With an eye on expansion in Italy and Spain, Hines acquires Helix
Real estate firm Hines has agreed to acquire Helix, one of the UK’s leading specialist commercial property management companies, as part of push to expand in European markets, such as Spain and Italy.
The Helix deal signals the launch of its new customer-centric and experience focused management services and operations platform in Europe. The completion of the acquisition is subject to FCA approval.
Based in London, Helix has a team of 60 professionals providing the full spectrum of property management services, managing a UK-wide commercial real estate portfolio, spanning all asset classes, which is valued at over £3.5 billion.
The two companies already enjoy a close, long-standing relationship developed over the last 10 years, with Helix providing property management services across the majority of properties in the Hines UK portfolio including 20 Old Bailey, 7 Soho Square and Atlas House in London, alongside all of the Hines European Core Fund (HECF), Hines European Value Fund (HEVF) and Hines Global Income Trust (HGIT) assets. In addition, Helix manages other well-known assets such as The Ark, 6 Bevis Marks, and One Westferry Circus.
Operating from its offices in the West End of London, Helix will become part of the wider Hines business, continuing to service its wide-ranging high-quality client base, alongside Hines’ owned assets.
The acquisition represents a significant milestone for Hines in Europe as it develops its management services and operations offering, which is being led by Head of European Management Services and Operations and Senior Managing Director, Ronen Journo. Since joining the firm from WeWork a year ago, Ronen’s expertise on global workplace trends, technology and customer experience - developed across a career including Cisco spanning over 20 years - has been assimilated across Hines’ European multi-asset portfolio of office, industrial, residential, retail and mixed-use properties to establish this new platform.
In addition to its UK growth plan with the acquisition of Helix and ongoing living operations platform including student accommodation brand, aparto, Hines is also delivering an ambitious growth strategy across its European network. Its French, German, Italian and Nordics teams are actively recruiting to secure top management services and operational talent to aid the platform’s organic growth across Europe. This compliments a strong offer already in The Netherlands, operating logistics assets, and growing student and build-to-rent operations in UK, Ireland, Italy and Spain.
Lars Huber, CEO for Europe at Hines, said: “This important acquisition represents the springboard for the launch of our Management Services and Operations platform across Europe. Delivering the very best workplace and living experience for our customers has always been our philosophy, but as a new age of technology-driven, well-being and ESG focused real estate dawns, we’re excited to be recalibrating and expanding our offering.”
Ronen Journo, European Head of Management Services and Operations at Hines, 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.”