Hines Hired By Union Investment Real Estate to Manage Chilean Portfolio

Assignment Represents Hines' Entrance Into Chile

(SANTIAGO, CHILE) – Hines, the international real estate firm, announced today that it has been chosen by Union Investment Real Estate GmbH to manage four office buildings in Santiago, Chile.

The portfolio, which is well located within the Santiago office market, totals 354,633 square feet. The assignment, which represents Hines’ first entry into Chile, will commence on August 1 and will include the following buildings:

Torre Paris; Bandera 76; Teatinos 254; and the Xerox Building.

The buildings are almost fully leased to major multinational companies and Chilean firms.

“We are proud to build on the relationship we have established with Union Investment in the U.S. and Mexico, and appreciate the confidence entrusting Hines with their Chilean portfolio,” said Hines South America’s Director of Property Management Eduardo Bo.

“While this assignment represents Hines’ first foray into Chile, we hope to expand our presence in this stable, growing real estate market.”

About Union Investment Real Estate GmbH:

Union Investment Real Estate GmbH is part of the Union Investment Group, which is based in Frankfurt, Germany and was founded in 1956. The Union Investment Group is considered to be one of Europe’s leading asset management companies for private and institutional clients.

Total assets under management total more than 176 billion Euros, of which 19 billion is in real estate in 26 countries.

About Hines:

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 1,126 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 106 cities in 17 countries, and controlled assets valued at approximately $23.7 billion, Hines is one of the largest real estate organizations in the world. Visit www.hines.com for more information.