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Hines announced on Wednesday that it had promoted two of its employees to act as CEO of regions across North and South America.
The new leaders will oversee activity for the developer and management firm, which oversees a portfolio of over $92 billion in real estate assets.
Steve Luthman was promoted from senior managing director to CEO of the company’s Midwest, Southeast and Canada regions.
Syl Apps was promoted from senior managing director to CEO of the South America region.
“Steve and Syl have each made significant impacts on the firm during their careers and have demonstrated invaluable skills that drive our teams, projects, and operations forward,” Jeff Hines, co-CEO of Hines, said in a statement. “We are confident that our business will continue to accelerate and thrive under Steve and Syl’s leadership.”
As regional CEOs, Luthman and Apps will be responsible for overseeing all development, acquisition, property management and operations in their territories.
The company said Luthman is responsible for spearheading development of Hines’ mass timber product that’s now used in 26 projects totaling 5 million square feet.
“Together with our strong teams across the regions, we’re focused on investing in new product line expansion to further distinguish our mixed-use offering and leading the continued convergence of product types, all of which is underpinned by our dedication to ESG principles,” Luthman said in a statement.
In addition to acting as CEO for South America, Apps will continue leading Hines’ investment business in Canada. He has acted as an investment partner for Hines Brazil since 2018, the company said.
“As Hines celebrates its 25th anniversary in Brazil this year, it’s an opportune time to continue to build on the platform by integrating our deep local market presence with our global expertise,” Apps said. “I’m excited to explore growth across South America while building upon our success in Brazil. Our focus will be on diversifying our investor base to capitalize on existing projects and aligning with Brazil’s leadership on ESG in our march to net zero across our portfolio by 2040.”