NEWS

January 2009
Hines' Transatlantic Sustainability Expertise Recognised

Hines, the international real estate firm, has been recognised for its sustainability expertise, winning two major U.S. prizes and being selected this month for the shortlist for a UK Sustainability Award.

In one of the first awards for sustainability presented to a fund, Hines REIT has received the prestigious Gold “Leader in the Light” award from the U.S.-based National Association of Real Estate Investment Trusts (NAREIT). The award was made in collaboration with ENERGY STAR® – a joint programme of the U.S. Environmental Protection Agency and the U.S. Department of Energy – and recognises company-wide operations that generate substantially improved energy efficiency and expense management. It was presented during the NAREIT Annual Convention in San Diego, where Hines was the only organisation to attain the highest award.

Jeffrey C. Hines, president of Hines, received the Green Building Design Award at Global Green USA's 9th Annual Sustainable Design Awards. The award was given for Hines' creation of the nation's first green real estate development fund and for the development of numerous sustainable office towers in cities including Atlanta, Chicago, Houston, Milan, Paris , Seattle and Washington, D.C. 

Hines UK has been shortlisted for the Sustainability Award, which will be given at the CoreNet Global UK Chapter Awards in London next month. Hines UK is also working toward its first sustainability report, with a sustainability roadmap and targets expected in early 2009, leading to the publication of the first full performance report in 2010. The report and roadmap were created by Hines UK Director Simon Jenner.

Stephen Musgrave, managing director of Hines UK said, “Hines has a long-term commitment to sustainability – from planning and development to building management. We are committed to delivering energy-efficient developments and increasing efficiency across our entire portfolio. We value this recognition for both funding and development, both in the U.S. and UK.”

With offices in more than 100 cities in 16 countries, and controlled assets valued at approximately $25.6 billion, Hines is one of the world's largest real estate organisations. Hines UK's development pipeline of green buildings stands at around 3.2 million square feet (300,000 square metres), with an investment value of close to £1 billion. Each project is expected to achieve no less than a BREEAM very good rating, and in some cases it is aiming for an outstanding classification.