Hines has launched Willowick Residential, a multifamily property management firm that 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.
The company is named after founder Gerald D. Hines’ first multifamily residential building in Houston’s River Oaks area, Willowick Residential. 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.”
Launched earlier this year, Willowick Residential is currently managing nine properties—two in the DFW market, five near Houston and two in the Chicago metro. 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.