Hines Global REIT II Acquires Prime Retail in Cincinnati

January 9, 2017

(CINCIN­NATI) – Hines, the inter­na­tion­al real estate firm, announced today that Hines Glob­al REIT II, Inc. has acquired Rook­wood Pavil­ion and Rook­wood Com­mons, two con­tigu­ous shop­ping cen­ters that oper­ate as a sin­gle prop­er­ty referred to as Rook­wood, locat­ed in the Mid­town sub­mar­ket of Cincin­nati, Ohio.

Rook­wood con­sists of 600,071 square feet of gross leasable area that is 97 per­cent leased to 73 lead­ing retail­ers and restau­rants, includ­ing Whole Foods, REI, Nord­strom Rack, T.J. Maxx, Joseph-Beth Book­sellers, P.F. Chang’s, and J. Alexander’s. Known as a unique, high-end open-air lifestyle cen­ter, Rook­wood serves a dense­ly pop­u­lat­ed, urban trade area from its strate­gic loca­tion approx­i­mate­ly five miles north­east of Cincinnati’s dynam­ic cen­tral busi­ness district.

Sher­ri Schugart, pres­i­dent and CEO of Hines Glob­al REIT II, said, We were attract­ed to Rook­wood because it con­tains an out­stand­ing col­lec­tion of retail­ers in an afflu­ent, urban trade area with high bar­ri­ers to entry. The cen­ter serves shop­pers from all over Cincin­nati and North­ern Ken­tucky, includ­ing over 50,000 stu­dents at neigh­bor­ing Uni­ver­si­ty of Cincin­nati and Xavier University.”

Hines Vice President/​Property Man­age­ment Dan Eifert not­ed, Rook­wood is con­ve­nient­ly locat­ed in close prox­im­i­ty to some of Cincinnati’s most attrac­tive and afflu­ent neigh­bor­hoods, includ­ing Hyde Park, Oak­ley, Colum­bia-Tus­cu­lum and Mount Look­out. These neigh­bor­hoods have enjoyed rapid appre­ci­a­tion over the past five years, com­mand some of the high­est home val­ues in Cincin­nati, and have res­i­dents with some of the area’s high­est income lev­els, all of which have con­tributed to Rookwood’s success.”

This acqui­si­tion rep­re­sents Hines Glob­al REIT II’s sixth pur­chase and is the first retail prop­er­ty in its port­fo­lio. East­dil Secured rep­re­sent­ed the sell­er in the transaction.

Hines Glob­al REIT II 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 REIT II, vis­it‑2/.

Hines is a pri­vate­ly owned glob­al real estate invest­ment firm found­ed in 1957 with loca­tions in 182 cities in 20 coun­tries. As of Decem­ber 31, 2015, Hines had $89.1 bil­lion of assets under man­age­ment, includ­ing $42.5 bil­lion for which Hines pro­vides fidu­cia­ry invest­ment man­age­ment ser­vices, and $46.6 bil­lion for which Hines pro­vides third-par­ty prop­er­ty-lev­el ser­vices. Hines has devel­oped, rede­vel­oped or acquired 1,235 prop­er­ties, total­ing over 409 mil­lion square feet. The firm’s cur­rent prop­er­ty and asset man­age­ment port­fo­lio includes 457 prop­er­ties, rep­re­sent­ing over 193 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, ten­ant per­for­mance, 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 includ­ing the risks asso­ci­at­ed with the abil­i­ty and will­ing­ness of the cur­rent ten­ants to con­tin­ue to make rental pay­ments pur­suant to their lease agree­ments and oth­er risks described in the Risk Fac­tors” sec­tion of Hines Glob­al II’s Annu­al Report on Form 10‑K for the year end­ed Decem­ber 31, 2015, 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 Contact
Erica Campbell

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