Hines Interests Limited Partnership

  • Overview

Hines has many interests, but none of them involve ketchup. The real estate firm invests in, develops, renovates, manages, and finances commercial real estate, including high-rise office buildings, industrial parks, medical facilities, mixed-use developments, and master-planned residential communities. Its portfolio boasts more than 1,280 properties completed, under development, managed, or invested. They span 100-plus cities worldwide and 516 million sq. ft. Hines has collaborated with such world-renowned architects as I. M. Pei, Philip Johnson, and Frank Gehry. Management services include marketing, tenant relations, and contract negotiations. Chairman Gerald Hines founded the family-controlled firm in 1957.

Geographic Reach

Houston-based Hines has offices in more than 110 US cities and some 18 countries worldwide, including Australia, Brazil, Canada, China, Germany, India, Mexico, and the UK. It maintains regional offices in Atlanta, Chicago, Houston, New York, San Francisco, and London, as well as in 65 other cities.

Sales and Marketing

Besides large, master-planned communities and land developments, Hines provides services to office, residential, mixed-use, industrial, hotel, medical, and sports facilities.

Operations

Hines manages 378 properties totaling nearly 152 million sq. ft., which includes 84.3 million sq. ft. for third parties.

Since 1991 Hines has employed a range of investment strategies to pursue acquisition and development opportunities through 42 investment vehicles (40 privately-offered and two publicly-offered) with more than $22 billion in equity. Additionally, $5.3 billion of partner capital has been committed to one-off investments.

Publicly-offered Hines Real Estate Investment Trust (Hines REIT) targets office properties throughout the US, but also has investments in retail and industrial properties. The firm's public, non-traded real estate investment trust, Hines Global REIT has raised more than $155 million to invest in commercial real estate properties and other real estate investment in the US and overseas. Hines is especially interested in making investments in China by developing housing and high-end shopping malls. The firm also closed out its first Brazilian development fund in 2011.

Hines' investor partners and clients include major public and private pension funds, government investment authorities, insurance companies, financial institutions, endowments, and individual investors. Sometimes the company, which invests in real estate through several funds, teams up with investors on special projects. Hines formed a joint venture with the California Public Employees' Retirement System to develop sustainable office buildings. Hines entered a similar joint venture with New York State Common Retirement Fund to invest more than $1 billion in office and medical office projects in the US.

Financial Performance

One of the world's largest real estate organizations, Hines controls assets valued at more than $25 billion.

Strategy

Hines has purchased more than $20 billion in prime real estate since 1993.

In the US, Hines is working to become more diversified and chasing down acquisition opportunities where they exist. In 2012, Hines and a subsidiary of a real estate fund managed by Oaktree Capital Management acquired Irvine Corporate Center, a two-story, 126,622-sq.-ft. office building within the Irvine Business Complex. In 2013, the pair also acquired the eight-acre Maxis office building.

Farther afield, Hines Global REIT purchased a two-building logistics facility in the Upper Silesia region of Poland for $25.8 million. Other acquisitions include office properties in London and Brisbane, Australia.

The company has a particular interest in sustainable development. Its Hines Green Office unit has handled nearly 200 Leadership in Energy and Environmental Design-certified and LEED registered projects.

In 2011 the firm created a new contracting company that works for its multifamily division, which has been experiencing a surge in demand.

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Hines Interests Limited Partnership


2800 Post Oak Blvd #4800
Houston, TX 77056-6118
Phone: 1 (713) 621-8000
Fax: 1 (713) 9662053
www.hines.com

STATS


  • Employer Type: Private
  • Chairman: Gerald Hines
  • Senior Managing Director: Kenneth Hubbard
  • Vice Chairman and Chief Investment Officer: C. Hastings Johnson

Major Office Locations

  • Houston, TX

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