DALLAS, TX - December 27, 2005 -- In a transaction valued at over $109 million Houston-based developer Gerald Hines acquired 792 acres in Las Colinas, the last large blocks of undeveloped land in the 12,000-acre development. Las Colinas Land LP had held the land for more than 15 years.  The land value worked out to be approximately $4.00/sf.  It came to market in late October, pitting Hines against a large number of institutions, private companies and investment advisers.  Key to the deal was Hine’s ability to close quickly for cash.  Robert Grunnah, President and Darrell Hurmis, Executive VP of the Investments/Land Division handled the sale.

Henry S. Miller Commercial, founded in 1914, is Texas’ largest independent commercial real estate firm and a member of The Commercial Network, one of the largest affiliations of commercial real estate firms in the nation.