Phoenix, Arizona – Hines, the international real estate firm, announced today it will host a groundbreaking ceremony for its new downtown Phoenix luxury multifamily complex Adeline—its first multifamily property in the Phoenix market—on January 14, 2020.
Phoenix Mayor Kate Gallego, Councilmember Michael Nowakowski and City of Phoenix Community and Economic Development Director Christine Mackay are scheduled to speak along with Chris Anderson, senior managing director and Arizona leader for Hines. Hip Historian Marshall Shore also will speak.
Hines’ new 25-story, 379-unit luxury multifamily complex will feature an urban courtyard, junior Olympic-size swimming pool, and clubhouse, providing luxury living at its finest in downtown Phoenix near Talking Stick Resort Arena and the new downtown Fry’s grocery store.
“Hines has a long tradition of developing iconic luxury multifamily properties in New York City, Washington, D.C. and Houston. We are building on that expertise to develop Adeline, which will offer unparalleled luxury in Phoenix,” said Anderson.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 219 cities in 23 countries. Hines has approximately $124.3 billion of assets under management, including $63.8 billion for which Hines provides fiduciary investment management services, and $60.5 billion for which Hines provides third-party property-level services. The firm has 148 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,362 properties, totaling over 449 million square feet. The firm’s current property and asset management portfolio includes 514 properties, representing over 222 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.