Hines, a real estate development company with offices in over 200 cities, is launching a branch specifically for multi-family property management called Willowick Residential.
Based out of Houston, Hines had been juggling both commercial and multi-family development. Some of the firm’s most well-known projects include CityCenterDC hotel and office block in Washington, D.C. and the Walter Reed Army Medical Center (where President Donald Trump was hospitalized with the coronavirus infection last week.)
As first reported by local outlets, Willowick Residential will be a branch specifically dedicated to multi-family housing and will work on the 63 projects in 38 U.S. cities currently in the works for the firm. The branch is named after the first apartment building that the firm’s late founder, Gerald D. Hines, developed in Twin Oaks in the 1960s.
“Rooted in the expertise of our regional offices, our growing and successful multifamily division has expanded for-rent apartment development activity throughout the United States,” Jeff Hines, president and CEO of Hines, said in a statement to ReJournals.
Tinsley On The Park Complex in Houston.
The projects taken over by Willowick will include nine residential buildings across the United States — five in the Houston area, two in Dallas-Fort Worth and two in Chicago. Primarily luxury apartment units, they tailor to young professionals and urban dwellers.
“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,” Hines said.
The new company branch will also focus on a variety of different developer services — from acquisitions and vendor compliance to market analysis, advising and lease-up and transition services.
