NEWS

Hines Global Income Trust Acquires The Emerson

January 27, 2020

(CEN­TRE­VILLE, VIR­GINIA) – Hines, the inter­na­tion­al real estate firm, is pleased to announce that Hines Glob­al Income Trust, Inc. (“Hines Glob­al”) has acquired the Emer­son, a new­ly con­struct­ed Class A, 355‐​unit mul­ti­fam­i­ly asset locat­ed in Cen­tre­ville, Vir­ginia, approx­i­mate­ly 21 miles west of Wash­ing­ton, D.C.

The Emer­son is the first new prod­uct to be deliv­ered in the last five years with­in a three-mile radius of its loca­tion. Locat­ed in the Out­ly­ing Fair­fax sub­mar­ket of North­ern Vir­ginia, the Emer­son sits at the con­flu­ence of three major thor­ough­fares: I‑66, Route 28, and Route 29.

The Emer­son has first-rate ameni­ties and offers stu­dio, one‑, two- and three-bed­room apart­ments with units aver­ag­ing 925 square feet. Since its deliv­ery in the sec­ond quar­ter of 2019, the asset has shown excep­tion­al lease-up momen­tum and is cur­rent­ly 67% leased and 65% occupied.

Jan­ice Walk­er, Chief Oper­at­ing Offi­cer of Hines Glob­al, said, The Emer­son is the newest prop­er­ty and, we believe, the high­est-qual­i­ty offer­ing in a sub­mar­ket where the aver­age age of mul­ti­fam­i­ly prod­uct is 23 years. Giv­en the age of the com­pe­ti­tion and the lim­it­ed sup­ply pipeline, the Emer­son is well‐​positioned to achieve pre­mi­um rents while main­tain­ing sta­bi­lized occu­pan­cy. We are excit­ed about expand­ing our mul­ti­fam­i­ly port­fo­lio with this strate­gic acquisition.”

Demand for mul­ti­fam­i­ly with­in sub­ur­ban Fair­fax Coun­ty is high­ly cor­re­lat­ed with the project’s prox­im­i­ty to the major busi­ness nodes of the region. Sit­u­at­ed at the inter­sec­tion of three major thor­ough­fares, the Emer­son pro­vides great access to the area’s employ­ers,” added Senior Man­ag­ing Direc­tor Chuck Watters.

About Hines Global

Hines Glob­al is a pub­lic, non-trad­ed per­pet­u­al real estate invest­ment trust (REIT), spon­sored by Hines, that invests in insti­tu­tion­al-cal­iber pri­vate real estate from around the world. Hines Glob­al com­menced oper­a­tions in 2014, and seeks to invest in qual­i­ty com­mer­cial real estate across a vari­ety of asset class­es, which may include office, retail, indus­tri­al, residential/​living, hos­pi­tal­i­ty or leisure, with a port­fo­lio that totals 8.5 mil­lion square feet and 94 build­ings as of Sep­tem­ber 30, 2019. 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 leas­ing suc­cess at the Emer­son, 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 Hines Global’s mul­ti­fam­i­ly prop­er­ties, includ­ing the Emer­son, remain­ing com­mit­ted and con­tin­u­ing to pay rent in a time­ly man­ner, the abil­i­ty of Hines to secure addi­tion­al ten­ants for the Emer­son, 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.

Press Contacts
George C. Lancaster

Senior Vice President
Corporate Communications
713 966 7676