Hines, the international real estate firm, announced today that Xavier Musseau, senior managing director since July 2019, has been appointed President of Hines France effective October 1. The appointment signals the completion of the period of transition with Patrick Albrand, which began last summer.
Albrand, who founded Hines France with Olivier de Dampierre, is stepping away from his leadership role to assume a more strategic focus after more than 25 years at the helm. Appointed Managing Director in 1995, Albrand took over as President of Hines France in 2014. He played a particularly decisive role in establishing the platform for Hines in France and its subsequent development over the years.
Lars Huber, CEO Europe at Hines, said:
“Patrick has been the architect of the Hines France platform, building a portfolio of successful and truly iconic projects which constitute some of the most recognized and prestigious buildings in Paris. Successfully growing the business through developments at first, then acquisitions and asset management in office and high street retail, he set the course for diversifying our French portfolio into residential and logistics, which Xavier will continue to build on under his leadership. On behalf of the Hines family and senior leadership, I want to thank Patrick for everything he has done – for his tremendous success in the business, but also for his leadership, his loyalty and for what he has contributed to the Hines culture. At the same time, we congratulate Xavier for his well-deserved promotion and his exciting new role. We look forward to seeing him and his outstanding team continuing the growth of the Hines France legacy.”
Xavier Musseau thanks Patrick Albrand and congratulates him for his exceptional career
“It is with great emotion that the Hines group and myself thank Patrick, a pioneer of Hines’ adventure in France and indeed in Europe, for his loyalty, humanity and for the huge contribution he has made. We will continue to enjoy the benefits of his expertise and vision in our ever-evolving industry. Patrick will stay with the firm as President of the Supervisory Board, in order to maintain the momentum of our activities across all categories of assets, and continue to advise us on strategic policy. Hines has a reputation as a leading player in office development and we intend to amplify that legacy and continue to develop through other outstanding projects, including residential, retail and logistics. We can count on extensive resources and loyal partners to achieve that.”
Growth and multiple asset-type projects: Xavier Musseau’s roadmap
With his sights set on optimizing recovery efforts, Musseau’s vision consists of refocusing the needs of corporations and their employees on offices. The current climate may be complex and uncertain but the Hines France team has ambitious objectives involving, in particular, the growth of its investments in Hines’ two European flagship funds: the Hines Pan European Core Fund set up to acquire “core” assets driven by revenue, and the Hines European Value Fund, a closed fund with an “opportunist” acquisition strategy across all asset categories. The growth of the funds continues to go hand in hand with the development of one-off deals, the aim of which is overall growth, one example being the acquisition of the CBX Tower last year.
To supplement the office sector, the traditional focus of the French structure which has developed around 15% of La Défense business district, Hines has made its foray in the managed residential sector – with the appointment of Julien Dunand to the position of Director of Living last year – and the development of “last mile” logistics platforms. Not forgetting High Street retail, with around €1 billion of assets under management.
About Xavier Musseau:
When he first joined Hines in 2000, Xavier Musseau, 52, headed up the finance and acquisition team. Promoted to Managing Director in 2013, he put together a team responsible for investment management activities, covering the supervision of acquisitions, asset management and project financing. In the past five years, Musseau has overseen over $4.6 billion (€4 billion) of acquisitions involving office and retail buildings on behalf of Hines’ funds and third-party sources of capital. He is also President of Hines SGP, Hines’ management company licensed by French Financial Market Authorities AMF in 2018. Previously, Musseau spent 10 years in banking working for Credit Lyonnais, covering different domains including structured financing for the real estate sector. He graduated from ISG Paris Business School in 1992.