Hines Launches $194 Million Rookwood Investment

The Rookwood retail property marks a strategic milestone in Hines’ real estate investment platform.

May 20, 2025

Hines completes DST offering backed by retail asset

Hines Global Income Trust has completed a $194 million Delaware Statutory Trust (DST) offering tied to Rookwood, a retail property it sourced and positioned within its growing income-producing portfolio. The announcement came on May 19, 2025, and reflects a deliberate step forward in Hines’ broader capital markets strategy.

This offering—HREX 5 DST—lets investors access fractional interests in a stabilized, professionally managed retail asset through a DST structure. It’s a format that appeals to investors looking for real estate exposure with potential 1031 exchange benefits. For Hines, it’s another way to open up institutional-quality real estate to a broader base of investors without compromising on oversight or operational control.

Rookwood fits into Hines’ long-term real estate strategy

Rookwood fits squarely within Hines’ approach to sourcing resilient, income-generating properties. The retail center is now held by the DST, with Hines Interests Limited Partnership acting as the sponsor and asset manager. While the 8-K filing and related press release don’t include new financial reporting or risk disclosures, they serve to keep stakeholders informed and aligned with ongoing developments.

How DSTs support Hines' capital deployment

DST offerings like HREX 5 give Hines flexibility in structuring deals and help bring capital in efficiently. These types of offerings also support long-term objectives around diversification and portfolio strength, while giving investors exposure to assets that are underwritten and managed at scale.

This move comes at a time when investor interest in retail real estate has started to pick back up. Hines is leaning into that trend, using vehicles like DSTs to channel capital into properties that meet today’s demand for location, foot traffic, and lease stability. As they continue building out their platform, offerings like Rookwood show how Hines is executing on its strategy—bringing institutional discipline to real assets in a structure that investors can plug into.

For those tracking how Hines operates in the private real estate space, this update signals continued momentum and a clear direction for how the firm is shaping its income-focused product suite.