Hines to Raise $3.5B in IPO

Following on the heals of the IPO which raised $800M for Starwood, Hines has announced its intentions to raise some $3.5B through a public offering. The company intends on using the proceeds to acquire both property and debt on both US and international property.

It will be interesting to see how the money will actually be used. To date some $15B or so in equity has been raised with the intention of chasing battered real estate, but a fairly decent portion of that equity has gone towards to shore up the balance sheets of REITs.

Regardless, new equity usually wipes out old equity, so it will be interesting to see how these REITs actually use these funds and the impact (aside from a bunch of new money sloshing around). Also, will it be possible for REITs to buy their own assets via a different fund?

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Comments

Shawn Thomas August 16, 2009

I have exclusive rights to sell acres of land throughout The Bahamas.
How can we work together?

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