Hines Acquisitions

Appreciate any insight people can provide on what day to day would be like in a regional role where you are designated to specifically work on acquisitions, not acquisition + development, which is what most of my front office Hines contacts represent they do, with a big bias toward development.

I saw they raised a billion for a new fund and are fundraising a few others. Fundraise is solid, but not spectacular compared to headlines coming out of other firms this past year. Does Hines plan to become a big player in the space? What does volume look like for next year? What % of equity is Hines and will they invest in non-Hines sponsors? Their website explicitly says they do value add in Europe, will they do it in America?

if you feel more comfortable PMing me please do so

Comments (23)

  • Analyst 1 in RE - Comm
Jan 9, 2022 - 5:07pm

I think most of their true acquisition guys from their fund is based out of Houston, but think they changed their model so that local teams do both acq and dev. Don't think any local office with guys only do acq, think it's that acq and dev balance with heavily weighted on dev since it takes more time to execute the business plan….but any Hines people correct me if I'm wrong

  • Analyst 3+ in RE - Comm
Jan 10, 2022 - 6:56am

Depends on how busy the market is. Regional offices tend to have their own dedicated acquisitions teams, focused solely on new business. These essentially act as boots on the ground for their funds based in Houston/London, whilst also sourcing deals for external capital. If the market is quite small with not a lot of deals, there will be less of a need for a dedicated acquisitions team and they will cross over with the development side on occasion. 

  • Analyst 3+ in RE - Comm
Jan 10, 2022 - 11:58am

 70-80% of weeks are at the 55-65 hour range, and when there's multiple deals that need to cross the line it'll rise towards 70-80 hours max 

Jan 14, 2022 - 1:47pm

No idea about the US, but in Europe local offices do most of the job (the European office is in charge of monitoring the deals, but they don't really do much).

Also yes, local offices do have dedicated acquisition teams. WLB is pretty hard  and pay is not that great in my opinion, but progression can be really fast and you learn a lot.

On fund raising, you need to keep in mind that Hines usually rely on one-off JVs. They are raising more and more capital in decidated funds (like the one mentioned in the comments) and thus they don't really shine on the REPE tables. Happy to reply to any questions.

Most Helpful
  • VP in PE - Other
Jan 14, 2022 - 4:07pm

To add to this, the local offices originate the deals. They bring new deals to a European region wide call and it gets allocated to one of the various funds / SMAs / one-off investors they think it's a good fit for. Local offices lead the acquisition process but a handful of different groups from London may also be involved (fund management, finance / tax, legal etc) if it's allocated to a Hines fund

On the point on JVs, these can be the size of what would be a decent fund for other firms. Some examples include Quadreal European Living JV (€500M equity) or the NPS Global Build-to-Core JV ($1.25BN equity).

Jan 14, 2022 - 2:24pm

Not sure if I understood your question.

Anyway, generally Hines (family & senior management) co-invest along with the LP. The equity subscribed for the Hines-backed fund will not be used for the co-investment share, so in the equity position you will have X% of Hines capital and 1-X% of Hines-backed fund

Jan 14, 2022 - 3:07pm

Eum nihil officiis recusandae perspiciatis beatae. Sit cumque voluptatem est. Repudiandae officia officia consequatur illo veritatis.

Start Discussion

Popular Content See all

Is office as an asset class dead?
+145REby Analyst 1 in RE - Comm
Does anyone else get a bit offended?
+38REby Intern in RE - Comm
Quitting to do REPE
+34REby Analyst 1 in IB - DCM
2022 Comp Thread RE
+31REby Investment Analyst in PE - Other
Lev Capital - the future of CRE lending?
+24REby Associate 3 in RE - Comm
Personality expectations
+23REby Analyst 1 in RE - Comm
Hines Acquisitions
+21REby VP in RE - Comm

Total Avg Compensation

January 2022 Investment Banking

  • Director/MD (5) $604
  • Vice President (20) $379
  • Associates (142) $239
  • 2nd Year Analyst (84) $153
  • 3rd+ Year Analyst (15) $150
  • 1st Year Analyst (291) $142
  • Intern/Summer Associate (63) $143
  • Intern/Summer Analyst (223) $89