Hines Securities has completed another Delaware statutory trust (DST) with HREX Multifamily I DST.
The DST owns EMME, a high-quality apartment asset featuring resort-style amenities and immediate proximity to the diverse offerings of Chicago’s West Loop submarket.
EMME is a vibrant 14-story, 199-unit class A multifamily development that was 96 percent leased as of Sept. 30, 2023. The asset was sourced by Hines Global Income Trust (HGIT), which has a $4.1 billion portfolio as of Jan. 31, 2024, diversified by geography and property type with a focus on dynamic sectors and markets. HREX Multifamily I DST is a subsidiary of HGIT.
“Since launching Hines Global Income Trust almost 10 years ago, a companion 1031 exchange offering has been of growing interest from financial professionals and their clients,” said Alfonso Munk, CIO – Americas for Hines. “We couldn’t be more pleased to help investors achieve their 1031 goals, as evidenced by the overwhelming re
