Louveira Swans Industrial Park, situated on a 54.6-acre site, isan expansion of Louveira Distribution Park. The expansion will bedeveloped in three phases, all to be done by December 2009.

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The 78.4-acre Cajamar Distribution Park, going up alongAnhanguera Highway near Sao Paulo's ring road, will be built in twophases. It too will be completed in December 2009.

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The logistics parks are funded through Hines CalPERS Brazil FundII, a joint venture between Houston-based Hines andSacramento-based CalPERS. The fund targets investments in office,industrial and residential markets in Brazil, with the option toextend its reach to Argentina and Chile. Hines' executives wereunavailable for comment by deadline.

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Hines entered the Brazilian market 10 years ago. Since then, thefirm has developed more than 12 million sf of office, industrialand residential space and currently manages 9.5 million sf. Amongits prized holdings is a 409,000-sf architectural landmark atAvenida Dr.Chucri Zaidan 246 in the Marginal Pinheiros submarket. Itsother logistics developments are located in Araucaria, Rio, Embuand Manaus. Hines is focused on the Brazilian markets of Sao Paulo,Louveira and Embu [suburban Sao Paulo], Rio de Janeiro, Curitibaand Campinas.

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