Intelligent Real Estate Investments - Hines

Qatar Holding Invests in Porta Nuova Project in Italy with Hines Italia SGR

(Milan) — Qatar Holding LLC and Hines Italia SGR S.p.A. announced today a strategic partnership in Italy for the Porta Nuova project in Milan, managed by Hines Italia SGR.

Porta Nuova represents one of the most prestigious city center mixed-use developments in Europe with a market value in excess of € 2 billion. The project is transforming the city of Milan by creating a new central district. The central building of Porta Nuova Garibaldi, which is leased to Unicredit, is Italy’s tallest structure and a new beacon for the city.

Qatar Holding will acquire, through a subscription of newly issued units, an ownership interest of approximately 40 percent while the remaining 60 percent will continue to be owned by the current sponsors. The Porta Nuova project is financed by Intesa San Paolo, Unicredit, Hypothekenbank Frankfurt , Banca Popolare di Milano and Monte dei Paschi di Siena.

Qatar Holding’s investment in Porta Nuova further diversifies its global portfolio in general and increases its participation in the Italian real estate market in particular. The landmark project is expected to have a transformative impact for Milan and create value for all stakeholders.

Jeff Hines, Hines President and CEO, said “Porta Nuova represents one of the most important developments for the firm and for our investors. Hines has invested in the future of Italy not only Porta Nuova, but also with the creation of a significant in-country investment management platform.”

Manfredi Catella, Hines Italia SGR CEO, said “The partnership with Qatar Holding represents a strategic step for our investors and for Hines Italia SGR and confirms Porta Nuova as one of the most attractive investments in Italian real estate. Italy’s territory is one of the most important natural resources of the country that can support economic growth in the future.”

Qatar Holding

Qatar Holding, a wholly-owned subsidiary of Qatar Investment Authority, is a global investment institution and a preferred partner of choice for investors, financiers and other stakeholders. Key investments of Qatar Holding include Agricultural Bank of China, Barclays plc, Canary Wharf Group (via Songbird Estates), Costa Smeralda resorts, Credit Suisse Group, Harrods Group, Hassad Food Company, Iberdrola SA, J Sainsbury plc, London Stock Exchange, Lagardere, Porsche, Qatar Exchange, Qatar Telecom, Qatar national Bank, Santander Brasil and Volkswagen AG. For further information: www.qatarholding.qa

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 1,273 properties representing more than 514 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments. Currently, Hines manages 406 properties totaling 148.5 million square feet, which includes 78.3 million square feet for third parties. With offices in 113 cities in 18 countries, and controlled assets valued at approximately $24.3 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 LEED®, ENERGY STAR®, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems. Visit www.hines.com for more information.

Hines began operations in Italy in 1999 in partnership with the Catella family which has been active in the marketplace since 1973 with the real estate company Coima.

In 2007 Hines Italia SGR was formed with the objective of becoming a leading domestic investment manager. Currently Hines Italia SGR manages 11 institutional funds with assets managed in Milan, Rome and secondary cities for a total of €3 billion, making it the largest international fund manager in Italy. In the last 24 months, Hines Italia SGR has raised in excess of €700 million from Italian and international investors with further growth expected by leveraging on the consolidation of the investment management sector.

Hines Italia SGR ownership includes Hines (67%) and participation by CEO Manfredi Catella (10%), Unipol (18%) and Francesco Micheli (5%).