as of October 31, 2021

Performance

Offering Highlights

  • $2.41B
    Total Asset Value1
  • $10.43
    Monthly NAV2
  • 106
    Buildings3
  • 41%
    Leverage Ratio4
  • 2014
    Inception Date
  • 96%
    Percent Leased5

Net Asset Value and Distribution Rate Per Share History

Sep 2014 Oct 2021
Download a printable version of the Net Asset Value and Distribution Rate History.

6Please see Hines Global's prospectus supplement, filed with the Securities and Exchange Commission (the "SEC") on November 15, 2021, for additional information concerning the methodology used to determine, and the limitations of, the NAV per share as of October 31, 2021. Please see Hines Global's Annual Report on Form 10-K for the years ended December 31, 2020, December 31, 2019, and December 31, 2018, as well as Hines Global's Current Reports on Form 8-K for additional information concerning the NAV per share determined as of prior dates. NAV is calculated in accordance with the valuation policy adopted by Hines Global's board of directors. NAV is not a measure used under generally accepted accounting principles in the United States ("GAAP") and you should not consider NAV to be equivalent to stockholders' equity or any other GAAP measure. As of September 30, 2021, Hines Global's total equity under GAAP was approximately $1,094,264,000 and Hines Global's GAAP total equity per share was approximately $7.99. GAAP total equity per share is calculated as total equity divided by the aggregate number of outstanding shares issued by Hines Global. For a reconciliation of NAV to total stockholders' equity, please see the "Management's Discussion and Analysis of Financial Condition and Results of Operations" section of Hines Global's annual and quarterly reports filed with the SEC, which are available in the section of Hines Global's website titled "Resources - SEC Filings" (link at the bottom of this page). For information on how Hines Global calculates NAV, see the "Description of Capital Stock - Valuation Policy and Procedures" section of Hines Global's prospectus.

7
This 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.

8The 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 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 nine months ended September 30, 2021, and for the year ended December 31, 2020, Hines Global funded 46% and 60% of total distributions with cash flows from other sources such as cash flows from investing activities, which includes proceeds from the sale of real estate.

as of Octo­ber 312021

Performance Summary

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Share Class Total Returns9
1 Year 3 Year Inception to Date
Class I Shares (ZHGIIX)
13.97%
8.10%
8.44%
Class D Shares (ZHGIDX)
13.69%
7.83%
8.17%
Class S Shares (ZHGISX) - No Sales Load
12.89%
7.05%
7.38%
Class S Shares (ZHGISX) - With Sales Load
8.97%
5.78%
6.39%
Class T Shares (ZHGITX) - No Sales Load
12.85%
7.03%
7.37%
Class T Shares (ZHGITX) - With Sales Load
8.93%
5.77%
6.38%
Scroll right to view additional data.
Share Class Total Returns10
1 Year 3 Year 5 Year Inception to Date
Class AX (No Sales Load)
13.97%
8.10%
9.51%
8.73%
Class AX (With Sales Load)
N/A
N/A
7.39%
6.99%
Class TX (No Sales Load)
12.85%
7.03%
8.42%
8.08%
Class TX (With Sales Load)
N/A
N/A
7.53%
7.08%
Class IX (No Sales Load)
13.69%
7.83%
N/A
7.98%
Class IX (With Sales Load)
N/A
N/A
N/A
7.78%
As of Octo­ber 31, 2021 for class AX shares8,11

Historical Monthly Returns

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Year
Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec Annual/YTD
2014
0.51%
0.50%
0.51%
1.53%
2015
0.51%
0.46%
0.51%
0.50%
0.51%
0.50%
0.51%
0.51%
0.50%
0.51%
0.50%
0.51%
6.22%
2016
0.51%
0.48%
1.75%
0.50%
0.51%
0.50%
0.51%
0.52%
0.51%
0.55%
0.53%
0.55%
7.68%
2017
0.55%
0.49%
0.51%
7.42%
0.53%
0.51%
0.53%
0.53%
0.93%
0.53%
0.51%
0.53%
14.22%
2018
1.45%
0.52%
0.93%
0.52%
0.31%
1.64%
0.51%
0.51%
0.82%
0.51%
0.71%
1.92%
10.85%
2019
0.61%
0.52%
0.52%
0.32%
0.71%
0.91%
0.02%
0.61%
0.52%
1.50%
0.22%
1.79%
8.55%
2020
0.31%
0.02%
-3.40%
-0.79%
0.54%
0.64%
1.56%
0.53%
-0.39%
0.54%
1.46%
3.59%
4.55%
2021
0.32%
0.52%
0.52%
1.01%
0.81%
1.20%
0.51%
0.61%
1.09%
1.57%
8.44%

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. Broker-dealers may not offer all share classes. Total returns would be lower if calculated assuming that distributions were not reinvested.

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. As return information is calculated based on NAV, return information presented will be impacted should the assumptions on which NAV was determined prove to be incorrect. Hines Global has incurred approximately $10,962,000 and $28,374,000 in net loss for the three and nine months ended September 30, 2021, respectively.

9The 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 stockhold­er 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.

10As 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.

as of Decem­ber 12021

Net Annualized Distribution Rate

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Share Class
Based on NAV11 Based on Gross Offering Price11 Offering Price per Share12
Class I Shares (ZHGIIX)
5.99%
5.99%
$10.43
Class D Shares (ZHGIDX)
5.74%13
5.74%
$10.43
Class S Shares (ZHGISX)
5.15%13
4.97%
$10.81
Class T Shares (ZHGITX)
5.00%13
4.83%
$10.81
Share Class
Based on NAV11
Class AX
5.99%
Class TX
5.00%14
Class IX
5.74%14

11For the nine months ended September 30, 2021, and for the year ended December 31, 2020, Hines Global funded 46% and 60% of total distributions with cash flows from other sources such as cash flows from investing activities, which includes proceeds from the sale of real estate. See footnote 8 for more information.

12The 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 December 1, 2021.

13The 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% of NAV per year for Class T Shares, 0.85% of NAV per year for Class S Shares and 0.25% of NAV per year for Class D Shares. Class I Shares are sold without a distribution and stockholder servicing fee. For Class S shares, offering price and distribution rate assume a full 3.5% up front load. Please check with your broker-dealer to see the terms that apply to you.

14The 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.