More on ING's buildings sale

Hines buys three buildings in Minneapolis

Excerpt:

Hines, a closely held real estate investor, and the California Public Employees' Retirement System bought three office buildings with almost 1 million square feet of space in downtown Minneapolis.

Hines and Calpers, the largest U.S. public pension fund, purchased the buildings and a seven-level parking garage from ING North America Insurance Corp., Houston-based Hines said in an e-mailed statement. The purchase price wasn't disclosed.
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Hines and Calpers purchased the properties through their National Office Partners Limited Partnership joint venture, which was formed in 1998.The acquisition includes 100 Washington Ave., a 22-story office building that is 82 percent leased. Tenants include ING and Wells Fargo Bank N.A. The other office buildings in the sale are 20 Washington Ave. and 111 Washington Ave. The parking garage that was bought is at 25 N. First St., which has 1,066 spaces.

Comment: Kathee's first thought: I hope they don't raise our parking rates!

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