Hines Global Income Trust Acquires Self-Storage Portfolio

(NASHVILLE, TENN.) – Hines, the glob­al real estate firm, today announced that Hines Glob­al Income Trust (“HGIT”) has acquired a self-stor­age port­fo­lio con­sist­ing of five Class A, cli­mate con­trolled, self-stor­age prop­er­ties in greater Nashville, Tennessee.

The port­fo­lio con­sists of more than 3,200 stor­age units and 341,000 square feet across four dif­fer­ent loca­tions in greater Nashville. These loca­tions include one in urban Nashville, one in Franklin, one in Hen­der­son­ville and two in the Murfrees­boro area.

“This self-stor­age port­fo­lio adds prod­uct diver­si­fi­ca­tion to HGIT in a key insti­tu­tion­al mar­ket that has attrac­tive exist­ing and pro­ject­ed demo­graph­ics,” said Omar Thowfeek, man­ag­ing direc­tor, invest­ments of Hines Glob­al Income Trust. ​“Adding addi­tion­al prop­er­ties to expand the port­fo­lio is a pri­or­i­ty for HGIT to cre­ate scale with­in the self-stor­age sector.”

“Nashville’s self-stor­age mar­ket is poised for suc­cess giv­en the high demand growth and low rel­a­tive sup­ply pipeline,” said David Lawrence, man­ag­ing direc­tor at Hines. ​“These prop­er­ties are mar­ket-lead­ing assets in thriv­ing loca­tions, and they are very well posi­tioned to serve cus­tomers in these com­mu­ni­ties over the long-run. With this acqui­si­tion, we look for­ward to con­tin­u­ing to grow Hines’ pres­ence in the greater Nashville mar­ket and in the self-stor­age sec­tor in the years to come.”

HGIT is diver­si­fied by geog­ra­phy and real estate sec­tors, with a focus on sta­ble assets with strong long-term income poten­tial. This acqui­si­tion joins a port­fo­lio that is near­ly two-thirds weight­ed toward the indus­tri­al and liv­ing sec­tors and is val­ued at $3.1 billion.

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​.www​.hines​glob​al​in​cometrust​.com.

About Hines
Hines is a pri­vate­ly owned glob­al real estate invest­ment firm found­ed in 1957 with a pres­ence in 285 cities in 28 coun­tries. Hines over­sees invest­ment assets under man­age­ment total­ing approx­i­mate­ly $90.3 bil­lion¹. In addi­tion, Hines pro­vides third-par­ty prop­er­ty-lev­el ser­vices to 373 prop­er­ties total­ing 114.2 mil­lion square feet. His­tor­i­cal­ly, Hines has devel­oped, rede­vel­oped or acquired approx­i­mate­ly 1,530 prop­er­ties, total­ing over 511 mil­lion square feet. The firm cur­rent­ly has more than 198 devel­op­ments under­way around the world. With exten­sive expe­ri­ence in invest­ments across the risk spec­trum and all prop­er­ty types, and a foun­da­tion­al com­mit­ment to ESG, Hines is one of the largest and most-respect­ed real estate orga­ni­za­tions in the world. Vis­it http://www​.hines​.com for more information. 

¹In­cludes both the glob­al Hines orga­ni­za­tion as well as RIA AUM as of Decem­ber 31, 2021.

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, the poten­tial for growth in the greater Nashville area and growth of and demand for this prop­er­ty, 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 Hines being able to suc­cess­ful­ly man­age the prop­er­ty, risks asso­ci­at­ed with an eco­nom­ic down­turn in the region, and oth­er risks described in the ​“Risk Fac­tors” sec­tion of HGIT’s Annu­al Report on Form 10‑K for the year end­ed Decem­ber 31, 2021, 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.