South Korean investors acquires French tower for €450m

Hines has acquired the CBX building in Paris-La Défense from an investment vehicle managed by Tishman Speyer for almost €450 million ($512 million).

The purchase has been made through its AMF authorized asset management company Hines SGP, on behalf of South Korean investors, which include Hana Financial Investment and Daishin Securities, represented by Vestas Investment Management.

The 32-story tower, which was completed in 2005 and renovated in 2017, comprises 43,000 square meters (463,000 square feet). The property is fully occupied.