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Hines successfully raised $152 million through an offering of interests in the HGIT 200 Park Place DST, a Delaware Statutory Trust. This trust owns 200 Park Place, a premier office building located in Houston’s River Oaks district.

Inaugurated in 2020, the property spans over 206,943 square feet and is fully leased to a diverse group of tenants. The anchor tenants include JLL and Buckeye Partners. Hines Global Income Trust Inc., with its diversified portfolio worth $3.9 billion across different regions and property types, sourced this asset.

The HGIT 200 Park Place DST provided qualified investors with an opportunity to complete like-kind exchanges under Internal Revenue Code Section 1031. This offering was designed as an attractive solution for deferring capital gains taxes while also diversifying real estate holdings through ownership of a high-quality institutional asset.

This news was originally published on Connect CRE website.