CAPITAL MARKETS GROUP

Charles M. Baughn, Houston, TX
Executive Vice President — Hines
CEO - Capital Markets Group
713-966-2652
Charlie.Baughn@hines.com

Mr. Baughn joined Hines in 1984. He is responsible for overseeing the Capital Markets Group, which raises, places and manages equity and debt for Hines projects. He is also a member of the firm’s Executive Committee. He has contributed to the development or redevelopment of over 9 million square feet of office and special-use facilities in the southwestern United States. He graduated from the New York State College of Ceramics at Alfred University with a BFA and received his MBA from the University of Colorado.

Christopher D. Hughes, Washington, DC
Executive Vice President – Hines
CEO - East Region
202-434-0282
Chris.Hughes@hines.com

Mr. Hughes joined Hines in 1986. He is the regional profit center officer responsible for all development activity, acquisitions and operations in the East Region of the United States, and is a member of the Hines Executive Committee. He has served as a development officer in the firm's Washington, D.C. office and has contributed to the development and acquisition of more than 3.6 million square feet of office space. Mr. Hughes continues to be involved with key Hines investor relationships, structuring commingled funds, joint ventures and raising capital. He graduated from Southern Methodist University with a BA in History.

Mary McCarthy, San Francisco, CA
Vice President – Hines
415-399-6234
Mary.McCarthy@hines.com

Ms. McCarthy joined Hines in 2006. She is a member of the Capital Markets Group. She is responsible for raising capital for Hines initiatives and for structuring funds. Ms. McCarthy began her career in the real estate investment banking department of Morgan Stanley and has worked for real estate investment managers including Copley Real Estate Advisors, ING Clarion Partners and CB Richard Ellis Investors. She graduated from the University of Virginia with a BS in Architecture and received Master of Architecture and MBA degrees from The School of Design and The Wharton School, respectively, of the University of Pennsylvania.

Daniel J. Moore, Stamford, CT
Vice President – Hines
203-967-2513
Daniel.Moore@hines.com

Mr. Moore joined Hines in 2000. He is responsible for raising equity capital for Hines initiatives globally and for structuring funds. He is a member of the Capital Markets Group. He has contributed to the acquisition, disposition, financing and investment management of real estate assets worth over $2.1 billion, as well as the development of a 1.1 million square foot office property in midtown Manhattan. Prior to joining Hines, he was a Captain in the U.S. Air Force serving in both the United States and the Middle East. He graduated from the University of Notre Dame with a B.S. in Civil Engineering and received his M.B.A. from The Wharton School of the University of Pennsylvania.

Jürgen E. Herre, Abu Dhabi, UAE
Managing Director – Hines Middle East/North Africa
+44 20 7292 1908
Jurgen.Herre@hines.com

Mr. Herre joined Hines in 2000 as a Managing Director of Hines Europe, based in London. At the end of 2006, he relocated from London to Abu Dhabi to lead the Hines MENA region. He is responsible for all real estate activities within the region, including development, property management and asset management. Additionally, Mr. Herre is a member of Hines' Capital Markets Group, and is responsible for structuring commingled funds and raising equity capital for Hines initiatives. He is involved in project dispositions and one-off equity financings. Mr. Herre has 20 years of experience in the real estate business in Europe, the United States and MENA.

Lars Huber, London, UK
Managing Director – Hines Europe
+44 20 7292 1999
Lars.Huber@hines.com

Mr. Huber joined Hines in 1996. He has been a member of the Hines Capital Markets Group since 2007, and is responsible for structuring funds and other ventures as well as raising equity capital in Europe for Hines initiatives globally. He has contributed to the development of various mixed-use and office development projects in Germany totalling 2.2 million square feet. He headed up the Hines Munich branch until 2004 when he became the fund manager of the Hines European Value Added Fund overseeing focusing on office, residential and retail value-added and development investments in Western Europe totalling over € 800 million of investment volume. He graduated from the European Business School in Frankfurt in 1996 and has been a Member of the Royal Institution of Chartered Surveyors (RICS) since 1999.

Alexander P. Moell, Munich, Germany
Managing Director – Hines Europe
+49 89 1433 3740
Alexander.Moell@hines.com

Mr. Moell joined Hines in 1995. He is Managing Director of Hines' operations in Germany and responsible for all real estate activities in the country including development and asset management. Additionally, Mr. Moell is a member of Hines' Capital Markets Group and responsible for structuring comingled funds and raising capital in German speaking countries for Hines initiatives globally. Mr. Moell has development experience in excess of 2 million square feet. He graduated from the University of Berlin and received his Master of International Business Administration from the Thunderbird School of Global Management.

Andy Smith, London, UK
Associate – Hines Capital Markets Group
+44 20 7292 1970
Andy.Smith@hines.com

Mr. Smith joined Hines in 2007. He is a member of the Hines Capital Markets Group and is responsible for raising equity capital for Hines global initiatives from European and other ex-U.S. investors and for structuring funds. Prior to joining Hines, Mr. Smith worked for two different family office real estate operations in New York and London. He graduated from the University of Pennsylvania with a BA in History and Sociology of Science and received an MBA from the London Business School.

Alexander James, London, UK
Associate – Hines Capital Markets Group
+44 20 7292 5722
Alexander.James@hines.com

Mr. James joined Hines in 2008. He is responsible for raising equity capital for Hines global initiatives. Prior to joining Hines, Mr. James worked for Lehman Brothers in Capital Markets and Real Estate Finance and Dresdner Kleinwort, and independent consultant in capital markets. He graduated from Britannia Royal Naval College and University College, London, with a BS in Astrophysics and received an MBA from the London Business School.

Michael Haas, Munich, Germany
Associate – Hines Capital Markets Group
+49 89 1433 3720
Michael.Haas@hines.com

Mr. Haas joined Hines in 2008. He is responsible for raising capital in German speaking countries for Hines initiatives globally. He holds a degree in business administration (Diplom-Kaufmann) from the International Real Estate Business School, University of Regensberg, Germany, and received his MSc in Real Estate Finance & Investment from the Henley Business School, University of Reading, UK.

Frank Muller , Houston, TX
President – Retail Distribution
Hines Real Estate Investments, Inc.
713-966-5471
Frank.Muller@hines.com

Mr. Muller joined Hines in 2003. As President of Hines Real Estate Investments, Inc., Mr. Muller is responsible for managing Hines' FINRA registered broker dealer as well as working with key Hines distribution relationships. He also serves as a member of the Hines Real Estate Investments, Inc. Board and as Vice President of Hines Advisors Limited Partnership, which manages Hines REIT and Hines Global REIT. Prior to joining Hines, Mr. Muller was National Director of Sales for Morgan Stanley's Investment Management Group in New York City and served as Executive Director for Van Kampen Investments in Chicago. He is a graduate of the University of Texas at Austin with a Bachelor of Business Administration in accounting.