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Transactions - JANUARY 20, 2021

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Hines Global REIT sells San Antonio retail center for $220m

by Andrea Zander

Hines Global REIT San Antonio Retail I, a subsidiary of HGR Liquidating Trust, has entered into an agreement of sale and purchase with Big V Acquisitions, to sell The Rim. The sales price was $219.7 million.

The Rim is a retail center located in San Antonio. The purchaser is not affiliated with HGR Liquidating Trust or its affiliates, according to the SEC Filing.

The Rim is a 1.8 million-square-foot, outdoor retail center located at Interstate 10 and Highway 1604 in northwest San Antonio. It is reported to be the largest outdoor retail center in the state.

Hines acquired the asset in 2014 from the developer Thomas Land & Development. At the time, The Rim was the fourth retail asset acquired by Hines Global REIT and the largest.

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