$5.5B Sale: Hines Offers Real Estate Portfolio To The Highest Bidder
An office building in London’s Canary Wharf is up for sale by Hines as part of a $5.5B property dump.
Hines manages over $89B in property, 62% of which is in the US. The Houston-based firm has tapped Lazard to advise on the sale of properties by the privately-held Hines Global REIT, which owns all or part of 43 properties, Bloomberg reports.
Hines Global REIT said it’s evaluating a sale of assets, a sale or merger, listing shares on a national securities exchange or some similar transaction in its March 28 SEC filing—but the firm hasn’t released any set timetable for the potential selloff. [Bloomberg]