Jeffrey C. Hines and Laura Hines‑Pierce

It was a busy year for Hines in Southern California. 

The family-owned real estate investment firm, which is managed by Jeffrey C. Hines and his daughter Laura Hines‑Pierce and holds $93 billion in assets under management, went on a buying spree throughout the southern tier of the Golden State over the past year.  

The firm acquired Pasadena Gateway Villas, a four-story, 140-unit, 138,000-square-foot multifamily complex in Downtown Pasadena, in a $60 million transaction. The deal marked the first time the luxury complex changed hands since opening 23 years ago. 

Hines also acquired Extra Space Self Storage in Cerritos — one of L.A. County’s seven gateway cities — in a $91 million deal that brought the 260,000-square-foot, three-story storage facility into the firm’s fold. The October 2024 deal came out as the largest single-property self-storage deal in the U.S. last year. 

The firm was busy, too, leasing up the retail portion of its massive West Edge mixed-use campus in the Santa Monica region. The 4.8-acre, live-work-play development opened in 2023, and spans more than 761,000 square feet. West Edge features 600 luxury apartments, more than 217,000 square feet of office space, and 80,000 square feet of retail. 

Finally, Hines broke ground on Riverwalk, another enormous development that will transform San Diego’s Mission Valley submarket. The $2.5 billion project is expected to take a decade to complete, but in the end will deliver 4,300 housing units, 152,000 square feet of retail and 1 million square feet of office space, while adding 100 acres of trails, bikeways and pedestrian walkways to any area that once held the Mission Valley Riverwalk Golf Club.

“In the past 12 months, Hines’ Southern California footprint has grown through strategic acquisitions and asset milestones,” said Hines-Pierce in a statement.