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Real estate firm chases global housing boom

Houston company at home around the world

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Diagonal Mar is a 431-unit high-rise residential project in Barcelona, Spain. Pokrovsky Hills is a 39-acre residential development in Moscow, Russia, which features 207 townhomes. And Garibaldi Repubblica is a 56.8-acre mixed-use project in Milan, Italy, which includes residential, office, fashion exhibition, retail and hotel space. Welcome to the world of Hines. The booming housing market in the United States is not confined by oceans. Europe, too, is enjoying a similarly robust market. And Hines, an international real estate firm based in Houston, Texas, is riding high on this multinational trend. "Without any question, house prices in Europe have dramatically increased. A lot of it is fueled by a reduction of interest rates," said Michael Topham, EVP of European operations for Hines. Topham, who works in London and oversees Western European operations for Hines, said that London has experienced especially rapid growth in home prices. "The greatest (price) increase by a long-shot ha...