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hines may have had trouble initially finding a buyer for its Paris-area asset due to the state of the market, but now a purchaser has appeared for the 256,000-square-foot office building.<\/p>\n","protected":false},"author":969,"featured_media":1004112117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16,21783,21742,21747],"tags":[],"class_list":["post-1004112113","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","category-investment","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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