PRESS RELEASES

One Atlantic Center Honored by EPA for Energy Conservation

First Time Landmark Midtown Tower Receives this Prestigious National Recognition

2/19/09

(ATLANTA, GA) – The Atlanta office of Hines, the international real estate firm, announced today that One Atlantic Center was recognized by the Environmental Protection Agency (EPA), earning the ENERGY STAR® label in recognition of outstanding energy conservation.  This is the first time in the landmark tower’s 21-year history that it has received the ENERGY STAR recognition.

One Atlantic Center, located in Midtown Atlanta, is a 50-story office building totaling approximately 1.1 million square feet.  Designed by renowned architects Philip Johnson and John Burgee and situated on 14th and West Peachtree streets, the building tenant roster includes some of the most prominent tenants in the Southeast.  Hines’ U.S. Core Office Fund, L.P., an investment vehicle that acquires a geographically diverse portfolio of core office buildings in the U.S., purchased the property in July 2006, and has implemented many energy-saving initiatives to add value to the asset.  Included in these utility conservation initiatives are: installing variable frequency drives on the air handler units and outside air fans, installing a new Building Management System and several lighting retrofits.  These projects have resulted in an aggregate savings of approximately two million kilowatt hours per year (or 12.5 percent reduction) since purchasing the asset.

“The project’s ENERGY STAR label was achieved through the diligent efforts of our management and engineering personnel and focused on adding value for the building’s tenants, and operating as responsible stewards of our natural resources,” noted Hines General Manager Mark Ferris. 

“Energy management is a top priority for us and our tenants,” said Hines CEO Jeffrey C. Hines. “The ENERGY STAR program is good for our bottom line and good for the environment.”

In 1998, the EPA created the ENERGY STAR label for buildings – the mark of excellence in energy performance – to recognize and promote excellence in strategic energy management, smart business practices and environmental responsibility.  Overall, the primary objective of the ENERGY STAR program is to reduce greenhouse gas emissions.  More than 12,000 organizations have partnered with ENERGY STAR over the past 15 years.  In 2007, the program helped prevent 40 metric tons of CHG emissions and saved more than $16 billion on their utility bills.

Hines has been an active participant in ENERGY STAR since 1999. Today, 130 Hines-owned and/or managed buildings totaling 75 million square feet are ENERGY STAR-labeled.

Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes more than 1,100 properties representing approximately 457 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments.  With offices in more than 100 cities in 16 countries, and controlled assets valued at approximately $25.6 billion, Hines is one of the largest real estate organizations in the world. Visit www.hines.com for more information.