Hines has launched Willowick Residential, a multifamily property management firm.

The new property management company will work in partnership with Hines' growing multifamily portfolio of 63 projects across 38 US cities, including luxury towers, urban mid-rises and traditional garden-style apartments. It is now managing nine properties throughout the US with more in the pipeline. Over the next two years, it expects to have 10,000 units under management.

Willowick will offer acquisition services, advisory services, engineering and maintenance, team member recruiting and development, lease-up and transition services, marketing and communications, reputation management, market analysis and research, vendor compliance and information technology. The venture is named after founder Gerald D. Hines' first multifamily residential building in Houston's River Oaks area.