LEADERSHIP

After joining Hines in 1988, Mr. Timmins worked for a number of years in the southwest United States developing office and mixed-use projects in the Austin, Phoenix, and Albuquerque markets.

In 1993 Mr. Timmins relocated to Moscow and was responsible for Hines’ first joint venture in Eastern Europe. Since 1993 he has developed and managed more than $2 billion of real estate, including the 50,000-square-meter Ducat Place III office development, the 60,000-square-meter Park Place Moscow mixed-use complex, the 145,000-square-meter Logopark warehouse project, and the 38,000 square-meter Outlet Village Belaya Dacha project.

Mr. Timmins also directed the deal structuring and development of Hines’ 45,000-square-meter Pokrovsky Hills residential community and the Anglo-American School in Moscow. As country manager for Russia, he oversees the asset management, development and marketing of a range of projects including the Ducat Place II, Gogolevsky 11, and Donskoy Posad assets.

As Regional Manager for Eastern Europe since 1993, Mr. Timmins has been responsible for the development and asset management of over $2.0 billion of projects and the investment of over $500 million of equity from several private equity real estate funds and partnerships established by Hines.

Prior to joining Hines in 2005, Ms. Maltseva worked 12 years for the Russian offices of multinational companies including Arthur Andersen, Cargill and Microsoft, managing key financial projects, internal finance, taxes, audits and financial restructuring. While at Microsoft, Ms. Maltseva oversaw financial controlling and tax functions for the firm's Russian assets, which were generating over $200 million in revenue annually. She also led the acquisition and business restructuring processes and implemented Sarbanes-Oxley requirements. Ms. Maltseva received a degree in Economics from The Moscow State Technological University, and Master of Business Administration in Finance, Business School Russian Academy of Foreign Trade in 2008.

Mr. Smith joined Hines in 2005 as the Project Manager responsible for the lease out and completion of the Ducat Place III office development in Moscow. He is currently responsible for the management of the Ducat Place III asset and for the development of additional real estate investment opportunities for Hines in the residential and office segments in the Russian Federation. Mr. Smith has been working in Moscow full time since 1993 and is fluent in Russian. He holds a Masters Degree in Business Administration from Columbia University in New York.

Since joining Hines in 2006, Mr. Muzzlewhite has worked on the development of logistics and retail projects in the Moscow Region, as well as on the structuring and management of joint ventures and the procurement of project financing. He has worked in Moscow full time since 2002, originally for DTZ and subsequently for Prologis and TIME Construction Consultancy. Prior to this, he worked for DTZ in London and Paris. Mr. Muzzlewhite is a Member of the Royal Institution of Chartered Surveyors and holds a Bachelors Degree in Land Management from the University of Reading.

Mr. Reynolds is an accomplished construction professional with a 19-year track record of involvement in flagship development projects in both the United Kingdom and Russia, including experience with major European contractors, in the form of AMEC and the HBG Group, as well as international development companies. Mr. Reynolds has been with Hines in Moscow since 2005 and has been responsible for the successful construction of several projects, including Ducat Place III and now an industrial project development just outside of Moscow.

Mr. Reynolds has experience in many areas of development, ranging from commercial office buildings to retail, and from residential to power generation, and is adept at formulating construction methodology to be employed during the construction process, ensuring the “buildability” of design solutions as well as the management of the on-site realization process.