HREX 9, DST 2026: Is It Legit? Form D Raise, Investors, Who Is Behind It

Q: What is HREX 9, DST?

HREX 9, DST is a Delaware entity organized in 2025 that filed a Form D with the SEC on October 15, 2026 in the Other Real Estate industry group. The filing claims Rule 506(b) for an offering of equity.

Q: Is HREX 9, DST legit?

AltStreet does not rate legitimacy; it reports the public record. HREX 9, DST filed a Form D with the SEC on October 15, 2026 claiming Rule 506(b). A Form D is a notice of an exempt offering, not a review or approval of it. The newest notice reports $590,648,975 sold to 550 investors. AltStreet's enforcement record (SEC, FINRA and state actions) shows no action naming the issuer as of today. Before investing, confirm the filing on EDGAR, check the seller's registration on FINRA BrokerCheck, and read the offering documents, which a Form D does not include.

Q: Is HREX 9, DST registered with or approved by the SEC?

No. A Form D is a notice that an issuer is selling securities under an exemption from registration, and the SEC does not review, approve, or pass on the merits of the offering. The filing shows that HREX 9, DST claimed Rule 506(b) and disclosed the items the form requires, such as the amount sold, the minimum investment, related persons, and anyone paid to sell the securities. It does not verify the issuer's claims or its business.

Q: How much has HREX 9, DST raised?

HREX 9, DST reported $590,648,975 sold from 550 investors of a $590,648,975 total offering as of the Form D filed October 15, 2026.

Q: Who can invest in HREX 9, DST?

The offering relies on Rule 506(b), which permits sales to accredited investors and to no more than 35 non-accredited investors who meet a sophistication standard, and prohibits general solicitation. The filing reports no non-accredited investors. The minimum investment accepted from an outside investor is $250,000.

Q: What is the minimum investment in HREX 9, DST?

The Form D lists $250,000 as the minimum investment accepted from any outside investor as of October 15, 2026. Issuers can waive their own minimums, and the figure does not include fees.

Q: Who is selling HREX 9, DST and how are they paid?

The Form D names Hines Private Wealth Solutions LLC (CRD 128145), associated with None; Hightower Securities, LLC (CRD 116681), associated with None; Cabin Securities, Inc. (CRD 137608), associated with None; Concorde Investment Services, LLC (CRD 151604), associated with None and 30 others as recipients of sales compensation soliciting in all states. Sales commissions are reported as $30,919,868 and finders' fees as $0. Form D allows these to be estimates. The issuer reports $13,913,941 of gross proceeds used or proposed to be used for payments to related persons.

Q: Who is behind HREX 9, DST?

The Form D lists 4 related persons: Hines Real Estate Exchange, LLC, executive officer (Sponsor of the Issuer); HREX 9 Depositor, LLC, executive officer (Depositor of the Issuer); HREX 9 DST Manager, LLC, executive officer (Administrative Trustee of the Issuer); Jeffrey C. Hines, executive officer (Chairman and Co-Chief Executive Officer). Form D Item 3 requires executive officers, directors, and promoters of the issuer to be listed.

Q: Where is HREX 9, DST located?

The issuer's address on its SEC filings is 845 Texas Avenue, Suite 3300, Houston, TX 77002. Its phone number of record is 888-220-6121. It is organized under the laws of Delaware.

Q: How long is the HREX 9, DST offering open?

The issuer indicated that the offering is not intended to last more than one year. An issuer must amend its Form D annually while a continuing offering stays open; 1 amendment is on record for this CIK.

AltStreetEDGAR DatabaseHREX 9, DST
SEC filing record
Primary Source · SEC.gov
HREX 9, DSTFund Vehicle2025 vintageRegulation D Rule 506(b); $250,000 minimum investment
Latest signalFirst saleForm D/A · 2026-10-156 events: 1 first sale, 1 sold increased, 1 investors increasedLast filing 2026-10-15
Raised
$591M
Investors
550
Min Invest
$250,000
AltStreet Analysis
·Generated from EDGAR primary sources
Filed a Form D on December 15, 2025 for a $618,397,358 offering with no sales; first sale December 17, 2025. The Form D/A of October 15, 2026 reports $590,648,975 sold to 550 investors and $0 remaining, with the offering amount reset to the amount sold, as every earlier HREX trust's closing notice did. Item 15 estimates $30,919,868 of sales commissions and Item 16 $13,913,941 of proceeds to related persons (dealer manager fees and organization and offering expenses), unchanged from the December notice. The largest of nine identified HREX offerings on EDGAR, 2.4 times HREX 6.
Delaware statutory trust in the Hines Real Estate Exchange program (fractional beneficial interests in real estate, commonly used for Section 1031 exchanges); principal place of business in Texas. Related persons: Hines Real Estate Exchange, LLC, HREX 9 Depositor, LLC, HREX 9 DST Manager, LLC and Jeffrey Hines. The eight earlier HREX trusts on EDGAR (HREX 5 to 8, HREX BMS, HREX Multifamily I to III) reported $1,164,509,854 sold across their latest notices (investor counts are per offering and may overlap).
EDGAR Filing Data
Form D — Primary Source
View on SEC.gov 
CIK Number0002100016
Entity NameHREX 9, DST
ExemptionRule 506(b)
What the exemption meansRule 506(b) of Regulation D: securities may be sold to an unlimited number of accredited investors and up to 35 non-accredited investors who meet the rule's sophistication standard, without general solicitation or advertising.
Entity TypeOther
Jurisdiction of OrganizationDelaware
Year Organized2025
Issuer Address845 Texas Avenue, Suite 3300, Houston, TX 77002
Phone(888) 220-6121
Industry / Fund TypeOther Real Estate
Securities TypeEquity
First Sale DateDecember 17, 2025
Filing DateOctober 15, 2026
Accession Number0002100016-26-000001
Total Offering Amount$590,648,975
Total Amount Sold$590,648,975
Amount Remaining$0
Total Investors550
Non-Accredited InvestorsNone
Minimum Investment$250,000
Offering DurationOne year or less
Sales Commissions$30,919,868 (to Hines Private Wealth Solutions LLC and 33 others)
Finders' Fees$0
Proceeds to Related Persons$13,913,941
Revenue RangeDecline to Disclose
State (Issuer Address)TX
Amendment Count1 amendments filed (2 Form D filings)
Signed ByLeRonica Hill, Chief Compliance Officer
Filings on Record
Every filing AltStreet's ledger holds for this CIK, newest first. Each opens the SEC archive folder.
D/AOctober 15, 20260002100016-26-000001DDecember 15, 20250002100016-25-000001
In the Terminal
Filing events
6
latest Oct 15, 2026
Critical / warning
0 / 2
2 watch · 2 info
Statements extracted
0
none on file
NAV prints
0
none on file
Offering chains
1
closed
Latest event First sale · Oct 15, 2026
SEC.gov
Open in the terminal Watch this issuerInvestor $149/mo unlocks the values; Pro $349/mo adds the universe.
Fund family Part of the HREX DST family: 5 vehicles across 5 generations · full family and the filing behind each link in the terminal
Investor
The full fund family and any related vehicles (parallel, feeder, successor, sibling series) with the filing that shows each link
6 filing events with values and deltas, latest 2026-10-15, and alerts on the next one
1 offering timeline: velocity, share raised, first-sale lag, stalled flags
Pro
This issuer against its cohort: rank by velocity and share raised among offerings filed the same quarter
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Related Persons (Form D)
Executive officers, directors, and promoters listed on the SEC Form D filing. Source: SEC.gov.
Hines Real Estate Exchange, LLC
Executive Officer · TX
HREX 9 Depositor, LLC
Executive Officer · TX
HREX 9 DST Manager, LLC
Executive Officer · TX
Jeffrey Hines
Executive Officer · TX
Placement Agents and Sales Compensation (Form D)
Who the issuer reported paying to sell the securities (Form D Item 12), with the FINRA registration number the filer gave. Source: SEC.gov.
Hines Private Wealth Solutions LLCCRD 128145 on BrokerCheck 
Associated broker-dealer: None · Houston, TX · Soliciting in all states
Hightower Securities, LLCCRD 116681 on BrokerCheck 
Associated broker-dealer: None · Chicago, IL
Cabin Securities, Inc.CRD 137608 on BrokerCheck 
Associated broker-dealer: None · Overland Park, KS
Concorde Investment Services, LLCCRD 151604 on BrokerCheck 
Associated broker-dealer: None · Ann Arbor, MI
Cambridge Investment Research, Inc.CRD 39543 on BrokerCheck 
Associated broker-dealer: None · Fairfield, IA
United Planners' Financial Services of AmericaCRD 20804 on BrokerCheck 
Associated broker-dealer: None · Scottsdale, AZ
Metropolitan Capital Investment Banc., Inc.CRD 148820 on BrokerCheck 
Associated broker-dealer: None · Chicago, IL
&PartnersCRD 3767 on BrokerCheck 
Associated broker-dealer: None · Nashville, TN
Ameriprise Financial Services, LLCCRD 6363 on BrokerCheck 
Associated broker-dealer: None · Minneapolis, MN
The Strategic Financial Alliance, Inc.CRD 126514 on BrokerCheck 
Associated broker-dealer: None · Atlanta, GA
Morgan Stanley Smith Barney LLCCRD 149777 on BrokerCheck 
Associated broker-dealer: None · Purchase, NY
Cetera Wealth Services, LLCCRD 13572 on BrokerCheck 
Associated broker-dealer: None · El Segundo, CA
LPL Financial LLCCRD 6413 on BrokerCheck 
Associated broker-dealer: None · Fort Mill, SC
Purshe Kaplan Sterling InvestmentsCRD 35747 on BrokerCheck 
Associated broker-dealer: None · Albany, NY
Realized Financial, Inc.CRD 22333 on BrokerCheck 
Associated broker-dealer: None · Austin, TX
Emerson Equity LLCCRD 130032 on BrokerCheck 
Associated broker-dealer: None · San Mateo, CA
Private Client Services, LLCCRD 120222 on BrokerCheck 
Associated broker-dealer: None · Louisville, KY
Cetera Financial Specialists LLCCRD 10358 on BrokerCheck 
Associated broker-dealer: None · Schaumburg, IL
World Investments, LLCCRD 20626 on BrokerCheck 
Associated broker-dealer: None · Lincroft, NJ
Berthel, Fisher & Company Financial Services, Inc.CRD 13609 on BrokerCheck 
Associated broker-dealer: None · Cedar Rapids, IA
Commonwealth Financial NetworkCRD 8032 on BrokerCheck 
Associated broker-dealer: None · Waltham, MA
Osaic Wealth, Inc.CRD 23131 on BrokerCheck 
Associated broker-dealer: None · Scottsdale, AZ
DFPG Investments, LLCCRD 155576 on BrokerCheck 
Associated broker-dealer: None · South Jordan, UT
Fortune Financial Services, Inc.CRD 42150 on BrokerCheck 
Associated broker-dealer: None · Monaca, PA
Cetera Advisors LLCCRD 10299 on BrokerCheck 
Associated broker-dealer: None · Greenwood Village, CO
Wells Fargo Clearing Services, LLCCRD 19616 on BrokerCheck 
Associated broker-dealer: None · St. Louis, MO
Realta Equities, Inc.CRD 23769 on BrokerCheck 
Associated broker-dealer: None · Wilmington, DE
Wells Fargo Advisors Financial Network, LLCCRD 11025 on BrokerCheck 
Associated broker-dealer: None · St. Louis, MO
Arkadios CapitalCRD 282710 on BrokerCheck 
Associated broker-dealer: None · Atlanta, GA
Kestra Investment Services, LLCCRD 42046 on BrokerCheck 
Associated broker-dealer: None · Austin, TX
CoreCap Investments, LLCCRD 37068 on BrokerCheck 
Associated broker-dealer: None · Southfield, MI
McNally Financial Services CorporationCRD 121196 on BrokerCheck 
Associated broker-dealer: None · San Antonio, TX
Osaic Institutions, Inc.CRD 35371 on BrokerCheck 
Associated broker-dealer: None · Merden, CT
LPL Enterprise, LLCCRD 8733 on BrokerCheck 
Associated broker-dealer: None · Fort Mill, SC
Questions About HREX 9, DST
Each answer is built from the values on the SEC filing and the AltStreet ledger, not from the issuer's marketing.
What is HREX 9, DST?HREX 9, DST is a Delaware entity organized in 2025 that filed a Form D with the SEC on October 15, 2026 in the Other Real Estate industry group. The filing claims Rule 506(b) for an offering of equity.
Is HREX 9, DST legit?AltStreet does not rate legitimacy; it reports the public record. HREX 9, DST filed a Form D with the SEC on October 15, 2026 claiming Rule 506(b). A Form D is a notice of an exempt offering, not a review or approval of it. The newest notice reports $590,648,975 sold to 550 investors. AltStreet's enforcement record (SEC, FINRA and state actions) shows no action naming the issuer as of today. Before investing, confirm the filing on EDGAR, check the seller's registration on FINRA BrokerCheck, and read the offering documents, which a Form D does not include.
Is HREX 9, DST registered with or approved by the SEC?No. A Form D is a notice that an issuer is selling securities under an exemption from registration, and the SEC does not review, approve, or pass on the merits of the offering. The filing shows that HREX 9, DST claimed Rule 506(b) and disclosed the items the form requires, such as the amount sold, the minimum investment, related persons, and anyone paid to sell the securities. It does not verify the issuer's claims or its business.
How much has HREX 9, DST raised?HREX 9, DST reported $590,648,975 sold from 550 investors of a $590,648,975 total offering as of the Form D filed October 15, 2026.
Who can invest in HREX 9, DST?The offering relies on Rule 506(b), which permits sales to accredited investors and to no more than 35 non-accredited investors who meet a sophistication standard, and prohibits general solicitation. The filing reports no non-accredited investors. The minimum investment accepted from an outside investor is $250,000.
What is the minimum investment in HREX 9, DST?The Form D lists $250,000 as the minimum investment accepted from any outside investor as of October 15, 2026. Issuers can waive their own minimums, and the figure does not include fees.
Who is selling HREX 9, DST and how are they paid?The Form D names Hines Private Wealth Solutions LLC (CRD 128145), associated with None; Hightower Securities, LLC (CRD 116681), associated with None; Cabin Securities, Inc. (CRD 137608), associated with None; Concorde Investment Services, LLC (CRD 151604), associated with None and 30 others as recipients of sales compensation soliciting in all states. Sales commissions are reported as $30,919,868 and finders' fees as $0. Form D allows these to be estimates. The issuer reports $13,913,941 of gross proceeds used or proposed to be used for payments to related persons.
Who is behind HREX 9, DST?The Form D lists 4 related persons: Hines Real Estate Exchange, LLC, executive officer (Sponsor of the Issuer); HREX 9 Depositor, LLC, executive officer (Depositor of the Issuer); HREX 9 DST Manager, LLC, executive officer (Administrative Trustee of the Issuer); Jeffrey C. Hines, executive officer (Chairman and Co-Chief Executive Officer). Form D Item 3 requires executive officers, directors, and promoters of the issuer to be listed.
Where is HREX 9, DST located?The issuer's address on its SEC filings is 845 Texas Avenue, Suite 3300, Houston, TX 77002. Its phone number of record is 888-220-6121. It is organized under the laws of Delaware.
How long is the HREX 9, DST offering open?The issuer indicated that the offering is not intended to last more than one year. An issuer must amend its Form D annually while a continuing offering stays open; 1 amendment is on record for this CIK.
What is HREX 9, DST's revenue?The issuer declined to disclose its revenue range on the Form D, which the form permits.
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Data Methodology
Capital raise figures, investor counts, and filing dates are sourced directly from SEC EDGAR Form D primary documents via the SEC EDGAR submissions API and full-text search index. EDGAR entity profiles and deal-level data are reviewed by AltStreet analysts with backgrounds in corporate finance and securities law — cross-referenced against offering circulars, audited financial statements, and primary regulatory filings before publication. Platform-provided information, where present, is clearly labeled and does not affect EDGAR data or AltStreet editorial coverage. Platforms may request factual corrections for demonstrable inaccuracies by contacting [email protected]. This page does not constitute investment advice.