Hines Global Income Trust Acquires Urban Mixed-Use Campus

(CHICA­GO) – Hines, the inter­na­tion­al real estate firm, is pleased to announce that Hines Glob­al Income Trust, Inc. (“Hines Glob­al”) has acquired the first of four build­ings in the Bradley Busi­ness Cen­ter, a 97% leased, 23-acre mixed-use cam­pus locat­ed in the sup­ply-con­strained North Cen­ter sub­mar­ket of Chicago. 

Bradley Busi­ness Cen­ter cam­pus is com­prised of four build­ings total­ing 467,000 square feet. This mixed-use acqui­si­tion pro­vides great flex­i­bil­i­ty to ten­ants, who cur­rent­ly use the build­ings for a vari­ety of uses, includ­ing med­ical office, indus­tri­al and recre­ation, among oth­ers. Its cen­tral­ly locat­ed site offers con­ve­nient high­way access and close prox­im­i­ty to Chicago’s afflu­ent North Side neigh­bor­hoods. Hines Glob­al acquired 2500 West Bradley Place with a final clos­ing on the bal­ance of the prop­er­ty to occur in the near future.

“These facil­i­ties ben­e­fit from a diverse mix of ten­ants who have a long track record of suc­cess­ful­ly serv­ing local and region­al demand,” said Matt Bai­ley, direc­tor at Hines. 

“We view this as long-term strate­gic real estate and are pleased to add the prop­er­ty to Hines’ foot­print in Chica­go. We look for­ward to fur­ther­ing the Center’s sta­tus as a suc­cess­ful neigh­bor­hood anchor,” added Will Ren­ner, man­ag­ing direc­tor at Hines.

Jan­ice Walk­er, chief oper­at­ing offi­cer of Hines Glob­al added, ​“Bradley Busi­ness Cen­ter is a strong addi­tion to Hines Global’s diverse port­fo­lio. This well-locat­ed site is poised to fur­ther strength­en Hines Global’s resilient income profile.”

Hines Glob­al is diver­si­fied by geog­ra­phy and real estate asset class, with a focus on dynam­ic sec­tors and mar­kets. This mixed-use acqui­si­tion joins a port­fo­lio that is rough­ly 75% weight­ed toward the indus­tri­al and liv­ing sec­tors and is val­ued at over $2.4 billion.

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

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 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 val­ue to be gen­er­at­ed by the busi­ness 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 busi­ness cen­ter, the ten­ant remain­ing com­mit­ted to its lease oblig­a­tions and con­tin­u­ing to pay rent in a time­ly man­ner 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.