NEWS

Hines Global Income Trust Acquires The Alloy

November 14, 2019

(COL­LEGE PARK, MARY­LAND) – Hines, the inter­na­tion­al real estate firm, is pleased to announce that Hines Glob­al Income Trust, Inc. (“Hines Glob­al”) has acquired Alloy by Alta, a new 275‐​unit mul­ti­fam­i­ly asset locat­ed adja­cent to the Uni­ver­si­ty of Mary­land in Col­lege Park. Rebrand­ed The Alloy, the sev­en-sto­ry asset will increase Hines Global’s liv­ing sec­tor invest­ments to over $430 mil­lion globally.

The Alloy is the newest, and among the highest‐​quality assets in Col­lege Park. After deliv­er­ing in the first quar­ter of 2019, the asset leased at an aver­age rate of more than 40 units per month and is cur­rent­ly 97.5% leased.

The stu­dent-dom­i­nant mul­ti­fam­i­ly asset has first-rate ameni­ties and offers one‑, two- and three-bed­room apart­ments with units aver­ag­ing 838 square feet. Besides being less than one mile away from the Uni­ver­si­ty of Mary­land, The Alloy is also con­ve­nient­ly locat­ed near many of the area’s top employers.

Sher­ri Schugart, Pres­i­dent and CEO of Hines Glob­al, said, We are excit­ed about expand­ing Hines Global’s pres­ence in the U.S. mul­ti­fam­i­ly mar­ket with this strate­gic acquisition.”

Hines has devel­oped an impres­sive res­i­den­tial and stu­dent hous­ing track record and knows how to suc­cess­ful­ly main­tain occu­pan­cy and grow rents through proac­tive leas­ing and prop­er­ty man­age­ment,” added Senior Man­ag­ing Direc­tor Chuck Watters.

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​.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 219 cities in 23 coun­tries. Hines has approx­i­mate­ly $124.3 bil­lion of assets under man­age­ment, includ­ing $63.8 bil­lion for which Hines pro­vides fidu­cia­ry invest­ment man­age­ment ser­vices, and $60.5 bil­lion for which Hines pro­vides third-par­ty prop­er­ty-lev­el ser­vices. The firm has 148 devel­op­ments cur­rent­ly under­way around the world. His­tor­i­cal­ly, Hines has devel­oped, rede­vel­oped or acquired 1,362 prop­er­ties, total­ing over 449 mil­lion square feet. The firm’s cur­rent prop­er­ty and asset man­age­ment port­fo­lio includes 514 prop­er­ties, rep­re­sent­ing over 222 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. Vis­it www​.hines​.com for more information.

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, future ben­e­fits to be real­ized with respect to Hines Glob­al’s mul­ti­fam­i­ly port­fo­lio in the Unit­ed States, 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 the ten­ants at the mul­ti­fam­i­ly prop­er­ties remain­ing com­mit­ted 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, 2018, 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.

The Alloy
Press Contacts
George C. Lancaster

Senior Vice President
Corporate Communications
713 966 7676