(HOUSTON) – Hines, the international real estate firm, today announced the launch of Willowick Residential, a multifamily property management firm. Willowick Residential will work in partnership with the firm’s rapidly growing multifamily portfolio of 63 projects across 38 U.S. cities, including luxury towers, urban mid-rises and traditional garden-style apartments.
Named after founder Gerald D. Hines’ first multifamily residential building in Houston’s River Oaks area, Willowick Residential builds on the firm’s legacy of excellence and attention to detail. In the early days of his firm, Mr. Hines managed The Willowick himself, believing that an owner had greater insight and desire to manage a building properly.
“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,” said Jeff Hines, president and CEO of Hines. “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’ long and successful track record as an investor, partner and manager serves as the underpinning of Willowick’s experience and approach. Applying decades of real estate success in every sector, Willowick Residential is uniquely equipped to resolve any issue, delivering knowledge and skill through ongoing market research, engineering standards and preventative maintenance that extend the life of major infrastructure, wise capital investment and a focus on providing exceptional service to residents.
Launched earlier this year, Willowick Residential is currently managing nine properties and counting throughout the United States. The venture’s competencies include acquisition services, advisory services, engineering and maintenance, team member recruiting and development, lease-up and transition services, marketing and communications, reputation management, market analysis and research, vendor compliance and information technology.
Hines has managed properties since its inception in 1957, establishing operational excellence as a core value. With 35 team members so far with decades of experience, the venture’s competencies include unparalleled service, asset management, energy efficiency and the reduction of real estate investment risk. The Willowick Residential property teams are highly experienced, thoughtfully trained, and will bring Hines’ standards and experience to all properties to deliver superior service, cost-effective building management and above-industry retention.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 225 cities in 25 countries. Hines has approximately $144.1 billion of assets under management, including $75.5 billion for which Hines serves as investment manager, including non-real estate assets, and $68.6 billion for which Hines provides third-party property-level services. The firm has 165 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,426 properties, totalling over 472 million square feet. The firm’s current property and asset management portfolio includes 576 properties, representing over 246 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world.
About Willowick Residential
Willowick Residential, a subsidiary of Hines, the international real estate firm, is a multifamily property management firm. The firm was founded to provide a tailored, bespoke alternative for asset/property management. Willowick is small and agile but powered by a significant amount of experience and a commitment to being the best in an industry ready for a premier service provider. Launched in early 2020, Willowick Residential is currently managing the following Hines properties: Maple Terrace and The Victor, Dallas; Venue Museum District and Tinsley on the Park, Houston; Wolf Point East and Wolf Point West, Chicago; The Rosemary, Tomball, TX; Stone Loch, Humble, TX; and Alys Crossing, Cypress, TX.