Hines U.S. Property Partners (HUSPP), a commingled fund focused on core-plus investments in the United States, has recently acquired an industrial property in Houston as part of a larger portfolio acquisition. The property, known as Boulevard Oaks, was purchased for $454 million along with two other assets.
With this acquisition, HUSPP’s Gross Asset Value has reached $2 billion and over 80% of its assets are now allocated to the industrial, residential and alternative sectors.
Boulevard Oaks is a Class-A infill industrial portfolio spanning 1.5 million square feet across ten buildings with ample parking for both cars and trailers. Its convenient location near Beltway 8 and Hwy 59 makes it easily accessible for tenants. This marks HUSPP’s twelfth investment in the industrial sector and second investment in Houston overall – providing an opportunity to expand into a highly desirable submarket.
Moving forward, HUSPP plans to continue investing in various sectors such as residential living spaces, mixed-use developments,and select alternatives like data centers or self-storage facilities – creating a diverse portfolio that balances yield potential with growth opportunities.
