UNLOCK THE POWER OF THE VAULT

Hines REIT Shareholders Approve Liquidation Plan

November 8, 2016

Hines REIT Shareholders Approve Liquidation Plan

November 8, 2016 | by DI Wire

Shareholders of Hines Real Estate Investment Trust, Inc., a publicly registered non-traded real estate investment trust, approved the liquidation and dissolution of the company, according to a filing with the Securities and Exchange Commission. The REIT’s board of directors unanimously approved the plan at the end of June.

The liquidation plan includes Hines REIT entering into a definitive agreement to sell seven West Coast office assets in a cash transaction for approximately $1.2 billion to an affiliate of Blackstone Real Estate Partners VIII. The company previously noted that the plan takes advantage of the current strong demand for high-quality assets by institutional buyers.

Hines REIT estimates that the net proceeds of approximately $6.35 to $6.65 per share of common stock will be distributed to shareholders on or before December 31st. The company previously distributed $1.01 per share from July 2011 through April 2013 which was designated as partial return of invested capital.

Read Full Article Located Here


logo_hines

Learn more about Hines on our Sponsor Focus page.

Click Here

Go Back
Second Annual Blue Vault Broker Dealer Educational Summit 2016
Broker Dealer Educational Summit 2016
April 14, 2016

The Blue Vault Summit could not have been more perfectly timed. This gathering of the Broker Dealer and Sponsor communities provided insightful and open discussion from several vantage points. These conversations are paramount, especially in a time of significant regulatory change.