Hines Global Income Trust Acquires Multifamily Community in Houston
(HOUSTON) – Hines, the international real estate firm, announced today that Hines Global Income Trust, Inc., has acquired Venue Museum District, a multifamily property located in the Museum District submarket of Houston.
Venue Museum District was constructed in 2009 and consists of 224 leasable units that are presently 92 percent leased, as well as a 15,625-square-foot parcel of adjacent land also acquired in the transaction. Located along the Houston Metrorail with quick access to the Texas Medical Center, Rice University, and Downtown Houston, Venue Museum District offers a high-quality residential experience.
Sherri Schugart, president and CEO of Hines Global Income Trust, said, “We are excited to add this top-quality property located at the nexus of Houston’s cultural, medical and business communities to our portfolio. We look forward to participating in the continued growth of the Houston market in years to come.”
About Hines Global Income Trust
Hines Global Income Trust 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 Income Trust, visit www.hinessecurities.com/current-offerings/hgit/.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 207 cities in 24 countries. Hines has approximately $116.4 billion of assets under management, including $64 billion for which Hines provides fiduciary investment management services, and $52.4 billion for which Hines provides third-party property-level services. The firm has 109 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,319 properties, totaling over 431 million square feet. The firm’s current property and asset management portfolio includes 527 properties, representing over 224 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.
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 include 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 Income Trust’s Annual Report on Form 10‑K for the year ended December 31, 2017, 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.
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