Report: Hines Global REIT Hires Lazard to Explore Strategic Alternatives

Hines Global REIT, a publicly registered non-traded real estate investment trust, has hired Lazard Ltd. to advise on the sale of its 43-property portfolio, according to a report by Bloomberg News.

According to the report, a source indicated that Hines is selling a London office building as part of a $5.5 billion property portfolio disposal. 25 Cabot Square, the property in question, was purchased by Hines Global REIT in March 2014 for $371.7 million.

25 Cabot Square is a 17-story, 452,900-square-foot class A building located in the Canary Warf district.

In March, Hines Global REIT disclosed that they were evaluating various strategic alternatives, although there is no set timetable for such an event.

Hines Global REIT, which commenced its initial public offering in August 2009, raised $2.9 billion in investor equity in its two public offerings, the last of which closed in April 2014. The company’s $5.3 billion portfolio totals 16.9 million square feet and is comprised 43 properties located in the United States and abroad.