International real estate firm Hines has agreed to acquire Helix, a UK specialist commercial property management company, to launch its new management services and operations platform in Europe.
Financial details were not disclosed.
The completion of the acquisition is subject to Financial Conduct Authority (FCA) approval.
Based in London, Helix has a team of 60 professionals providing property management services, managing a UK-wide commercial real estate portfolio, spanning all asset classes, which is valued at over £3.5 bn (€4 bn).
The two companies already enjoy a 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 current client base, alongside Hines’ owned assets.
Led by Amy Soar (pictured left), 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.
Management services
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.
Hines has been managing properties in the US since its inception in 1957, and now seeks to provide an enhanced user and customer experience across Europe.
Hines will offer a full end-to-end service spanning construction procurement, mechanical & technical engineering, facilities management, building maintenance, energy performance monitoring, asset and risk management.
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.'
Logical evolution
Ross Blair, senior managing director and country head of Hines UK, (pictured right) said: 'Helix is a well-established, first-class property management firm, who we have got to know, trust and respect over many years working together.
'Coming together represents a logical evolution for both like-minded businesses, and there is a strong alignment with our service orientated values, ethos and working cultures. We’re excited about what we can deliver for our clients.'
Soar said: 'Becoming part of the Hines family, one of the biggest and most respected names in global real estate, represents a positive and exciting new chapter for our business.
'The move represents a great fit for Helix and our clients as we can offer a more holistic approach, with the opportunity to access a wider range of services, skills, knowledge and expertise from a global leader. We are looking forward to exciting and successful times ahead.'
