NEWS

Hines Global Income Trust Acquires Building and Development Rights for ABC Westland Business Park in the Netherlands

May 6, 2019

(LON­DON) – Hines, the inter­na­tion­al real estate firm, announced today that Hines Glob­al Income Trust, Inc. has acquired ABC West­land in the Nether­lands. The free­hold logis­tics park is locat­ed close to The Hague and pre­dom­i­nant­ly serves occu­piers in the fresh fruit and veg­etable indus­try, pro­vid­ing a wide range of ser­vices such as pro­duc­tion, logis­tics, whole­sale and trade, pack­ag­ing and oth­er relat­ed activities.

The logis­tics park incor­po­rates both a range of 13 exist­ing build­ings and land for poten­tial future devel­op­ment. The expe­ri­enced incum­bent man­age­ment team will remain in place to con­tin­ue to pro­vide an excel­lent ser­vice to the diverse range of ten­ants on the park.

The prop­er­ty encom­pass­es 117,000 square meters of logis­tics ware­house and com­mer­cial office space. The roofs of the logis­tics busi­ness premis­es are equipped with 18,285 solar pan­els, which sup­ply approx­i­mate­ly 30% of the cur­rent ener­gy con­sump­tion in the park. With an estab­lished rep­u­ta­tion as one of Europe’s largest logis­tics hub for food and fresh pro­duce, ABC West­land is home to over 50 food com­pa­nies and sup­pli­ers. This includes com­mer­cial enter­pris­es, whole­salers, pro­cess­ing com­pa­nies, logis­ti­cal ser­vice providers and pack­ing com­pa­nies han­dling pro­duce such as fruit and veg­eta­bles and floriculture.

ABC West­land is locat­ed in the mid­dle of the West­land region, an inter­na­tion­al grow­ing area and agri-food clus­ter. It is acknowl­edged for its logis­tics trade, research and devel­op­ment and the world’s largest green­house area. More­over, the park sits between the Port of Rot­ter­dam and The Hague.

ABC West­land fits per­fect­ly into our glob­al port­fo­lio and its strate­gic loca­tion close to the Port of Rot­ter­dam has enabled the site to become Europe’s lead­ing food logis­tics hub, serv­ing mar­kets across the region,” said Lars Huber, CEO of Hines Europe. The fresh pro­duce and food park have mas­sive growth potential.”

Sher­ri Schugart, chief exec­u­tive offi­cer of Hines Glob­al Income Trust, added: Hines Glob­al Income Trust is excit­ed about expand­ing our pres­ence in the Dutch ware­house mar­ket with this strate­gic acqui­si­tion. ABC West­land rep­re­sents a vital logis­tics hub in the heart of the West­land with imme­di­ate access to the port of Rot­ter­dam and plays an essen­tial role in the glob­al food dis­tri­b­u­tion sup­ply chain.”

Andy Smith, man­ag­ing direc­tor and head of Hines Nether­lands, said: Hines Nether­lands is pleased to add to our logis­tics port­fo­lio in the Nether­lands and will con­tin­ue to look for excep­tion­al oppor­tu­ni­ties to broad­en our invest­ment depth and breadth in the sec­tor togeth­er with our grow­ing team of spe­cial­ist local professionals.”

Hines was assist­ed by Arcadis, Chatham Finan­cial, CR Cap­i­tal Advi­so­ry, EY, Sav­ills, and Sim­mons & Sim­mons and has received financ­ing from pbb Deutsche Pfand­brief­bank AG.

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 Hines Glob­al Income Trust, vis­it http://​www​.hinesse​cu​ri​ties​.com/​c​u​r​r​e​n​t​-​o​f​f​e​r​i​n​g​s​/​hgit/.

About Hines

Hines is a pri­vate­ly owned glob­al real estate invest­ment firm found­ed in 1957 with a pres­ence in 214 cities in 24 coun­tries. Hines has approx­i­mate­ly $120.6 bil­lion of assets under man­age­ment, includ­ing $66.5 bil­lion for which Hines pro­vides fidu­cia­ry invest­ment man­age­ment ser­vices, and $54.1 bil­lion for which Hines pro­vides third-par­ty prop­er­ty-lev­el ser­vices. The firm has 128 devel­op­ments cur­rent­ly under­way around the world. His­tor­i­cal­ly, Hines has devel­oped, rede­vel­oped or acquired 1,348 prop­er­ties, total­ing over 444 mil­lion square feet. The firm’s cur­rent prop­er­ty and asset man­age­ment port­fo­lio includes 512 prop­er­ties, rep­re­sent­ing over 223 mil­lion square feet. With exten­sive expe­ri­ence in invest­ments across the risk spec­trum and all prop­er­ty types, and a pio­neer­ing com­mit­ment to sus­tain­abil­i­ty, 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 a pres­ence in 57 cities in 13 coun­tries and Hines cur­rent­ly has over €17.0 bil­lion of assets under man­age­ment in Den­mark, Fin­land, France, Ger­many, Greece, Ire­land, Italy, Nether­lands, Nor­way, Poland, Spain and the Unit­ed Kingdom.

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George C. Lancaster

Senior Vice President
Corporate Communications
713 966 7676