Hines Announces Leadership Promotions

(NEW YORK) - Hines, a leading global real estate investment manager, is pleased to announce several key leadership team promotions. To capitalize on market dynamics and better uncover investment opportunities, Hines will restructure the real estate services division to complement its strong investment management platform led by Global CIO David Steinbach. Hines' investment committee structures and governance remain unchanged.

These executive shifts, which showcase Hines' talent and further enhance the firm's global leadership team, will be effective starting January 1, 2025.

• Steve Luthman will lead Hines' real estate services efforts globally in a newly created role.
• Ray Lawler, current head of Hines' Asia Pacific region, will lead the Americas real estate services business in a newly created role.
• Lars Huber, head of Hines' European region, will take on an expanded role overseeing all of Europe.
• Jon Tanaka, head of Hines' Japan business, will now oversee the Asia Pacific real estate services business, with Saiko Ishii assuming the role of Country Head co-lead of Japan.
• Chris Rector, current co-head of Hines' Southwest Region, will lead integration efforts of all three geographies globally.

"Steve, Ray, Lars, Jon, Saiko, and Chris have demonstrated strong leadership and a deep commitment to client-centricity," said Laura Hines-Pierce, co-CEO of Hines. "They are vital to our continued growth and evolution as a company to uncover unique investment opportunities for both institutional and private wealth investors. On behalf of the entire Hines leadership team, I congratulate them on their promotions and look forward to their continued support in delivering the Hines standard to our clients, investors, and partners globally."

Steve Luthman

Since joining Hines in 2005, Mr. Luthman has contributed to the development, acquisition, financing, marketing, and disposition of more than 35 million square feet of commercial real estate in the Midwest, Southeast, and Canada. He led the capital formation for two Canada-specific discretionary investment vehicles comprising nearly C$3 billion of investment capital and led the firm's transformation committee responsible for concepting flagship discretionary fund formation. Additionally, he spearheaded Hines' innovative, mass timber product, T3, which now has 26 projects either completed, underway, or in conception totaling five million square feet globally.

Mr. Luthman has served on the Hines Executive Committee since 2022. He is a member of the Board of Directors for the Big Shoulders Fund, an education based non-for profit based in Chicago, IL. A graduate of the University of California, Santa Barbara, Mr. Luthman received a Master of Business Administration, with honors from the University of Michigan, Ross School of Business.

Ray Lawler

Mr. Lawler joined Hines in 2007 and served various roles in the Americas real estate services business. Since 2019, he has led Hines' Asia Pacific business as CEO, overseeing all regional development, acquisition, financing, marketing, and operation activities. In that time, Mr. Lawler grew Hines' Asia Pacific portfolio to nearly $8 billion of assets under management, a nearly four-fold increase, and expanded the business in the region from two countries to seven.

Before joining Hines, Mr. Lawler was a United States Marine Corps Captain and a Naval Aviator, receiving multiple commendations throughout his career. He graduated Magna Cum Laude with a Bachelor of Arts in Marine Biology from Boston University and earned his Master of Business Administration from Harvard Business School. Mr. Lawler has served on the Hines Executive Committee since 2018, is a member of Young Presidents Organization (YPO) Hong Kong and is an Urban Land Institute (ULI) Global Governing Trustee.

Lars Huber

Mr. Huber joined Hines in 1996, and in his prior roles, served as CFO for the European Region, oversaw equity capital raising for Hines in Europe and Asia, served as fund manager in the European Investment Management team, and worked on development and acquisitions as development officer in Germany. He has contributed to over $40 billion of investments in Europe for Hines and its partners, with deep experience across all major product types and across the risk spectrum.

Mr. Huber is the immediate past Chairman for ULI Europe. He is also a ULI Global Governing Trustee, as well as a member of the ULI Global Board of Directors and the ULI Europe Executive Committee.

Mr. Huber graduated from the European Business School in Frankfurt, Germany.

Jon Tanaka

Mr. Tanaka joined Hines in 2021 and brings more than 30 years of real estate development and investment experience to the firm. He led the rapid expansion of Hines' Japan portfolio to over 30 high-performing assets across residential, industrial and logistics, and office sectors, totaling $2 billion of asset value. Before joining Hines, he was Managing Director, Head of Japan Real Estate and member of the investment committee for Angelo Gordon's pan-Asia real estate investment team. Mr. Tanaka is an Executive Committee member of ULI Asia Pacific and served as a ULI Global Governing Trustee as well as Vice Chairman of ULI Japan.

Mr. Tanaka earned a Bachelor of Arts degree in East Asian Studies from Harvard University and a Master of Business Administration from the University of California at Berkeley. He also attended the Graduate School of Architecture at Kyoto University. He is fluent in Japanese and English.

Saiko Ishii

Ms. Ishii brings more than 20 years of experience in the Japanese real estate market's acquisition, development, and asset management. Before joining Hines in 2023, she was chief investment officer at Prologis REIT Management, overseeing acquisitions and dispositions, leasing, and portfolio management of the REIT's JPY800+ billion portfolio of logistics properties.

Ms. Ishii holds a Master of Science in Investment Management from Bayes Business School, University of London, and a Bachelor of Law from Gakushuin University.

Chris Rector

Since joining Hines in 2015, Mr. Rector has played a vital role in supporting and expanding the Southwest Region's breadth of sourcing, development, and management across several business platforms. His current leadership role is focused on expanding the Southwest Region's development, management, and acquisition capabilities, including office projects, land development, arts and cultural, mixed-use, multifamily, self-storage, sports/entertainment, and life science facilities.

Mr. Rector is passionate about serving the community, both in association with Hines and personally. He serves as a board member for the Rice Business Partners at the Jones Graduate School of Business at Rice University and the Boys and Girls Club of Greater Houston. He is active in the Urban Land Institute as a member of the Urban Revitalization Product Council.

Mr. Rector earned a Bachelor of Business Administration from Stephen F. Austin State University and a Master of Business Administration from Rice University with a focus on Real Estate.

About Hines

Hines is a leading global real estate investment manager. We own and operate $93.2 billion¹ of assets across property types and on behalf of a diverse group of institutional and private wealth clients. Every day, our 5,000 employees in 30 countries draw on our 65-year history to build the world forward by investing in, developing, and managing some of the world's best real estate. To learn more, visit www.hines.com and follow @Hines on social media.

¹Includes both the global Hines organization as well as RIA AUM as of December 31, 2023.

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