NEWS

Hines Global Income Trust Acquires Wells Fargo Center Near Portland, Oregon

April 28, 2022

(HILLS­BORO, OR.) – Hines, the glob­al real estate firm, today announced that Hines Glob­al Income Trust (“HGIT”) has acquired Wells Far­go Cen­ter, a 212,000-square-foot sin­gle ten­ant asset in Hills­boro, Ore­gon, just 20 min­utes from down­town Portland.

The asset is ful­ly leased to a long-term ten­ant, a finan­cial ser­vices com­pa­ny, and is sit­u­at­ed on 19 acres in the heart of Oregon’s Sil­i­con For­est,” which denotes the clus­ter of high-tech com­pa­nies in the greater Port­land area. Equidis­tant to the Intel cam­pus and Nike’s world head­quar­ters, the loca­tion­at­tracts both tech and life-sci­ence ten­ants. The site is also imme­di­ate­ly adja­cent to Ore­gon Health and Sci­ence Uni­ver­si­ty (OHSU) life sci­ence cam­pus, which has the largest life sci­ence foot­print in the state.

The asset is tran­sit-ori­ent­ed and pro­vides easy access to NE Walk­er Road, near the inter­sec­tion of NW 185th that con­nects to High­way 26 for direct access to down­town Port­land. It is walk­ing dis­tance to MAX Ligh­trail Red Line, which pro­vides easy com­mut­ing options for the center’s employees.

Wells Far­go Cen­ter sits in one of Portland’s most desir­able and robust sub­mar­kets,” said Char­lie Kuntz, man­ag­ing direc­tor at Hines. Beyond its con­ve­nient access, the site ben­e­fits from prox­im­i­ty to restau­rants and pop­u­lar retail­ers such as Tar­get, Trad­er Joe’s, and REI.”

The acqui­si­tion expands our port­fo­lio by estab­lish­ing a pres­ence in the Port­land area,” com­ment­ed Omar Thowfeek, HGIT’s man­ag­ing direc­tor of invest­ments. As the Sil­i­con For­est’ mar­ket matures, we believe the asset will be well-posi­tioned for con­tin­ued growth and demand.”

HGIT is diver­si­fied by geog­ra­phy and real estate sec­tors, with a focus on sta­ble assets with strong longterm income poten­tial. This acqui­si­tion joins a port­fo­lio that is near­ly two thirds weight­ed toward the indus­tri­al and liv­ing sec­tors and is val­ued at $2.9 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​.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 www​.hines​.com for more infor­ma­tion. ¹In­cludes both the glob­al Hines orga­ni­za­tion as well as RIA AUM as of Decem­ber 312021.

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 Sil­i­con For­est” region of Ore­gon 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.

Press Contacts
Erica Campbell

Hines
212 294 9024