Hines, the Houston-based developer-cum-fund manager, is growing its European presence by expanding into new geographies and real estate sectors.
The firm announced that it is actively seeking new development and acquisition opportunities in what it deems 'recovering' European markets including: Ireland, Spain, Italy, Greece, Portugal and the Netherlands. The firm will continue to put capital to work in markets such as UK, Germany and France, where it already has a presence.
“The ambition for Hines' European [team] this year is to further strengthen our position in our established markets whilst also selectively entering new interesting markets such as Greece, Portugal, the Netherlands and the Nordics,” said Lars Huber, co-chief executive of Hines Europe.
Hines Europe is working on further expanding into sectors such as high street retail, logistics, multifamily, student housing and hospitality.
Back in January, Hines was appointed by Germany's biggest public pension fund manager, Bayerische Versorgungskammer (BVK), to target prime high street retail properties across 20 countries in Europe through a €1.3 billion separate account.
“Hines is benefiting from a deep pool of funds, separate accounts and one-off investor partners, allowing us to be highly competitive across the risk spectrum in the different markets and sectors,” commented Michael Topham, co-chief executive for Hines Europe.