Hines Global Income Trust Reports $292M in Acquisitions and Completes $124.7M DST Offering

Hines Global Income Trust Inc., a publicly registered non-traded real estate investment trust sponsored by Hines, has kicked off the year by announcing two major acquisitions and the completion of a Delaware statutory trust offering affiliated with a San Jose, Calif., asset.

The company, also known as HGIT, acquired Tortona Logistics, an industrial property in Tortona, Italy, for approximately $144 million. The December 2024 purchase includes three assets with proximity to Milan, Turin, and the port of Genoa. Two of the three are newly built and 100% leased, while the third is a forward purchase with acquisition planned upon completion in 2025.

The project includes 158,503 square meters of Class A logistics with a weighted average lease term of approximately 11 years. The acquisition represents the ninth country in Hines Global Income Trust’s portfolio.

HGIT – which launched in 2014 – added E2 Apartments, a $148-million Class A multifamily complex in Evanston, Ill., that is walkable to Northwestern University. The 304,041-square-foot property, acquired in December 2024, includes 352 units and is 98% leased. The property sits three blocks from the El and Metra stations and near restaurants, coffee shops, and Whole Foods. E2 amenities include a pool deck and basketball/pickleball court.

The multifamily asset expands Hines Global Income Trust’s foothold in the Midwestern United States.

Additionally, Hines Private Wealth Solutions LLC successfully completed HREX Multifamily III DST, a $124.7-million DST, which owns Diridon West, a 249-unit luxury building. The private placement offering was launched in February 2024.

HGIT’s diversified portfolio, valued at $4.3 billion as of Nov. 30, 2024, is two-thirds-weighted to the industrial and living sectors.

“We believe Hines Global Income Trust is well positioned to take advantage of market shifts and opportunities, as demonstrated by these recent transactions,” noted Alfonso Munk, president of HGIT. “We are excited to see compelling buying opportunities present themselves and look forward to continuing to build a portfolio designed with our investors’ needs in mind.”

As previously reported by Alts Wire, as of Dec. 16, 2024, HGIT had received gross proceeds of approximately $2.1 billion from the sale of 195.6 million shares of its common stock through its current public offering, including proceeds from its distribution reinvestment plan. As of the same date, approximately $100.9 million of its common shares were available for sale pursuant to its current public offering in any combination of Class T Shares, Class S Shares, Class D Shares and Class I Shares, exclusive of approximately $291.4 million of shares available under its distribution reinvestment plan.

In October, Alex Knapp, HGIT’s chief investment officer, resigned from his position, effective at the end of 2024. Also last year, in March, the company fully subscribed its $77 million multifamily DST offering, as previously reported by Alts Wire. In late 2023, the company also completed a $152 million DST offering.

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