HOUSTON-Hines closed its latest fund totaling $210 million. Dubbed the Hines U.S. Office Value Added Venture III fund, it has, according to the company, more than $600 million in total leveraged capacity in the office sector. The fund enables Hines to create value through leasing, management or redevelopment activities.

“We see an increasing pipeline of opportunities where both capital and diverse operating expertise are needed to realize the full potential in an office property,” commented Dave Congdon, senior managing director and the fund’s director. “Stabilizing or improving fundamentals across many markets make this an appropriate time to capitalize on leasing-related events that create higher, more stable income profiles.”

Hines worked with an institutional investor on the deal, who was not disclosed at press time. This is the third Hines fund with a strategy to invest in value-added opportunities, and all three invested $1.1 billion of equity capital into 18 different assets.