Hines Interests Limited Partnership
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Type | Privately held company |
---|---|
Industry | Real estate |
Founded | 1957 |
Founder | Gerald D. Hines |
Headquarters | |
Key people | Gerald D. Hines, Founder Jeffrey C. Hines, Chairman and CEO |
Number of employees | 4,785 |
Website | www |
![](http://upload.wikimedia.org/wikipedia/commons/thumb/2/28/Williamstower.jpg/250px-Williamstower.jpg)
![](http://upload.wikimedia.org/wikipedia/commons/thumb/7/75/Franklin_Park_%26_One_Franklin_Square_-_Washington%2C_D.C..jpg/250px-Franklin_Park_%26_One_Franklin_Square_-_Washington%2C_D.C..jpg)
Hines Interests Limited Partnership is a privately held company that invests in and develops real estate.[1]
The company has developed, redeveloped or acquired 1,450 properties, comprising over 485 million square feet.[2] The company currently manages 622 properties comprising 256 million square feet. The company has a presence in 240 cities in 27 countries.[2] The firm's business model is alleged to be adding to Ireland's housing crisis.[3]
History[]
The company was founded in Houston in 1957 by Gerald D. Hines.[4]
In 1966, the company signed a lease with Royal Dutch Shell as the anchor tenant of a 50-story building it was constructing.[4]
In March 2006, Hines Real Estate Investment Trust acquired 321 N. Clark, an 897,000 square foot office building in Chicago for $247.3 million.[5]
In December 2006, a subsidiary of Hines Real Estate Investment Trust acquired a portfolio of 9 buildings in Redmond, Washington for $217 million.[6]
In November 2008, Hines Real Estate Investment Trust acquired a 70% interest in 12 shopping centers owned by Weingarten Realty Investors.[7]
In July 2009, a partnership of the company and Sterling surrendered a 542,000 square foot office building in San Francisco to its lenders.[8]
In October 2010, Hines Global REIT acquired an office tower in Minneapolis for $180 million.[9]
In December 2010, the company sold its 2% interest in 9 buildings including Safeco Plaza (Seattle) to its joint venture partner, CalPERS.[10]
In April 2011, the company began development of CityCenterDC on the site of the former convention center in Washington D.C.[11][12]
In August 2012, a subsidiary of Hines Global REIT acquired the headquarters of Old Navy in San Francisco for $180 million.[13]
In May 2013, the company sold a building in Washington D.C. to Liberty Property Trust for $133.5 million.[14]
In November 2013, a team led by the company was chosen as the master developer of the Walter Reed Army Medical Center.[15]
In December 2013, Hines Global REIT acquired a property in Washington, D.C. for $141.9 million.[16]
In April 2016, in partnership with Welltower, the company acquired a site in Midtown Manhattan and began development of a 15-story senior living facility.[17]
In August 2016, a subsidiary of Hines Real Estate Investment Trust sold a property in South Florida for $27.59 million.[18]
In February 2016, the company acquired a 345,000 square foot office complex in North Bethesda, Maryland from JBG Smith.
In June 2016, the company announced that Hines Real Estate Investment Trust Inc. would liquidate.[19]
In November 2016, Hines Real Estate Investment Trust sold 7 office properties on the West Coast of the United States to an affiliate of The Blackstone Group for $1.162 billion, sold an office property in Bellevue, Washington to an affiliate of AEW Capital Management for $193 million,[20] and sold the Wells Fargo Center (Sacramento), the tallest building in Sacramento, Starwood Capital Group for $175.5 million.[21] The company also began construction of a 327,000 square foot development in Houston.[22]
In March 2017, the company, in partnership with Oaktree Capital Management, acquired a property in the East Bay (San Francisco Bay Area) for $108.9 million.[23] The company also opened a 24-story, 233-unit luxury apartment complex in Houston.[24]
In March 2017, the company acquired a 2.2 million square foot distribution center in La Porte, Texas from BlackRock.[25]
In May 2017, the company announced plans for a 600,000 square foot mixed-use development in Miami.[26] The company also announced plans for T3 West Midtown and Atlantic Yards, 700,000 square feet of developments in Atlanta in partnership with Invesco.[27]
In July 2017, Hines Global REIT sold an apartment complex in Miami for $100 million.[28]
In June 2019, Hines partnered with the Abu Dhabi Investment Authority (ADIA) to fund Conscient Infra's construction of an apartment complex: Conscient Hines Elevate.[29] in Gurgaon for INR 400 crore.
In August 2020, Hines partnered with Henderson Park Capital to acquire a 71,000 square meter site in Athens, Greece, to be developed into a residential-for-sale complex.[30]
In December 2020, Hines formed a joint venture with the National Pension Service of Korea to focus on build-to-core properties in the U.S.[31]
References[]
- ^ Feser, Katherine (2021-02-12). "Renderings provide first look at new district near Texas Medical Center". Houston Chronicle. Retrieved 2021-03-02.
- ^ Jump up to: a b Hines: About the firm
- ^ Lyne, Laura (2021-05-11). "Dublin housing crisis breakdown of biggest SHDs and if we'll ever own a home". DublinLive. Retrieved 2021-08-18.
- ^ Jump up to: a b Solomont, E.B. (August 26, 2016). "How Gerald Hines built an $89B real estate empire". The Real Deal.
- ^ "Hines Pays $247.3Mln for 321 N. Clark in Chicago". Commercial Real Estate Direct. April 25, 2006.
- ^ Mordock, Jeff (November 30, 2006). "Hines to Pay $217Mln for 716,000 SF of Space in Suburban Seattle". Commercial Real Estate Direct.
- ^ "WEINGARTEN, HINES REIT FORM $271 MILLION JOINT VENTURE". RE Business Online. November 18, 2008.
- ^ "Hines, Sterling to surrender S.F. building". American City Business Journals. July 24, 2009.
- ^ Black, Sam (October 7, 2010). "Hines Global REIT to buy 50 South Sixth office tower in Minneapolis for $180M". American City Business Journals.
- ^ Jones, Jeanne Lang (December 24, 2010). "Hines sells national building portfolio to CalPERS". American City Business Journals.
- ^ O'Connell, Jonathan (March 7, 2004). "New $950 million CityCenter DC complex on site of former convention center set for construction in April". The Washington Post.
- ^ Krouse, Sarah; Neibauer, Michael (October 21, 2010). "Hines plans April groundbreaking on CityCenter". American City Business Journals.
- ^ Kelliher, Fiona (January 28, 2019). "Exclusive: Gap in talks to buy Old Navy HQ in Mission Bay". American City Business Journals.
- ^ Sernovitz, Daniel J. (May 22, 2013). "Liberty Property Trust pays $133.5 M for 2100 M St. NW". American City Business Journals.
- ^ O'Connell, Jonathan (November 5, 2013). "Team led by Hines Interests named master developer of 67-acre Walter Reed campus". The Washington Post.
- ^ "Hines Global REIT Acquires 55 M Street in Washington, D.C." (Press release). Hines. December 10, 2013.
- ^ Malesevic, Dusica Sue (April 19, 2016). "Hines, Welltower plan 15-story senior living facility in Midtown". The Real Deal.
- ^ Bandell, Brian (August 15, 2016). "REIT sells BJ's Wholesale-anchored center for $28M". American City Business Journals.
- ^ Pulsinelli, Olivia (June 30, 2016). "Houston-based REIT to dissolve, sell assets". American City Business Journals.
- ^ "Hines REIT Completes $1.162 Billion Sale of Office Assets" (Press release). Hines. November 11, 2016.
- ^ van der Meer, Ben (November 14, 2016). "EXCLUSIVE: Wells Fargo Center sold for $175.5 million". American City Business Journals.
- ^ Smith, Mike D. (November 22, 2016). "Work begins on parking garage, tunnel for Houston's Lyric Centre". Houston Chronicle.
- ^ Li, Roland (March 28, 2017). "Hines and Oaktree buy massive East Bay office complex". American City Business Journals.
- ^ Takahashi, Paul (March 24, 2017). "Hines multifamily exec: 'It's going to be a pretty rough 2017'". American City Business Journals.
- ^ Pulsinelli, Olivia (March 31, 2017). "Hines buys, rebrands, expands industrial park near Port of Houston". American City Business Journals.
- ^ Dolan-Del Vecchio, Erik (May 24, 2017). "Hines Adds 45-Story Tower To Miami's $2B Worldcenter Development". Bisnow Media.
- ^ "Hines and Invesco Real Estate Announce T3 West Midtown and Atlantic Yards" (Press release). Hines. May 30, 2017.
- ^ "Berkshire Group acquires rental apartment building near Coral Gables". American City Business Journals. June 27, 2017.
- ^ "Conscient Hines Elevate". June 22, 2019.>
- ^ "Henderson Park and Hines acquire prime residential development site in Athens". www.propertyfundsworld.com. 2020-08-18. Retrieved 2020-08-20.
- ^ "National Pension Service of Korea and Hines Form New Build-to-Core Venture in RE". www.swfinstitute.org. 2020-12-10. Retrieved 2020-12-10.
- Hines Interests Limited Partnership
- American companies established in 1957
- Real estate companies established in 1957
- Real estate companies of the United States
- Companies based in Houston
- Financial services companies of the United States
- 1957 establishments in Texas
- Financial services companies established in 1957