Hines Raises $625M for CRE Investment Fund

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Hines CEO Jeffrey Hines (Twitter/Hines)

Houston-based real estate investment firm Hines has raised $625 million for a new CRE investment fund, with no signs of slowing.

Hines U.S. Property Partners fund is projected to hit $1 billion by the end of September, Bloomberg News reported, with a goal of adding a further $1 billion annually.

Including a $100 million initial investment from Hines, the fund will focus primarily on snapping up multifamily and industrial properties, as well as life sciences, self-storage, data center and student and senior housing properties. It is looking to supplement equity bets with leverage of around 40 percent to produce annual returns of between 9 and 11 percent, according to Bloomberg.

Hines U.S. Property Partners is expected to purchase a $100 million-plus multifamily property in Austin as its first buy with the new capital.

The new fund is backed by insurance companies, public pensions, non-profits and family…

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