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Hines Establishes Multifamily Management Firm
Hines has launched Willowick Residential, a multifamily property management firm. Willowick Residential will work in partnership with Hines’ growing multifamily portfolio of 63 projects across 38 U.S. cities.
The new division is named after founder Gerald D. Hines’ first multifamily residential building in Houston’s River Oaks area. In his firm’s early days, Hines managed The Willowick himself, believing an owner had greater insight and desire to manage a building properly.
“Willowick Residential seeks to deliver a superior level of resident service, above-industry retention rates, cost-effective building management and superior engineering and maintenance of the physical asset,” said Hines president and CEO Jeff Hines.
Launched earlier this year, Willowick Residential is currently managing nine properties across the U.S. Hines has managed properties since its launch in 1957.
Hines SVP Lisa Newton told Connect Media that longer-term, the firm will expand into third-party management but initially is focusing on its owned assets.
Pictured: Tinley on the Park in Houston, part of the Willowick portfolio.
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