Gerald D. Hines opens a one-man office near downtown Houston
98 completed developments and acquisitions3
208 completed developments and acquisitions
376 completed developments and acquisitions
458 completed developments and acquisitions
803 completed developments and acquisitions
$22.9 billion in controlled assets under management
$17.2 billion in third-party assets under management
1,077 completed developments and acquisitions
$42.7 billion in fiduciary investment management assets under management
$42.2 billion in third-party property-level services assets under management
1,126 completed developments and acquisitions
$42.5 billion in fiduciary investment management assets under management
$46.6 billion in third-party property-level services assets under management
- Hines Executive Leadership
- Core Competencies
- 2016 Highlights
- Memberships and Affiliations
- Sustainability Awards Received in 2016
|1,206||total historical, acquired and completed developments|
|$96.5||billion in fiduciary investment management & third-party property level AUM|
|390M sf||total historical, acquired and completed developments|
Hines was founded by Gerald D. Hines in 1957 as a sole proprietorship. The firm is now Hines Interests Limited Partnership (HILP), 100 percent owned by Gerald D. Hines and Jeffrey C. Hines. Other members of the firm, including officers, may purchase equity shares in the investments for which they are responsible or on which they work. In addition to HILP, the organizational structure has affiliates to enhance Hines’ risk management, regulatory compliance, succession planning, financing and tax planning. Generally speaking, HILP and its affiliates are referred to as “Hines.”
Hines was primarily a developer and owner of core U.S. office properties up until the 1980s. In the late 1980s and early 1990s, the company proactively expanded the firm’s core competencies to include acquisitions of existing properties, international development and real estate investment management services.
Since 1991, Hines has sponsored 55 investment vehicles with over $43.9 billion in equity for global acquisition and development. In addition, $14.8 billion of partner capital has been committed to one-off investments. Hines has also closed approximately 387 acquisitions since 1992 totaling more than 151 million square feet and more than $38.6 billion in value.
Since its founding in 1957, Hines has developed, or currently has under development, more than 237 million square feet of office space and more than 95 million square feet of non-office space. The firm came to prominence as a developer of landmark office buildings in major cities across the U.S., revolutionizing the industry by introducing signature architecture for multi-tenant office buildings, and setting higher standards for all aspects of building design, operations and management. Today, the firm’s development competencies include office, multifamily, retail, warehouse, sports and cultural facilities, and large mixed-use projects.
Hines has managed properties since its inception, establishing operational excellence as a core value. While the firm operates a majority of the properties in which it has an ownership stake, some properties—particularly those in Europe—are managed by third parties. In those cases, standards for service, quality and sustainability performance are prescribed in management agreements. Additionally, Hines provides third-party management services for properties owned by others. Today, the firm manages more than 213 million square feet.
- Hines launched its first move into the student housing market globally. Over the year, Hines expanded its student accommodation portfolio to 12 developments in the UK and Ireland.
- Hines partnered with Welltower in the firm’s first venture into the senior living sector in New York.
- Hines created the role of Chief Innovation Officer to serve as an access point for new and innovative ideas and products, helping Hines remain at the forefront of the industry.
- Hines also hired a Chief Compliance Officer in order to enhance the firm’s global compliance programs.
Hines has long been a leader in sustainable design and in promoting sustainability programs around the world. The firm partners with multiple institutions to identify best operating practices and cutting-edge technologies in order to stay in the forefront of building operations, including:
The U.S. Environmental Protection Agency’s (EPA) ENERGY STAR program is the leading energy benchmarking and tracking system in the United States for the commercial real estate sector. ENERGY STAR was introduced by the EPA in 1992 as a voluntary, market-based partnership to reduce greenhouse gas emissions and other pollutants associated with energy use. The ENERGY STAR was label extended to office buildings that perform in the top 25 percent of the market in 1999.
Urban Land Institute
The Urban Land Institute (ULI) is a nonprofit education and research institute to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide. Several Hines leaders have helped shape ULI’s sustainability programs, and the ULI/Gerald D. Hines Student Urban Design Competition is in its 14th year.
ULI Greenprint Center for Building Performance
Hines is a founding member of the ULI Greenprint Center for Building Performance (formerly Greenprint Foundation), a worldwide alliance of real estate owners and investors committed to reducing carbon emissions in the commercial building sector. In 2016, Hines increased the number of properties submitted to Greenprint for benchmarking to 47 properties.
U.S. Green Building Council
The Washington, D.C.-based U.S. Green Building Council (USGBC) is committed to a prosperous and sustainable future through cost-efficient and energy-saving green buildings. It created the Leadership in Energy and Environmental Design (LEED) certification program.
Internationally, Hines has been involved with the German Sustainable Building Council (DGNB), the Russian Green Building Council, the Green Building Council Brasil, the Green Building Council España, the Green Building Council Italia, the Indian Green Building Council, the BRE Environmental Assessment Method (BREEAM) program and the Haute Qualité Environnementale (HQE) program.
The EPA honored Hines with the 2016 ENERGY STAR Sustained Excellence Award in recognition of continued leadership in protecting the environment through energy efficiency. This is the 12th time Hines has been recognized by the EPA and the ninth time Hines has received the Sustained Excellence Award. With an average performance rating of 86.5, the portfolio is 43.4 percent more energy efficient than the national average.