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​.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.

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 Contact
Erica Campbell

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