Hines looks for banks that don’t have to play catch-up. The privately held real estate firm with properties in more than 100 cities worldwide specializes in sophisticated, multi-dimensional projects – and they need banking resources to match.
Chris Anderson, Phoenix-based managing director for Hines’ Southwest Region that includes 550 employees and more than $3 billion in annual transactions, wants banking expertise and flexibility that can stay in step with the company’s expansive vision. “We came to Alliance Bank when we were acquiring the land for Chandler Viridian, which had lots of title issues, remnants of a failed development and all sorts of complications. Alliance was the best group for the project: They understood what we were trying to achieve and brought important local knowledge.”
Hines selected Alliance Bank precisely because this Arizona-focused banking resource was able to dig in and understand the project right alongside the developers. “Many large banks would have looked at this project and said it was too complicated. Alliance Bank worked hand in glove with us and they were absolutely wonderful,” says Anderson.
Chandler Viridian, a high-profile, 25-acre, mixed-use residential, office, retail, restaurant and hotel development in the greater Phoenix area, is a prime example of how the right bank can help a company unlock opportunity. Another example is Hines’ 2013 acquisition of Kierland One, a four-story, Class A office building in North Scottsdale. “Alliance Bank knew the needs of the project and our vision for Kierland One, and structured terms that were reasonable and we could hit. For us it was a bulletproof deal,” he adds.
Beyond the deal terms, the personal dynamics are important to clients like Anderson. “I spend a lot of time with our bankers – and you better like who you’re working with because you’re going to be seeing them a lot. If you don’t like meeting with your loan officer or the leadership of the bank, it can be tedious. That’s not the case with Alliance Bank. We’re all raising our families here, and we all have a sense that we have a community to build together.”