How is Hines finding value in the current market?
After a number of volatile years, we think investors want to minimize the uncertainty in their portfolios, and early in the cycle is a great time to get back to real estate basics. People are looking for permanence.
Necessity-based real estate, often mentioned in the context of retail, is that indispensable neighborhood center where you and all of your neighbors do your grocery shopping or go to the pharmacy. It is real estate that justifies its own existence. Sometimes you know when you see it — based on location, the tenants, the foot traffic — why that real estate needs to exist. Our goal is to make it obvious why the real estate we create is necessity-based real estate.
We always look to turn out a core asset and attract a core buyer, demonstrating the permanence of the real estate that we create across product types.
The excerpt above originally appeared from HUSPRF Fund Manager Dan Box’s interview with IREI Americas
Adding value for both occupier and investor
Dan Box
Fund Manager – HUSPRF