Press Releases

HINES NAMED GREEN DEVELOPMENT AWARD WINNER
Award to be presented at NAIOP conference development '06: the annual meeting for commercial real estate

October 16, 2006

Washington, D.C. — The National Association of Industrial and Office Properties (NAIOP), the nation's leading organization representing the interests of commercial real estate executives engaged in industrial, office and mixed-use development, today announced that Hines has been awarded the 2006 Green Development Award.

Hines was selected for the award for 1180 Peachtree in Atlanta, Ga., a LEED Core and Shell Gold-certified, multi-tenant speculative office development.

The award, developed in consultation with the U.S. Green Building Council, the nation's leading coalition of building industry leaders working to promote environmentally responsible building and development, will be presented to Hines Senior Vice President Dan Rashin during a special ceremony sponsored by Swinerton Inc. on Wednesday, November 1, at NAIOP's conference at the Hyatt Regency San Francisco.

"Our firm has had a longstanding commitment to sustainability," said Hines President Jeffrey C. Hines. "We are pleased to offer Atlanta its greenest high-rise office building, and we are grateful to the NAIOP for this high honor." "Hines symbolizes the innovation, creativity and environmentally-friendly approach that our members are employing to develop model properties," said Thomas J. Bisacquino, NAIOP president. "NAIOP and its member companies are committed to developing properties that adhere to the highest standards in the industry and believe that socially conscious development is essential to the economic vitality of the industry and the nation."

Energy-Efficient Technologies and Considerations
1180 Peachtree, a 41-story, 670,000 sf office tower in Midtown Atlanta, is the first high-rise office building in the southeast to be certified for Gold status in the Leadership in Energy and Environmental Design Core and Shell Development program (LEED-CS).

The property offers environmentally-sensitive and energy-efficient technologies and considerations including:

• Ten-foot floor-to-ceiling glass to allow natural light to penetrate to the building core
• Unique water-management system using captured and stored storm water and condensate from the building's mechanical system to provide 100 percent of the project's irrigation water, circumventing the need for city water for irrigation
• Outside air delivered via the pre-conditioned air system is measured and controlled in air monitoring stations with changeable set points
• Vegetated roof areas of at least 50 percent, and a shading veil on the 41st level roof
• Mechanical systems that are capable of controlling humidity levels, which control mold and mildew

The property is within walking distance to a wide amenity base and has more than one acre devoted to public spaces, plazas and garden seating areas adjacent to the site for the Atlanta Symphony Orchestra's proposed Symphony Hall.

ROI Expected in Three-to-Five Years
1180 Peachtree is currently 88 percent leased, only months after completion of construction. Tenants include a mix of office users - including 440,000 sf leased to law firm King & Spalding - and upscale restaurants. Other planned retail uses include a high-end men's clothier and One Georgia Bank.

Designed and constructed with a purpose of operating efficiency, achieved by utilizing a combination of an optimized building envelope and highly-effective and efficient mechanical systems, 1180 Peachtree is expected to yield an annual operating cost savings of approximately $500,000.

A three-to-five year return on investment for energy investments and a two-month return on investment for water saving technologies are expected.

NAIOP created the Green Building Award to recognize the growing number of firms engaged in green development.

"NAIOP's Green Development Award is an exciting and important contribution to the green building movement," said Rick Fedrizzi, president/CEO and founding chairman of the U.S. Green Building Council. "This prestigious award will encourage real estate developers nationwide to engage in green development, helping to lead the transformation of our built environment to green."

This is the second year for the award, presented in 2005 to Corporate Office Properties Trust for its development at 318 Sentinel in Annapolis Junction, Md.

Following a nomination period, three finalists were selected for the award. In addition to Hines, finalists included The Peterson Companies for the Wetlands Studies & Solutions property in Fairfax, Va., and Gerdin Edlen's Oregon Health & Science University Center for Health and Healing in Portland, Ore.

To be considered for the award, applicants were judged on a number of criteria, including sustainable sites, indoor environmental quality, water efficiency, energy and atmosphere, economic viability and other sustainable attributes. Entries for the award were reviewed by industry leaders, including members of the U.S. Green Building Council and its affiliate, the Green Building Alliance.

About NAIOP: The National Association of Industrial and Office Properties is the nation's leading trade association for developers, owners, investors and asset managers in industrial, office and mixed-use commercial real estate. Founded in 1967, NAIOP comprises more than 14,000 members in 53 North American chapters and provides networking opportunities, educational programs, research on trends and innovations and strong legislative representation. For more information, visit www.naiop.org.

About Hines: Hines is a privately owned, international real estate firm involved in real estate investment, development and property management. The Hines portfolio of projects underway, completed, acquired or managed for third parties includes 915 properties representing more than 360 million square feet of office, residential, mixed-use, industrial, hotel, medical, retail and sports facilities, as well as large, master-planned communities and land developments. With offices in 64 U.S. cities and 15 foreign countries, and controlled assets valued at approximately $13.5 billion, Hines is one of the largest private real estate organizations in the world. Visit www.hines.com for more information.

About USGBC: The U.S. Green Building Council is the nation's leading coalition of corporations, builders, universities, government agencies, and nonprofit organizations working together to promote buildings that are environmentally responsible, profitable and healthy places to live and work. Since its founding in 1993, the Council has grown to more than 5,500 member companies and organizations, a 50-person professional staff, a broad portfolio of LEEDŽ products and services, the industry's popular Greenbuild International Conference and Expo, and a network of 76 local chapters, affiliates, and organizing groups.

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Kathryn Hamilton, Vice President for Marketing and Communications
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