Intelligent Real Estate Investments - Hines

Hines Hired By Mitsui Fudosan America, Inc. to Manage 1251 Avenue of the Americas in NY

(NEW YORK) – The New York office of Hines, the international real estate firm, announced today that it has been retained as property manager for 1251 Avenue of the Americas by building owner Mitsui Fudosan America, Inc. The 54-story, 2.3 million-square-foot International Style office tower is located on the western edge of Rockefeller Center.

Hines Senior Vice President Tommy Craig said, “We are pleased to build on our relationship with Mitsui Fudosan, as well as expand our presence in Manhattan with this high-profile assignment.”

“Our entire New York team is energized by the opportunity to provide quality property management services for this trophy asset,” said Hines Vice President Scott Murray.

“In addition to adding value to ownership through our management expertise, we will focus on delivering best-in-class tenant services.”

“We chose Hines to manage 1251 Avenue of the Americas because of their selectivity in seeking new assignments, and their commitment to continuously improve performance and satisfaction levels that we strive for in all of our properties,” said Christopher N. Perez, senior vice president of Mitsui Fudosan America, Inc.

1251 Avenue of the Americas was developed in 1972 by The Rockefeller Group and Exxon Corporation for Exxon’s global headquarters.

In 1986, the building was purchased by Mitsui Fudosan, which embarked on a multi-year renovation program to bring the building into the 21st century, and to better serve its corporate and institutional tenants.

Currently, the building is more than 99 percent leased to a prestigious tenant roster including: The Bank of Tokyo-Mitsubishi-UFJ; Consulate General of Canada; DLA Piper;

Merrill Lynch; Mizuho Corporate Bank; Natixis Bank; Rothschild Inc.; Sandler O’Neill; Trust Company of the West; and UBS AG.

Mitsui Fudosan America, Inc., the U.S. subsidiary of Japan’s largest real estate company, Mitsui Fudosan Co., Ltd., is a real estate investment and development company headquartered in New York.

The company’s history in the U.S. market began in the early 1970s with, among others, its acquisition and re-development of the renowned Halekulani Hotel in Waikiki, Hawaii.

Subsequent investments were made in Los Angeles, New York, San Francisco, Washington, D.C. and Chicago.

Mitsui Fudosan America’s flagship commercial property, located in Rockefeller Center at 1251 Avenue of the Americas in New York, is one of the city’s most prestigious addresses.

For further information, visit www.mfamerica.com.

Hines has been active in New York City since 1981, having developed six major buildings in midtown, including Philip Johnson’s “Lipstick Building” at 885 Third Avenue. Hines was the developer of 40 Mercer and the recently completed One Jackson Square in Greenwich Village. On the acquisition front, Hines purchased three major office buildings in New York, including I.M. Pei’s 499 Park.

With the addition of this assignment, the firm manages 12.9 million square feet of office space in the tri-state area.

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 1,119 properties representing more than 459 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 17 countries, and controlled assets valued at approximately $23 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in the LEED®, ENERGY STAR®, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems. Visit www.hines.com for more information.