Accor announces successful disposal of its Paris headquarters building for €460 million to Valesco Group

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The transaction structure includes a 12-year sale and leaseback agreement with an initial annual rent of €22 million

In line with the announcement made on September 28, 2022, Accor has announced having successfully completed the disposal of its headquarters building, “Sequana Tower”, for €460 million to The Valesco Group. This transaction is the largest office deal of the year in Continental Europe and largest office deal in France since 2022.

The transaction structure includes a 12-year sale and leaseback agreement with an initial annual rent of €22 million and existing shareholder loan of €100 million.

Colliers acted as broker for the transaction. Accor was assisted by Gide, Loyrette, Nouel for the legal aspects; ReedSmith for the tax aspects and by Wargny-Katz, notaries.

Valesco’s recently established fully discretionary fund made its inaugural transaction during this deal, supported by sovereign capital. This marks an important milestone for the fund.

The Sequana Tower stands tall at 26 storeys, encompassing an area of 43,027 sq m. Notably, the tower’s design earned it the Eco Building Performance Grand Prize. Its emphasis on environmental, social and governance (ESG) factors is evident, as it offers a visitor and talent-oriented experience at its core. The tower boasts an array of amenities, including a concierge service, a gym and spa, an auditorium, multiple cafeterias and breakout areas, an executive restaurant on the top floor, and various terraces.

Situated in the highly sought-after Issy-les-Moulineaux commune in Paris, Sequana Tower enjoys an enviable location. This area is home to the headquarters of several multinational corporations such as Nestle, Microsoft, Johnson & Johnson, Cisco, and Capgemini.