Hines Private Wealth Solutions Successfully Completes $194m DST

Deal News | May 20, 2025 | Hines Interests LP

Hines Private Wealth Solutions Successfully Completes $194m DST

Hines, a prominent global real estate investor, developer, and manager, has completed a $194 million Delaware Statutory Trust (DST) through its Hines Private Wealth Solutions. The DST, named HREX 5 DST, owns Rookwood, an open-air retail center in Cincinnati, Ohio, and has been tailored to meet the specific needs of investors looking to complete a 1031 exchange. Rookwood comprises two shopping centers - Rookwood Commons and Rookwood Pavilion - offering a broad mix of specialty grocery, fashion, and dining options. The asset was originally sourced by Hines Global Income Trust (HGIT), which as of April 30, 2025, manages a $4.6 billion portfolio with a diversification focus by geography and property types in dynamic sectors and markets. The HREX 5 DST provides a mechanism for qualified investors to defer capital gains taxes by executing a like-kind exchange under the Internal Revenue Code Section 1031.

Sectors

  • Finance and Real Estate
  • Retail

Geography

  • United States – The activity and location focus on Cincinnati, Ohio, and involve a legal financial structure (DST) well-established in the U.S. market.

Industry

  • Finance and Real Estate – The article discusses a financial product (DST) designed for real estate investment, utilizing tax-deferral strategies under the 1031 exchange rule.
  • Retail – The DST involves a retail estate, Rookwood shopping centers, indicating retail as an integral part of the business operations discussed.

Financials

  • 194,000,000 – The value of the Delaware Statutory Trust (DST) completed by Hines Private Wealth Solutions.
  • 4,600,000,000 – The portfolio size of Hines Global Income Trust as of April 30, 2025.

Participants

NameRoleTypeDescription
Hines Interests LPPE FirmCompanyA global real estate investor, developer, and manager responsible for overseeing the completion of the $194 million DST.
Hines Private Wealth SolutionsPE DivisionCompanyA division of Hines tasked with completing the Delaware Statutory Trust (DST).
RookwoodTarget CompanyCompanyAn open-air shopping destination in Cincinnati, Ohio, that is the focus of the $194 million DST.
Hines Global Income Trust (HGIT)Asset SourceCompanyThe company that initially sourced the Rookwood asset and manages a diversified $4.6 billion portfolio.