Hines REIT Liquidation
November 15, 2016 | by Beth Glavosek | Blue Vault
As originally announced in June, Hines Real Estate Investment Trust has followed through on its liquidation plan.
The Houston Business Journal reported recently that Hines closed on a $1.16 billion sale of properties to New York-based Blackstone Group. Properties sold include assets in Los Angeles, other central and Northern California locations, and locations in Washington state.
The Houston Chronicle says Hines REIT’s president and CEO Sherri Schugart anticipates positive investor returns. “The vast majority of our investors will have experienced a positive return on their investment in Hines REIT given the cash distributions we have paid through the years combined with capital we expect to return to investors as a result of this liquidity event and capital we have returned in previous years,” she says.
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