NEWS

Hines Global Income Trust Expands Its UK Logistics Portfolio with West Midlands Acquisition

April 1, 2022

(LON­DON) – Hines, the glob­al real estate firm, announced today that Hines Glob­al Income Trust has acquired City Cen­tral Coven­try, a 400,000-square-foot urban logis­tics park locat­ed in the U.K.’s Gold­en Tri­an­gle,’ a pre­mier loca­tion for logis­tics and dis­tri­b­u­tion operations.

The mul­ti-let urban logis­tics estate is locat­ed in Cen­tral City Coven­try, West Mid­lands, with access to 90% of the UK’s pop­u­la­tion with­in four hours’ dri­ve time, and sits in close prox­im­i­ty to the M6, M1, and A1 motor­way net­works. A pop­u­lar gate­way and region­al last-mile dis­tri­b­u­tion des­ti­na­tion, the West Mid­lands saw a growth in last-mile space reach a record 6.4 mil­lion square feet in 2021, 42% above its 10-year aver­age of 4.5 mil­lion square feet, demon­strat­ing its pop­u­lar­i­ty with occupiers.

Matthew Leonard, invest­ment asso­ciate at Hines UK, com­ment­ed, We con­tin­ue to have strong con­vic­tion for UK logis­tics and pos­i­tive e‑commerce trends. Cen­tral City Coven­try is a prime last-mile loca­tion pro­vid­ing imme­di­ate access to the UK’s major motor­way net­works, mean­ing six mil­lion peo­ple can be accessed in under 30 min­utes. We antic­i­pate that well-con­nect­ed logis­tics assets in dense res­i­den­tial areas will con­tin­ue to out­per­form as occu­piers seek to max­imise drop den­si­ties and expand last-mile footprints.”

Omar Thowfeek, man­ag­ing direc­tor, invest­ments of Hines Glob­al Income Trust added, The asset’s urban infill loca­tion in the Gold­en Tri­an­gle com­bined with high bar­ri­ers to entry and tight­en­ing mar­ket fun­da­men­tals make it a strong addi­tion to our exist­ing port­fo­lio of diver­si­fied glob­al properties.”

This acqui­si­tion marks the fifth UK logis­tics project cur­rent­ly held by Hines Glob­al Income Trust. Sit­u­at­ed in key sup­ply-con­strained urban loca­tions and ser­vic­ing world-class occu­piers, these prop­er­ties present strong long-term growth prospects. Glob­al­ly, its indus­tri­al assets span sev­en coun­tries and make up the largest asset class in its $2.9 bil­lion port­fo­lio, fol­lowed by the liv­ing sec­tor. Hines Glob­al Income Trust is diver­si­fied by geog­ra­phy and real estate sec­tors, with a focus on sta­ble assets with strong long-term income potential.

Ends

About Hines Glob­al Income Trust, Inc.
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 Hines Glob­al Income Trust, 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 285 cities in 28 coun­tries. Hines over­sees invest­ment assets under man­age­ment val­ued at 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. Since enter­ing Europe in 1991, Hines has grown its Euro­pean plat­form to include offices in 17 cities as well as a pres­ence in 60 cities in 14 coun­tries. Hines over­sees invest­ment assets under man­age­ment val­ued at approx­i­mate­ly €24.5 bil­lion and pro­vides third-par­ty prop­er­ty-lev­el ser­vices total­ing 4.3 mil­lion square meters in Europe, in Aus­tria, Czech Repub­lic, Den­mark, Fin­land, France, Ger­many, Greece, Ire­land, Italy, Nether­lands, Poland, Spain and the Unit­ed King­dom. Vis­it www​.hines​.com for more infor­ma­tion. ¹In­cludes both the glob­al Hines orga­ni­za­tion as well as RIA AUM as of 31 Decem­ber 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 urban logis­tics sec­tor and poten­tial future invest­ments in the sec­tor by Hines Glob­al, 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 urban logis­tics sec­tor, and oth­er risks described in the Risk Fac­tors” sec­tion of Hines Glob­al’s most recent Annu­al Report on Form 10‑K, 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
Erica Campbell

Hines
212 294 9024