LEADERSHIP

Mr. Hines founded his namesake firm in Houston in 1957. Since then, Hines has steadily grown into a global powerhouse in real estate investment, development and management. As a co-owner, along with his son Jeffrey, he leads the firm's Executive Committee, participates in new business and investor relationships and advises the firm's regions on architectural excellence. He is a frequent guest lecturer at major universities and a sought-after speaker at industry events. He graduated from Purdue University with a BS in Mechanical Engineering and later received an honorary doctorate from the school. Hines is a recipient of the J.C. Nichols Prize for Visionary Urban Development and an honorary Fellow of the American Institute of Architects. Among his proudest accomplishments are the support of the Gerald D. Hines College of Architecture at the University of Houston and the establishment of the ULI/Gerald D. Hines Student Urban Design Competition.

Mr. Hines joined the firm in 1982. He is the co-owner, President and Chief Executive Officer of Hines, responsible for overseeing all firm policies and procedures as well as day-to-day operations. He is also a member of Hines' Executive Committee and chairs the firm's Steering Committee. He became president in 1990 and has overseen a major expansion of the firm's personnel, financial resources, domestic and foreign market penetration, and products and services. He has led the development of the firm's domestic and international acquisition program and currently oversees a portfolio of approximately 227 projects valued at approximately US$ 23.8 billion. He graduated from Williams College with a BA in Economics and received his MBA from Harvard Business School.

Mr. Johnson joined Hines in 1978. As the most senior executive in Hines' Office of Investments, he is responsible for investments and chairs the firm's Strategy Committee. He is a member of the firm's Executive Committee and investment committees. Mr. Johnson served as CFO from 1992 until 2012, and prior to that led the development or redevelopment of numerous projects. He initiated the Hines acquisition program and the firm's investment management business. Mr. Johnson graduated from the Georgia Institute of Technology with a BS in Industrial Engineering and received his MBA from Harvard Business School.

Charles M. Baughn

Chief Financial Officer

Mr. Baughn joined Hines in 1984. He serves as a senior managing director and the firm's Chief Financial Officer responsible for overseeing Hines' operating business including central services, balance sheet-related activities and bank and other debt financing. He is a member of Hines' Executive Committee. During his tenure at Hines, he has led the firm's Capital Markets Group, orchestrated its entry into retail securities and contributed to the development or redevelopment of over nine million square feet (836,120 square meters) of quality real estate. He graduated from the New York State College of Ceramics at Alfred University with a BA and received his MBA from the University of Colorado. Mr. Baughn is a registered representative of Hines Securities, Inc., an affiliate of Hines that is registered as a broker dealer, and holds Series 7, 24 and 63 licenses.

Mr. Owens joined Hines in 1973. He serves as senior managing director and Chief Risk Officer for Hines investments worldwide. Mr. Owens serves as a member of the investment committee of all Hines funds as well as the Hines Investment Committee for company projects and joint ventures. He is a member of the Hines' Executive Committee. He has been directly responsible for the development of more than seven million square feet (650,320 square meters) of office and retail space representing approximately US$ 1.5billion and has been a member of the Allocation Committee since 2002. Mr. Owens was fund manager for the Hines Suburban Office Venture, L.L.C., Hines 1999 U.S. Office Development Fund, L.P., Hines 1997 U.S. Office Development Fund, L.P. and HMS Office, L.P., all of which have been monetized. In addition to fund management, he has extensive experience in construction and project management, asset and portfolio management, and project acquisition/disposition. He graduated from Texas A & M University with a BS in Building Construction and received his MBA from the University of Texas at Austin.

Mr. Hughes joined Hines in 1986. He serves the dual role of CEO of Hines' Capital Markets Group as well as heading the firm's Eastern U.S. region. He is a member of the Hines Executive Committee and the firm's investment committees. He oversees all institutional capital raising activities, structuring of commingled funds and joint ventures. He is also the regional profit center officer responsible for all development activity, acquisitions and operations in the Eastern United States. In the past, he served as a development officer in the firm's Washington, D.C. office specializing in development and acquisitions of real estate. He graduated from Southern Methodist University with a BA in History. Mr. Hughes is a registered representative of the broker dealer, Hines Securities, Inc., and holds Series 22 and Series 63 licenses.

Mr. Shepherd joined Hines in 1982. In 2012, he assumed the role of CEO of Investment Management, Hines’ Office of Investments after having most recently served as Senior Vice President responsible for Hines’ Regional business in Southern California and the Pacific Northwest.  He is a member of the firm’s Executive Committee and investment committees.  Mr. Shepherd chairs the firm’s Investments and Performance Committee and oversees the Investment Management and Research groups. Mr. Shepherd has contributed to the development, acquisitions and operations of more than 21 million square feet of commercial real estate in Los Angeles, Seattle, Salt Lake City, Orange County, San Diego and Houston. He graduated from the Massachusetts Institute of Technology with a BS in Civil Engineering and received his Master of Science in Management MBA from the Sloan School of Management at MIT.

Charles N. Hazen

CEO - REITs and U.S. Office Core Fund

Mr. Hazen joined Hines in 1989. He serves as President and Chief Executive Officer for the Hines U.S. Office Core Fund.  He also serves as President and Chief Executive Officer of Hines REIT and Hines Global REIT. He is a member of Hines’ Executive Committee. During his tenure at Hines, he has participated in more than $10 billion of office, retail and industrial investments in the U.S. and internationally including Hines Corporate Properties, a fund that developed and acquired single-tenant office buildings in the U.S.   Mr. Hazen graduated from the University of Kentucky with a BS in Finance and received his JD from the University of Kentucky.

Jerry Lea is responsible for preconstruction services including budgeting, design, contractor and consultant contract negotiations, and materials purchase for all Hines projects. Since joining the firm in 1981, Mr. Lea has been responsible for consultant selection and contract negotiations, budgeting, scheduling, management of consultants' designs, and contractor and subcontractor bidding and negotiations for over 100 million square feet of office buildings, retail complexes, hotels, sports facilities, clean rooms, performing arts theaters and museums. He is currently responsible for all preconstruction activities for Hines’ domestic projects.

Kay Forbes joined Hines in 1999 to oversee the company’s worldwide tax function and non-real estate investments. In addition to those responsibilities, in 2001 she became head of the Central Finance and Ownership Group. Before joining Hines, Ms. Forbes spent 20 years at Arthur Andersen LLP as a tax department associate and subsequent partner, and was responsible for real estate and tax-exempt clients. Prior to coming to Hines, she spent three years as Rice University's director of private equity investments and associate treasurer, where she was responsible for venture capital, private equity and real estate investments through funds, hedge fund investing, issuance of tax-exempt financing and tax matters. Ms. Forbes earned her Bachelor of Arts in Economics and Political Science and her Master of Accounting from Rice University. She is also a certified public accountant.

Jeanine Hutchens is responsible for the development, administration and oversight of tax policy for Hines in order to minimize the organization's worldwide tax liability. Since joining the firm in 1981 to form a tax department for a domestic division, Ms. Hutchens has been involved in all aspects of tax planning and U.S. compliance for projects in the U.S. and abroad. She is also responsible for the review of major transactions in the formative stages in order to advise and achieve business goals while minimizing tax implications. Ms. Hutchens received her Bachelor of Business Administration in Accounting from Baylor University in 1976 and is a Certified Public Accountant.

Keith Montgomery is responsible for overseeing Hines' worldwide controllership function, and the Central Finance and Accounting and Cash Management groups. Mr. Montgomery joined Hines' Central Finance and Accounting Group in 1997. He assumed increasingly responsible roles both in that group and in oversight of Cash Management, rising to the level of Corporate Controller. Mr. Montgomery was promoted to his current position in 2007, with additional responsibilities for coordination of accounting functions across the firm and for major banking relationships. Mr. Montgomery earned a Bachelor of Business Administration in Accounting from Texas A&M University in 1988 and is a Certified Public Accountant.

David LeVrier oversees the following corporate activities and central functions for Hines and coordinates with the firm's regional business units: aviation, communications, corporate services, human resources, information technology, operations and engineering support, payroll services, and training, and sustainability. Since joining Hines in 1979 and assuming his current responsibilities in 2001, Mr. LeVrier has developed successful initiatives for a workforce that has grown from 900 to 3,300 and from one country to 18. During the first nine years of employment, he worked for Hines' private security subsidiary, SETEC Protection Service, Inc., serving as general manager for SETEC at the time he transferred into Hines' corporate office. During the same time period, he developed effective tenant service programs as general manager of Hines Lock Company – a provider of lock and key materials for the firm's properties. For over 20 years, Mr. LeVrier has managed and coordinated a variety of diverse corporate support functions in several firm-wide initiatives. He was also the primary influence in the formation of Hines Government Services, Inc., which specializes in federal government contracting. He currently serves on the firm's Audit Committee and as Chairman of the Operations Management Committee, Personnel Committee, and Information Technology Steering Committee, and as Co-Chair of the Sustainability Task Force. Mr. LeVrier earned a Bachelor of Science degree in Law from the University of Houston in 1979.

Stephanie Fore is responsible for human resources, payroll, compensation and benefits. Since joining Hines in 1990, she has completed major projects in both accounting and human resources. She now directs the firm's HR activities, including its compensation and benefit programs, 401(k) plan, training and development, employee relations and payroll. In her career, Ms. Fore was instrumental in implementing and integrating PeopleSoft software, assisting in the design of expatriate compensation and benefit programs as the firm expanded into 11 foreign countries, and leading Hines to reorganize its cash management processes and implement an electronic funds transfer system. Ms. Fore received her Bachelor of Business Administration in Marketing degree from Texas A&M University in 1982.

George Lancaster serves as a central resource to Hines offices worldwide in the areas of corporate and project marketing, public relations and promotions. Mr. Lancaster, who joined Hines in 1985, is responsible for internal and external corporate communications, including media relations. He has extensive experience in leasing, property management, tenant construction, and parking and hotel management. Prior to joining the corporate office, Mr. Lancaster worked in the firm's mixed-use division in marketing for the Dallas and Houston Gallerias. He was responsible for the redevelopment and repositioning of Canal Place, a market-dominant, mixed-use center in downtown New Orleans. Mr. Lancaster has been recognized with numerous industry marketing awards including several from the International Council of Shopping Centers. He graduated from Southern Methodist University in 1984 with a Bachelor of Fine Arts in Communications.

Jesse Carrillo is responsible for directing all corporate technology, strategy and standards for Hines worldwide. Joining Hines in 1994 as a consultant to assist in the implementation of the firm's accounting and property management software, Mr. Carrillo became a full-time employee in 1995. He was promoted to Manager of Application Support in 1998, and in 2001 he was promoted to Director of Application Support and Development, where he held the lead IT role in the current Enterprise Resource Planning implementation. He was promoted to his current position in March 2009. Mr. Carrillo completed undergraduate studies at Trinity University, where he earned a Bachelor of Science degree in Computer Science, and received his Master of Business Administration degree from the University of Texas at San Antonio.

Clayton Ulrich is Hines' senior engineering officer focused on providing visionary leadership and direction for Hines' 1,100-member global engineering team. Mr. Ulrich is responsible for the firm's industry-leading standards in operations and maintenance, environmental policy, equipment efficiency, energy management and engineering employee development. His influence provides direction for Hines' 120,000,000 square feet of commercial real estate engineering operations. He obtained his LEED AP designation in 2002. Mr. Ulrich leverages his 35+ years of experience in building operations and energy management technologies to lead Hines' energy management and conservation focus on an annual utility purchase in excess of $215,000,000. His experience with building operations, technologies, equipment, components and systems is instrumental in executing his engineering leadership and site support responsibilities. Hines' domestic and international portfolio encompasses 260 properties in 100 cities in 17 countries.

Ilene Allen is responsible for the management of Corporate Operations Services, which serves as the central support and resource for all Hines' property management locations worldwide. Her department performs operational assessments of all Hines-managed buildings, develops and implements programs, surveys, special projects and training that promote the Hines standard of property management. She also oversees the Central Records Department, where all of the firm's documents are electronically organized and maintained, as well as Corporate Services, the facility group that provides office services to over 400 people at Hines' corporate headquarters. Ms. Allen joined Hines in 1988 where she worked in retail construction, operations and management at the Houston Galleria and First Colony Mall in Sugar Land, TX, before joining corporate. Ms. Allen graduated from the University of Texas at Austin with a Bachelor of Science degree.

Rick Vance is responsible for Hines' global insurance programs and related operations risk management strategies. Since joining Hines in 1983, he has provided insurance and related services to the development and management of the firm's commercial real estate portfolio. Mr. Vance earned a Bachelor of Business Administration in Finance from the University of Texas in 1976.

Gary Holtzer is responsible for coordinating the firm's sustainability efforts worldwide, developing the firm's on-going sustainability strategy together with the Executive Committee as well as the regional and central business units. He oversees the efforts of the Sustainability Advisory Committee and is vice chair of the firm's Risk, Sustainability and Corporate Citizenship management committee. Mr. Holtzer is also the portfolio manager of the HC Green Development Fund which focuses on sustainable development. Since joining Hines in 1985, Mr. Holtzer has had a broad range of operating, transactions, asset and portfolio management responsibilities in more than 12 million square feet of Hines-owned and managed office and retail space. He received a Bachelor of Science in Business Management from State University of New York at Albany in 1978 and was awarded a Master of Science from State University of New York at Albany in 1980.

James C. Buie, Jr.
CEO - West Region, Asia Pacific and Australia

Mr. Buie joined Hines in 1980. He is the regional profit center officer responsible for all development, operations and transactions in the West Region of the United States and in the Asia Pacific Region, representing a cumulative total of more than 70 million square feet (6.5 million square meters) of real estate. He is a member of Hines’ Executive Committee. He graduated from the University of Virginia with a BA in Economics and received his MBA from Stanford University.

Mark A. Cover
CEO - Southwest Region and Hines Mexico/Central America

Mr. Cover joined Hines in 1983. He serves as a senior managing director and is the regional profit center officer responsible for the Southwest Region of the United States; Mexico and Central America, representing more than 20 million square feet (1.85 million square meters) of real estate. He is a member of Hines’ Executive Committee. He graduated from Bob Jones University with a BS in Accounting and is a Certified Public Accountant (retired).

Mr. Hughes joined Hines in 1986. He serves the dual role of CEO of Hines' Capital Markets Group as well as heading the firm's Eastern U.S. region. He is a member of the Hines Executive Committee and the firm's investment committees. He oversees all institutional capital raising activities, structuring of commingled funds and joint ventures. He is also the regional profit center officer responsible for all development activity, acquisitions and operations in the Eastern United States. In the past, he served as a development officer in the firm's Washington, D.C. office specializing in development and acquisitions of real estate. He graduated from Southern Methodist University with a BA in History. Mr. Hughes is a registered representative of the broker dealer, Hines Securities, Inc., and holds Series 22 and Series 63 licenses.

E. Staman Ogilvie
CEO - Eurasia Region

Mr. Ogilvie joined Hines in 1973.  He serves as a senior managing director responsible for development, operations and transactions.  He is regional profit center officer for Eurasia which encompasses Russia and the Former Soviet Union, Central and Eastern Europe, Turkey and India.  He is a member of Hines’ Executive Committee and former co-head of Hines’ Southwest Region.  Mr. Ogilvie has been responsible for the development, acquisition and management of more than 29 million square feet (2.69 million square meters) of commercial real estate as well as several thousand acres of planned community development.  He also has extensive experience in strategic planning and finance. He graduated from Washington and Lee University with a BS in Business Administration and received his MBA from Harvard Business School.

C. Kevin Shannahan
CEO - Midwest & Southeast Regions and Hines South America

Mr. Shannahan joined Hines in 1982. He is the regional profit center officer responsible for all development, operations and transactions in the Midwest and Southeast regions of the United States and in new activities throughout South America and Canada (excluding Vancouver), representing a cumulative total of more than 70 million square feet (5.1 million square meters) of commercial real estate and 5,000 acres of land development. He is a member of Hines’ Executive Committee. He graduated from Cornell University with a BS in Mechanical Engineering and received his MBA from Harvard Business School.

Michael J. G. Topham
CEO - Europe/Middle East Region /including North Africa

Mr. Topham joined Hines in 1975. He is the regional profit center officer responsible for all development, acquisitions, operations and real estate services in Europe, including the firm’s offices in six countries. He is a member of the firm’s Executive Committee. He was responsible for the establishment/management of the United States Midwest Region in 1985 and the development, acquisition and operations of 15.6 million square feet in that region. He has also been responsible as project officer of major buildings in Houston, Denver and Minneapolis between 1977 and 1984. He graduated from Exeter University with a BA in Economics and received his MBA from the University of California at Berkeley.