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 includes more than 1,200 properties completed, under development, managed, or invested in in more than 100 cities worldwide. 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 company in 1957.
Houston-based Hines has offices in more than 55 US cities and some 18 countries worldwide, including Australia, Brazil, Canada, China, Germany, India, Mexico, and the UK.
Since 1991, Hines has employed a range of investment strategies to pursue acquisition and development opportunities through 40 investment vehicles ( 38 privately offered and two publicly offered) with more than $21 billion in equity. 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.
One of the world's largest real estate organizations, Hines controls assets valued at nearly $24 billion.
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-square-foot office building within the Irvine Business Complex.
Farther afield, Hines Global REIT purchased a two-building logistics facility in the Upper Silesia region of Poland for $25.8 million.Other recent acquisitions include office properties in London and Brisbane, Australia.
The company has a particular interest in sustainable development. It's 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 will work for its multifamily division, which has been experiencing a surge in demand.