(HOUSTON) – Hines, a leading global real estate investment manager, has been recognized by the Global Real Estate Sustainability Benchmark (“GRESB”) for its global excellence in sustainability, earning five out of five stars across four flagship funds, three direct investments and a separate account. The ratings affirm the company’s leadership in sustainable value creation and continued efforts to drive value for investors and funds.
In 2024, five of Hines’ funds are recognized sector leaders, with all of the firm’s flagship funds now being 4-or 5- star rated funds by GRESB.
“As an investor and steward of capital, driving sustainable value creation and protecting value are critical for the success of our portfolio,” said Sonny Masero, Managing Director of ESG. “These outstanding GRESB results underscore the strength of our platform and our ability to implement a wide range of sustainability solutions, no matter the property type or geography.”
Europe
Hines European Core Fund (HECF) is a global sector leader and received a five-star rating, with an overall rating of 93/100, making it the first in its peer group of 117 European core and tenant-controlled portfolios for the eighth consecutive year, underscoring its consistent strategy, solutions and tireless efforts for the net-zero transition.
Hines European Real Estate Partners (HEREP) III is a global sector leader and received a five-star rating, with an overall rating of 100/100, also placing it first in its peer group. HEREP III is the third fund in a series of discretionary, closed-ended real estate funds that seek to acquire high-conviction, thematic investments in primary European markets with a focus on fundamental trends and capital market inefficiencies.
Hines European Value Fund 2 (HEVF 2) is a global sector leader and was awarded five stars and received a 100/100 score for the second year in a row. It also ranked first in its peer group of European, non-listed, value-add, closed-end funds for the third consecutive year.
HEVF 2 is the vehicle behind the acquisition and sustainable transformation of Hines’ European headquarters building called Grainhouse in Covent Garden, London. Hines believes Grainhouse represents one of the world’s best examples of pure vertically integrated real estate investment, development, management and occupation, with the delivery of a next generation office building that has world-class ESG credentials.
Hines European Property Partners (HEPP) is a global sector leader and was awarded five stars and a score of 91/100. It placed 1st of 6 in its peer group of Western European diversified office/industrial, core.
HEPP is a diversified, open-ended real estate Core Plus fund focused on good quality, substantially stabilized assets in key European markets with embedded growth potential. The Fund seeks to increase value by leveraging Hines’ proprietary research and on-the-ground platform to increase value.
Hines’ high street retail account with a German pension scheme group, is a global sector leader and was awarded five stars and a score of 93/100, placing it first in the peer group of European, core, tenant-controlled and diversified office and retail portfolios.
Cherrywood in Dublin, Ireland, was awarded five stars out of five for a fifth year in a row with a total 2024 GRESB score of 97/100. The project won five awards in total, ranking first out of 15 for mixed use in Europe, first for mixed use, non-listed in Northern Europe, and first for mixed use, non-listed, opportunistic. The Cherrywood Town Centre residential led mixed-use development is made up of 1,268 apartments with associated retail, food and beverage and car parking. The development is one of the most sustainable urban developments in Europe, as demonstrated by these results.
Americas
Hudson Square Properties in New York City received a five-star ranking, with an overall rating of 93/100, allowing it to be first out of its peer group of non-listed, value-added, USA office properties.
The Hudson Square Properties is a joint venture of Trinity Church Wall Street and Norges Bank Investment Management with Hines as the operating partner. It is a 12-building portfolio of approximately 6 million rentable square feet in a prominent lower Manhattan neighborhood.
Hines U.S. Property Partners (HUSPP) and Hines U.S. Property Recovery Fund (HUSPRF) as 4-star funds continue to show Hines’ out-performance of its peers, with HUSPP improving its year-over-year score by 28 points and ranking 6% above its peers, while HUSPRF increased its year-over-year score by 19 points.
Asia
Hines Asia Property Partners (HAPP) received a four-star rating. HAPP is an open-ended, core-plus fund that seeks to invest in a diversified portfolio of high-quality assets across the living, industrial, office, and retail sectors. HAPP’s assets earned 31 green building certifications, such as LEED Gold for Westgate Tower in Seoul and CASBEE Superior for Aquaria Tower in Yokohama – the Fund’s recently renovated office assets. HAPP signed green leases for around 76,000 square meters of its managed assets.
One Museum Place in Shanghai is a 1.4 million-square-foot, 60 story prime office tower with a six-story retail podium. The property was ranked first among its peers, while maintaining its five-star rating for two years in a row. The building was among the city’s first LEED Platinum certified office towers. It also received WELL Platinum certification and RESET Air Standard for indoor air quality delivered through the tower’s sophisticated air quality monitoring and management system.
Atrium Place in Gurugram, a 3.07 million-square-foot, Grade A+ office project, received a three-star rating. The development project, spanning nearly 12 acres, is LEED Platinum pre-certified, Smartscore Platinum pre-certified, Wiredscore Platinum pre-certified, and WELL Platinum pre-certified demonstrating its commitment to environmental sustainability, client centricity, future-proof technology, and market-leading innovation.
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About Hines
Hines is a leading global real estate investment manager. We own and operate $93 billion2 of assets across property types and on behalf of a diverse group of institutional and private wealth clients. Every day, our 5,000 employees in 31 countries draw on our 67-year history to build the world forward by investing in, developing, and managing some of the world’s best real estate. To learn more, visit www.hines.com and follow @Hines on social media.
1 As of 30 June 2024.
2 Includes both the global Hines organization and RIA AUM as of June 30, 2024.
About GRESB
GRESB is a mission-driven and industry-led organisation providing standardized and validated Environmental, Social and Governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world, used by institutional and financial investors to inform decision-making. GRESB data is used by hundreds of capital providers and thousands of asset managers to benchmark investments across portfolios and to better understand the opportunities, risks and choices that need to be made as the industry transitions to a more sustainable future. Hines pays to participate in GRESB.
For more information, visit GRESB.com
