Hines Announces UK Retail Park Acquisition by Hines Global Income Trust

(HOUSTON/LONDON) – Hines, a lead­ing glob­al real estate invest­ment man­ag­er, has com­plet­ed the acqui­si­tion of Junc­tion 27, a large for­mat retail park in Birstall, Eng­land, near the city of Leeds, on behalf of Hines Glob­al Income Trust, Inc. (“Hines Glob­al Income Trust” or ​“HGIT”). This acqui­si­tion expands HGIT’s pres­ence in a high-per­form­ing trade area and fur­ther diver­si­fies its $4.5 bil­lion portfolio.

The addi­tion of Junc­tion 27, pur­chased from Tri­tax Big Box REIT, marks HGIT’s entry into the UK retail mar­ket, high­light­ing its com­mit­ment to diver­si­fi­ca­tion by geog­ra­phy and real estate sec­tors, while focus­ing on sta­ble assets with strong long-term income and growth potential.

The asset is a well-con­fig­ured, 100% leased retail park com­prised of 13 suites over 131,000-square-feet of net rentable space. Its key posi­tion in the Birstall clus­ter, one of the UK’s pre­mier retail dis­tricts along the M62 motor­way, ben­e­fits from con­nec­tiv­i­ty to the major pop­u­la­tions of both Leeds and Brad­ford. Sup­port­ed by strong demo­graph­ics and an IKEA shad­ow anchor, the prop­er­ty has ben­e­fit­ted from robust sales, high foot traf­fic and long-term ten­ants, includ­ing Cur­rys Group Ltd, a major elec­tron­ics retail­er, and ScS Group plc, a home fur­nish­ings store.

“Real estate has remained resilient, offer­ing reli­able cash flow and strate­gic open­ings to lever­age evolv­ing mar­ket dynam­ics,” said Alfon­so Munk, Pres­i­dent and CIO of HGIT. ​“Good buy­ing oppor­tu­ni­ties are expect­ed to per­sist, but not all retail is cre­at­ed equal. Hav­ing local exper­tise and being selec­tive are essen­tial, so assets in key loca­tions and spe­cif­ic retail sub­types, such as Junc­tion 27, are par­tic­u­lar­ly appealing.”

Accord­ing to Hines Research, the glob­al retail sec­tor has a sig­nif­i­cant per­cent­age of mar­kets in some phase of the ​‘Buy’ cycle. Dom­i­nant larg­er for­mats, like retail parks in the UK, have seen strong occu­pi­er demand and a lim­it­ed devel­op­ment pipeline. With its glob­al man­date, Hines Glob­al Income Trust has the abil­i­ty to pur­sue com­pelling real estate invest­ment oppor­tu­ni­ties wher­ev­er they arise. 

Beyond Hines Glob­al Income Trust, Hines’ con­vic­tion in the retail sec­tor was exem­pli­fied ear­li­er this year by the acqui­si­tions of Span­ish retail REIT Lar Espana, which oper­ates almost 500,000 square meters of retail space, and West­point shop­ping cen­tre, a 104,000-square-meter retail asset, in west­ern Syd­ney, Australia.

About Hines Glob­al Income Trust

HGIT 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. Hines owns and oper­ates $90.1 bil­lion¹ of assets across prop­er­ty types and on behalf of a diverse group of insti­tu­tion­al and pri­vate wealth clients. Every day, our 5,000 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 as well as RIA AUM as of Decem­ber 31, 2024.

Any ESG or impact com­mit­ments made by Hines are not being pro­mot­ed and do not bind any invest­ment deci­sions made in respect of, or the stew­ard­ship of, HGIT. Any mea­sures imple­ment­ed in respect of such ESG or impact com­mit­ments may not be imme­di­ate­ly applic­a­ble to HGIT’s invest­ments and any imple­men­ta­tion can be over­rid­den or ignored at HGIT’s sole discretion.

For­ward Look­ing Statements

State­ments in this press release, includ­ing inten­tions, beliefs, expec­ta­tions or pro­jec­tions relat­ing to the acqui­si­tion 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 this prop­er­ty, future eco­nom­ic, com­pet­i­tive and mar­ket con­di­tions, the avail­abil­i­ty of addi­tion­al buy­ing oppor­tu­ni­ties for HGIT, 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 this prop­er­ty, risks asso­ci­at­ed with an eco­nom­ic down­turn in the region or the retail sec­tor, and oth­er risks described in the ​“Risk Fac­tors” sec­tion of HGIT’s Annu­al Report on Form 10 K 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.