Hines Global Income Trust Acquires Goose Island Creative Office Building

(CHICA­GO) – Hines, the glob­al real estate firm, announced today that Hines Glob­al Income Trust, Inc. has acquired 1315 N. North Branch, a ful­ly-leased, 157,450-square-foot, recent­ly ren­o­vat­ed cre­ative office build­ing in the emerg­ing Goose Island sub­mar­ket of Chicago.

1315 N. North Branch is an urban infill build­ing locat­ed on three acres and leased to six ten­ants. The building’s indus­tri­al design with loft­ed ceil­ings, over­sized sky­lights and divid­ed-light win­dows com­bined with a spa­cious fit­ness cen­ter and lock­ers, a golf sim­u­la­tor, pri­vate out­door patios and decks and heat­ed indoor park­ing has attract­ed ten­ants from a diverse set of indus­tries includ­ing finan­cial ser­vices, design and logis­tics. Each of the suites has its own entrance and iden­ti­ty, pro­vid­ing con­ve­nience and the abil­i­ty for ten­ants to indi­vid­u­al­ize their spaces.

Locat­ed in the mid­dle of Chicago’s most afflu­ent neigh­bor­hoods, Goose Island ben­e­fits from robust ten­ant demand and neigh­bor­hood tail­winds dri­ven by an increas­ing set of live, work, and play offerings.

“Across our mar­kets we’ve noticed that urban neigh­bor­hood offices offer­ing a unique aes­thet­ic, con­ve­nient access and curat­ed ten­ant envi­ron­ments con­tin­ue to per­form with pos­i­tive ten­ant feed­back. We look for­ward to fur­ther­ing Goose Island’s excit­ing evo­lu­tion through active own­er­ship and engage­ment at 1315 N. North Branch,” said Will Ren­ner, man­ag­ing direc­tor at Hines.

Jan­ice Walk­er, chief oper­at­ing offi­cer of Hines Glob­al Income Trust added, ​“We are see­ing com­pelling invest­ments in the dif­fer­en­ti­at­ed office space. 1315 N. North Branch affords the fund an oppor­tu­ni­ty to acquire a cre­ative office prod­uct with excep­tion­al build­ing attrib­ut­es in a dynam­ic loca­tion. The mat­u­ra­tion of the sub­mar­ket offers expo­sure to a micro-loca­tion posi­tioned for con­tin­ued growth and demand.”

Hines Glob­al Income Trust is diver­si­fied by geog­ra­phy and real estate sec­tors, with a focus on sta­ble assets with strong long-term income poten­tial. This office acqui­si­tion com­ple­ments a port­fo­lio that is near­ly two thirds weight­ed toward the indus­tri­al and liv­ing sec­tors and is val­ued at $2.9 billion.

Cush­man & Wake­field, led by Cody Hun­dert­mark, David Knapp and Tom Sitz, served as bro­ker for the transaction.

About Hines Glob­al Income Trust, Inc.
Hines Glob­al Income Trust, Inc. 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 Hines Glob­al Income Trust, vis­it www​.www​.hines​glob​al​in​cometrust​.com.

About Hines
Hines is a pri­vate­ly owned glob­al real estate invest­ment firm found­ed in 1957 with a pres­ence in 255 cities in 27 coun­tries. Hines over­sees invest­ment assets under man­age­ment total­ing approx­i­mate­ly $83.6 bil­lion¹. In addi­tion, Hines pro­vides third-par­ty prop­er­ty-lev­el ser­vices to more than 367 prop­er­ties total­ing 138.3 mil­lion square feet. His­tor­i­cal­ly, Hines has devel­oped, rede­vel­oped or acquired approx­i­mate­ly 1,486 prop­er­ties, total­ing over 492 mil­lion square feet. The firm cur­rent­ly has more than 171 devel­op­ments under­way around the world. With exten­sive expe­ri­ence in invest­ments across the risk spec­trum and all prop­er­ty types, and a foun­da­tion­al com­mit­ment to ESG, Hines is one of the largest and most-respect­ed real estate orga­ni­za­tions in the world. Vis­it www​.hines​.com for more information.

¹In­cludes both the glob­al Hines orga­ni­za­tion as well as RIA AUM as of June 30, 2021.

For­ward-Look­ing State­ments
State­ments in this press release, includ­ing inten­tions, beliefs, expec­ta­tions or pro­jec­tions relat­ing to the acqui­si­tion described here­in, 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 for growth in the dif­fer­en­ti­at­ed office space and poten­tial growth for the loca­tion, the poten­tial long-term per­for­mance of this prop­er­ty, future eco­nom­ic, com­pet­i­tive and mar­ket con­di­tions 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 prop­er­ty, risks asso­ci­at­ed with an eco­nom­ic down­turn in the region, and oth­er risks described in the ​“Risk Fac­tors” sec­tion of Hines Glob­al’s Annu­al Report on Form 10‑K for the year end­ed Decem­ber 31, 2020, 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.