Hines Selloff Continues: Firm Plans To Unload $660M Dublin Mall
It doesn’t look like Hines REIT plans to halt liquidation anytime soon—the firm is leading a group of US investors in its plan to broker a $660M sale of a Dublin shopping mall.
Grosvenor Group and HSBC Alternative Investments are two of the interested parties looking to purchase the Liffey Valley Shopping Centre in the Republic of Ireland’s capital, Bloomberg reports. Grosvenor was one of the mall’s original developers while HSBC and Hines picked up a 73% stake in the property from Aviva Investors two years ago for about $300M.
Dublin is a hotspot for international investors right now. The Republic of Ireland is one of Europe’s fastest-growing economies and investors are eager to grab a piece of the action. [Bloomberg]