Hines Private Wealth Solutions Successfully Completes $194M DST

Hines – the global real estate investor, developer and manager – announced that Hines Private Wealth Solutions LLC has successfully completed another Delaware statutory trust with HREX 5, DST. The DST, which owns Rookwood, an open-air shopping destination in Cincinnati, Ohio, was specifically designed to meet investors’ 1031 exchange needs.

The offering, which launched nearly a year ago, originally sought to raise approximately $201.1 million from accredited investors.

Rookwood consists of two adjacent shopping centers, Rookwood Commons and Rookwood Pavilion, and features an expansive tenant mix of specialty grocery, fashion, and dining options. The asset was sourced by Hines Global Income Trust Inc., or HGIT – a publicly registered non-traded real estate investment trust sponsored by Hines – which the company said had a $4.58 billion portfolio as of April 30, 2025, and is diversified by geography and property type with a focus on dynamic sectors and markets.

“We have high conviction in the retail sector, and with Rookwood’s strong historical performance, prime location and attractive retailer mix, investors clearly shared our confidence,” said Alfonso Munk, president of HGIT and co-head of investment management at Hines. “We were pleased to help investors achieve their 1031 exchange goals with this offering.”

HREX 5 DST allowed qualified investors to complete a like-kind exchange of property under Internal Revenue Code Section 1031. According to the company, the offering presented a 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.

Earlier this spring, HGIT announced its $70.8 million acquisition of Junction 27, a large format retail park in Birstall, England, near the city of Leeds. This acquisition expanded HGIT’s presence in a high-performing trade area and further diversifies its $4.5 billion portfolio.

The REIT also finalized a $1.35 billion credit facility with JPMorgan Chase Bank N.A. in March. The agreement provided the REIT with significant financial flexibility through a combination of a $650 million revolving credit facility and a $700 million term loan.

As of Dec. 31, 2024, Hines owned and operated more than $90 billion of assets across property types and on behalf of a diverse group of institutional and private wealth clients.

Click here to visit the AltsWire directory page.