HOUSTON–David Steinbach has been named CIO of Hines Global REIT Inc. Steinbach has been a Hines employee since 1999. In that time he oversaw the acquisition of more than $3 billion in assets for Hines affiliates both in the United States and internationally.

“David has been an integral part of the Hines Global REIT management team since its inception and is well-suited to lead our investment activities going forward,” says Sherri Schugart, president and CEO of Hines Global REIT.

In his new role, Steinbach will be leading a team of professionals who are responsible for assembling Hines Global REIT’s real estate portfolio. The team consists of Managing Directors Ken Jett, Kenton McKeehan and Blake Williams. The current portfolio totals more than $4 billion.

“David’s strong relationships with other leaders across Hines’ global investment platform, as well as members of the international commercial real estate investment brokerage community, have positioned him well for this new role,” says Hines President and CEO Jeff Hines, in a statement.