Hines Interests Limited Partnership

845 Texas Avenue, Suite 3300, Houston, Texas, 77002, United States

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About Hines Interests Limited Partnership

Summary

Hines Interests Limited Partnership is a privately held American real estate investment, development, and management firm headquartered in Houston, Texas. The company operates globally, with a presence in 30 countries, and manages a diversified portfolio across office, residential, retail, industrial, and mixed-use properties.

As of 2023, Hines has developed, redeveloped, or acquired more than 1,600 properties, covering over 540 million square feet. It currently manages 685 properties comprising 216 million square feet. By 2024, the firm’s total assets under management reached $93.2 billion, positioning it among the largest real estate investment managers worldwide.

The company engages in multiple aspects of the property sector, including development, acquisitions, property management, and investment management. It collaborates with institutional investors, pension funds, and global partners to finance and operate large-scale projects. Hines is also recognised for its focus on sustainability and innovation, having contributed to standards such as LEED and undertaken pioneering developments in timber construction and energy-efficient buildings.

Its investment platform includes region-specific and global funds. In Asia, it manages the Hines Asia Property Partners (HAPP). In Europe, it operates the Hines European Core Fund (HECF), Hines European Property Partners (HEPP), and Hines European Real Estate Partners 3 (HEREP 3). In North America, the company manages the Hines U.S. Property Partners (HUSPP) and the Hines U.S. Property Recovery Fund (HUSPRF). Additionally, Hines oversees the Hines Global Income Trust, founded in 2014, which invests in commercial properties across North America with a portfolio valued at $3.9 billion in 2024.

History

Hines Interests Limited Partnership, originally named Gerald D. Hines Interests, was founded in Houston, Texas, in 1957 by Gerald D. Hines, an American real estate developer with a background in mechanical engineering. Hines had moved to Houston in 1948 for work, and the company began as a side business to an engineering partnership.

Between 1957 and 1967, the firm developed approximately 69 new office or warehouse buildings, along with retail and residential projects. Its first large-scale commercial development came in 1967, when Shell Oil Company commissioned Hines to construct a new downtown Houston headquarters. The project, One Shell Plaza, opened in 1971.

This was followed by major developments including The Galleria, Pennzoil Place, Williams Tower, and the Texas Commerce Tower (now JPMorgan Chase Tower), which opened in 1982 and remains the tallest building in Texas. Over time, the firm completed more than 900 projects during this period.

Hines expanded internationally in 1989 with projects in Spain, Italy, Germany, and the United Kingdom. In 1990, Gerald Hines’ son, Jeffrey, became president, leading the company into further global markets. During the 1990s, the company also developed its own standards for indoor air quality, which influenced rules later introduced by the United States Environmental Protection Agency.

In 2003, Hines established the Hines Real Estate Investment Trust (Hines REIT). By 2005, the Lipsey Company recognised it as one of the world’s largest real estate firms. Many of its developments were designed by leading architects, including I. M. Pei, Cesar Pelli, Frank Gehry, and Robert A.M. Stern. In 2006, the company contributed to the development of the LEED building standards.

In the 2010s, Hines worked on notable projects such as CityCenterDC in Washington, D.C., beginning in 2011, and the redevelopment of the Walter Reed Army Medical Center, where Hines was chosen as master developer in 2013. Between 2013 and 2016, the firm led a speculative development known as “Timber, Transit & Technology” (T3), completing a seven-storey, 224,000 square foot timber office building in 2016, described as the first modern office building of its scale in the United States to be made mainly of timber.

In 2019, Hines partnered with the Abu Dhabi Investment Authority (ADIA) to fund Conscient Infra’s residential development “Conscient Hines Elevate” in Gurgaon, India, for INR 400 crore. That same year, it announced the development of the 678-foot, 51-storey South Station Tower in Boston.

Founder Gerald Hines passed away on 23 August 2020 at the age of 95. Following his death, Jeffrey Hines became chairman while retaining his role as chief executive officer. In December 2020, the firm entered into a joint venture with the National Pension Service of Korea to focus on build-to-core properties in the United States. In 2021, Hines, alongside Ivanhoé Cambridge, opened the first of two towers at CIBC Square in Toronto, a 3 million square foot development.

After 40 years headquartered in Williams Tower, Hines moved to Texas Tower in late 2021. The new headquarters has 47 floors and 1 million square feet of office space. In 2022, Jeffrey Hines’ daughter, Laura Hines-Pierce, became co-chief executive officer alongside her father. In the same year, the company topped out the Salesforce Tower in Chicago, a 57-storey development.

In July 2024, Hines and the Tampa Bay Rays received approval from Pinellas County commissioners to redevelop 65 acres of land in St. Petersburg’s Historic Gas Plant District, including the construction of Gas Plant Stadium, a $1.3 billion baseball stadium to replace Tropicana Field. The plan also includes a $50 million joint commitment from Hines and the Rays for at least 5,000 residential units, small business assistance, job creation, education programmes, and $10 million for a new Dr. Carter G. Woodson African American Museum. The full development is expected to involve $6.5 billion in public and private investment.

As of 2024, Hines remains a global real estate investment and development firm with operations across 30 countries, $93.2 billion in assets under management, and more than 1,600 properties developed, redeveloped, or acquired.

Portfolio

By 2023, the company had developed, redeveloped, or acquired more than 1,600 properties, comprising over 540 million square feet. It currently manages 685 properties covering 216 million square feet across 30 countries. As of 2024, its assets under management stood at 93.2 billion US dollars. Overall, Hines oversees approximately 850 properties with a combined 290 million square feet of space.

The firm invests across multiple sectors including office, residential, retail, industrial, and mixed-use developments. Through the Hines Global Income Trust (HGIT), established in 2014, it holds a diversified portfolio valued at 3.9 billion US dollars as of 2024. As of April 2024, HGIT consisted of 151 buildings with sector allocation of 36 per cent industrial, 29 per cent residential or living, 17 per cent office, 9 per cent retail, and 9 per cent other uses. Geographically, 71 per cent of the HGIT portfolio is in the United States and 29 per cent in international markets including the United Kingdom, Ireland, Germany, Poland, Spain, the Netherlands, and the Czech Republic.

Notable assets include the I-70 Logistics Centre in Ohio, Central City Coventry in the United Kingdom, Bassett Technology Park in California, Diridon West in San José, Queen’s Court Student Residences in Reading, the IBM 500 Campus in North Carolina, 200 Park Place in Houston, Waverly Place in North Carolina, and Rookwood in Ohio. The portfolio also includes Burbank Media Studios in California.

The company operates a wide range of investment funds and strategies. In the United States, its Hines U.S. Property Partners (HUSPP) fund serves as a flagship core-plus fund. By mid-2024, HUSPP had acquired Class A multifamily projects such as The Lenox & Quinn and The Rise in Jersey City. In Asia, Hines manages the Hines Asia Property Partners (HAPP), and in Europe, its active funds include the Hines European Core Fund (HECF), Hines European Property Partners (HEPP), and Hines European Real Estate Partners 3 (HEREP 3). These funds invest in diversified portfolios across residential, logistics, office, retail, and mixed-use properties.

Recent transactions highlight Hines’ continuing expansion. In July 2025, it acquired a build-to-rent residential complex of 531 apartments in Madrid’s Cuatro Vientos district for 155 million euros. This was described as one of the largest single-asset rental housing transactions in Southern Europe. In Australia, the company partnered with the Ontario Teachers’ Pension Plan to acquire two build-to-rent towers in Brisbane for 350 million Australian dollars. In India, Hines entered into a joint venture with the Kanakia Group, as well as Sumitomo Corporation and Mitsubishi Estate, to develop a 3,000 crore rupee (approximately 360 million US dollars) premium office project in Mumbai’s Bandra Kurla Complex. The project will span 1.5 million square feet.

Leadership Team

Jeffrey C. Hines | Chairman and Co-Chief Executive Officer
Laura Hines-Pierce | Co-Chief Executive Officer
Adam Hines | Chief of Staff, Office of the CEO
David L. Steinbach | Managing Partner, Global Chief Investment Officer
Steve Luthman | Managing Partner, Global Head of Real Estate
Keith H. Montgomery | Managing Partner, Global Chief Financial Officer
Stephanie Biernbaum | Managing Partner, Global Head of Human Resources
Christine Delucchi | Managing Partner, Global Head of Marketing and Communications
Lars Huber | Managing Partner, Head of Europe
Christopher D. Hughes | Managing Partner, Global Head of Capital Markets
Ray Lawler | Managing Partner, Head of Americas
Alfonso Munk | Managing Partner, Co-Head of Investment Management
Chiang Ling Ng | Managing Partner, Co-Head of Investment Management
Jon Tanaka | Managing Partner, Head of Asia Pacific and Co-Head of Japan
Doug Donovan | Senior Managing Director, Global Head of Investment Risk
Joshua Scoville, CFA | Senior Managing Director, Global Head of Research

References

Hines: Global Real Estate Investment Manager | Hines Interests Limited Partnership
Hines (company) | Wikipedia
Hines | LinkedIn
Hines Interests LP | Bloomberg
Hines Real Estate Investment Trust, Inc | SEC.gov
Hines Interests Limited Partnership | DC Chamber of Commerce
Hines – Overview, News & Similar companies | ZoomInfo

845 Texas Avenue, Suite 3300, Houston, Texas, 77002, United States

Website https://www.hines.com/

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