Hines-Run DST Closes on $152M Houston Offering

Hines completed a $152 million offering of interests in HGIT 200 Park Place DST, a Delaware Statutory Trust (“DST”). The DST owns 200 Park Place, an office building in the River Oaks district of Houston, Texas. 

Completed in 2020, the 206,943 square-foot property at 400 Westheimer Road is 100% leased to a diverse tenant roster and anchored by JLL and Buckeye Partners. The asset was sourced by Hines Global Income Trust, Inc. (HGIT), which has a $3.9 billion portfolio diversified by geography and property type, focusing on dynamic sectors and markets.

The HGIT 200 Park Place DST allowed qualified investors to complete a like-kind exchange of property under Internal Revenue Code Section 1031. The offering presented a compelling solution to aid in the deferment of capital gains and other taxes while providing the opportunity to diversify real estate holdings through the ownership of an institutional-quality asset.