Hines, a global real estate investor, developer and manager, has announced that Hines Private Wealth Solutions has successfully completed another Delaware Statutory Trust (DST) with HREX 5 DST. The $194 million DST, which owns Rookwood, an open-air shopping destination in Cincinnati, Ohio, was specifically designed to meet investors’ 1031 exchange needs.
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 (HGIT), which has a $4.6 billion portfolio as of April 30, 2025, and is diversified by geography and property type with a focus on dynamic sectors and markets.
HREX 5 DST, a subsidiary of HGIT, allowed qualified investors to complete a like-kind exchange of property under Internal Revenue Code Section 1031. The offering presented a solution to aid in the deferment of capital gains and other
