Hines Interests Limited Partnership is a private company that invests and develops real estate.
The Company has developed, re-developed or acquired 1,262 properties, comprising more than 414 million square feet. The company currently manages 529 properties consisting of 213 million square feet. The company is present in 201 cities in 21 countries.
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History
The company was founded in 1957 by Gerald D. Hines.
In 1966, the company entered into a contract with Royal Dutch Shell as the principal tenant of the 50-story building it constructed.
In March 2006, the Hines Real Estate Investment Trust acquired 897,000 square feet of office buildings in Chicago for $ 247.3 million.
In December 2006, a subsidiary of Hines Real Estate Investment Trust acquired a 9-building portfolio in Redmond, Washington for $ 217 million.
In November 2008, Hines Real Estate Investment Trust acquired a 70% stake in 12 shopping centers owned by Weingarten Realty Investors.
In July 2009, the corporate partnership and Sterling handed over a 542,000 square foot office building in San Francisco to lenders.
In October 2010, Hines Global REIT acquired office towers in Minneapolis for $ 180 million.
In December 2010, the company sold 2% of its shares in 9 buildings including Safeco Plaza (Seattle) to its joint venture partner, CalPERS.
In April 2011, the company embarked on the development of CityCenterDC on the site of the former convention center in Washington D.C.
In August 2012, a subsidiary of Hines Global REIT acquired the headquarters of the Old Navy in San Francisco for $ 180 million.
In May 2013, the company sold a building in Washington D.C. to the Liberty Property Trust for $ 133.5 million.
In November 2013, a team led by the company was selected as the main developer of Walter Reed Army Medical Center.
In December 2013, Hines Global REIT acquired a property in Washington, D.C. with a price of $ 141.9 million.
In April 2016, in partnership with Welltower, the company acquired a site in Midtown Manhattan and commenced the development of a 15-storey senior living facility.
In August 2016, a subsidiary of Hines Real Estate Investment Trust sold property in South Florida for $ 27.59 million.
In February 2016, the company acquired a 345,000 square foot office complex in Bethesda North, Maryland from JBG Smith.
In June 2016, the company announced that Hines Real Estate Investment Trust Inc. will liquidate.
In November 2016, Hines Real Estate Investment Trust sold 7 office properties on the West Coast of the United States to affiliates of The Blackstone Group for $ 1.162 billion, selling office properties in Bellevue, Washington for affiliates from AEW Capital Management for $ 193 million, and sold Wells Fargo Center (Sacramento), the tallest building in Sacramento, Starwood Capital Group for $ 175.5 million. The company also began construction of an area of ​​327,000 square feet in Houston.
In March 2017, the company, in partnership with Oaktree Capital Management, acquired property in the East Bay (San Francisco Bay Area) for $ 108.9 million. The company also opened a luxury 24-floor apartment complex, 233 units in Houston.
In April 2017, the company acquired a 2.2 million square foot distribution center in La Porte, Texas from BlackRock.
In May 2017, the company announced plans for a mixed-use development of 600,000 square feet in Miami. The company also announced a 700,000 square foot development plan in Atlanta in partnership with Invesco.
In July 2017, Hines Global REIT sold an apartment complex in Miami for $ 100 million.
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References
Source of the article : Wikipedia
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