Hines, an international real estate firm, is to acquire Helix, a UK specialist commercial property management company, signalling 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 dedicated 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 GBP3.5 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.
Led by Amy Soar, the Helix board and senior management team will remain in place, with Hines Director Ivan Harrison transferring to Helix to assume the role of UK Head of Operations, to facilitate the integration of the two companies. Helix’s owner Robin Fell, who founded the business 25 years ago and led its growth over that period, will be retiring from Helix upon completion of the deal
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.
Source: propertyfundsworld.com on the 28th September