Hines Global Income Trust Sells Property for $80.1 Million
January 29, 2020 | Margaret Armour | Blue Vault
A wholly-owned subsidiary of Hines Global Income Trust (“the Company”) sold the Domain Apartments, a multi-family property in Henderson, Nevada, for $80.1 million on January 7, 2020. The community, made up of 308 units that are 96% leased, was purchased by Domain Grand Avenue Partners, LLC, which is not affiliated with the Company nor its affiliates. The property was originally purchased by the Company in 2016 for $58.1 million.
About Hines Global Income Trust
The Company owns direct real estate investments in 19 properties estimating 8.8 million square feet, with 96% leased. The portfolio consists largely of industrial properties and apartment communities, but also includes some office and retail space. Properties are located in the US, United Kingdom, Ireland, Germany, Poland, and the Netherlands. The Company raises capital for its investments through public offerings of its common stock. As of November 13, 2019, the REIT had received gross proceeds of approximately $842.3 million in shares of common stock through its current offering.
About Hines
Hines Interests Limited Partnership (“Hines”) is a fully integrated global real estate investment and management firm. Hines has been investing in real estate and providing acquisition, development, financing, property management, leasing and disposition services for over 60 years. Hines provides investment management services to numerous investors and partners including pension plans, domestic and foreign institutional investors, high net worth individuals and retail investors. For more information, visit www.hines.com.
Sources: SEC, Hines, Blue Vault
