as of August 31, 2020

Performance

Offering Highlights

  • $1.64B
    Total Asset Value1
  • $9.82
    Monthly NAV2
  • 92
    Buildings3
  • 39%
    Leverage Ratio
  • 2014
    Inception Date
  • 95%
    Percent Leased4

Net Asset Value and Distribution Rate History

Sep 2014 Aug 2020
Download a printable version of the Net Asset Value and Distribution Rate History.

5Please see our prospec­tus sup­ple­ment, filed with the Secu­ri­ties and Exchange Com­mis­sion on September 16, 2020, for addi­tion­al infor­ma­tion con­cern­ing the method­ol­o­gy used to deter­mine, and the lim­i­ta­tions of, the NAV per share as of August 31, 2020. Please see our Annu­al Report on Form 10‑K for the year end­ed Decem­ber 31, 2019, Decem­ber 31, 2018, and Decem­ber 31, 2017, as well as our Cur­rent Reports on Form 8‑K for addi­tion­al infor­ma­tion con­cern­ing the NAV per share deter­mined as of pri­or dates.

6This fig­ure was not deter­mined based on an inde­pen­dent appraisal of Hines Global’s assets. Rather, it rep­re­sents the ​“net invest­ment val­ue,” which was equal to the $10.00 per share offer­ing price in effect at that time, as arbi­trar­i­ly deter­mined by Hines Global’s board of direc­tors, net of the applic­a­ble sell­ing com­mis­sions, deal­er man­ag­er fees and issuer costs.

7The gross annu­al­ized dis­tri­b­u­tion rate is cal­cu­lat­ed as the gross dis­tri­b­u­tion rate declared for the applic­a­ble month mul­ti­plied by 12, and assumes the rate is main­tained for one year. The tim­ing and amount of dis­tri­b­u­tions will be deter­mined by Hines Global’s board of direc­tors, in its dis­cre­tion, and may vary from time to time. Dis­tri­b­u­tions can­not be guar­an­teed. Hines Glob­al has not gen­er­at­ed and may con­tin­ue to be unable to gen­er­ate suf­fi­cient cash flows from oper­a­tions to ful­ly fund dis­tri­b­u­tions paid. There­fore, some or all of Hines Global’s dis­tri­b­u­tions have been and may con­tin­ue to be paid and dur­ing the offer­ing phase, are like­ly to be paid at least par­tial­ly from oth­er sources, such as pro­ceeds from the sales of assets, pro­ceeds from debt financ­ings, pro­ceeds from Hines Global’s pub­lic offer­ings, cash advances by advi­sor and/​or cash result­ing from a waiv­er or defer­ral of fees. Hines Glob­al has not placed a cap on the amount of dis­tri­b­u­tions that may be paid from any of these sources. The use of sources oth­er than cash flows from oper­a­tions to fund dis­tri­b­u­tions could low­er returns. For the six months ended June 30, 2020, and for the years ended December 31, 2019 and 2018, respectively, Hines Global funded 100%, 42% and 32% of total distributions with cash flows from other sources such as cash flows from investing activities, which may include proceeds from the sale of real estate and/or cash flows from financing activities, which may include offering proceeds.

as of August 31, 2020

Performance Summary

Share Class Total Returns8
1 Year Inception to Date
Class I Shares (ZHGIIX)
3.38%
6.92%
Class D Shares (ZHGIDX)
3.13%
6.65%
Class S Shares (ZHGISX) - No Sales Load
2.36%
5.86%
Class S Shares (ZHGISX) - With Sales Load
-1.26%
4.46%
Class T Shares (ZHGITX) - No Sales Load
2.36%
5.86%
Class T (ZHGITX) - With Sales Load
-1.26%
4.46%
Scroll right to view additional data.
Share Class Total Returns9
1 Year 3 Year 5 Year Inception to Date
Class AX (No Sales Load)
3.38%
7.01%
8.45%
8.10%
Class AX (With Sales Load)
N/A
3.58%
6.00%
6.03%
Class TX (No Sales Load)
2.36%
5.95%
N/A
7.43%
Class TX (With Sales Load)
N/A
4.49%
N/A
6.20%
Class IX (No Sales Load)
3.13%
6.75%
N/A
6.69%
Class IX (With Sales Load)
N/A
6.45%
N/A
6.43%
as of October 1, 2020

Net Annualized Distribution Rate

Scroll right to view additional data.
Share Class
Based on NAV10 Based on Gross Offering Price10 Offering Price per Share11
Class I Shares (ZHGIIX)
6.36%
6.36%
$9.82
Class D Shares (ZHGIDX)
6.11%12
6.11%
$9.82
Class S Shares (ZHGISX)
5.36%12
5.17%
$10.18
Class T Shares (ZHGITX)
5.36%12
5.17%
$10.18
Share Class
Based on NAV10
Class AX
6.36%
Class TX
5.36%13
Class IX
6.11%13

The total returns shown reflect the per­cent change in the NAV per share from the begin­ning of the peri­od, plus the amount of any dis­tri­b­u­tion per share declared dur­ing the peri­od. The total returns shown are cal­cu­lat­ed assum­ing rein­vest­ment of dis­tri­b­u­tions pur­suant to Hines Global’s DRP, are derived from unau­dit­ed finan­cial infor­ma­tion and are net of all Hines Glob­al expens­es, includ­ing gen­er­al and admin­is­tra­tive expens­es, trans­ac­tion relat­ed expens­es, man­age­ment fees, the per­for­mance par­tic­i­pa­tion allo­ca­tion, and share class spe­cif­ic fees, but exclude the impact of ear­ly redemp­tion deduc­tions on the redemp­tion of shares that have been out­stand­ing for less than one year. Past per­for­mance is his­tor­i­cal and not a guar­an­tee of future results.

The returns have been pre­pared using unau­dit­ed data and val­u­a­tions of the under­ly­ing invest­ments in Hines Global’s port­fo­lio, which are esti­mates of fair val­ue and form the basis for Hines Glob­al’s NAV per share. Val­u­a­tions based upon unau­dit­ed reports from the under­ly­ing invest­ments may be sub­ject to lat­er adjust­ments, may not cor­re­spond to real­ized val­ue and may not accu­rate­ly reflect the price at which assets could be liquidated.

8The incep­tion date for Class I, Class D, Class S and Class T Shares is Decem­ber 6, 2017. Since Hines Glob­al clos­es month­ly, an investor that sub­mit­ted a sub­scrip­tion agree­ment in the month of Decem­ber would not have been admit­ted as a share­hold­er until the pur­chase occurred on Jan­u­ary 1, 2018. Class I Shares and Class D Shares are sold with­out an upfront sales load. Class T Shares and Class S Shares list­ed as (With Sales Load) reflect the returns after the max­i­mum up-front sell­ing com­mis­sion and deal­er man­ag­er fees, which total 3.5% for both share class­es. Class T Shares and Class S Shares list­ed as (No Sales Load) exclude up-front sell­ing com­mis­sions and deal­er man­ag­er fees.

9As of Sep­tem­ber 30, 2019, returns are annu­al­ized uti­liz­ing a com­pound­ing method con­sis­tent with the IPA Prac­tice Guide­line 2018, as report­ed in the new­ly pub­lished IPA/​Stanger Mon­i­tor (ini­tial issuance in Q1 2019). Pre­vi­ous­ly, returns were annu­al­ized by mul­ti­ply­ing the total incep­tion to date (ITD) return (cal­cu­lat­ed as described above) by 12 months, divid­ed by the num­ber of months since the respec­tive incep­tion date for the applic­a­ble share class. The incep­tion dates for the Class AX Shares, Class TX Shares, and Class IX Shares are Octo­ber 1, 2014, Sep­tem­ber 1, 2015, and May 1, 2017, respec­tive­ly. Hines Glob­al is not offer­ing these shares in its cur­rent offer­ing, but such shares were issued in Hines Global’s ini­tial pub­lic offer­ing. The annu­al­ized total return with sales load was cal­cu­lat­ed assum­ing the max­i­mum up-front sell­ing com­mis­sions and deal­er man­ag­er fees, as well as the orga­ni­za­tion and offer­ing expens­es attrib­ut­able to Class AX Shares, Class TX Shares and Class IX Shares of 10.8%, 5.6% and 0.8%, respec­tive­ly (each as a per­cent­age of offer­ing price). There is no guar­an­tee that an invest­ment in the shares being offered in the fol­low-on offer­ing will result in sim­i­lar returns to those of pre­vi­ous­ly offered share classes.

10For the six months ended June 30, 2020, and for the years ended December 31, 2019 and 2018, respectively, Hines Global funded 100%, 42% and 32% of total distributions with cash flows from other sources such as cash flows from investing activities, which may include proceeds from the sale of real estate and/or cash flows from financing activities, which may include offering proceeds.

11The offering prices per share are equal to the transaction price plus applicable up-front selling commissions and dealer manager fees, which reduce the amount available for investment. The offering prices presented above are effective for subscriptions for the classes of Hines Global’s common stock presently being offered that will be accepted as of October 1, 2020.

12The distribution and stockholder servicing fees payable with respect to these shares will reduce the amount of funds available for distribution with respect to such shares (including all such shares issued pursuant to Hines Global’s DRP). Further, because the distribution and stockholder servicing fees payable with respect to Class T Shares and Class S Shares are higher than those payable with respect to Class D Shares distributions with respect to Class T Shares and Class S Shares will be lower than distributions with respect to Class D Shares. Distribution and stockholder servicing fees are 1.0% for both Class T and Class S Shares and 0.25% for Class D Shares. Class I Shares are sold without a distribution and stockholder servicing fee.

13 The distribution and stockholder servicing fees payable with respect to these shares will reduce the amount of funds available for distribution with respect to such shares (including all such shares issued pursuant to Hines Global’s DRP). Further, because the distribution and stockholder servicing fees payable with respect to Class TX Shares is higher than those payable with respect to Class IX Shares, distributions with respect to Class TX Shares will be lower than distributions with respect to Class IX Shares. No distribution and stockholder servicing fees are payable with respect to Class AX Shares.