Real estate investment firm Hines has raised $750 million for a fund targeting next-gen assets in top-performing markets across the US.
The capital raise includes a $100 million investment from Hines and injects the open-ended fund with $1.2 billion in immediate investment capacity, Hines said in a statement announcing the close. Known as Hines US Property Partners, or HUSPP, the fund expects to invest across multifamily, industrial, office, and mixed-use sectors as well as niche sectors like the burgeoning life sciences and self-storage asset classes.
"As real estate continues its transformation into a service, we believe investors are finding increased value to work directly with large scale operators who can bring innovation, flexibility and simplicity for the ultimate customers which are our tenants," said David Steinbach, Global CIO at Hines in a statement.
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