Source: Houston Business Journal
Hines Real Estate Investment Trust Inc. has announced they have received regulatory approval for a $3 billion stock offering, as reported in the Houston Business Journal. This third offering of Hines REIT consists of $3 billion in shares of common stock initially priced at $10.66 per share.
Source: Businesswire.com
In press release, Hines announced they intend to use the proceeds from this offering to invest in institutional-quality office properties located throughout the United States. The current portfolio of Hines REIT is concentrated in office investments, with 43 of the 46 properties being office properties located in the U.S. Other investments include an industrial property located in Rio de Janeiro, Brazil, and one mixed-use office and retail property located in Toronto, Ontario.
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