NEWS

Hines Announces $292 Million in Acquisitions by Hines Global Income Trust and Completion of $124.7-Million DST Offering

January 15, 2025

Recent developments, including expansion into its ninth country, Italy, showcase HGIT’s conviction in its diversified portfolio strategy and commitment to individual investors’ investment goals

(HOUS­TON) – Hines, a lead­ing glob­al real estate invest­ment man­ag­er, today announced recent activ­i­ties with­in its pri­vate wealth plat­form, which enters 2025 with enthu­si­asm for the antic­i­pat­ed investable land­scape. In line with its strength in the indus­tri­al and liv­ing sec­tors, Hines Glob­al Income Trust, Inc. (“Hines Glob­al Income Trust” or HGIT”) recently:

  • Acquired Tor­tona Logis­tics, an indus­tri­al prop­er­ty in Tor­tona, Italy for approx­i­mate­ly $144 mil­lion, tak­ing the port­fo­lio into its ninth country.
  • Added E2 Apart­ments, a $148-mil­lion mul­ti­fam­i­ly asset in Evanston, Illi­nois, strength­en­ing HGIT’s foothold in the Mid­west­ern U.S.

Addi­tion­al­ly, Hines Pri­vate Wealth Solu­tions LLC suc­cess­ful­ly com­plet­ed HREX Mul­ti­fam­i­ly III DST, a $124.7‑million Delaware Statu­to­ry Trust (“DST”). The DST, which owns Diri­don West, a tro­phy-qual­i­ty liv­ing prop­er­ty in San Jose, Cal­i­for­nia, was designed to meet investors’ wealth plan­ning needs and was one of mul­ti­ple mul­ti­fam­i­ly DST offer­ings com­plet­ed by the firm in 2024. The asset was sourced from Hines Glob­al Income Trust.

These recent deals show­case HGIT’s abil­i­ty to cap­i­tal­ize on oppor­tu­ni­ties glob­al­ly and across prod­uct types. With the help of Hines’ local teams around the world, HGIT seeks to iden­ti­fy sta­ble assets with strong long-term income and growth poten­tial. Its diver­si­fied port­fo­lio, val­ued at $4.3 bil­lion as of Novem­ber 30, 2024, is two-thirds-weight­ed to the indus­tri­al and liv­ing sectors.

We believe Hines Glob­al Income Trust is well posi­tioned to take advan­tage of mar­ket shifts and oppor­tu­ni­ties, as demon­strat­ed by these recent trans­ac­tions,” not­ed Alfon­so Munk, Pres­i­dent of Hines Glob­al Income Trust. We are excit­ed to see com­pelling buy­ing oppor­tu­ni­ties present them­selves and look for­ward to con­tin­u­ing to build a port­fo­lio designed with our investors’ needs in mind.”

More on Tor­tona Logistics

Tor­tona Logis­tics, pur­chased in Decem­ber 2024, includes three assets in Tor­tona, Italy, a strate­gic dis­tri­b­u­tion node in North­ern Italy, with prox­im­i­ty to Milan, Turin, and the port of Genoa. Two of the three are new­ly built and 100% leased, while the third is a for­ward pur­chase with acqui­si­tion planned upon com­ple­tion in 2025. The project includes 158,503 square meters of Class A logis­tics with a weight­ed aver­age lease term of approx­i­mate­ly 11 years.

Tor­tona Logis­tics pro­vides Hines Glob­al Income Trust with indus­tri­al expo­sure with­in a prime loca­tion in a new geog­ra­phy, fur­ther diver­si­fy­ing its port­fo­lio. The acqui­si­tion was sourced by the Hines Italy team.

More on E2 Apartments

E2 Apart­ments is a Class‑A mul­ti­fam­i­ly com­plex walk­a­ble to North­west­ern Uni­ver­si­ty in Evanston, Illi­nois, a dynam­ic and high-bar­ri­er area. The 304,041-square-foot prop­er­ty, acquired in Decem­ber 2024, includes 352 units and is 98% leased. The prop­er­ty sits three blocks from the El and Metra sta­tions, and is sit­u­at­ed with­in desir­able down­town Evanston with access to restau­rants, cof­fee shops, and Whole Foods. E2 boasts impres­sive ameni­ties for the area, includ­ing a mas­sive pool deck and basketball/​pickleball court.

Its strate­gic loca­tion near a pre­mier uni­ver­si­ty, prox­im­i­ty to tran­sit, and live-study-play ameni­ties made it an attrac­tive oppor­tu­ni­ty for Hines Glob­al Income Trust, which sourced the deal through the Hines Chica­go team.

More on HREX Mul­ti­fam­i­ly III DST

HREX Mul­ti­fam­i­ly III DST, a sub­sidiary of Hines Glob­al Income Trust, allowed qual­i­fied investors to com­plete a like-kind exchange of prop­er­ty under Inter­nal Rev­enue Code Sec­tion 1031. The offer­ing pre­sent­ed a com­pelling solu­tion to aid in the defer­ment of cap­i­tal gains and oth­er tax­es while pro­vid­ing the oppor­tu­ni­ty to diver­si­fy real estate hold­ings through the own­er­ship of an insti­­tu­­tion­al-qual­i­­ty asset. Diri­don West, the prop­er­ty owned by the DST, is a Class A mul­ti­fam­i­ly asset with imme­di­ate access to pre­mier Sil­i­con Val­ley employ­ers and live-work-play ameni­ties. It fea­tures resort-style ameni­ties and lux­u­ry fin­ish­es across its 249 units.

About Hines Glob­al Income Trust

HGIT is a pub­lic, non-list­ed real estate invest­ment trust spon­sored by Hines. It com­menced oper­a­tions in 2014 and invests in com­mer­cial real estate invest­ments locat­ed in the Unit­ed States and inter­na­tion­al­ly. For addi­tion­al infor­ma­tion about HGIT, vis­it www​.hines​glob​al​in​cometrust​.com.

About Hines

Hines is a lead­ing glob­al real estate invest­ment man­ag­er. We own and oper­ate $93.0 billion1 of assets across prop­er­ty types and on behalf of a diverse group of insti­tu­tion­al and pri­vate wealth clients. Every day, our 5,000 employ­ees in 31 coun­tries draw on our 67-year his­to­ry to build the world for­ward by invest­ing in, devel­op­ing, and man­ag­ing some of the world’s best real estate. To learn more, vis­it www​.hines​.com and fol­low @Hines on social media.

¹In­cludes both the glob­al Hines orga­ni­za­tion and RIA AUM as of June 302024.

Any ESG or impact com­mit­ments made by Hines are not being pro­mot­ed and do not bind any invest­ment deci­sions made in respect of, or the stew­ard­ship of, HGIT. Any mea­sures imple­ment­ed in respect of such ESG or impact com­mit­ments may not be imme­di­ate­ly applic­a­ble to HGIT’s invest­ments and any imple­men­ta­tion can be over­rid­den or ignored at HGIT’s sole discretion.

For­ward Look­ing Statements

State­ments in this press release, includ­ing inten­tions, beliefs, expec­ta­tions or pro­jec­tions relat­ing to the acqui­si­tion described here­in and HGIT’s abil­i­ty to con­tin­ue to build its invest­ment port­fo­lio in a man­ner that meets its invest­ment objec­tives, are for­ward-look­ing state­ments with­in the mean­ing of Sec­tion 27A of the Secu­ri­ties Act of 1933, as amend­ed, and Sec­tion 21E of the Secu­ri­ties Exchange Act of 1934, as amend­ed. Such state­ments are based on cur­rent expec­ta­tions and assump­tions with respect to, among oth­er things, the poten­tial long-term per­for­mance of these prop­er­ties, future eco­nom­ic, com­pet­i­tive and mar­ket con­di­tions, the avail­abil­i­ty to HGIT of addi­tion­al buy­ing oppor­tu­ni­ties, and future busi­ness deci­sions that may prove to be incor­rect or inac­cu­rate. Impor­tant fac­tors that could cause actu­al results to dif­fer mate­ri­al­ly from those in the for­ward-look­ing state­ments include the risks asso­ci­at­ed with Hines being able to suc­cess­ful­ly man­age the prop­er­ties, risks asso­ci­at­ed with an eco­nom­ic down­turn in the region or the indus­tri­al or mul­ti­fam­i­ly sec­tors, and oth­er risks described in the Risk Fac­tors” sec­tion of HGIT’s Annu­al Report on Form 10‑K for the year end­ed Decem­ber 31, 2023, as updat­ed by its oth­er fil­ings with the Secu­ri­ties and Exchange Com­mis­sion. You are cau­tioned not to place undue reliance on any for­ward-look­ing statements.

No Offer of Secu­ri­ties

This press release shall not be deemed an offer to sell, or a solic­i­ta­tion of an offer to pur­chase, any secu­ri­ties. No one can invest direct­ly in the Hines Real Estate Exchange platform.