Hines Global Income Trust Sells Colorado Retail Center for $150.7M, Reports $3B NAV
Hines Global Income Trust Inc., or HGIT, a publicly registered non-traded real estate investment trust sponsored by Hines, completed the sale of its Briargate property for a contract price of $150.7 million.
Previously reported by AltsWire, the company purchased The Promenade Shops at Briargate, a 236,500-square-foot outdoor retail center located in Colorado Springs, Colo., for $93.2 million in September 2019.
As of the end of February, HGIT held interests in 54 real properties totaling 24.2 million square feet. The portfolio had a 96% occupancy rate and a 32% leverage ratio based on current property valuations.
Recent acquisitions that continue to anchor the portfolio include: Left Bank, a Class A multifamily tower in Chicago, purchased for $151 million; and Worship Square, an office property in London acquired for $206.7 million. Both were purchased in November 2025. Also, Clay Terrace, a retail center near Indianapolis, was acquired in December 2025 for $203 million.
HGIT’s net asset value per share remained steady at $9.82 across all share classes as of February 28, 2026. The February NAV serves as the April 1 transaction price for HGIT’s distribution reinvestment plan and share redemption program. The total NAV for the company was nearly $3 billion as of the end of February, a 1.2% increase from the approximately $2.96 billion recorded as of Jan. 31.
Key components of the valuation included real estate investments valued at $6.22 billion and debt and other liabilities at approximately $3.69 billion. The REIT had approximately 305.6 million shares outstanding as of Feb. 28.
The company’s consolidated balance sheet included a liability of $49.4 million related to distribution and stockholder servicing fees payable to Hines Private Wealth Solutions LLC, its dealer manager, in future periods with respect to shares of its common stock.
The REIT’s board authorized monthly distributions for March 2026, payable on the first business day of April. The net distributions per share, after accounting for class-specific stockholder servicing fees, are as follows: Class I, AX, and JX: $0.052; Class D: $0.050; Class S: $0.045; and Class T: $0.044.
HGIT noted that while it currently funds distributions through its operations, some or all of these distributions may be sourced from sources other than operations if necessary.
The company utilizes a discounted cash flow analysis to determine its NAV, with exit capitalization rates and discount rates varied by property type to reflect current market conditions. As of Feb. 28, 2026, the weighted-average exit capitalization rate for the portfolio was 5.84%, with a weighted-average discount rate of 7.3%.
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