Nov
15
Hines REIT Wraps Up $1.2B Office Sale to Blackstone
ByWith the sale of the 3 million-square-foot portfolio, the trust’s liquidation process is nearing its end.
Howard Hughes Center, Los Angeles
Los Angeles—Hines REIT takes a big step forward in its dissolution and liquidation plan with the closing of the sale of a 3 million-square-foot office portfolio to an affiliate of Blackstone, just months after announcing the deal. The group of seven West Coast properties fetched nearly $1.2 billion.
In a prepared statement, Sherri Schugart, president & CEO of Hines REIT, said the sale “was a significant and positive transaction and a result of our focus on maximizing the assets’ appeal to the institutional market.”…
