Hines is one of the never ending REITs. While the program was initially offered in June of 2004, they have still not moved toward a liquidation date. Those wishing to sell may wish to call us at 602-721-4730 or email us at TheREITAdvisor@gmail.com for an up-to-date offer. We usually have buyers in the $3.50 to $3.65 range.
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Hines owners must be very careful! While Hines has not been tendered recently, several new tenders for Hines may be announced very soon. These could be low-ball offers at around $2.75 per share but certainly below the $3.25 mark. DO NOT SELL AT THESE PRICES.
I believe the fair tender value should exceed $3.50 per unit. I suspect Hines will recommend that you do not sell Ttender prices. If you want liquidity, I can usually buy above $3.50 a share. Why would anyone sell at below $3.25 per share when we are paying more than $3.50 a share? Simply because, they are not informed. Contact me at 602-721-4730 or email me at TheREITAdvisor@gmail.com.
I am Lawrence M. Cohen, The REIT Advisor, and my free web sites are available for your use. I offer a service for those current owners who wish to sell their positions. We will almost always offer more than the lowball, tender bandits.
If you wish to sell your Hines position now, please contact me. I charge no commission or any fees. Currently we are paying above $3.50 per unit. These pending tenders may bring forth a lot of sellers and prices could drop sharply.
Tenders for non-traded REITs are almost always presented at prices below market. The REIT management typically recommends that you reject the tender offers. You must read the Securities Exchange Commission’s warning on mini-tenders www.sec.gov/investor/pubs/minitend.htm. Because there is no easy way to sell your position, investors may not be aware of other opportunities to liquidate their units. We usually will be able to find a buyer willing to offer more than the tender price. During the fourth quarter of 2013, there were tender offers for Corporate Property Associates at $9.00 and $9.25. At the same time, we were offering $10.25. Call or e-mail us for a quote on your positions.
While there are many lowball tenders, the highest priced tenders are posted on www.REITCOLLC.com. This is an affiliate of ours and strives to offer fairly priced liquidity to investors.