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National  + Maryland  + Washington DC  + Apartments  | 

Hines REIT Buys, Rebrands Apartments Near U. of Maryland

Hines Global Income Trust acquired Alloy by Alta, a new 275‐unit multifamily asset located adjacent to the University of Maryland in College Park, for an undisclosed sum. Rebranded The Alloy, the seven-story asset will increase Hines Global’s living sector investments to over $430 million globally.

After delivering in the first quarter of 2019, The Alloy leased at an average rate of more than 40 units per month and is currently 97.5% leased. Its tenant base is predominantly, although not exclusively, comprised of students.

“Hines has developed an impressive residential and student housing track record, and knows how to successfully maintain occupancy and grow rents through proactive leasing and property management,” said Chuck Watters, senior managing director at Hines.

Along with being located less than a mile from the University of Maryland, The Alloy is also convenient to many of the area’s top employers, says Hines.

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Inside The Story

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types as well as delving into broader subject matter. He produces 15-20 daily news stories per day and also works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.

  • ◦Sale/Acquisition
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