Houston-based Hines, through its Hines Global Income Trust (HGIT) REIT, has acquired for Gables Station, a 1.2 million-square-foot, mixed-use development that opened last year in Coral Gables.
The $430 million purchase price for the building—which is branded a Life Time Living facility—makes it one of the priciest multifamily trades of the year in South Florida, second only to Harbor International’s $450M purchase of two Parkline Miami apartment towers in March.
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