Gerald D. Hines, founder and chairman of real estate manager Hines, died Sunday at age 95, at his home in Greenwich, Conn., confirmed Hines spokesman Mark Clegg.
Mr. Hines in 1957 founded his Houston-based real estate investment firm, which has since become one of the leading firms in the global commercial real estate industry with properties in 225 cities and 25 countries, according to a news release.
Aside from the commercial real estate business, Hines had $37 billion in assets under management as a real estate investment manager as of Dec. 31, according to Pensions & Investments data.
His son Jeffrey C. Hines, president and CEO, takes on the role of chairman.
"Beyond his significant, impactful career and his pioneering contributions to architecture, sustainability and the built environment, Dad felt his greatest achievement is the team of dedicated professionals who have, and will continue to, carry on his legacy of peerless quality, integrity and innovation," the younger Mr. Hines said in the news release.
Before founding his firm, the elder Mr. Hines graduated with a mechanical engineering degree from Purdue University and received honorary doctorates both from Purdue and the University of Houston.
He is survived by his wife Barbara, four children, 15 grandchildren and one great-grandson. A private ceremony will take place in Aspen, Colo., and the firm said a celebration will take place on a date when it is "safe to congregate."
