Hines expands Asia platform with new value-add strategy

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Hines, a leader in the real estate investment, development, and property management space, has announced the launch of Hines Asia Real Estate Partners (Harep). The new closed-ended fund will provide a value-add real estate investment vehicle specifically focused on Asia and will serve to expand Hines’ investor platform in the region.

Alongside the launch of Harep, Hines has appointed Caleb Shen as the Senior Managing Director, overseeing the new fund. He will report to Chiang Ling Ng, Hines’ chief investment officer for Asia and joins Hines from GLP Capital Partners.

The launch of Harep comes after the firm’s flagship, multi-sector, core-plus open-ended fund, known as Hines Asia Property Partners (Happ), which was launched in May 2021. Happ has since seen over US$1.3 billion ($1.8 billion) in investment from 15 global investors.

David Steinbach, the Global Chief Investment Officer at Hines, stated in a press release that the addition of a value-add strategy to their global investment offerings allows them to meet the needs of investors across different geographies and the risk spectrum.

The diversified, closed-ended fund of Harep will provide added stability and assurance to the firm’s investment platform in Asia. As a value-add fund, Harep will offer a suite of targeted services that will higher maximize the value of their investments and address investor’s specific needs.

Hines’ strength in the Asian market has rapidly grown in the past year. The firm recently deepened its investments in Asia Pacific and welcomed a third generation into its leadership programs, further demonstrating its commitment to the region.

In addition, Hines also recently acquired a logistics asset in Nagoya and a Bukit Batok industrial building from Soilbuild Business Space REIT for a combined $93.8 million.

The launch of Harep marks another milestone for Hines which further solidifies its position in the Asian real estate market and demonstrates its commitment to providing investors with a diversified and trusted platform.