Hines Securities tops USD5bn in capital raise
Hines Securities has surpassed USD5 billion in total capital raised since its inception.
This relates to capital raised across several investment products: Hines Real Estate Investment Trust, which is closed to new investment; Hines Global REIT, which closed to new investors on 11 April 2014; HMS Income Fund; and several real estate private placements.
"We're excited as a company to reach this milestone, for which we owe thanks to our broker-dealer partners and their thousands of independent financial advisors who have recommended our products to their clients," says Mark Earley, president of Hines Securities, a Houston-based affiliate of Hines, the privately owned global real estate investment firm.
Hines Securities raised a firm record of more than USD909 million across all products it offered in 2013.
Hines Securities began operating as a dealer manager in 2003 to distribute Hines REIT, a non-traded real estate investment trust, which raised approximately USD2.7 billion for a portfolio of primarily Class A US office assets. It followed the completion of that offering with Hines Global REIT, which raised USD2.7 billion for a diverse portfolio of high-quality assets in the US and six foreign countries, and several smaller private placement offerings.
In 2012 the firm introduced its first non-real estate investment product, HMS Income Fund, a non-traded business development company, and it anticipates launching one or more additional real estate investment products in the coming months.
Frank Apollo, chief operating officer for Hines Securities, says: "Our goal is to consistently remain where we've been – in the top handful of firms recognised by our broker-dealer partners for product quality, service, and capital raise. In fact, we've been collaborating with many of them over the past year about new product structures that address both their investors' needs for income and growth and changes that are anticipated in the regulatory environment.
"While these products have historically been referred to as alternatives, we see them as specialised investments that are more mainstream now, not just alternatives for investors seeking diversification and yield."
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