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At A Glance

REIT Name: Hines Real Estate Investment Trust
IPO Date: June 2004
Total Equity Raised: $2.5 billion
Property Focus: Office
Total Properties: ---Self-
Managed: No
Advisor: Hines Advisors L.P.
Share Redemption Plan: Suspended
Website: www .HinesREI.com

Summary

Hines Real Estate Investment Trust. IPO raised $528 million from July 2004 through June 2006. Second public offering raised approximately $1.5 billion prior to its expiration on June 30, 2008. Third public offering raised $471 million prior to closing at the end of 2009. As of June 30, owns interests in 16 office properties located throughout the U.S., and a portfolio of 8 grocery-anchored shopping centers located in four states. Twenty properties are wholly-owned while the other 4 are owned through joint ventures. These properties contain approximately 10.5 . million square feet that was 89% leased as of June 30. Portfolio was 33% leveraged at end of June. FPO per share for the second quarter was $0.059, down 11 % from $0.066 for the same period last year. Dividends-to-FPO ratio for the second quarter was 115%. MFFO per share for the second quarter was $0.056, down 9% from $0.062 for the same period last year. Dividends-toMFPO ratio for the second quarter was 120%. Sold two properties in first half of 2016 for $147 million. In August the company sold seven retail properties for $158 million and an office building for $273 million. Additional properties are under contract for sale as management has determined to liquidate the company. The company intends to solicit shareholder approval for a plan of liquidity in very near future. Total liquidating cash distributions to shareholders have been estimated at $6.35 to $6.65 per share. Dividend reinvestment and share redemption programs have been suspended. Company will no longer pay regular cash distributions.


Data referenced from the Direct Investments Spectrum
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