(TORONTO) – Hines, the global real estate firm, today announced the formation of an investment vehicle focused on real estate investment and development opportunities dedicated to key Canadian investment markets – Toronto, Vancouver, Montreal, and Calgary. The venture was formed to develop and acquire up to C$2 billion of gross asset value.
Hines brings two decades of experience investing in Canada and a team of over 100 professionals to source and execute investments on behalf of the venture. This is the second Canadian focused investment and development venture sponsored by Hines.
“There are significant opportunities to invest in the highest-quality assets in the Canadian market. The venture will provide us with the flexibility to utilize decades of experience and our relationships to source and execute future-focused investment strategies across the risk spectrum,” said Alfonso Munk, Hines chief investment officer, Americas.
“Over the past two decades in Canada, Hines has built a track record that gave our investor partners confidence that we can be a robust fiduciary of their assets and deliver strong risk-adjusted returns,” said Avi Tesciuba, country head of Canada for Hines. “Canada offers a stable investment climate and with this capital at our disposal, we can act quickly and scale faster than ever, working with our local partners to bring the talent and the capital to get projects realized.”
Hines will pursue strategies across the product spectrum with a targeted emphasis on placemaking for diverse asset types including mixed-use developments, differentiated multifamily rental residential communities, and hospitality-forward office projects. Hines’ focus on high quality developments and Class A service has enabled the firm to produce distinguished returns across Canada.
Since the launch of its Canadian operations in 2004, Hines has developed, acquired and/or managed over 14 million square feet of signature projects representing a wide variety of product types -- from city-defining office buildings to retail, residential and mixed-use developments. With offices in Toronto, Vancouver, Calgary and Edmonton, the 110-person team’s track record of economic value creation, investment stewardship, engineering excellence, advanced building design technology and architectural achievement continues to attract leading investors, clients and partners to help reshape Canada’s skylines.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 285 cities in 28 countries. Hines oversees investment assets under management totaling approximately $90.3 billion¹. In addition, Hines provides third-party property-level services to 373 properties totaling 114.2 million square feet. Historically, Hines has developed, redeveloped or acquired approximately 1,530 properties, totaling over 511 million square feet. The firm currently has more than 198 developments underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a foundational commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world. Visit http://www.hines.com for more information.
¹Includes both the global Hines organization as well as RIA AUM as of December 31, 2021.