REBusinessOnline

HINES BEGINS IPO FOR HINES GLOBAL REIT

HOUSTON — Houston-based real estate firm Hines has commenced the initial public offering for Hines Global REIT, a public, non-traded real estate investment trust. The company is seeking to raise a maximum of $3.5 billion through the offering.

Hines will focus on commercial real estate assets and expects to invest in the office, industrial, multifamily and retail sectors in the United States and worldwide. The company will also consider value-add properties to take advantage of the current distressed market. Hines expects an approximately 8- to 10-year hold period for the properties.

In a statement, Charles Hazen, president of Hines Global REIT, said, “In this challenging market, we see many opportunities on the horizon. We plan to make strategic acquisitions and dispositions, and will be seeking out undervalued assets as well as aggressively pursuing opportunities in markets around the world, which may offer additional diversifications as well as attractive risk-adjusted returns. With Hines as our sponsor, we will have the advantage of tenure and expertise in developed markets, as well as in emerging markets such as Brazil, China, Russia, Poland and India.”

In 2004, Hines began its first public, non-traded REIT, Hines Real Estate Investment Trust, Inc. The fund is now in its third offering period and has raised approximately $2.4 billion to date.

— Coleman Wood

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter
Conferences


Webinars on Demand


Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties