REGIONAL OFFICES

Hines Luxembourg Regional Office

Hines founded the Luxembourg Regional Office in 2003. Luxembourg was chosen as an ideal location from which Hines could ably invest across Europe, including in those countries already managed through Hines’ network of European Regional Offices. Since 2003, the office has grown to service Hines’ newly established pan-European funds.

A Current Regional Initiative

Currently the team of professionals at Hines Luxembourg services the following Hines sponsored funds:

Hines European Development Fund (HEDF) – a closed end US limited partnership investing in pan-European real estate office developments.

Hines European Value Added Fund (HEVAF) – a closed end Luxembourg “fonds commun de placement” (“FCP”) investing in pan-European value added real estate opportunities.

Hines European Core Fund (HECF) – an open ended Luxembourg “fonds commun de placement” (“FCP”) investing in core markets throughout Europe.

Hines Sunbelt Fund (HCSF) – a private investment with an institutional investor focusing on residential and land opportunities in Spain.

Hines International Real Estate Fund (HIREF) – a closed end “fonds commun de placement” (“FCP”) investing in development opportunities in China, Russia, Poland and other emerging markets..

The Luxembourg Office also manages some of Hines’ own investments in Europe as well as provides general financial, tax, legal, accounting and administration services for Hines European Regional offices.

David Braaten Managing Director

David Braaten joined Hines in 1994 as the Regional Controller for Hines Russian operations in Moscow. There, he was responsible in establishing the regional profit centre as well as to structure various property management agreements with third party owners and Hines’ first equity investment in Moscow – Pokrovsky Hills financed by Hines Emerging Markets Fund I. In 1999, Mr. Braaten relocated to Barcelona to establish the operations of the Diagonal Mar commercial retail centre as well as to work on the subsequent sell of the centre in 2001. From Barcelona, Mr. Braaten relocated to London, England as Fund Controller for HEDF. While there he was responsible for establishing the tax structuring, finance, legal, accounting and reporting aspects of HEDF. Currently, Mr. Braaten is based in Luxembourg where he is the Managing Director responsible for the structuring, legal, tax, accounting, and finance for Hines European fund initiatives and Hines Luxembourg operations. Prior to joining Hines, Mr. Braaten was a founding partner of a US based accounting firm. Mr. Braaten is a Certified Public Accountant and holds an International MBA with Russian emphasis from the University of South Carolina and a BS in Accounting from Oklahoma State University.