(LONDON) — Hines, the international real estate firm, is significantly expanding its asset management business in Europe through a mandate from a German pension fund to manage eight mixed-used properties.
With a total leasing space of around 61,000 square meters, Hines will be responsible for the asset management and development of:
· Three assets in Berlin (Leipziger Platz, Jägerstraße and Potsdamerstraße)
· One in Hamburg (Museumsstraße) and Düsseldorf (Karlstadt Carré)
· Two properties in Vienna (Kärntnerstrasse and Mariahilfer Strasse)
· 223 Rue Saint-Honoré in Paris
The Hines France office will resume management of 223 Saint-Honoré in Paris, home to numerous offices and two luxury retail shops: Paule Ka and Paul Smith. This asset adds to the strategic development and management of high-street-retail by the France team, which already manages 114 Champs-Elysées, Marché Saint-Germain and 213 Rue Saint-Honoré with an AUM of €942.6m.
“We’re pleased to announce the expansion of our asset management portfolio in Europe with eight new mandates in attractive locations across Europe. These assets are considered prime real estate in prestigious city centre locations that provide a long-term opportunity and where we aim to deliver sustainable value for our tenants, investors and the surrounding local area,” said Peter Epping, Hines senior managing director and fund manager.“At Hines, we pride ourselves on our extensive local teams who understand the areas they operate in very well. The local focus and significant expertise of asset management and development enables us to pro-actively manage the assets and continuously create value over time.”
All properties in the portfolio are Core Plus and the strategic focus on mixed-use buildings ensures a diverse tenant mix.
Since entering Europe in 1991, Hines has grown its European platform to include a presence in 49 cities in 11 countries and currently has €20.9 billion of assets under management in Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Spain and the United Kingdom.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 205 cities in 24 countries. Hines has approximately $133.3 billion of assets under management, including $71 billion for which Hines serves as investment manager, including non-real estate assets, and $62.3 billion for which Hines provides third-party property-level services. The firm has 165 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,393 properties, totaling over 459 million square feet. The firm’s current property and asset management portfolio includes 539 properties, representing over 232 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most respected real estate organizations in the world. Visit www.hines.com for more information.