{"id":1004161707,"date":"2016-12-14T00:53:30","date_gmt":"2016-12-14T08:53:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004161707"},"modified":"2022-12-08T07:03:19","modified_gmt":"2022-12-08T15:03:19","slug":"executive-of-the-year-spotlight-jeff-hines","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/executive-of-the-year-spotlight-jeff-hines\/","title":{"rendered":"Executive of the Year Spotlight: Jeff Hines"},"content":{"rendered":"

By Sanyu Kyeyune<\/p>\n

\"Jeff

Jeff Hines (pictured<\/i>) received Honorable Mention for the 2016 Developer of the Year\/Office Property Executive of the Year award.<\/p><\/div>\n

This article is one in a series of short profiles highlighting recipients of CPE’s Executives of the Year awards. Celebrating its 20th year, the program recognizes the contributions of commercial real estate’s top executives across all major business sectors and asset types.<\/em><\/p>\n

First-place winners and honorable mention awardees\u00a0are chosen by a confidential vote of the\u00a0CPE 100, an invited group of industry\u00a0leaders.<\/em><\/p>\n

Today’s installment provides an update to Hines’ march forward into the European high-street retail sector.<\/p>\n

Honorable Mention:\u00a0Developer of the Year\/Office Property Executive of the Year<\/strong><\/p>\n

Jeff Hines,\u00a0<\/strong>President & CEO, Hines<\/p>\n

Headquarters:\u00a0<\/strong>Houston<\/p>\n

Years as president:\u00a0<\/strong>26<\/p>\n

Growth spurts:\u00a0<\/strong>During his tenure,\u00a0Hines helped establish the company’s REIT arm, overseeing its first $846 million Emerging Markets Fund, which provided startup capital for projects in emerging global markets.<\/p>\n

Hines\u00a0by the numbers: <\/strong>Hines operates in\u00a0192 cities in 20 countries with $93.2 billion of assets under management, including $47.9 billion for which Hines serves as\u00a0fiduciary investment manager\u00a0and $45.3 billion for which Hines provides third-party\u00a0services at the property level. Its portfolio totals\u00a0483 properties, representing over 199 million square feet.<\/p>\n

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European retail expansion:\u00a0<\/strong>After a number of successful separate account ventures with German pension funds,\u00a0Hines was tapped\u00a0in January<\/a> by Germany’s largest pension fund, BVK, to execute a $1.4 billion\u00a0separate account program targeting prime retail assets across Europe. Hines also announced its massive value-add initiative for the retail assets, including rental review, new leasing measures and\u00a0repositioning, in addition to conversions and ground-up developments.<\/article>\n<\/div>\n<\/section>\n

Karl Johans Gate:<\/strong>\u00a0Hines kicked off the year\u2013and its grand plan to expand its European retail presence\u2013with the acquisition of a 54,895-square-foot historic building\u00a0in central Oslo. The trophy asset, located at 45 Karl Johans Gate, was acquired through a sale-leaseback transaction valued at\u00a0$56.2 million.<\/p>\n

Big moves in Barcelona:<\/strong> Later in January, Hines snatched up a prime retail center<\/a> in Barcelona, where the company first made headway with an 82-acre land grab in 1996. Located in the heart of the city\u2019s Gothic Quarter, the 12,916-square-foot retail center, called Arcs 10, commanded a price of\u00a0$41.6 million.<\/p>\n

Getting into Glasglow:<\/strong> In May, Hines added its first United Kingdom acquisition<\/a>\u00a0to the European high-street retail portfolio. Purchased in an off-market transaction for an undisclosed amount, the company selected the asset based on its central location in Glasgow’s retail core.<\/p>\n

Multifamily foray:<\/strong> Hines chose\u00a0the Las Vegas suburb of Henderson, Nev., for its first-ever multifamily acquisition<\/a> in February of this year.\u00a0Built in 2014, the\u00a0308-unit, Class A apartment community was 95 percent occupied upon purchase, offering residents a mix of one-, two- and three-bedroom units and townhomes in an array of\u00a025 two-story buildings clad with amenities.<\/p>\n

While it was Hines’ first multifamily purchase, the acquisition actually came five years after Hines launched its U.S. multifamily platform in 2011. Since then, the firm has upped its investment\u00a0in the product type to nearly $3 billion. In addition, Hines has completed 10 apartment communities comprising\u00a02,687 units, with an additional 14 projects underway representing 5,084 units.<\/p>\n

In the pipeline:<\/strong> Currently Hines has 105 developments underway globally.<\/p>\n","protected":false},"excerpt":{"rendered":"

Industry veteran Jeff Hines received Honorable Mention for the 2016 Developer of the Year\/Office Property Executive of the Year award.<\/p>\n","protected":false},"author":1245,"featured_media":1004137833,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21791,21808,16,23891,21742,21744,21749],"tags":[32797,33157],"class_list":["post-1004161707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exec-of-the-year","category-featured","category-international","category-national","category-latest","category-people","category-retail","tag-hines","tag-jeff-hines"],"acf":[],"yoast_head":"\nExecutive of the Year Spotlight: Jeff Hines - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/executive-of-the-year-spotlight-jeff-hines\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Executive of the Year Spotlight: Jeff Hines\" \/>\n<meta property=\"og:description\" content=\"Industry veteran Jeff Hines received Honorable Mention for the 2016 Developer of the Year\/Office Property Executive of the Year award.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/executive-of-the-year-spotlight-jeff-hines\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-12-14T08:53:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T15:03:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/02\/Jeffrey_Hines_800x6001-e1456413289204.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"548\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Sanyu Kyeyune\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/executive-of-the-year-spotlight-jeff-hines\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/executive-of-the-year-spotlight-jeff-hines\/\",\"name\":\"Executive of the Year Spotlight: Jeff Hines - 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