Hines has created a new business arm integrating ESG and venture investing.
EXP by Hines will “address the disruptive changes in the built environment” by combining two business groups – Global ESG and the Global Venture Lab.
The global real estate investor and developer said it would explore and address the shifts in real estate, experiment with innovative solutions around flexibility and sustainability, and attempt to expedite ESG outcomes.
Hines said it had brought together a leadership team for the new unit, tasked with uncovering new opportunities and disrupting the commercial real estate industry.
Doug Holte, a senior partner in Hines’ west region from 1987 to 2009, has returned as chief executive of EXP. He previously worked at the Irvine Company, and his own innovation firm, Agile Workweek Investments.
Holte said the new business was “an engine of growth” that would use “the most innovative ideas in capital, culture and environmental stewardship”, with a mission to “connect every stakeholder in the built environment and create healthy, activated communities.”
He added: “EXP is looking beyond the boundaries of real estate to solve complex problems while creating long-term value.”
He will work with global head of ESG Peter Epping and Kathryn Scheckel, head of Hines’ new Global Venture Lab.
To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews
