Hines Global Income Trust Acquires $70.8 Million Asset in High-Traffic English Retail District
Hines Global Income Trust, or HGIT – a publicly registered non-traded real estate investment trust sponsored by Hines – announced its March 2025 acquisition of Junction 27, a large format retail park in Birstall, England, near the city of Leeds. This acquisition expands HGIT’s presence in a high-performing trade area and further diversifies its $4.5 billion portfolio.
The addition of Junction 27, purchased from Tritax Big Box REIT for roughly $70.8 million at the time of closing, marks HGIT’s entry into the UK retail market, highlighting its “commitment to diversification by geography and real estate sectors, while focusing on stable assets with strong long-term income and growth potential.”
According to Hines, the global real estate investment manager, the English asset is a well-configured, 100% leased retail park comprised of 13 suites with more than 131,000 square feet of net rentable space.
Its position in the Birstall cluster, one of the UK’s premier retail districts along the M62 motorway, benefits from connectivity to the major populations of both Leeds and Bradford. Supported by strong demographics and an IKEA shadow anchor, the property has benefitted from robust sales, high foot traffic and long-term tenants, including electronics retailer Currys Group Ltd. and home furnishings store ScS Group plc.
“Real estate has remained resilient, offering reliable cash flow and strategic openings to leverage evolving market dynamics,” said Alfonso Munk, president and chief investment officer of HGIT. “Good buying opportunities are expected to persist, but not all retail is created equal. Having local expertise and being selective are essential, so assets in key locations and specific retail subtypes, such as Junction 27, are particularly appealing.”
According to Hines Research, the global retail sector has a significant percentage of markets in some phase of the ‘buy’ cycle. Dominant larger formats, like retail parks in the UK, have seen strong occupier demand and a limited development pipeline. With its global mandate, HGIT said it seeks compelling real estate investment opportunities wherever they arise.
The REIT kicked off the year by announcing another acquisition east of the Atlantic. It purchased Tortona Logistics, an industrial property in Tortona, Italy, for approximately $144 million. The December 2024 purchase included three assets with proximity to Milan, Turin, and the port of Genoa. Two of the three were newly built and 100% leased, while the third was a forward purchase with acquisition planned upon completion in 2025.
Later, just last month according to AltsWire reporting, HGIT finalized a $1.35 billion credit agreement with JPMorgan Chase Bank N.A. The agreement provides the REIT with significant financial flexibility through a combination of a $650 million revolving credit facility and a $700 million term loan. The facility matures in March 2028, with options for two one-year extensions and replaced the company’s previous credit agreement with Chase.
