Hines is to buy UK property management firm Helix as it launches its own European management platform.
The 60-strong, London-based Helix currently manages a UK-wide commercial real estate portfolio, spanning all asset classes, valued at more than £3.5bn.
Over the past 10 years Helix has provided property management services across the majority of properties in Hines’ UK portfolio, including 20 Old Bailey, 7 Soho Square and Atlas House in London, as well as all of its European Core Fund (HECF), European Value Fund (HEVF) and Global Income Trust (HGIT) assets. In addition, Helix manages other well-known assets such as The Ark, 6 Bevis Marks, and 1 Westferry Circus.
Following the deal, which is subject to FCA approval, Helix will become part of the wider Hines business, continuing to service other clients alongside Hines-owned assets.
The board and senior management team, led by chief executive Amy Soar (pictured with Hines’ Ross Blair), will remain in place, with Hines director Ivan Harrison transferring to Helix to assume the role of UK head of operations. Helix’s owner Robin Fell, who founded the business 25 years ago, will retire upon completion of the deal.
Soar said the move was a “positive and exciting new chapter for our business”, adding that it was “a great fit for Helix and our clients”.
Lars Huber, chief executive for Europe at Hines, said that the deal was “the springboard” for the launch of its management services and operations platform across Europe. The platform is being led by senior MD, Ronen Journo, who joined from WeWork a year ago.
Journo said: “Consolidating Hines’ long-standing relationships with partners and customers with a fresh people-centric, technology-enabled and ESG-driven approach to developing and managing living and workspace is the essence of the new platform. Our commitment to building on our market leadership position and enhancing our service offering is illustrated by this UK acquisition and the further growth we will deliver across our European network.”
To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews
