Hines Announces Acquisition of Two Midwest Assets Totaling Over $350 Million

Strategic Acquisitions on Behalf of Hines Global Income Trust Bring Portfolio’s Gross Asset Value to Over $6 Billion

(HOUS­TON) – Hines, the glob­al real estate invest­ment man­ag­er, today announced that Hines Glob­al Income Trust, Inc. (“Hines Glob­al Income Trust” or ​“HGIT”) has recent­ly acquired two assets in the Midwest:

• Left Bank: a 451-unit Class A mul­ti­fam­i­ly tow­er locat­ed in Chicago’s West Loop.
• Clay Ter­race: a 493,000-square-foot, pre­mier retail cen­ter with gro­cery ten­an­cy locat­ed just north of Indianapolis.

“We con­tin­ue to have strong con­vic­tion in the liv­ing and retail sec­tors, where durable demand, lim­it­ed new sup­ply, and long-term growth poten­tial remain con­sis­tent themes,” said Alfon­so Munk, Co-Head of Invest­ment Man­age­ment at Hines. ​“Both assets are well-locat­ed with­in high-per­form­ing Mid­west mar­kets, align­ing with our strat­e­gy to acquire high-qual­i­ty prop­er­ties with strong fundamentals.”

These addi­tions have increased the portfolio’s gross asset val­ue to over $6 bil­lion. Diver­si­fied by geog­ra­phy and sec­tor, HGIT is focused on sta­ble assets with strong long-term income and growth poten­tial. Over three-fourths of its gross asset val­ue is invest­ed in the liv­ing, retail, and indus­tri­al sectors.

More on Left Bank

Left Bank is 94% occu­pied and fea­tures a mix of stu­dios and one- to three-bed­room units. Locat­ed adja­cent to the Chica­go Riv­er, it offers pro­tect­ed riv­er views and a robust ameni­ty pack­age, includ­ing an ele­vat­ed ameni­ty ter­race, a fit­ness cen­ter, a lounge, grilling sta­tions, and a busi­ness cen­ter with co-work­ing space and con­fer­ence rooms.

Chica­go con­tin­ues to demon­strate strong mul­ti­fam­i­ly fun­da­men­tals, with lim­it­ed new supply—just 1.5% of exist­ing stock under con­struc­tion. The West Loop sub­mar­ket ben­e­fits from robust demand dri­vers, includ­ing prox­im­i­ty to major employ­ment nodes, excep­tion­al tran­sit con­nec­tiv­i­ty, and a vibrant live-work-play environment.

David Bach of Hines’ Mid­west team led this acquisition.

More on Clay Terrace

Clay Ter­race is a 95% leased, pre­mier open-air retail cen­ter locat­ed in Carmel, Indiana—Indianapolis’ pre­mier sub­urb. Anchored by Whole Foods and Dick’s Sport­ing Goods, the cen­ter fea­tures a strong mix of nation­al brands, includ­ing Sweet­green, Sepho­ra, and Lululemon.

The prop­er­ty is sit­u­at­ed at a high-vis­i­bil­i­ty inter­sec­tion and ranks as one of Indiana’s most fre­quent­ly vis­it­ed lifestyle cen­ters with 4.1 mil­lion annu­al vis­its, accord­ing to Plac​er​.ai. Clay Ter­race also includes a 14.4‑acre par­cel enti­tled for mul­ti­fam­i­ly devel­op­ment, allow­ing for den­si­fi­ca­tion potential.

Rec­og­nized as the #1 Best Place to Live in Indi­ana by Niche in 2025 and the #2 Best Place to Live in the U.S. by Liv­abil­i­ty in 2025, Carmel expe­ri­enced 31% pop­u­la­tion growth since 2010, com­pared to 13% in the Indi­anapo­lis metro. Addi­tion­al­ly, the Carmel sub­mar­ket boasts a retail vacan­cy rate of just 1.4%, which is well below the 5.1% metro aver­age, with no new sup­ply cur­rent­ly under construction.

John Tom­lin­son and Will Ren­ner, mem­bers of Hines’ Mid­west team, led this acquisition.

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​.hines​glob​al​in​cometrust​.com.

About Hines

Hines is a lead­ing glob­al real estate invest­ment man­ag­er. We own and oper­ate $91.8 bil­lion¹ of assets across prop­er­ty types and on behalf of a diverse group of insti­tu­tion­al and pri­vate wealth clients. Every day, our 4,600 employ­ees in 30 coun­tries draw on our 68-year his­to­ry to build the world for­ward by invest­ing in, devel­op­ing, and man­ag­ing some of the world’s best real estate. To learn more, vis­it www​.hines​.com and fol­low @Hines on social media. 

¹In­cludes both the glob­al Hines orga­ni­za­tion and RIA AUM as of June 30, 2025.

For­ward Look­ing Statements

State­ments in this press release, includ­ing inten­tions, beliefs, expec­ta­tions or pro­jec­tions relat­ing to the acqui­si­tions described here­in and HGIT’s abil­i­ty to con­tin­ue to build its invest­ment port­fo­lio in a man­ner that meets its invest­ment objec­tives, 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 these prop­er­ties, future eco­nom­ic, com­pet­i­tive and mar­ket con­di­tions, the avail­abil­i­ty to HGIT of addi­tion­al buy­ing oppor­tu­ni­ties, 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 these prop­er­ties, risks asso­ci­at­ed with any eco­nom­ic down­turn glob­al­ly or in the regions where the prop­er­ties are locat­ed, and oth­er risks described in the ​“Risk Fac­tors” sec­tion of HGIT’s Annu­al Report on Form 10K for the year end­ed Decem­ber 31, 2024, 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.