November 15, 2016 Comments Off on Hines Divests Wells Fargo Center for $176M Views: 550 Bay Area, California, California News, West

Hines Divests Wells Fargo Center for $176M

Houston-based Hines Real Estate Investment Trust Inc. divested Wells Fargo Center in Sacramento, CA to an undisclosed buyer for $175.6 million. The 30-story office building is the tallest in the market, and will continue to be managed by Hines.

The more than 500,000-square-foot asset was acquired by Hines in 2007 on behalf of its Core Fund from New York-based Blackstone Group LP, as part of a $760 million portfolio acquisition.

Built in 1992, the property is located at 400 Capitol Mall, near the just-opened Golden 1 Center in Sacramento’s Central Business District.

Eastdil Secured handled the transaction on behalf of Hines.

Wells Fargo Center

Wells Fargo Center

Read more at Sacramento Bee

Connect With Hines Real Estate Investment Trust Inc.

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For comments, questions or concerns, please contact Dennis Kaiser

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