Brazil - Hines

Brazil
Hines entered the Brazilian real estate
market in 1998. Since then the firm has
developed more than 11 million square feet
of premier office, industrial and
residential space, another 10.7 million
square feet is under development in 16
additional projects, and over 7.5 million
square feet of property is under
management. Hines has operations in five
markets throughout Brazil, including São
Paulo city and state, Rio de Janeiro,
Curitiba and Manaus.
Hines Timeline – Brazil
1998
Hines enters the South
American market,
establishing a regional
office in São Paulo with
four employees. The firm is
selected to develop its first
third-party project in Brazil,
the 600,000-square-foot
mixed-use International
Plaza in the Nova Faria
Lima region, São Paulo’s
international business
district.
1999
Hines Emerging Markets
Real Estate Funds EMREF
I and EMREF II make
their first investments in
Brazil: the firm agrees to
develop Panamérica Park,
a major office complex, in
partnership with Itaúsa,
one of Brazil’s largest
conglomerates. After
winning a competitive
bidding process, a site is
acquired in Louveira, 70
kilometers from São Paulo
city, to develop a Unilever
build-to-suit distribution
facility that will be operated
by DHL.
2000
Hines develops the concept
of the Distribution Park
Louveira, strategically
located on one of Brazil’s
key logistics corridors. It
includes the Unilever project
and a speculative warehouse
on an adjacent site. Hines
secures its first property
management contracts in
Brazil, including agreements
to service the new facilities
in Louveira.
2001
EMREF II buys a prime
site in the heart of Rio de
Janeiro’s central business
district and Robert A. M.
Stern Architects is selected
to design Torre Almirante, an
iconic office tower.
Hines’ reputation for
top-quality property
management services helps
win new clients for this area
of business.
2002
Construction is completed
at Panamérica Park, a
technologically advanced
business park of nine
buildings located in the
Marginal Pinheiros region of
São Paulo.
TORRE ALMIRANTE
PANAMÉRICA PARK
Hines is hired by Dutch
investment company
Redevco for conceptual
development and
construction management of
its first office development
in Brazil, the 1.4 millionsquare-foot Centro
Administrativo Rio Negro in
Alphaville just outside São
Paulo. The firm also wins the
development management
contract for a new Clopay
industrial facility at Jundiaí,
also near São Paulo.
2003
Hines records the year’s
largest office lease in Latin
America when the Santander
Bank agrees to rent 369,708
square feet in Panamérica
Park.
The firm celebrates its fifth
year of business in Brazil
with additional property
management contracts,
almost 2.7 million square feet
of space under management
and a staff of 57.
2004
The 36-story Torre Almirante
is completed and becomes
an immediate Rio landmark,
setting a new benchmark
for Class AAA office space.
Petrobras signs a long-term
contract as the sole office
tenant, renting 448,855
square feet. It is the city’s
largest office lease to date.
C.A. RIO NEGRO
Construction of the
International Plaza is
completed and the
development is leased to
Unilever.
2005
The California Public
Employees’ Retirement
System joins with Hines
to create Hines CalPERS
Brazil I Interests LP (HCB
I), a fund to invest primarily
in Brazil’s office, industrial
and residential markets. The
fund’s first acquisition and
refurbishment venture is the
Burity office building in São
Paulo, which is leased to
General Motors Brazil.
Hines secures two important
development management
contracts in São Paulo:
the Campo Belo Medical
Center, a 21-story building
for medical services,
and Espaço dos Artes,
a 969,000-square-foot
residential complex.
The firm wins a competitive
bidding process to develop
two new distribution facilities
for DHL and Kraft Foods
on behalf of HCB I. Torre
Almirante wins a major
prize, the Prêmio Master
Imobiliário, for the best office
development in Brazil.
INTERNATIONAL PLAZA
2006
Construction is completed
on a build-to-suit distribution
facility for DHL and Kraft,
in addition to a second
speculative warehouse at
Distribution Park Louveira.
Together these add 535,000
square feet to the logistics
complex developed by
Hines. The firm further
expands its industrial
portfolio by completing
construction of a distribution
center for DHL and Kraft in
Araucária, in the southern
state of Paraná.
The firm is selected to
redevelop the historic
Hamburg Sud building in
Santos on the São Paulo
coast.
Prêmio Master Imobiliário
honors Distribution Park
Louveira as the country’s
best industrial development
in 2006. Hines ends the year
with 120 employees in Brazil.
2007
Hines and CalPERS form
HCB II to continue their
successful real estate
strategy for Brazil.
The firm acquires the
landmark BankBoston
tower in São Paulo, widely
considered the best office
building in Latin America.
The adjoining vacant
ASD site is also acquired,
with plans to develop a
926,000-square-foot mixeduse project.
Another important purchase
is the vacant Flamengo
66 office building in Rio
de Janeiro, acquired
for refurbishment and
successfully pre-let to the
EBX Group.
Hines’ portfolio of Brazilian
industrial properties
continues to grow as
Hines-REIT acquires the
689,000-square-foot
Distribution Park Rio de
Janeiro, and two more
warehouses are built in
Louveira. The firm’s property
management business tops
5.4 million square feet of
office and industrial space.
2008
Hines acquires a stake in
DMO, a Brazilian residential
developer and construction
company specialized in
lower-and middle-income
households. Construction
is completed on Tatuapé,
a low-income residential
development in São Paulo
consisting of 400 units
in four 17-story towers.
Development continues on
another seven residential
projects throughout São
Paulo State, totaling 3,700
low-and middle-income
homes.
The firm continues to grow
its nationwide distribution
park strategy. Construction
is completed on the
1.9 million-square-foot
Distribution Park Embu, a
warehouse is acquired in
Osasco and development
continues at five other
distribution parks that total
over 4.8 million square feet.
Projects include: further
expansion of Distribution
Park Louveira; a new
distribution park in Cajamar;
upgrading of a distribution
park near Guarulhos
International Airport; a new
distribution park on the
President Dutra Highway in
Rio de Janeiro; and a new
distribution park in Manaus
on the Amazon River.
A total of 2.9 million square
feet of logistics space is
leased in 2008. Tenants
include Adidas, Wal-Mart,
Decathlon, DHL, CEVA and
DrogaRaia. Hines REIT
acquires 1.6 million square
feet of logistics space in five
buildings.
Nestlé signs a long-term
lease for the entire exBankBoston tower. The
410,000-square-foot rental
is thought to be the largest
single office lease in São
Paulo history.
Hines is selected to carry
out the development
management of the second
phase of the Centro
Administrativo Rio Negro
in Alphaville along with
a 861,000-square-foot
distribution center for Avon
in São Paulo.
As 2008 draws to a close,
Hines celebrates 10 years
of business in Brazil, having
acquired or developed over
11 million square feet in
21 projects. Another 10.7
million square feet is under
development in 16 additional
projects, and over 7.5 million
square feet of property is
under management. Hines
Brazil has 175 employees.
Redevelopment of the
Castelo office building
complex is completed in
downtown Rio de Janeiro.
Castelo is leased to
Petrobras and named the
year’s best retrofit by Prêmio
Master Imobiliário.
NESTLÉ
BURITY
DISTRIBUTION PARK LOUVEIRA
DISTRIBUTION PARK ARAUCÁRIA
Hines is a privately owned real estate firm involved in real
estate investment, development and property management
worldwide. The Hines portfolio of projects underway,
completed, acquired and managed for third parties includes
more than 1,100 properties representing approximately 457
million square feet of office, residential, mixed-use, industrial,
hotel, medical, retail and sports facilities, as well as large,
master-planned communities and land developments. With
offices in more than 100 cities in 16 countries, and controlled
assets valued at approximately $25.6 billion, Hines is one of
the largest real estate organizations in the world.
Av. Nações Unidas, nº 12.901 Torre Oeste - 11º andar
CEP: 04578-910 - São Paulo - SP Tel: (55) 11 5504-7600 Fax: (55) 11 5504-7556
www.hines.com | www.hines.com.br
TATUAPÉ
CASTELO
DISTRIBUTION PARK RIO
ASD