Hines Global Income Trust Acquires New Boutique Office Building in Prime Houston Mixed-Use Community

(HOUS­TON, TEXAS) – Hines, the glob­al real estate firm, today announced that Hines Glob­al Income Trust (“HGIT”) has acquired 200 Park Place for $145 mil­lion. As one of the most high­ly sought-after office build­ings in Hous­ton, the state-of-the-art project, which boasts over 206,000 square feet, is part of an upscale mixed-use com­mu­ni­ty with­in Houston’s Inner Loop, mak­ing it a pre­mi­um loca­tion for cur­rent and future tenants.

Locat­ed at 400 Wes­t­heimer Road, the asset is 100% leased to a diverse ros­ter, with JLL and Buck­eye Part­ners serv­ing as the anchor ten­ants. Sur­round­ed by walk­a­ble high-end shops, restau­rants and green space, 200 Park Place offers ten­ants a unique live-work-play expe­ri­ence. Com­plet­ed in April 2020, the build­ing is WELL and LEED cer­ti­fied and is ful­ly elec­tric, exceed­ing cur­rent local codes rel­a­tive to sus­tain­abil­i­ty and per­for­mance requirements.

“As high-pro­file com­pa­nies con­tin­ue to look to Hous­ton for best-in-class, well-ameni­tized build­ings, and Hous­ton con­tin­ues to lead the U.S. on return-to-office rates, our acqui­si­tion of 200 Park Place allows us to strate­gi­cal­ly cap­i­tal­ize on these trends and the ongo­ing evo­lu­tion of com­mer­cial real estate,” said Jan­ice Walk­er, chief oper­at­ing offi­cer of Hines Glob­al Income Trust. ​“200 Park Place is a high-qual­i­ty asset with an envi­ron­men­tal­ly sus­tain­able approach mak­ing it an attrac­tive addi­tion to the port­fo­lio espe­cial­ly when fac­tor­ing in its basis which is below cur­rent replace­ment cost. We are focused on con­tin­ued diver­si­fi­ca­tion of the port­fo­lio with insti­tu­tion­al-qual­i­ty, next-gen­er­a­tion assets in dynam­ic loca­tions, because ten­ants are eager for this kind of product.”

“Houston’s Riv­er Oaks Dis­trict is a cen­tral­ly locat­ed sub­mar­ket that is con­tin­u­ing to see inter­est from those look­ing to work and play in an engag­ing, upscale neigh­bor­hood,” said John Mooz, senior man­ag­ing direc­tor at Hines. ​“200 Park Place’s mod­ern design and walk­a­ble ameni­ties dif­fer­en­ti­ate it from oth­er office and retail oppor­tu­ni­ties along Wes­t­heimer Road, mak­ing it a strate­gic loca­tion for invest­ment in this key submarket.”

The acqui­si­tion joins a $3.4 bil­lion port­fo­lio that is rough­ly two-thirds weight­ed toward the indus­tri­al and liv­ing sec­tors. HGIT is diver­si­fied by geog­ra­phy and real estate asset class with a focus on dynam­ic sec­tors and markets.

About Hines Glob­al Income Trust
Hines Glob­al Income Trust 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​.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 285 cities in 28 coun­tries. Hines over­sees invest­ment assets under man­age­ment total­ing approx­i­mate­ly $90.3 bil­lion¹. In addi­tion, Hines pro­vides third-par­ty prop­er­ty-lev­el ser­vices to 373 prop­er­ties total­ing 114.2 mil­lion square feet. His­tor­i­cal­ly, Hines has devel­oped, rede­vel­oped or acquired approx­i­mate­ly 1,530 prop­er­ties, total­ing over 511 mil­lion square feet. The firm cur­rent­ly has more than 198 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 http://www​.hines​.com for more information. 

¹In­cludes both the glob­al Hines orga­ni­za­tion as well as RIA AUM as of Decem­ber 31, 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 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 or the stu­dio sec­tor, and oth­er risks described in the ​“Risk Fac­tors” sec­tion of HGIT’s Annu­al Report on Form 10‑K for the year end­ed Decem­ber 31, 2021, 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.