Hines Sells Off Stakes In $1.5B Calif. Office Portfolio

Law360, New York (July 30, 2012, 7:06 PM EDT) -- Hines Interests LP announced Monday that it has sold its controlling interests in a massive Southern California office portfolio — which was underwritten by about $1.5 billion worth of loans, according to regulatory filings — to other equity partners in the venture.

Hines declined to disclose the financial details of the deal and the buyer, but filings with the U.S. Securities and Exchange Commission revealed that as late as March 2012, KBS Real Estate Investment Trust Inc. and an unnamed lender held preferred membership interests in...
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