Hines Founder and Chairman Passes at Age 95
Gerald D. Hines, founder and chairman of Hines real estate firm, passed away peacefully at home on August 23, 2020.
Gerald D. Hines, founder and chairman of Hines real estate firm, passed away peacefully at home on August 23, 2020. Hines was born in Gary, Indiana on August 15, 1925 and recently celebrated his 95th birthday.
The news was announced yesterday by his son, Jeffrey C. Hines, who has been running the firm, and now assumes the role of chairman. From 1996-2010, Gerald Hines made London his home base, having transferred day-to-day operations to his son, Jeff, who became the firm’s chief executive officer and president in 1990.
Gerald Hines established his namesake company in Houston in 1957. The company is renowned for developing, owning and managing some of the world’s most recognizable architectural landmarks across five continents. Today, Hines is active in 225 cities in 25 countries and has more than 4,800 employees.
“Beyond his significant, impactful career and his pioneering contributions to architecture, sustainability and the built environment, Dad felt his greatest achievement is the team of dedicated professionals who have, and will continue to, carry on his legacy of peerless quality, integrity and innovation,” said his son, Jeffrey.
The Hines firm has developed more than 907 projects around the world, including 100 buildings with more than 25 stories, and the tallest office towers in Texas, Kentucky, New Jersey, Oklahoma and Italy.
Hines graduated from Purdue University with a degree in mechanical engineering and later received honorary doctorates from both Purdue and the University of Houston. He was a frequent guest lecturer at major universities and a speaker at industry events. Hines was the 2002 recipient of the Urban Land Institute’s prize for visionaries in urban development and is an honorary fellow of the American Institute of Architects.
Among his proudest accomplishments are the Gerald D. Hines College of Architecture at the University of Houston and the establishment of the Urban Land Institute’s Gerald D. Hines Student Urban Design Competition.
Hines is survived by his wife, Barbara, four children, 15 grandchildren and one great grandson. He will be laid to rest in a private family ceremony in Aspen, Colorado. The company indicated that a celebration of his life will be held at a future date when it is safe to congregate.
Hines is a privately owned global real estate investment firm founded in 1957 with approximately $144.1 billion of assets under management, including $75.5 billion for which it serves as investment manager, including non-real estate assets, and $68.6 billion for which Hines provides third-party property-level services. The firm has 165 developments currently underway around the world.
Historically, Hines has developed, redeveloped or acquired 1,426 properties, totaling over 472 million square feet. The firm’s current property and asset management portfolio includes 576 properties, representing more than 246 million square feet.
The firm sponsors a number of non-traded REITs and other illiquid alternative investments, including Hines Global REIT and Hines Global Income Trust, which have raised billions of dollars of investor equity.
