as of April 30, 2021

Performance

Offering Highlights

  • $1.93B
    Total Asset Value1
  • $10.15
    Monthly NAV2
  • 95
    Buildings3
  • 42%
    Leverage Ratio4
  • 2014
    Inception Date
  • 93%
    Percent Leased5

Net Asset Value and Distribution Rate Per Share History

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

6Please see our prospectus supplement, filed with the Securities and Exchange Commission on May 14, 2021, for additional information concerning the methodology used to determine, and the limitations of, the NAV per share as of April 30, 2021. Please see our Annual Report on Form 10-K for the year ended December 31, 2020, December 31, 2019, and December 31, 2018, as well as our Current Reports on Form 8-K for additional information concerning the NAV per share determined as of prior dates.

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 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 three months ended March 31, 2021, and the years ended December 31, 2020, and 2019, respectively, Hines Global funded 67%, 60% and 42% 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 April 30, 2021

Performance Summary

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Share Class Total Returns9
1 Year 3 Year Inception to Date
Class I Shares (ZHGIIX)
11.32%
7.57%
7.89%
Class D Shares (ZHGIDX)
11.04%
7.31%
7.62%
Class S Shares (ZHGISX) - No Sales Load
10.22%
6.51%
6.82%
Class S Shares (ZHGISX) - With Sales Load
6.39%
5.24%
5.69%
Class T Shares (ZHGITX) - No Sales Load
10.22%
6.51%
6.82%
Class T Shares (ZHGITX) - With Sales Load
6.39%
5.24%
5.69%
Scroll right to view additional data.
Share Class Total Returns10
1 Year 3 Year 5 Year Inception to Date
Class AX (No Sales Load)
11.32%
7.57%
8.93%
8.48%
Class AX (With Sales Load)
N/A
N/A
6.48%
6.61%
Class TX (No Sales Load)
10.22%
6.51%
7.87%
7.82%
Class TX (With Sales Load)
N/A
N/A
6.65%
6.73%
Class IX (No Sales Load)
11.04%
7.31%
N/A
7.49%
Class IX (With Sales Load)
N/A
N/A
N/A
7.27%
as of June 1, 2021

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)
6.16%
6.16%
$10.15
Class D Shares (ZHGIDX)
5.91%13
5.91%
$10.15
Class S Shares (ZHGISX)
5.16%13
4.98%
$10.52
Class T Shares (ZHGITX)
5.16%13
4.98%
$10.52
Share Class
Based on NAV11
Class AX
6.16%
Class TX
5.16%14
Class IX
5.91%14

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.

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 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.

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.

11For the three months ended March 31, 2021, and the years ended December 31, 2020, and 2019, respectively, Hines Global funded 67%, 60% and 42% 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.

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 May 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% 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.

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.