Hines Global Income Trust Sells Nevada Multifamily Property for $80 Million
Hines Global Income Trust, Inc., a publicly registered non-traded non-traded real estate investment trust, has sold the Domain Apartments located in Henderson, Nevada for $80.1 million, excluding closing costs.
Hines Global Income Trust, Inc., a publicly registered non-traded real estate investment trust, has sold the Domain Apartments located in Henderson, Nevada for $80.1 million, excluding closing costs.
The REIT originally purchased the multifamily property in January 2016 for $58.1 million.
Domain Apartments was constructed in 2014 and consists of 308 units with an average unit size of 1,075 square feet. Amenities include a fitness center, swimming pool, movie theater, electric vehicle charging stations and bicycle rentals. The property is currently 96 percent leased.
In other news, earlier this week, Hines Global Income Trust purchased the Emerson, a newly constructed 355‐unit Class A multifamily property located in Centreville, Virginia near Washington, D.C. for $117 million.
Hines Global Income Trust, which invests in commercial real estate properties and other real estate investments throughout the United States and internationally, launched its initial public offering in August 2014 and its second offering in December 2017. As of November 13, 2019, Hines Global Income Trust raised $842.3 million through its public offerings, including shares issued through its distribution reinvestment plan. As of the third quarter of 2019, the REIT owned direct real estate investments in 15 properties totaling 8.5 million square feet that were 96 percent leased.
