Hines U.S. Property Recovery Fund with a total target of $1 billion, secures $590 million at first closing and undertakes two initial acquisitions
Hines, the international real estate firm, today announced the launch of Hines U.S. Property Recovery Fund (“HUSPRF”), the first in the firm’s new flagship tactical fund series in the United States with approximately $590 million of equity committed, giving the fund nearly $1.5 billion in immediate investment capacity. In total, the fund is targeting a final equity raise of $1 billion – with purchasing power of $2.5 billion after leverage – by the anticipated last close in May 2022. In addition, investors have also allocated an incremental $150 million for co-investments alongside the fund.
You can now read the full press release at the link below