Hines Launches $1 Billion Fund for Undervalued U.S. Properties
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The real estate investment firm Hines is raising its first fund to buy and renovate struggling or undervalued properties across the U.S.
The fund aims to raise $1 billion in equity, which would give it purchasing power of $2.5 billion, including debt, according to a statement Monday. So far, it has commitments totaling $590 million and has made two acquisitions.