Real Estate Company Hines Names Laura Hines-Pierce Co-CEO
“The advantage of a family business is that we can think long term and think generationally,” Hines-Pierce said in an interview. “My dad brings 30 years leading our business and I’m able to bring that new perspective.”
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She joined Hines in 2012 after earning an MBA from Harvard and spending four years at Sotheby’s. Recently, she spearheaded the launch of three Hines funds in the United States and Asia that raised $4.8 billion in equity for transactions worth nearly $11 billion.
Hines-Pierce has led initiatives to promote women within the company, managed construction projects and pushed the company’s commitment to environmental, social and good governance goals in its real estate and operations. Hines opened 555 Greenwich in Manhattan last year, an office tower that meets the state’s 2050 carbon neutral goals.
The company was founded in 1957 by his grandfather, Gerald Hines, as a developer of trophy office towers for oil companies in Houston. It now operates in 227 cities in 27 countries, with a portfolio that has grown to include residential, retail, industrial and other property categories.
It’s a Manhattan partner A Vanderbilt, which opened in the midst of the Covid-19 pandemic and is more than 90% let. Last year, Hines unveiled plans for a $2.5 billion acquisition and redevelopment of San Francisco’s historic Pacific Gas & Electric Co. campus.
Corporate office values have held steady or increased since the pandemic began as tenants are willing to pay for a safe, engaging space and can attract workers to their office, Hines-Pierce said.
“We really see this flight to quality happening,” she said. “The past two years have been among the most productive for the company.”
His younger brothers, Matthew, 36, and Adam, 33, also hold management positions and are part of the company’s succession process. She has a 17-month-old son, Augie, and is pregnant with her second child, due in April, possibly paving the way for a fourth generation in the family business.
Although Jeff Hines, 66, hasn’t announced any retirement plans, the family has nothing to do with the opera Roys of the HBO series “Succession,” according to Hines-Pierce.
“Our lives are much duller,” she said.
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