HINES CAPITAL MARKETS

Charles M. Baughn, Houston, TX
Executive Vice President — Hines
CEO - Capital Markets Group

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

Mr. Hughes joined Hines in 1986. He is a member of the Hines Capital Markets Group. He is responsible for structuring commingled funds and raising equity capital for Hines projects globally. Prior to becoming a member of the Capital Markets Group, Mr. Hughes was a development officer in the Washington, DC office, where he contributed to the development and acquisition of more than 3.6 million square feet of office space. He graduated from Southern Methodist University with a BA in History.

Mary McCarthy, San Francisco, CA
Vice President – Hines

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

Mr. Moore joined Hines in 2000. He is responsible for raising equity capital for Hines initiatives globally and for structuring funds. Prior to joining the Capital Markets Group, he was a senior member of the Hines U.S. Office Value Added Funds dedicated team and had direct involvement in the acquisition, disposition, financing and investment management of real estate assets worth over $2.1 billion. Since joining Hines, Mr. Moore has participated in the development of a 1.1 million square foot office property in midtown Manhattan and was responsible for marketing and leasing the Hines/CalPERS suburban New York portfolio. 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

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 (Middle East/North Africa). 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, based in Houston. Within this group, he is responsible for structuring commingled funds and raising equity capital for Hines programs. He is involved in project dispositions and one-off equity financings.

Mr. Herre has 20 years of experience in the international real estate industry in Europe, the United States and MENA.

Lars Huber, London, UK
Managing Director – Hines Europe

Mr. Huber joined Hines in 1996. He is a member of the Hines Capital Markets Group. Since the beginning of 2007 he is responsible for structuring funds and raising equity capital in Europe for Hines initiatives globally. Prior to becoming a member of the Capital Markets Group, Mr. Huber was a project manager for 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 Mr. Huber relocated to London and took on the responsibility as the fund manager of the Hines European Value Added Fund 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.

Frank Muller, Houston, TX
President Retail Distribution, HInes Real Estate Securities, Inc.

Mr. Muller is President Retail Distribution of Hines Real Estate Securities, Inc. which acts as the Dealer Manager for Hines REIT. He also serves as Vice President of Hines Advisors Limited Partnership.  Mr. Muller has 23 years of financial services experience.  He is a graduate of the University of Texas at Austin with a B.B.A. in accounting.

Prior to joining Hines, he was National Director of Sales for Morgan Stanley’s Investment Management Group in New York City.  Mr. Muller also served as Executive Director for Van Kampen Investments.  

FUND MANAGERS

Charles N. Hazen, Houston, TX
Senior Vice President – Hines; Fund President, Hines U.S. Core Office Fund; President and Chief Operating Officer, Hines Real Estate Investment Trust, Inc. and Hines Advisors Limited Partnership.

Mr. Hazen joined Hines in 1989. He is responsible for the overall management of USCF and Hines REIT. During his tenure at Hines, Mr. Hazen has contributed to the development, management and financing of more than 10 million square feet of retail and office properties valued at more than $2 billion, and managed Hines Corporate Properties, a $1.4 billion 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.

David J. Congdon, Stamford, CT
Senior Vice President – Hines; Fund Manager, Hines U.S. Office Value Added Fund I & II , L.P.

Mr. Congdon joined Hines in 1998. He is responsible for the overall management of USOVAF. Prior to forming USOVAF, he helped develop and implement National Office Partners' investment strategy and managed the investments of NOP in Chicago and on the East Coast, with portfolio management responsibilities for a portion of NOP’s $2.5 billion investments. Prior to joining Hines, he was an executive vice president with Lend Lease Real Estate Investments, responsible for the property disposition group. He was also with the real estate investment banking group of Credit Suisse First Boston and the real estate lending group of JPMorgan Chase. He graduated from Trinity College with a BA in Economics in 1982 and received his MBA from the Wharton School of Business at the University of Pennsylvania in 1987.

Carlo Matta, London, UK
Managing Director – Hines Europe; Fund Manager, HCS Interests, L.P., Hines European Development Fund II, L.P.

Mr. Matta joined Hines in 2002. He is responsible for the overall management of HCS Interests, L.P. Mr. Matta worked as a project manager for Hines in Milan where he was responsible for the 1.29 million-square-foot (120,000-square-meter) mixed-use development Garibaldi Repubblica. Prior to joining Hines, Mr. Matta worked as design architect and project architect with Jean Nouvel and Emmanuel Cattani & Associates in Paris, and T.R. Hamzah & Yeang Sdn Bhd in Kuala Lumpur. He worked on projects in Shanghai, Paris, Ho Chi Minh City, Hanoi, Kuala Lumpur, and Zanzibar. Mr Matta graduated in Architecture at the Politecnico di Torino (Italy) School of Architecture, and he received an MBA from the McCombs School of Business at the University of Texas at Austin. Mr. Matta is a registered architect in Italy.

Daniel Rashin, Stamford, CT
Senior Vice President – Hines; Fund Manager, National Office Partners, L.P.

Mr. Rashin rejoined Hines in 2001. He is responsible for the overall management of National Office Partners Limited Partnership (NOP). Mr. Rashin served in a variety of leasing and project management roles with Hines from 1985 to 1994. Before returning to Hines in 2001, he acted as National Head of Office Asset Management for the Yarmouth Group, Chief Executive Officer of Lend Lease Real Estate Investments in Australia and Chief Executive Officer of Lend Lease Real Estate Investments in Europe. During his time at Hines, Mr. Rashin worked on development projects including 53rd at Third in New York, Bristol Myers Squibb in Princeton and Postal Square in Washington, D.C. He was also a part of the bank group on the repositioning and disposition of 1585 Broadway while that asset was in bankruptcy. Mr. Rashin recieved a BA from Williams College and a JD from Harvard Law School.

Mark Sears, London, UK
Managing Director – Hines Europe; Fund Manager, Hines European Development Fund I, L.P.

Mr. Sears joined Hines in 1986. He is responsible for the overall management of HEDF. Mr. Sears has held project management and officer positions in Hines offices in Boston, Prague, Warsaw, Milan and London.  Prior to joining Hines, Mr. Sears was with Jones Lang Wootton Realty Advisors and was in charge of valuation, acquisition and asset management of commercial properties for U.S. pension fund portfolios; and with I. M. Pei & Partners, serving as project architect for office and hotel projects in Houston. Mr. Sears received a B.Arch from Cornell University and an MBA from Harvard University.

Bahram Motamedian, London, UK
Managing Director – Hines Europe; Fund Manager, Hines European Value Added Fund, L.P.

Mr. Motamedian joined Hines in 1995. He is responsible for the overall management of Hines European Value Added Fund. Previously as Investment Officer, Mr. Motamedian had the responsibility of evaluating international real estate investments made on behalf of Hines and its institutional investors as part of Hines global expansion strategy. He has evaluated and financed over 2.5 million square meters of new real estate development and acquisition opportunities for Hines in North and South America, Western and Eastern Europe, and Asia including India. Prior to joining Hines, Mr. Motamedian was a Real Estate Corporate Finance Associate at Kidder Peabody in New York. He holds a BA and an MBA from University of California at Berkeley.

Leo H. Chen, Houston, TX
Senior Vice President – Fund Manager, Emerging Markets Real Estate Funds I and II, L.P.; Portfolio Manager, Hines International Real Estate Fund

Mr. Chen joined Hines in 1980. He is responsible for the overall management of EMREF I, EMREF II, and Hines International Real Estate Fund. He has contributed to the development, operations and transactions of more than 19 million square feet of commercial real estate in Houston, Beijing, Guadalajara, Mexico City, Milan, Moscow, Munich, Paris, Rio de Janeiro, São Paulo and Warsaw. Mr. Chen graduated from Washington University at St. Louis with a BA in Economics and Political Science and received his MBA from the Wharton School at the University of Pennsylvania.

Steve Dolman, Houston, TX
Vice President – Fund Manager, HCB Interests I & II LP, HCM Holdings I & II

Mr. Dolman joined Hines in 1991. He is responsible for the overall management of the firm’s Latin America funds – HCB I and HCB II in Brazil – as well as HCM I, HCM II and HCM III in Mexico. Mr. Dolman held asset management and project management responsibilities in the Midwest and Southeast United States regions from 1991 to 1997. In 1998, he moved to Brazil to establish Hines' South America region and manage the development of office and industrial projects. During his tenure at Hines, Mr. Dolman has contributed to the development, leasing, management and investment of more than 18 million square feet of office, industrial and residential projects valued at over US$2.5 billion. A graduate of the University of Oklahoma with a Bachelor of Business Administration, Mr. Dolman received his Master of Arts and Master of Business Administration from the University of Southern California and his Master of International Management from Thunderbird.

X. Simon Shen, Houston, TX
Vice President – Fund Manager, HCC Interests, L.P.;  Fund Manager, Hines International Real Estate Fund.

Mr. Shen joined Hines in 1997.  He is responsible for the overall management of HCC Interests, L.P.  He also oversees investment underwriting, structuring and financing for Hines International Real Estate Fund and assists in the management of EMREF I & II.  Mr. Shen has contributed to the investment and development of more than 10 million square feet of real estate in China, Russia, Poland, Mexico and Brazil.  Prior to joining Hines, Mr. Shen was with Brown & Root for five years specializing in project management of large engineering and construction projects.  Mr. Shen holds a BS in naval architecture from Shanghai Jiao Tong University and a Master of Construction degree from the University of Florida.  He received his MBA from Northwestern University.