Hines Private Wealth Solutions has completed its ninth Delaware Statutory Trust offering, totaling approximately $591 million, the largest completed DST offering in the firm’s history.
The offering, known as HREX 9 DST, provides exposure to two multifamily properties totaling 946 residential units and more than 957,000 square feet of rentable space: Gables Station in Coral Gables, Florida, and Left Bank in Chicago.
The transaction builds on the growth of Hines Real Estate Exchange, which launched in 2022 and has now raised more than $1.9 billion from qualified investors.
Gables Station is a 495-unit apartment community in Coral Gables that Hines said benefits from durable rental demand and significant barriers to new development. The property’s amenities include an on-site Life Time fitness center, Trader Joe’s, three resort-style pools, and two restaurants. It is also located near downtown Miami, Coconut Grove, and the University of Miami.
Left Bank is a 451-unit apartment community in Chicago’s Fulton Market and West Loop area. The property offers access to the Chicago Riverwalk and is located near the Loop, CTA stations, and Metra transportation connections. Hines said low vacancy and limited new supply in the surrounding market support the property’s rental fundamentals.
The two properties were sourced from Hines Global Income Trust, a public non-listed real estate investment trust sponsored by Hines. Hines Global Income Trust had approximately $7.29 billion in gross asset value as of September 30, 2026, with a portfolio diversified by geography and property type.
HREX 9 DST was structured to allow qualified investors to complete like-kind property exchanges under Section 1031 of the Internal Revenue Code. Such transactions can provide investors with an opportunity to defer capital gains and certain other taxes while gaining fractional ownership exposure to institutional-scale real estate.
Hines said the offering reflects its continued conviction in the residential sector, particularly in markets where demand remains resilient while the pipeline of new multifamily supply has declined.
Hines manages approximately $91 billion in assets across residential, logistics, office, data centers, infrastructure, and other real asset strategies. The firm has approximately 4,600 employees across 29 countries and serves institutional and private wealth investors.
KEY QUOTE:
“Our conviction in living is grounded in what we believe to be durable demand and a sharply reduced pipeline of new supply in many U.S. markets. We believe HREX 9 DST brings that conviction to its investors at record scale, providing access to institutional-quality real estate and the potential benefits of income, diversification and tax efficiency.”
Alfonso Munk, Global Co-Head Of Investment Management At Hines
