HOUSTON – (Realty News Report) – Hines, the global real estate firm, announced that Laura Hines-Pierce has been promoted to co-CEO of the firm, effective immediately, the Houston-based development firm said in news release Thursday.
Laura Hines-Pierce is the granddaughter of legendary developer the late Mr. Gerald D. Hines, who founded the Hines company in 1957.
Laura Hines-Pierce has served as Hines’ senior managing director in the office of the CEO since 2020, and previously served as the firm’s transformation officer.
“Laura has brought tremendous innovation to the firm and has been instrumental in driving efficiency and creating value for our investors and clients. It’s an honor to have her join me as co-CEO,” said Jeff Hines, chairman and co-CEO of Hines. “Leading Hines during the real estate industry’s massive transformation takes strategic thinking, vision and empathetic leadership, which are qualities that Laura exemplifies. I’m looking forward to us continuing my father’s legacy of prioritizing quality, service and integrity together.”
“I’m proud to become co-CEO and continue the momentum we’re experiencing across the board at Hines,” said Laura Hines-Pierce, co-CEO of Hines. “My father has been the catalyst for our global expansion and growth over the past three decades and I’m excited to partner with him at this pivotal moment for the firm. The pace of innovation in real estate is finally catching up with other industries; my primary focus has always been – and continues to be – positioning Hines at the forefront of those changes.”
Most recently, Laura Hines-Pierce joined the office of the CEO in 2020 and helped build the investment management platform that launched three flagship funds across the U.S. and Asia with a total current investment capacity of $4.8 billion in equity translating to $10.8 billion in purchasing power. She has also integrated innovation into all areas of the business and further defined the firm’s ESG commitments.
Prior to that, she was the firm’s transformation officer and worked with the co-heads of investment management, the global chief investment officer and the CEO of capital markets, to refine investment strategy and acquisition efforts. She also served as project manager for River Point, a one-million-square-foot development in Chicago, and was part of the grassroots team that established the OneHines Women’s Network, which was the catalyst for the company’s focus on diversity and inclusion. Prior to joining Hines, she worked for Sotheby’s in New York. She graduated from Duke University with a BA in Economics and Art History and received her MBA from Harvard University.
Hines will continue to move forward with enacting its succession plan with the expectation that Laura’s two brothers, Adam and Matthew Hines, will join her and Jeff in the office of the CEO, at Jeff’s discretion. Adam Hines currently works in the capital markets division of the firm and Matthew Hines is part of a development team in the company’s west region.
Company founder Gerald Hines died in 2020 at the age of 95, leaving behind a significant legacy in the built environment. In the early days of his career in Houston, Mr. Hines developed The Galleria and the 50-story One Shell Plaza in downtown Houston.
The Hines organization went on to develop hundreds of properties around the world. Historically, Hines has developed, redeveloped or acquired approximately 1,486 properties, totaling over 492 million SF.
The firm currently has more than 171 developments underway around the world, including the 46-story Brava residential tower in downtown Houston. Hines recently completed the 47-story Texas Tower office building on Texas Avenue on the site of the former Houston Chronicle building in downtown. The firm also recently acquired 78 acres to build 1.3 million SF of industrial in David Wolff’s Beacon Hill development along Highway 290 northwest of Houston.
Hines a presence in 255 cities in 27 countries and it oversees investment assets under management totaling $83.6 billion.
Feb.10, 2022 Realty News Report Copyright 2022.
Image: Hines. Pictured Jeff Hines and Laura Hines-Pierce
File: Laura Hines-Pierce Named co-CEO of Hines.
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