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HOUSTON-As part of its nationwide objective to acquire or develop logistics parks throughout Brazil, Hines has started work on the one-million-sf Louveira Swans Industrial Park and 1.1-million-sf Cajamar Distribution Park, both in the Sao Paulo area. The firm has five other logistic parks underway or completed, with plans to develop an additional 14 in the next three years.

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

The 78.4-acre Cajamar Distribution Park, going up along Anhanguera Highway near Sao Paulo’s ring road, will be built in two phases. It too will be completed in December 2009.

The logistics parks are funded through Hines CalPERS Brazil Fund II, a joint venture between Houston-based Hines and Sacramento-based CalPERS. The fund targets investments in office, industrial and residential markets in Brazil, with the option to extend its reach to Argentina and Chile. Hines’ executives were unavailable for comment by deadline.

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

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