Hines Global REIT II Buys Nevada Multifamily Property for $58.2 Million

February 9, 2016

Feb 05 2016 | Article by: The DI Wire

Hines Global REIT II Inc., a publicly registered non-traded real estate investment trust, finalized the purchase of the Domain Apartments in Henderson, Nevada for $58.2 million, exclusive of transaction costs. The seller was LV Eastern LLC.

Domain Apartments was constructed in 2014 and consists of 308 units with an average unit size of 1,075 square feet. The community features amenities including a fitness center, swimming pool, movie theater, electric vehicle charging stations and bicycle rentals. The property is currently 95 percent leased, with an average effective monthly rental rate of $1,252 per unit.

Full Article Located Here

Go Back
Gregory De Jong, CFP, Co-Founder of Paragon Advisors, LLC.
July 7, 2015

Blue Vault is just what advisors need to size up the different offerings in the nontraded REIT market. Just as importantly, it’s what the industry needs to encourage best practices among REITs.