A press release describing the launch said shares of the REIT will be available through broker dealers and financial advisors nationwide. The goal of the REIT is to acquire a quality real estate portfolio of diversified product at historically low prices. The investments could offer value-add potential as well. The overall goal of the REIT is to generate an appropriate return for investors during an eight-to-10 year hold of the real estate product.

"In this challenging market, we see many opportunities on the horizon. We plan to make strategic acquisitions and dispositions, and will be seeking out undervalued assets as well as aggressively pursuing opportunities in markets around the world, which may offer additional diversification as well as attractive risk-adjusted returns," said Hines Global REIT president Charles Hazen in the press release.

"With Hines as our sponsor, we will have the advantage of tenure and expertise in developed markets, as well as in emerging markets such as Brazil, China, Russia, Poland and India," he added. Hazen and other Hines representatives were not available for comment by deadline.