Hines Global Income Trust’s Leader Resigns From Board; REIT Acquires SF Multifamily Property

Hines Global Income Trust Inc., a publicly registered non-traded real estate investment trust sponsored by Hines, announced recently that Alex Knapp, chief investment officer – Europe, has made the decision to resign from his position on the REIT’s board, effective Dec. 31, 2024.

Hines stated that Knapp’s decision was voluntary and not the result of any disagreement. According to the company’s website, Knapp joined Hines in 2008 and has led a wide range of commercial and residential investments across the risk spectrum during his tenure. The company did not announce who would fill his position on the board.

Similarly, the company reported that its stockholders voted in favor of the election of all seven nominees for its board of directors, including new director Diane S. Paddison and returning director Laura Hines-Pierce. Hines-Pierce previously served on the board but resigned, voluntarily and temporarily, effective as of Dec. 31, 2023.

In other company news, the REIT reported that it acquired Duboce Apartments, a residential property located in San Francisco and comprised of approximately 70,511 square feet of net rentable area. The REIT said the property is currently 97% leased, and the contract purchase price was approximately $38 million. The seller is not affiliated with the company or its affiliates.

Hines Global Income Trust has a $4.26 billion portfolio of diversified global assets as of Aug. 31, 2024, with a focus on stable assets with strong long-term income potential. The REIT recently reported that its NAV had increased slightly, returning to its previous level of $10.02. Additionally, as previously reported by AltsWire, the company fully subscribed its $77 million multifamily Delaware statutory trust offering earlier this year.

For more Hines news, please visit their directory page.