NEWS

Hines Global Income Trust Acquires Strategic Fulfillment Center Near Louisville, Kentucky

May 18, 2021

The deal marks the seventh investment in the logistics sector within the past year

(LOUISVILLE, KY) — Hines, the inter­na­tion­al real estate firm, is pleased to announce that Hines Glob­al Income Trust, Inc. (“Hines Glob­al”) has acquired 900 Patrol Road, a 100%-leased e‑commerce ful­fill­ment cen­ter just north of down­town Louisville. A cen­tral­ly locat­ed logis­tics hub, Louisville is home to UPS World­port, three inter­state high­ways and two class-one railroads.

This facil­i­ty ben­e­fits from envi­able access to large U.S. pop­u­la­tion cen­ters and the rel­a­tive scarci­ty of devel­opable land across the Louisville MSA,” said Will Ren­ner, man­ag­ing direc­tor at Hines. We see Louisville as a key mar­ket for our con­tin­ued indus­tri­al activ­i­ty across the Mid­west, with rough­ly 100 mil­lion peo­ple reach­able with­in a nine-hour drive.”

Omar Thowfeek, Hines Global’s man­ag­ing direc­tor of invest­ments, said: Hines Glob­al con­tin­ues to be bull­ish on the indus­tri­al sec­tor and wel­comes the addi­tion of 900 Patrol Road to our port­fo­lio. This mis­sion-crit­i­cal e‑commerce facil­i­ty pro­vides us expo­sure to a large major­i­ty of the Mid­west, sup­port­ed by access to major high­way arte­ri­als and a deep labor pool.”

Hines Glob­al is diver­si­fied by geog­ra­phy and real estate asset class, with a focus on resilient sec­tors and mar­kets. Inclu­sive of this acqui­si­tion, the port­fo­lio cur­rent­ly holds 15 indus­tri­al assets, which make up half its over­all val­ue of $2 bil­lion. Its indus­tri­al allo­ca­tion spans the Unit­ed States, Nether­lands, Unit­ed King­dom, Poland, Ger­many and Spain.

Hines has been invest­ing and devel­op­ing in the indus­tri­al real estate sec­tor since 1957 with 333 projects in 13 coun­tries. Glob­al­ly, the firm has acquired 42 mil­lion square feet of space and devel­oped 47 mil­lion square feet (with 10.9 mil­lion square feet of projects cur­rent­ly in design or under devel­op­ment) in the indus­tri­al sector.

About Hines Glob­al
Hines Glob­al 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, vis­it 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 240 cities in 27 coun­tries. Hines over­sees a port­fo­lio of assets under man­age­ment val­ued at approx­i­mate­ly $160.9 billion,¹ includ­ing $81.7 bil­lion in assets under man­age­ment for which Hines serves as invest­ment man­ag­er, and $79.2 bil­lion rep­re­sent­ing more than 172.9 mil­lion square feet of assets for which Hines pro­vides third-par­ty prop­er­ty-lev­el ser­vices. His­tor­i­cal­ly, Hines has devel­oped, rede­vel­oped or acquired approx­i­mate­ly 1,450 prop­er­ties, total­ing over 485 mil­lion square feet. The firm has more than 180 devel­op­ments cur­rent­ly under­way around the world. With exten­sive expe­ri­ence in invest­ments across the risk spec­trum and all prop­er­ty types, and a pio­neer­ing com­mit­ment to ESG, Hines is one of the largest and most-respect­ed real estate orga­ni­za­tions in the world.

1
Includes both the glob­al Hines orga­ni­za­tion as well as RIA AUM as of Decem­ber 312020.

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 val­ue to be gen­er­at­ed by the ful­fill­ment cen­ter, future expan­sion of Hines Global’s world­wide logis­tics port­fo­lio, 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 ful­fill­ment cen­ter, the ten­ant remain­ing com­mit­ted to its lease oblig­a­tions and con­tin­u­ing to pay rent in a time­ly man­ner, Hines Glob­al being able to locate and close on addi­tion­al oppor­tu­ni­ties to invest in logis­tics assets, 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.

Press Contacts
George C. Lancaster

Senior Vice President
Corporate Communications
713 966 7676