HGR Liquidating Trust, the liquidating trust of non-traded real estate investment trust Hines Global REIT Inc., has declared a final special distribution to investors of approximately $0.03 per unit to unitholders of record as of Oct. 18, 2022.
Following payment of the final special distribution, they will have paid aggregate distributions totaling $15.14 per unit to holders who have been invested since the inception of Hines Global REIT, Inc.
HGR was launched in August 2009 and, at its peak, owned interests in 45 properties and other real estate-related investments internationally. From April 2014 through August 2018, Hines Global raised gross offering proceeds of approximately $3.1 billion.
HGR commenced the liquidation of its assets pursuant to a plan of liquidation and dissolution approved by its stockholders in July 2018. HGR transferred its remaining assets and liabilities to HGR Liquidating Trust on June 30, 2020, and HGR’s former stockholders were issued units of beneficial interest in the trust.
The company sold interests in 39 properties with an aggregate sale price of $5.4 billion from 2017 through 2021. The trust’s final property, Minneapolis Retail Center was sold in March 2022 for $150.0 million, excluding closing costs and prorations.