} } Log In. How to run for office | Real estate is a cyclical business and things come up, in favor, out of favor, and to be able to pivot on a dime to emphasizing different geographies or different product types or acquiring when it's not a good time to develop that's hugely valuable to us in being able to keep the organization fully active all the time. She also interned at Eastdil Secured where she was responsible for underwriting, analysis, market research and the development of offering memorandums for a variety of asset types across geographies. And Im sure you remember back then that was a brutal time for real estate. As much as you are nice to hand credit off to us, the credit really goes to the whole firm and that was maybe not quite as true when Dad handed things off to me, but pretty darn true back then. $('.hideResponses').on('click', () => { So, I think from that early perspective it really got built into our DNA, in the same way, that great design has, and it's something that's been infused in how we think about the long term. height: 22px; position: absolute; Yet in the mid-2000s you made the distinct decision to change the strategy and move much more rapidly into that asset management business, if you will, and not necessarily away from development, but to grow that. Laura Hines-Pierce is Senior Managing Director in the office of the CEO at Hines. font-size: 12px; He is a candidate for the United States House of Representatives as a Republican. Laura Hines-Pierce: Sure, I think a lot of it originally stems from my grandfather's background as a mechanical engineer. Jeff Hines: Yeah, that's something I think Dan and some others at the firm really do get credit for, and rightly so, and, as you say, before there may be a few exceptions. Because Hines, really, of all the development firms in the world and asset management firms in the world, has the reputation of having gone and worked with the world's preeminent architects. Bo Hines, a congressional candidate from North Carolina, is self-funding the majority of his campaign, according to the FEC. We have seen politicians spend decades in Congress becoming entrenched in the swamp and enriching themselves. .election_results_text { .leg-hnt-leadership-title { $(".expand-all").on('click', () => { I mean, back when your father started working with Philip Johnson, all the great architects in the world were designing university campuses and art museums. padding: 2px 0; .inner_percentage.CrossFiled { left: 0px; } And Willy, you called us a global real estate developer. padding-left: 8px; His future: Congress? So, we've invested heavily in it both organizationally and dollar-wise, and so that's provided some of that growth too. Willy Walker: Does that present an opportunity for a firm of your size? Willy Walker: And as you look out, I think, right now, and I want to get to the asset management side of it because obviously it's so much more than development. Freedom of Speech The true answer is, we could mess it up big time and the firm wouldn't miss a miss a beat. We know a lot of things that are already happening have been accelerated by COVID big time. } margin-bottom: -2px !important; Robert is 61 feet or 185 cm tall. Hines was born in Charlotte, North Carolina. We want to be in the established markets. And so, this has been part of our growth story, and then having this diverse skill set that we've really built over the last 10 years allows us to drive into you know potentially new opportunities. You know there's real value if you can engineer the building to be significantly more efficient. Especially as you think about that long-term perspective. } He lost in the general election on November 8, 2022. This article was originally published on October 17, 2022, and updated to include new comments from Hines and Nickel. But the harder answer is going to be a complex answer. And like my two guests today, I am blessed to have an incredible team with a powerful brand to lead our company and industry forward over the coming years and decades. Walker & Dunlop is listed on the New York Stock Exchange and in its first ten years as a public company has seen its shares appreciate over 800%. You know it's funny, our history is so much a part of our culture and it's absolutely woven into our DNA and just on the previous topic, a little bit of a funny story, I think it's taken time to evolve into who we are, but we are very good at evolving and I think there is a lot of debate of how do we acquire buildings and is that the right thing for us to do? position: relative; .widget-row { $('.showResponses').show(); As cyclical as real estate is our number of people employed by Hines is not cyclical. The magic was working directly with the architect in a rather creative tension sort of way to work with their design and be able to get the great design but be able to tweak the materials, or tweak the curtain walls, so that you were building something at a reasonable cost premium and you're building a floor plate that works for tenants, and that was leasable. "With 8.3% inflation, that is the equivalent of one month salary for the average American," he said. $('.showResponses').hide(); I am always up for a challenge and love to work hard to achieve my goals. He earned a scholarship at North Carolina State University to play college football for the NC State Wolfpack. They are trying to reduce the number of managers they deal with. American innovation, execution, and tenacity have likely not been seen like this since World War II. Even after retiring, Robert has maintained a good physique. display: none; width: 250px; .inner_percentage.Green { Congress has been stagnant and complacent for the past few decades and this has hurt Americans. padding:7px 8px 8px; padding-left: 0; Bo Hines has been active from a very early age. How to vote | .leg-hnt-leadership { North Carolina's 13th Congressional District. We must have accurate voter registries, verification of citizenship, and a requirement to show a photo ID before casting a ballot. letter-spacing: 0.03em; flex-direction: column; Allison Joyce/Getty Images Bo Hines, a congressional candidate from North Carolina, twice claimed that he. If you go back to 1990, as you say what we were in the 80s, the business we were in was building large CBD [Central Business District] architecturally significant buildings in U.S. CBDs. padding-left: 10px; Because frankly, there is a question of will other people's buildings be as good as ours? And so, I think we have to be extremely focused on it, but I do think it's part of our secret sauce and I think, I think people across the firm feel a really strong ownership in carrying it forward. Willy Walker: So, Jeff just talking about the scale and how big you are today, and you know you launched the Hines Global REIT in 2009 right after the GFC and that has become a fantastic vehicle for you all. Upon deciding to run for Congress, he chose to fully invest his time and energy into representing this community. [15] Hines narrowly lost the election to Democratic state Senator Wiley Nickel. font-size: 1.25em; margin: 8px auto; To fight to invest in our infrastructure and negotiate quality affordable healthcare. Do you want a spreadsheet of this type of data? .external_links_table { width: auto !important; } Jeff Hines: I would also add that, in terms of what Laura was saying about knowing what the tenants need before they know it one of. indicateScroll(); From a young age, I saw how government action affected small businesses. World-Wire provides quality information content for Conservatives, politics, current events and affairs from USA and around the globe. But I think, and really this stems from my grandfather was such a cultural icon in our firm, and I think had really such a strong pole, and then in a way that he really structured the business to allow autonomy to really imbue trust in leaders to go out and own, you know, own their business in a way and be autonomous leaders, while still being responsible for carrying that Hines culture, carrying that Hines flag, and some of the deepest values that we have around integrity and quality, I think has really you know, I think lasted and stood the test of time. We made a lot of mistakes along the way, and you know, a lot of lessons learned to get to where we are today. height: 56px; Willy Walker: So Laura your Dad just talked about technology, and I know you all, are an investor in Fifth Wall and I had Brendan Wallace on the Walker Webcast about a month ago, and he was fantastic with Casey Berman from Camber Creek just talking about where Fifth Wall is making investments. Willy Walker: Laura as you think about that, and about the size and scale of Hines today, with over 4,000 employees around the globe. } font-weight: 100; } Note: Ballotpedia reserves the right to edit Candidate Connection survey responses. Jeff when you joined Hines back in the 1980s, there was not a major office tower in America that was not being built by Hines. Senator from South Dakota in 2017. })(); See also: Ballotpedia's Candidate Connection. But boy, it is tough, it's blocking and tackling. Once we had raised the funds, we started to see the benefits of it, and what we could provide as a firm to that business, so we got into it more and more and it's just you know Id say we are really leaned into the last decade, but a lot of that is because of the success and experience we had prior to that. [3], In 2015, Hines transferred to Yale University because of his interest in politics. But his footballing career at Yale University was not that bright because of the injuries. His full name is Robert Bo Hines. background-color: #ccf; Jeff Hines: Thanks Willy. .panel-heading:hover { cursor: pointer;} } Then the last thing Ill say too is, I think one thing that the firm did really well is institutionalize that knowledge, and so that's something when we go through that creative process with, the creative tension process with an architect we bring as much to the table, often, as they do, because we have a group internally, that is involved in essentially every asset that we do, and they bring all of that built up experience and knowledge to the table in. Ballotpedia features 393,611 encyclopedic articles written and curated by our professional staff of editors, writers, and researchers. Click here to read the survey answers. It's really hard, it's really tough to do. With a presence in 225 cities across 25 countries and 144 billion dollars of assets under management, Hines vision is to be the best real estate investor, partner, and manager in the world. Wiley Nickel defeated Bo Hines in the general election for U.S. House North Carolina District 13 on November 8, 2022. [1] Hines earned a bachelor's degree in political science from Yale University in 2018. And then having our cultural centers in our offices, you know we've hired 600 new people since the start of COVID so being able to have a cultural center where these new hires can come in and learn, feel that culture in the office, you know from the leaders, from the people that have the long tenure that we have. What's The biggest challenge on a go forward basis as it relates to both maintaining the core culture at Hines? And its really, really, difficult Willy. What investment would it need to it? position: relative; let scrollHeight = jQuery('.results_table_container').get(index).scrollHeight; document.getElementById('leg-hnt-content63c7f5154b2bc').classList.add('leg-hnt-hide'); Was the location a location that was improving or getting worse with time? How To Apply For A Family Health Care Grant? padding-left: 10px; Those ads were produced by the National Republican Congressional Committee. .results_row.winner { background-color: green; Hines got married in 2017 to Olivia Andretti. Bo Hines, a 27-year-old Republican candidate for the US House of Representatives. font-weight: bold; Stay up to date with what you want to know. I would say in the last decade another reason is that we've really pushed very hard into other product types. Willy Walker: Well, in in talking about Laura and her brothers asking you to get back to the to the office Im going to let both of you get back to your day and Im just going to thank both of you for taking the time. .race_header, .results_text, .results_table_container, .votebox_legend { He led the team during the 2014 St. Petersburg Bowl. Tom Melody Happy Birthday again and to Laura and Jeff thank you both again for joining me today. } You've got funds for pretty much everything out there. It makes me think back to when we acquired our first company at Walker & Dunlop and my father and my other partners in the business looked at me and said well how do we know how the people were trained, and how do we know how they approach credit, and I said well that's what underwriting is for. Hines was in the process of entering China as a business, and in the 90s China was a very different world. Ballot measures, Who represents me? .electionsectionheading { color: white; There aren't many people will have all of those. I read 13 of your buildings in 2000 got lead platinum status, at a time when in 2000 there were very few companies focused on lead and lead platinum. } Jeff Hines: Well, I mean the obvious answer that is the industrial side. He was born in Charlotte, North Carolina, US, and was raised there only. It was a very different world back then, and so I got incredible opportunities on that front and certainly was exposed to the business broadly. BUCK: Bo Hines, we're going to be watching your race closely as a bellwether on Election Night. color: white; .clearfix { We want good jobs, free speech, good healthcare, safe streets, quality schools, and honest leaders. He enrolled in the Wake Forest University of Law during this time only. top: -5px; } Bo Hines, a congressional candidate from North Carolina, twice claimed that he and his wife "can't afford to give up a month's salary.". .top_disclaimer { color:white; .key-messages li {margin-bottom: 10px;} I was curious was there ever or is there a memory that you have from your childhood when your father or grandfather took you to some city to see an asset that was being built, and you got to go up to the top of it and look out over some city you've never seen before? To do that organically just takes time and effort and that's why there are not a lot of people that have what we have. .contact_entity {font-size: 1.0em ;margin-top: 0.6em; margin-bottom: 0em; margin-right: 0.5em;} } position: relative; Jeff Hines: For sure of course. .results_row { Could we improve the operation of it to improve the bottom line? Talk for a moment about what it was that made you propose that you all ought to go into actually acquiring a building that wasn't designed and built by Hines? margin-top: 1em; How was it that you took this domestic focused business and had the ability to go and not only enter other markets?

} Laura Hines-Pierce: And Ill just say too, I think it's on that the economic equation, it wasn't only the rent premium and being able to attract the tenants but, certainly a high belief that better-designed buildings, retained tenants, through downturns, and, ultimately, that really increases the overall asset value of the building itself. You got the first building ever in the State of Texas, to get the lead platinum certification. background-color: green; display: inline-block; To have the skill set to be able to do the entitlement for the putting together a big piece of land, to be able to handle the construction of the infrastructure, to be able to handle the construction of the houses, to convert to lease the houses and then to operate the long term, those are skill sets we all have we have experience in each part of that. And one thing that really amazed me was, as I walked into an office in Gurgaon, India or in Paris, or in San Francisco, that Hines culture really was there, the office was still very Parisian or still was very local. .votebox-scroll-container { I earned a scholarship to play football at NC State, represented my teammates on the NC State Athletic Council, and was honored as a freshman All-American wide receiver. And Id say again, the answer is probably several fold, and one big driver, and this is also sort of a driver for us making a big international push. or. His trust fund, named Hines Children's Trust, is the only reported asset on his personal financial disclosure. } background-color: #ccc; Hines transferred to Yale, interned on Capitol Hill and for Indiana Governor Holcomb, and was recently concluding a law degree from Wake Forest. .leg-hnt-district-number { American Infrastructure justify-content: center; Willy Walker: How fun, is it for you to have your three kids all working inside the company? Bo Hines completed Ballotpedia's Candidate Connection survey in 2021. Sign up for notifications from Insider! .leg-hnt-border-top { Now what I will say is the topic of ESG more broadly has gotten significantly more complicated than I think it was when we really set out to do what we do, and I think certainly the opportunity to create economic value, while also doing good for the world is something that we strive to do. Jeff Hines: Well, weve talked a lot about us on this on this call, and the thing to really stress is the way we make decisions at Hines is maybe a little different than other firms. I think, single family for rent is another opportunity for us and where we see coming out of this market moment, I think we're going to see a lot of opportunity for that in some of the mid-tier cities and some of those areas.

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