Hines Global Income Trust Acquires Houston Property, Passes $5B in Gross Asset Value
Hines Global Income Trust Inc., or HGIT, a publicly registered non-traded real estate investment trust sponsored by Hines, declared a net asset value per share for its Class T, Class S, Class D, Class I, Class AX, and Class JX shares of common stock, as of July 31, 2025.
The REIT’s NAV per share was $9.79, an approximate 0.51% decrease from the previous month’s $9.84. Shares were originally priced at $10.00 each.
The NAV per share is based on the estimated value of the company’s assets, less the estimated value of its liabilities divided by the number of outstanding shares. Altus Group U.S. Inc., a third-party firm, assisted with the valuation process.
The number of shares outstanding increased from 281.5 million in June to 284.3 million in July. As of July 31, the company’s NAV was approximately $2.78 billion, compared with approximately $2.77 billion as of June 2024, an increase of 0.456%.
HGIT’s consolidated balance sheet as of the end of July included a liability of $49.8 million related to distribution and stockholder servicing fees payable to Hines Private Wealth Solutions LLC, the dealer manager, in future periods with respect to shares of its common stock.
The company reported acquiring a retail property located in Houston last month. Montrose Collective is comprised of approximately 189,212 square feet of net rentable area that is currently 100% leased. The contract purchase price of Montrose Collective was approximately $137.5 million, exclusive of transaction costs and closing prorations.
As of July 31, 2025, the company owned interests in 50 real properties that were 96% leased and consisted of 23.4 million square feet of leasable space, based on information as of June 30, 2025, but reflecting the acquisition of the Montrose Collective. The portfolio was 31% levered based on real property valuations.
The REIT also reported that its regular monthly distributions for the month of July at the gross distribution rate of $0.052 for each class of its common stock. Distributions will be paid to stockholders of record as of the last business day of July 2025 and were paid on Aug. 1.
Earlier this month, Hines announced that the REIT had passed $5 billion in gross asset value, “demonstrating its enthusiasm for buying opportunities in today’s market.” HGIT seeks to identify stable assets with strong long-term income and growth potential. Its portfolio is two-thirds-weighted to the industrial and living sectors, and is 69% domestic United States, and 31% international, based on value.
“The recent acquisitions continue to showcase Hines Global Income Trust’s ability to capitalize on opportunities across markets,” said Alfonso Munk, president of HGIT and co-head of investment management at Hines. “We are thrilled at the topping of $5 billion in the portfolio and will continue to look for high quality investments to provide returns on behalf of our investors.”
The REIT was originally launched in June 2021. As of June 30, 2025, it had received aggregate gross offering proceeds of $3.8 billion from the sale of 359.9 million shares through its public offerings, including shares issued pursuant to its distribution reinvestment plan.
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