The International Real estate company Hines and Universal Investment have successfully completed the acquisition of 114 Champs-Elysées for around 600 million euros on behalf of the Bavarian Supply Chamber (BVK). The seller is the EPI group. The building is rented to Apple for the long run.

After the completion of a comprehensive renovation program under the auspices of Pritzker Prize-winner Sir Norman Foster of Foster + Partners, the 5,500 square meter retail and Office object is to become the European flagship store and headquarters of Apple in Continental Europe. The opening is planned for the end of 2018. An architectural rendition of the design is noted below.

Peter Epping, senior managing director Investment Management for Hines Europe and responsible for the BVK fund, says: "The acquisition of 114 Champs-Elysées on one of the most famous roads in the world is a significant strategic investment for the BVK and complements the Investment fund's existing retail investments across Europe."

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