Non-traded REIT, Hines Global REIT, Inc. announced a new appointment this week. Effective July 11, 2014 Edmund Donaldson resigned from his position of Chief Investment Officer at Hines Global REIT.
Filling Donaldson’s place is David Steinbach.
Mr. Steinbach has been a part of the Hines family since 1999, where he has been responsible for acquiring more than $3 billion in assets for the company and its affiliates. Before his appointment to this role, he served in a number of positions where he was responsible for acquisitions, asset management, and property dispositions for Hines Real Estate Investment Trust, Inc., Hines Global REIT, and Hines US Core Office Fund LP, in the U.S as well as abroad.
“David has been an integral part of the Hines Global REIT management team since its inception and is well-suited to lead our investment activities going forward,” said Sherri Schugart, President and Chief Executive Officer of Hines Global REIT. She continued, “David will be leading a very talented and tenured team, including Managing Directors, Ken Jett, Kenton McKeehan and Blake Williams, all of whom have been key participants in assembling Hines Global REIT’s outstanding real estate portfolio totaling investments in excess of $4.0 billion.”
Hines President and CEO, Jeff Hines, added, “David’s strong relationships with other leaders across Hines’ global investment platform, as well as members of the international commercial real estate investment brokerage community, have positioned him well for this new role.”
Launched in 2009, Hines Global REIT owns interest in 41 real estate investments around the globe. The company owns and manages a diversified portfolio that includes office, multifamily, retail, industrial, and other real estate.
The company’s sponsor, Hines, currently manages 391 properties totaling 161 million square feet, which includes 89.1 million square feet for third parties. Having offices in 115 cities in 18 countries, and controlled assets of approximately $28.2 billion, makes Hines one of the largest real estate organizations in the world.