Key Takeaways
- • Hines Private Wealth Solutions completed its ninth Delaware Statutory Trust offering, HREX 9 DST, totaling approximately $591 million, the largest completed DST offering in the firm's history.
- • HREX 9 DST provides exposure to two multifamily properties with 946 residential units and more than 957,000 square feet of rentable space: Gables Station in Coral Gables, Florida (495 units) and Left Bank in Chicago (451 units).
- • The properties were sourced from Hines Global Income Trust, a non-listed REIT with approximately $7.29 billion in gross asset value as of September 30, 2026.
- • The Hines Real Estate Exchange platform, launched in 2022, has now raised more than $1.9 billion from qualified investors.
Summary
Hines Private Wealth Solutions has completed its ninth Delaware Statutory Trust (DST) offering, known as HREX 9 DST, raising approximately $591 million. According to the firm's announcement reported by Pulse 2.0, it is the largest completed DST offering in Hines Private Wealth Solutions' history.
The offering provides fractional ownership in two multifamily properties totaling 946 residential units and more than 957,000 square feet of rentable space. Gables Station is a 495-unit apartment community in Coral Gables, Florida, which Hines says benefits from durable rental demand and significant barriers to new development. Its amenities include an on-site Life Time fitness center, Trader Joe's, three resort-style pools and two restaurants, and it sits near downtown Miami, Coconut Grove and the University of Miami. Left Bank is a 451-unit apartment community in Chicago's Fulton Market and West Loop area, with access to the Chicago Riverwalk and proximity to the Loop, CTA stations and Metra connections. Hines attributes the property's rental fundamentals to low vacancy and limited new supply in the surrounding market.
Both properties were sourced from Hines Global Income Trust, a public non-listed real estate investment trust sponsored by Hines, which had approximately $7.29 billion in gross asset value as of September 30, 2026, with a portfolio diversified by geography and property type.
HREX 9 DST is structured to allow qualified investors to complete like-kind exchanges under Section 1031 of the Internal Revenue Code, which can defer capital gains and certain other taxes while providing fractional exposure to institutional-scale real estate. The offering is part of the Hines Real Estate Exchange, launched in 2022, which has raised more than $1.9 billion from qualified investors to date.
Hines said the offering reflects its continued conviction in the residential sector. Alfonso Munk, Global Co-Head of Investment Management at Hines, said: "Our conviction in living is grounded in what we believe to be durable demand and a sharply reduced pipeline of new supply in many U.S. markets. We believe HREX 9 DST brings that conviction to its investors at record scale, providing access to institutional-quality real estate and the potential benefits of income, diversification and tax efficiency." Hines manages approximately $91 billion in assets across residential, logistics, office, data centers, infrastructure and other real asset strategies, with about 4,600 employees across 29 countries.
The offering provides fractional ownership in two multifamily properties totaling 946 residential units and more than 957,000 square feet of rentable space. Gables Station is a 495-unit apartment community in Coral Gables, Florida, which Hines says benefits from durable rental demand and significant barriers to new development. Its amenities include an on-site Life Time fitness center, Trader Joe's, three resort-style pools and two restaurants, and it sits near downtown Miami, Coconut Grove and the University of Miami. Left Bank is a 451-unit apartment community in Chicago's Fulton Market and West Loop area, with access to the Chicago Riverwalk and proximity to the Loop, CTA stations and Metra connections. Hines attributes the property's rental fundamentals to low vacancy and limited new supply in the surrounding market.
Both properties were sourced from Hines Global Income Trust, a public non-listed real estate investment trust sponsored by Hines, which had approximately $7.29 billion in gross asset value as of September 30, 2026, with a portfolio diversified by geography and property type.
HREX 9 DST is structured to allow qualified investors to complete like-kind exchanges under Section 1031 of the Internal Revenue Code, which can defer capital gains and certain other taxes while providing fractional exposure to institutional-scale real estate. The offering is part of the Hines Real Estate Exchange, launched in 2022, which has raised more than $1.9 billion from qualified investors to date.
Hines said the offering reflects its continued conviction in the residential sector. Alfonso Munk, Global Co-Head of Investment Management at Hines, said: "Our conviction in living is grounded in what we believe to be durable demand and a sharply reduced pipeline of new supply in many U.S. markets. We believe HREX 9 DST brings that conviction to its investors at record scale, providing access to institutional-quality real estate and the potential benefits of income, diversification and tax efficiency." Hines manages approximately $91 billion in assets across residential, logistics, office, data centers, infrastructure and other real asset strategies, with about 4,600 employees across 29 countries.
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