Hines Global REIT II Inc., a publicly registered non-traded real estate investment trust, terminated its purchase agreement to acquire Domain Apartments, a multifamily community located in Henderson, Nevada.
The DI Wire reported the signing of the Domain Apartments purchase agreement back in July, where the disclosed contract purchase price was approximately $59.5 million. The company paid a $1.5 million earnest money deposit, which was refunded.
The company failed to respond to an inquiry seeking explanation for the cancellation.
Hines is a privately owned global real estate investment firm founded in 1957 with locations in 185 cities in 19 countries. With $84.9 billion of assets under management, including $42.7 billion for which they provide fiduciary investment management services, and $42.2 billion for which they provide third-party property-level services.