"The timing was right to make this strategic sale to provide a very satisfactory conclusion to a four-year capital investment for our fund investors," says Lyman Daniels, Director General for Hines Mexico. "Hines will remain very active in the Mexico market and is currently pursuing additional development activities."

Arguably the most notable of the assets is Torre del Angel in Mexico city, a 21-story, 336,000-square-foot (31,200-square-meter) office building located on the Paseo de la Reforma across from the Angel of Independence. After buying the property in 1997, Hines hired US architectural firm Robert A.M. Stern and Mexican Architect Eduardo Terrazas to renovate the property.

Parque Industrial Tenologico, an industrial park on 25 acres in Guadalajara includes more than 700,000 square feet of class A warehouse, manufacturing and distribution space housed in four buildings, was also sold. The complex is located on Avenue Itesoin the southwest corridor of the city.