(HOUSTON) – Hines, the international real estate firm, announced today the sale of its ownership interest in HSC Partners (owners of the portfolio previously known as the Cabi/Arden portfolio) to its existing equity partners.
The portfolio includes approximately 4.5 million square feet of office space in a total of 59 buildings across Southern California, from Ventura to San Diego counties.
Financials on the sale, which occurred upon mutually agreeable terms between the buyer and seller, were not disclosed.
The buyer has retained Hines to manage the properties under a long-term management agreement.
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,192 properties representing more than 482 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments.
With offices in 110 cities in 18 countries, and controlled assets valued at approximately $22.9 billion, Hines is one of the largest real estate organizations in the world.