Hines Interests Limited Partnership
 | |
Type | Privately held company |
|---|---|
| Industry | Real estate |
| Founded | 1957 (1957) |
| Founder | Gerald D. Hines |
| Headquarters | Williams Tower Houston, Texas |
Key people | Gerald D. Hines, Chairman Jeffrey C. Hines, President and CEO |
Number of employees | 3,775 |
| Website | www.hines.com |
Williams Tower, headquarters of the company
One Franklin Square, owned by the company
Hines Interests Limited Partnership is a privately held company that invest in and develops real estate.
The company has developed, redeveloped or acquired 1,262 properties, comprising over 414 million square feet.[1] The company currently manages 529 properties comprising 213 million square feet.[1] The company has a presence in 201 cities in 21 countries.[1]
History
The company was founded in Houston in 1957 by Gerald D. Hines.[2]
In 1966, the company signed a lease with Royal Dutch Shell as the anchor tenant of a 50-story building it was constructing.[2]
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.[3]
In December 2006, a subsidiary of Hines Real Estate Investment Trust acquired a portfolio of 9 buildings in Redmond, Washington for $217 million.[4]
In November 2008, Hines Real Estate Investment Trust acquired a 70% interest in 12 shopping centers owned by Weingarten Realty Investors.[5]
In July 2009, a partnership of the company and Sterling surrendered a 542,000 square foot office building in San Francisco to its lenders.[6]
In October 2010, Hines Global REIT acquired an office tower in Minneapolis for $180 million.[7]
In December 2010, the company sold its 2% interest in 9 buildings including Safeco Plaza (Seattle) to its joint venture partner, CalPERS.[8]
In April 2011, the company began development of CityCenterDC on the site of the former convention center in Washington D.C.[9][10]
In August 2012, a subsidiary of Hines Global REIT acquired the headquarters of Old Navy in San Francisco for $180 million.[11]
In May 2013, the company sold a building in Washington D.C. to Liberty Property Trust for $133.5 million.[12]
In November 2013, a team led by the company was chosen as the master developer of the Walter Reed Army Medical Center.[13]
In December 2013, Hines Global REIT acquired a property in Washington, D.C. for $141.9 million.[14]
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.[15]
In August 2016, a subsidiary of Hines Real Estate Investment Trust sold a property in South Florida for $27.59 million.[16]
In February 2016, the company acquired a 345,000 square foot office complex in North Bethesda, Maryland from JBG Smith.[17]
In June 2016, the company announced that Hines Real Estate Investment Trust Inc. would liquidate.[18]
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,[19] and sold the Wells Fargo Center (Sacramento), the tallest building in Sacramento, Starwood Capital Group for $175.5 million.[20] The company also began construction of a 327,000 square foot development in Houston.[21]
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.[22] The company also opened a 24-story, 233-unit luxury apartment complex in Houston.[23]
In March 2017, the company acquired a 2.2 million square foot distribution center in La Porte, Texas from BlackRock.[24]
In May 2017, the company announced plans for a 600,000 square foot mixed-use development in Miami.[25] The company also announced plans for T3 West Midtown and Atlantic Yards, 700,000 square feet of developments in Atlanta in partnership with Invesco.[26]
In July 2017, Hines Global REIT sold an apartment complex in Miami for $100 million.[27]
References
^ abc Hines: About the firm
^ ab Solomont, E.B. (August 26, 2016). "How Gerald Hines built an $89B real estate empire". The Real Deal..mw-parser-output cite.citationfont-style:inherit.mw-parser-output .citation qquotes:"""""""'""'".mw-parser-output .citation .cs1-lock-free abackground:url("//upload.wikimedia.org/wikipedia/commons/thumb/6/65/Lock-green.svg/9px-Lock-green.svg.png")no-repeat;background-position:right .1em center.mw-parser-output .citation .cs1-lock-limited a,.mw-parser-output .citation .cs1-lock-registration abackground:url("//upload.wikimedia.org/wikipedia/commons/thumb/d/d6/Lock-gray-alt-2.svg/9px-Lock-gray-alt-2.svg.png")no-repeat;background-position:right .1em center.mw-parser-output .citation .cs1-lock-subscription abackground:url("//upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Lock-red-alt-2.svg/9px-Lock-red-alt-2.svg.png")no-repeat;background-position:right .1em center.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registrationcolor:#555.mw-parser-output .cs1-subscription span,.mw-parser-output .cs1-registration spanborder-bottom:1px dotted;cursor:help.mw-parser-output .cs1-ws-icon abackground:url("//upload.wikimedia.org/wikipedia/commons/thumb/4/4c/Wikisource-logo.svg/12px-Wikisource-logo.svg.png")no-repeat;background-position:right .1em center.mw-parser-output code.cs1-codecolor:inherit;background:inherit;border:inherit;padding:inherit.mw-parser-output .cs1-hidden-errordisplay:none;font-size:100%.mw-parser-output .cs1-visible-errorfont-size:100%.mw-parser-output .cs1-maintdisplay:none;color:#33aa33;margin-left:0.3em.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration,.mw-parser-output .cs1-formatfont-size:95%.mw-parser-output .cs1-kern-left,.mw-parser-output .cs1-kern-wl-leftpadding-left:0.2em.mw-parser-output .cs1-kern-right,.mw-parser-output .cs1-kern-wl-rightpadding-right:0.2em
^ "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.
^ Rothstein, Ethan (February 8, 2016). "JBG Sells North Bethesda Offices For $54.6M". isnow Media.
^ 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. (Subscription required (help)).
^ 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.
