(HOUSTON) – Hines, the international real estate firm, announced today the formation of a Retail Resources Group, effective March 1, 2015, in order to expand the firm’s retail depth and expertise, and to assist all company-wide retail development, acquisition and redevelopment efforts. Hines Managing Director Kenton McKeehan will lead the new group.
Hines has been responsible for the development, acquisition and management of more than 23.6 million square feet of retail space around the world. The firm’s developed retail projects include the renowned Gallerias in Houston and Dallas; Diagonal Mar, the largest shopping complex in Catalonia, Spain; and the first international-brand outlet mall in Russia. Hines also has proven expertise in acquiring upscale malls, lifestyle centers, power centers and grocery-anchored centers.
The firm’s Founder and Chairman, Gerald D. Hines, commented, “Retail has always been an important part of our DNA. Our mixed-use developments get their spirit and energy from the retail component.”
“As we continue to pursue our mission of being the best real estate investor, partner and manager in the world, it is important to expand our retail depth and expertise. Having a centralized resource will help Hines be more efficient in our communication with global retailers and also help implement a best-practices approach relative to retail,” added President and Chief Executive Officer Jeff Hines.
Hines’ commitment to building a strong retail portfolio dates back to the earliest investments of the firm and includes alliances with the most respected anchor and in-line tenants, including fashion merchants, home goods purveyors and restaurateurs.
Since 2012, Hines has been one of the most active buyers of retail power centers. Some recent retail initiatives include:
Development of two of the largest and most important mixed-use urban projects in the world: CityCenterDC in Washington, DC, and Porta Nuova in Milan
 Inauguration of the Outlet Village brand in Russia, with additional outlets on the way in Moscow and St. Petersburg
“Hines’ investment management strategy includes significant positions in many parts of the retail sector. With our past history and successful execution, we are uniquely qualified to evaluate, acquire and add value to retail assets in all categories in the U.S. and internationally,” noted McKeehan.
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s portfolio of projects that are completed, acquired or underway includes 1,163 properties representing more than 389 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 402 properties totaling 170 million square feet, which includes 96.5 million square feet for third parties. With offices in 121 cities in 19 countries, and controlled assets valued at approximately $30.7 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.
