float:right; margin-bottom: 0px; padding-left: 16px; And so, this has been part of our growth story, and then having this diverse skill set that we've really built over the last 10 years allows us to drive into you know potentially new opportunities. After graduating from Yale, I came back to North Carolina to pursue my law degree at Wake Forestafter seeing the craziness in the Ivy League, I wanted to be back with my family and the great people of North Carolina. Change is generally good for us yeah, we're generally able to profit at the margin when there is change, so you know that that is that is good for us. So, I think from that early perspective it really got built into our DNA, in the same way, that great design has, and it's something that's been infused in how we think about the long term. But really, before Hines, buildings were pretty boring, rectangular boxes and the prevailing wisdom was that it was too expensive to bring in a great architect and we really changed the formula, and that's not just by hiring the great architect and letting them do what they want to do, because then you would have gotten a building that was too expensive and a floor plan that may not have been commercially viable. text-align: left !important; We started our first fund in the mid- 90s, really, because we were doing emerging markets, real estate development in emerging markets, and it was very difficult for one investor to plunk down a big bet in one project in China, it really became necessary to raise a fund so that investors could diversify their risk across many countries and many projects in order to get that done. } else { padding-bottom: 0px; let scrollHeight = jQuery('.results_table_container').get(index).scrollHeight; Jeff, I mentioned in your bio that you have dramatically scaled the business. You know we did it by organic growth and there were a lot of lessons learned along the way. width: 100%; $(".expand-all").on('click', () => { letter-spacing: 0.03em; } The ability to create returns at the property level itself. .votebox_legend .non_result_row { margin: auto; An America-First Economy color: black; Jeff Hines: Well, weve talked a lot about us on this on this call, and the thing to really stress is the way we make decisions at Hines is maybe a little different than other firms. }. Ive heard you talk about WeWork and shared office space and the fact that you know Hines needs to adapt to client's needs and being flexible for their needs and desires as far as your tenant base is concerned.
.contact_entity {font-size: 1.5em ;margin-top: 0.6em; margin-bottom: 0em;margin-right: 0.5em;} Bo Hines has been active from a very early age. margin-top: 1px; margin-bottom:0px; }); I will work to secure term-limits and will personally sign a pledge not to serve more than four consecutive terms. And is now ready to test his luck in the election this time around. } What are you feeling right now as CEO as it relates to what kind of the most pressing issue is to kind of get back up and get going post pandemic? Hines got married in 2017 to Olivia Andretti. .widget-value { My Dad purposely didn't allow me to come to that and I think that's really important. There was a tad of what Laura said of both pride and maybe a tad of arrogance that you all were building the very, very best buildings there were, so why would you buy anybody else's? To fight for regulation reform that simplifies business. Stay up to date with what you want to know. Willy Walker: Does that present an opportunity for a firm of your size? Click here to read the survey answers. But it was a purposeful decision, I think, and I think that's important for me, knowing that Ive explored other career paths and opportunities and Ive found my way to Hines, and I think I was very purposeful about that because of the opportunity I had and lack of pressure that I had. Once we had raised the funds, we started to see the benefits of it, and what we could provide as a firm to that business, so we got into it more and more and it's just you know Id say we are really leaned into the last decade, but a lot of that is because of the success and experience we had prior to that. padding-left: 10px; It makes my life more difficult. He's removed all mentions of President Trump and his anti-abortion stance from his website, despite clearly telling the Raleigh News & Observer in May that "Abortion should be made illegal throughout the United States. .leg-hnt-section-title { .leg-hnt-hide { [1] Hines earned a bachelor's degree in political science from Yale University in 2018. Jeff Hines: I would also add that, in terms of what Laura was saying about knowing what the tenants need before they know it one of. margin-bottom: .75em; So, let's start with just how'd you do it? It was a very different world back then, and so I got incredible opportunities on that front and certainly was exposed to the business broadly. It has a presence in 225 cities, in 25 countries and $144 billion of assets under management. Freedom of Speech } display: flex; Could we improve the operation of it to improve the bottom line? She also interned at Eastdil Secured where she was responsible for underwriting, analysis, market research and the development of offering memorandums for a variety of asset types across geographies. Hines Family Trust means a trust, the vested beneficiaries of which include members of the Hines Family and in which the only trustees are Gerald D. Hines, JeffreyC. Bo Hines, a congressional candidate from North Carolina, twice claimed that he and his wife "can't afford to give up a month's salary.". background-color: #6db24f; Axios' Lachlan Markay first noted Hines' financial situation, which includes no reported bank account or earned income and compensation, and zero loans or liabilities. I actually don't have a ton of memories of you know, really, being out in real estate and being on job sites. Click here to read the survey answers. New reporting from Business Insider dug into federal records that show Bo Hines does not take a salary or report income from a job - though that hasn't stopped Hines from pretending to North Carolinians that he can't afford to give up a month's salary. font-size: 20px; A quick background on Hines and then Ill introduce Jeff and Laura. Top editors give you the stories you want delivered right to your inbox each weekday. We were frantically buying toilet paper, figuring out how to use Zoom, and watching the stock market plummet. He played college football for the NC State Wolfpack and Yale Bulldogs. [1][2], .votebox { Ballotpedia features 393,611 encyclopedic articles written and curated by our professional staff of editors, writers, and researchers. background-color: #ccc; Wiley Nickel defeated Bo Hines in the general election for U.S. House North Carolina District 13 on November 8, 2022. $('.showResponses').show(); Diversity and Inclusion are something that every firm is really trying to make a big push into; how do you do that in the world that we've had for the last year. If you have any comments or questions about the evolving economic landscape and how it is impacting the CRE space, our experts are available and fully operational to help. Ballotpedia does not edit or correct typographical errors unless the candidate's campaign requests it. I was on my way to playing football professionallybut I wanted to do more for the people of North Carolina who had given me so many opportunities. padding: 2px 0; } .inner_percentage.Democratic { background-color: green; Counties | After that, he enrolled at Yale University because of his interest in politics. font-size: 16px; Willy Walker: You probably got McKinsey in; you probably got some former classmates from Mackenzie. .inner_percentage.Green { letter-spacing: 0.03em; text-align: left; Subscribe to Email Updates : Hines' campaign did not initially respond to Insider's requests for comment. .electionsectionheading { } That's when we sort of made the decision to start acquiring assets in addition to developing assets and its been more of an evolution rather than a revolution to where we are, Id say. To me it's more, how can a building owner, and building manager really be thinking proactively to solve problems for tenants and clients that they don't even know they have. I think, single family for rent is another opportunity for us and where we see coming out of this market moment, I think we're going to see a lot of opportunity for that in some of the mid-tier cities and some of those areas. Peter Doocy Wife Is Peter Doocy of Fox News married. What are you seeing from a when we look forward, what do you think's really going to change the landscape from a kind of a prop tech standpoint? width: 100% What was it at that time that -- I mean, you were such a successful development firm at that time Im just curious as to what it was that led you to say: We need to add the people, the resources, the know-how to scale that side of our business over the next decade? }) On that. Our country is in dire need of immigration reform to ensure we have a sustainable immigration system that is concentrated on assimilating talented and hardworking individuals that have demonstrated they will abide by the law. Willy Walker: We will be back next week with another Walker Webcast. Jeff Hines: First, Willy, thanks for having Laura and I on this series that you've created. background-color: #db0000; margin-top: 5px; .votebox-scroll-container { Getting your hands dirty with the real estate. .votebox-results-cell--check { padding-bottom: 5px; (function() { [2], Hines attended North Carolina State University to play college football for the NC State Wolfpack. Willy Walker: And on that, you met and still work with all of these incredible architects. a.communitylink { color:black; font-weight:bold; } font-size: 12px; padding-left: 0; .race_header, .results_text, .results_table_container, .votebox_legend { column-count: auto; } [1] He attended Charlotte Christian School, and played football as a wide receiver. .widget-row.value-only.black { Hines, whose campaign received over $775,000 from his family's trust fund, enjoyed support from former. } .mw-body #mw-content-text th.votebox-results-cell--text { DNCC "Bo Hines (NC-13) Research Memo," page 4, citing divorce filing number 020522 per Lexis-Nexis Marriage & Divorce Records database, accessed March 29, 2022. You don't want to have someone be at a family firm because they feel they need to be or have felt pressured to be. Willy Walker: But Laura expand on that for a second, for me, because not only beyond the design in the long-term outlook of what building a beautiful building would bring, but Hines was also extremely early as it relates to sustainable development. Willy Walker: So Laura your Dad just talked about technology, and I know you all, are an investor in Fifth Wall and I had Brendan Wallace on the Walker Webcast about a month ago, and he was fantastic with Casey Berman from Camber Creek just talking about where Fifth Wall is making investments. It doesn't just come from us. color: white; .indicate_scroll { } Different product types sort of merging and becoming you know, having the definition be a little fuzzier between them going forward. @media (max-width:600px) { Laura Hines-Pierce: Thank you for having us. Willy opens the episode by providing listeners with some background on Hines and how it came to be the widely respected institution it is today. } In September 2018, she was named the firms Transformation Officer to support the firms strategic and transformative efforts across the business, and in February 2020, she was promoted to Senior Managing Director Office of the CEO. Hines, married to his wife Mary Charles since July 2021, earned an undergraduate degree from Yale and a law degree from Wake Forest University. It has a presence in 225 cities, in 25 countries and $144 billion of assets under management. .results_row { So, on that, Jeff you know, at the same time as buying other people's properties, you also really made a push into Europe. padding-bottom: 5px; } He earned a scholarship at North Carolina State University to play college football for the NC State Wolfpack. font-style: italic; We weren't involved in the political process for a long time. You know it's funny, our history is so much a part of our culture and it's absolutely woven into our DNA and just on the previous topic, a little bit of a funny story, I think it's taken time to evolve into who we are, but we are very good at evolving and I think there is a lot of debate of how do we acquire buildings and is that the right thing for us to do? font-weight: 200; } if (document.getElementById('leg-hnt-content63c7f5154b2bc').classList.contains('leg-hnt-hide')) { color: white; I will create a national coalition to fight for these things. It is truly astounding what the team at Walker & Dunlop has accomplished, and like my two guests today, we are now faced with what's next. You know I continue to think flexibility is going to be something that our clients and tenants are going to be looking for, and you know the way I would frame it is less in the sense of you know having FLEX office as an option. And Im simply thrilled that the Walker Webcast has been watched live or on replay by over 300,000 people, and that it continues to attract a large audience every week. color:white; column-width: 175px; background-color: #f9f9f9; display: flex; Willy Walker: Laura I just heard your Dad use the phrase beds and sheds which I have not heard before and Im going to use it from here on out, I just love it. I think the one thing that if we're talking about the institutional investor world, there may be a different answer for say the retail or high net worth group. }; $('.pastResponses').show(); background-color: #db0000; Upon deciding to run for Congress, he chose to fully invest his time and energy into representing this community. It takes a lot of money and a lot of patience. setTimeout(function() { defer() }, 500); padding-bottom: 8px; I mean, back when your father started working with Philip Johnson, all the great architects in the world were designing university campuses and art museums. width: 350px; As the episode comes to a close, Willy shifts from a discussion of the industry to more personal subject matter by asking Jeff about the lessons hes learned over the years and what he hopes to instill in his children going forward. .leg-hnt-leadership > div { And Id say again, the answer is probably several fold, and one big driver, and this is also sort of a driver for us making a big international push. margin: 5px auto; Bo Hines is little more than Madison Cawthorn with an Ivy League education. Our cultural capital I think has been, I think its whats allowed us to over the last year be highly effective because we have such a strong cultural glue. $('.showResponses').on('click', () => { Source. Well, yesterday the Mortgage Bankers Association released their annual rankings for 2020 and Walker & Dunlop was the largest provider of capital to the Multifamily industry. Bo Hines, a 27-year-old Republican candidate for the US House of Representatives. Laura recalls her early years at Hines and how she never once felt parental pressure to join the company. Jeff Hines: Just to emphasize that. float: left; padding-top: 8px; } event.srcElement.innerText = '[hide]'; .clearfix { } And Willy, you called us a global real estate developer. How was it that you took this domestic focused business and had the ability to go and not only enter other markets? North Carolina's 5th congressional district, 2022 United States House of Representatives elections in North Carolina District 13, "Wiley Nickel wins 13th Congressional District | The North State Journal", "FOOTBALL: Yale scores high-profile Hines", "Yale Wide Receiver Hines Finally Healthy", "In his past, football at NC State. So, this next year we're going to have more underway in the living sector than we do in the office sector. Nickel leads Hines 51.32 percent to 48.68 percent, with all precincts reporting. margin: 0px 10px; font-weight: bold; Willy Walker: And as you look out, I think, right now, and I want to get to the asset management side of it because obviously it's so much more than development. clear: both; Exactly I gotcha, it's great. I witnessed the legislative process first-hand as an intern on Capitol Hill and studied local government issues. font-weight: 300; .hideResponses { display: none;} . Click here to contact us for media inquiries, and please donate here to support our continued expansion. Bo and his wife, Mary Charles, live a very modest lifestyle and understand the struggles that North Carolina families are experiencing. [9] Once the North Carolina Congressional lines were redrawn, Hines switched to run in the open 6th congressional district based in Greensboro, North Carolina where he spent much of his time campaigning. "Throughout his entire life, Bo's summers have been spent on this farm and it has helped shape his work ethic and appreciation for what our farmers face on a daily basis," he said. top: 2px; Those simple requirements are the first steps in ensuring our elections are honest and fair. height: 56px; height: 22px; .outer_percentage { Federal courts | Contact our sales team. .race_header.democratic { You know there's real value if you can engineer the building to be significantly more efficient. .mw-body #mw-content-text .votebox .race_header h3.votebox-header-office-name { Elections in 2023 | Willy Walker: Jeff, Laura just commented that you've grown the firm by 15% during the pandemic. .inner_percentage, .inner_percentage.Nonpartisan, .inner_percentage.Independent, .inner_percentage.Constitution, .inner_percentage.unknown { } I know if you asked my Dad that question about his childhood, he has a very different answer because my grandfather used to bring him to construction sites as an eight-year-old before school and you know, probably in very dangerous situations walking through construction sites! width: 100%; We are certainly very proud of our history, but that's one of the ways we're serving investors, in addition to some of the others. .image-candidate-thumbnail-wrapper .image-candidate-thumbnail { } Jeff focuses on three key factors that have led Hines to have the well-regarded reputation they have today. But you really do have to be local, and it takes time. font-weight: 100; That's an astounding 12X growth in AUM over the past 15 years. } padding:7px 8px 8px; Bo Hines, a congressional candidate from North Carolina, is self-funding the majority of his campaign, according to the FEC. We know a lot of things that are already happening have been accelerated by COVID big time. So, you know the history is so much a part of our firm, but growing up, you know, I think my Dad actually made a very purposeful decision to keep us a little bit arm's length from the business and I think that was a decision based on really wanting us to make our own decisions about our career path, about our journeys in life, and not feeling pressured to join the business. ", "North Carolina Supreme Court strikes down redistricting maps", "Hines gets Trump endorsement in open NC Congress seat", "Local conservatives revolt against Trump House favorite", "Hines faces GOP pushback to congressional bid ahead of NC Trump rally", "Trump-endorsed Bo Hines wins N.C. GOP House primary", "Bo Hines thanks supporters, concedes NC-13 to Wiley Nickel", "Wiley Nickel wins US House race in Triangle, Trump-endorsed Bo Hines concedes", "Nickel wins North Carolina US House seat over GOP's Hines", "A 26-year-old Trump-backed congressional candidate appears to be fueling his campaign with trust-fund money", "NC congressional candidate championing 'America-first economy' hands out Chinese made hats to voter", "House MAGA squad seeks to expand by boosting challengers to fellow Republicans", "House hopeful Bo Hines has message for GOP donors: He's not Madison Cawthorn 2.0", https://en.wikipedia.org/w/index.php?title=Bo_Hines&oldid=1134096298, Candidates in the 2022 United States House of Representatives elections, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 17 January 2023, at 00:26. 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