Hines adds $600m for open-ended core-plus fund

Hines U.S. Property Partners (HUSPP), Hines’ flagship commingled U.S. core-plus fund, has closed on an additional $600 million of equity, bringing the fund’s aggregate commitments to $1.4 billion. This latest capital influx gives the fund more than $2.3 billion of total investment capacity.

The open-ended fund secured commitments from a diverse investor base consisting of 20 institutional investors from the United States, Europe and Asia. These included public and private pension plans, insurance companies, high net-worth individuals, banks, nonprofit organizations, and family offices.

HUSPP will target next-generation assets in top-performing submarkets throughout the United States. The fund’s strategy is to “buy, build and manage to core.” HUSPP expects to continue to invest across the living, industrial, office and mixed-use sectors, as well as select alternative sectors, such as life sciences, self-storage and others.

Hines said it aims to make HUS