Hines has promoted Steve Luthman to chief executive officer of the U.S. Midwest and Southeast regions. He is now responsible for all development, acquisition, asset management and operations activity in these regions.
Since joining Hines in 2005, Luthman has contributed to the development, acquisition, financing, marketing and disposition of more than 33 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 task force responsible for concepting flagship discretionary fund formation. Additionally, he created and spearheaded Hines’ innovative, mass timber product, T3, which now has 26 projects either completed, underway, or in conception totaling 5 million square feet globally.
Hines currently has $5.7 billion assets under management in the Midwest region, and $3.1 billion assets under management in the Southeast region.
