Hines sells 101 Second Street to Invesco Real Estate
A subsidiary of the Hines US Core Office Fund has closed on the sale of 101 Second Street to Invesco Real Estate.
Financials on the deal have not been disclosed.
Hines was advised by CBRE on the transaction.
Ken Jett, managing director in Hines' Core Fund, says: "We have enjoyed being the owner and executing our investment strategy for this terrific property since 2004. Although we're very proud of the building and the performance we've been able to achieve for our investors at 101 Second Street, we have decided that this is a good time to sell the asset."
"101 Second Street is a strong addition to our national portfolio. The property's location, quality and leasing status are an ideal fit with our long-term investment approach," says Bill Grubbs, managing director of Invesco Real Estate.
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