Hines Fund Amasses Billions in Investment Capacity

HOUSTON – (Realty News Report) – Hines, the Houston-based real estate firm, announced that Hines U.S. Property Partners, the firm’s flagship commingled U.S. core plus fund, has closed on an additional $600 million of equity reaching aggregate equity commitments of $1.4 billion. The combined equity raised gives the fund over $2.3 billion in total investment capacity.

To date, HUSPP fund has six properties totaling $600 million in investments spanning all four major property types: industrial, multifamily, mixed-use, and office. The six acquisitions includes activity in Austin, where Hines has returned after a years-long absence.

Weighted Toward Industrial and Multifamily

In line with the Fund’s diversification objectives, the current portfolio is more than two-thirds weighted toward the industrial and multifamily sectors. The Fund team expects to deploy the remaining capital over the next 12 months.

Acquisitions Completed in Austin, Los Angeles, Seattle Minneapolis

“We are very excited by the momentum we have seen since the fund’s launch last July,” said Adriana de Alcantara, HUSPP fund manager at Hines. “These opportunities have demonstrated the strength of our highly local platform which enables us to acquire off-market deals in dynamic locations in Los Angeles, Seattle, Austin, and Minneapolis.”

HUSPP is an open-ended, diversified fund targeting next-generation assets in top-performing submarkets throughout the United States. The fund’s strategy is to “buy, build, and manage to core” through research-driven portfolio construction, smarter submarket and sector selection, vertically integrated value creation, and product designed for future demand.

Also Life Sciences and Self-Storage

HUSPP expects to continue to invest across the living, industrial, office and mixed-use sectors, as well as select alternative sectors, such as life sciences, self-storage, and others, to construct a diversified portfolio that targets a balance of yield and growth.

Twenty Institutional Investors Onboard 

HUSPP has secured a diverse investor base including 20 institutional investors comprised of U.S., European and Asian public and private pension plans, insurance companies, high net-worth individuals, banks, non-profit organizations, and family offices. As an open-ended fund, HUSPP is expected to continuously raise capital and will become a large scale, multi-billion-dollar institutional fund targeting core plus returns in the U.S. market.

With additional deals in exclusivity and more in the pipeline, the fund’s strategy will continue to emphasize Hines’ top-down proprietary research and leverage Hines’ on-the-ground execution platform to create and hold what Hines views as the core assets of the future. The fund will seek to maximize value at the asset-level through active management and undertake select development to create next-generation assets catering to future tenant demand.

Hines is a privately owned global real estate investment firm founded in Houston in 1957 by Mr. Gerald D. Hines.

In Houston, Hines has developed The Galleria, the First Colony master planned community and the 75-story JP Morgan Chase Tower, which is the tallest office tower in Texas.

Hines also recently completed downtown Houston’s newest building – the 47-story Texas Tower, which was built on the site of the former Houston Chronicle.

Currently, Hines with a presence in 255 cities in 27 countries and it has 171 developments underway around the world.

Hines oversees management of $83.6 billion in investment assets.

Feb. 18, 2022 Realty News Report Copyright 2022.

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Image: The 75-story JPMorgan Chase in downtown Houston.  Ralph Bivins, Realty News Report Copyright 2022

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