Hines REIT Pays $197M For Equity Residential Mass. Property

Law360, New York (April 4, 2013, 4:45 PM EDT) -- A real estate investment trust owned by global property investor Hines Interests LP has acquired an office complex in Newton, Mass., from Sam Zell's Equity Residential for $197.3 million, the REIT said in a regulatory filing Tuesday.

Hines Global REIT Inc. agreed to acquire the Riverside Center, a 510,000-square-foot commercial property in the Boston suburb of Newton, that is 97 percent leased, it said in a Securities and Exchange Commission filing.

Tenants at the property include the global headquarters of e-publishing company TechTarget Inc. and pharmaceutical...
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