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Hines Global Income Trust has acquired the Duboce Apartments, an 87-unit rental complex in the Duboce Triangle, for $38 million, The Real Deal has learned. 

Hines acquired the ground lease for the 70,500-square-foot asset — large for the San Francisco market — with addresses of 2198 Market Street and 181 Sanchez Street, on Sept. 16, according to property records and a Securities & Exchange Commission filing from Oct. 7. The sale comes to about $436,800 per unit.