Quarterly Update Test

Highlights

Portfolio Activity

Hines Glob­al Income Trust con­tin­ues to exe­cute a dis­ci­plined invest­ment strat­e­gy focused on enhanc­ing a diver­si­fied port­fo­lio of assets through cap­i­tal recy­cling and thought­ful acqui­si­tions.1 By strate­gi­cal­ly real­iz­ing val­ue from mature invest­ments and rede­ploy­ing cap­i­tal into high-con­vic­tion oppor­tu­ni­ties, the goal is to strength­en income dura­bil­i­ty and sup­port attrac­tive risk-adjust­ed returns.

Recent trans­ac­tions reflect this approach in action. The sale of Prom­e­nade Shops at Bri­ar­gate demon­strat­ed an abil­i­ty to unlock val­ue through active asset man­age­ment before cap­i­tal­iz­ing on sig­nif­i­cant buy­er inter­est, while the acqui­si­tions of Wick­er Park Com­mons in Chica­go and Junc­tion One near Liv­er­pool expand­ed the port­fo­lio with well-locat­ed retail assets sup­port­ed by a deep con­sumer catch­ment, attrac­tive mar­ket fun­da­men­tals and future income potential.

Across Hines Glob­al Income Trust, occu­pan­cy remained strong at 95% with a 5.7‑year weight­ed aver­age lease term. The port­fo­lio also main­tained a con­ser­v­a­tive 30% lever­age ratio, with 94% of debt fixed or capped, pro­vid­ing finan­cial flex­i­bil­i­ty and an attrac­tive debt matu­ri­ty pro­file to sup­port ongo­ing invest­ment activ­i­ty.2,3,4

Navigating the Market

The glob­al econ­o­my is being reshaped by four struc­tur­al forces: AI and tech­nol­o­gy, ener­gy tran­si­tion, secu­ri­ty and sup­ply chain realign­ment and demo­graph­ic change, all of which are dri­ving sus­tained demand for real estate and infra­struc­ture. At the same time, sup­ply con­straints such as labor short­ages, lengthy per­mit­ting and ris­ing con­struc­tion costs are lim­it­ing new devel­op­ment, sup­port­ing stronger pric­ing pow­er and long-term val­ue for well-locat­ed assets. This dynam­ic cre­ates com­pelling oppor­tu­ni­ties for real estate investors to ben­e­fit from last­ing occu­pi­er and con­sumer needs, con­strained sup­ply and the poten­tial for long-term income and appreciation.

Looking Ahead

The focus remains on dri­ving per­for­mance through oper­a­tional improve­ments, strate­gic invest­ment and selec­tive dis­po­si­tions that opti­mize port­fo­lio per­for­mance. We con­tin­ue to see an attrac­tive invest­ment envi­ron­ment and believe our inte­grat­ed plat­form and local mar­ket exper­tise posi­tion us to iden­ti­fy com­pelling oppor­tu­ni­ties across glob­al real estate while striv­ing to deliv­er con­sis­tent dis­tri­b­u­tions to investors.5

Recent Activity 

Hines Glob­al Income Trust remains focused on exe­cut­ing asset-lev­el busi­ness plans that enhance oper­at­ing per­for­mance and sup­port durable income. Through dis­ci­plined port­fo­lio over­sight and local mar­ket exe­cu­tion, we con­tin­ue to posi­tion the port­fo­lio to cap­i­tal­ize on evolv­ing mar­ket oppor­tu­ni­ties as evi­denced by its lat­est activ­i­ty in the retail sector. 

Acquisitions 

Wicker Park Commons | Chicago, IL6

183,000 SF; 99% leased2Acquired on June 23, 2026

This pre­mier urban retail cen­ter is a gro­cery- and home improve­ment-anchored shop­ping des­ti­na­tion in Chicago’s Wick­er Park neigh­bor­hood. It serves a dense, afflu­ent cus­tomer base and offers long-term val­ue through ten­ant enhance­ment and mixed-use rede­vel­op­ment potential. 

Junction One | Liverpool, UK6

190,874 SF; 95% leased2Acquired on May 15, 2026

A promi­nent open-air, dual gro­cery-anchored retail cen­ter, Junc­tion One is locat­ed on the Wirral Penin­su­la, just five miles from Liverpool’s city cen­ter. It ben­e­fits from a strong pool of over 2 mil­lion peo­ple with­in a 30-minute dri­ve, a mar­ket-lead­ing ten­ant mix and excel­lent trans­port links with lim­it­ed direct competition. 

Disposition 

Promenade Shops at Briargate | Colorado Springs, CO 

Pur­chase Price: $93.2MSales Price: $150.7MSold on Feb­ru­ary 17, 2026

After acquir­ing Prom­e­nade Shops at Bri­ar­gate in 2019, Hines Glob­al Income Trust enhanced the retail prop­er­ty’s per­for­mance through active asset man­age­ment and strate­gic leas­ing ini­tia­tives. The asset was sold amid strong investor demand for qual­i­ty retail, demon­strat­ing the ben­e­fits of dis­ci­plined own­er­ship and cap­i­tal recycling. 

View Paper

VIEW ALL INSIGHTS 

Dis­claimer

1 Diver­si­fi­ca­tion does not guar­an­tee a prof­it or elim­i­nate the risk of loss. 

2 The occu­pan­cy, square footage and weight­ed aver­age lease term are based on data as of March 31, 2026, but reflect the effect of the acqui­si­tions of Junc­tion One in May and Wick­er Park Com­mons in June. 

3 Approx­i­mate­ly 94% of our total debt out­stand­ing as of March 31, 2026 has fixed inter­est rates or has been fixed through the use of inter­est contracts. 

4 As of June 30, 2026. 

5 Dis­tri­b­u­tions are not guar­an­teed and may vary. The gross annu­al­ized dis­tri­b­u­tion rate is cal­cu­lat­ed as the gross dis­tri­b­u­tion rate declared for the applic­a­ble month mul­ti­plied by 12, and assumes the rate is main­tained for one year. The tim­ing and amount of dis­tri­b­u­tions will be deter­mined by Hines Global’s board of direc­tors, in its dis­cre­tion, and may vary from time to time. Dis­tri­b­u­tions can­not be ensured. Dis­tri­b­u­tions have exceed­ed net income under U.S. GAAP. If Hines Glob­al pays dis­tri­b­u­tions from sources oth­er than cash flow from oper­a­tions, Hines Glob­al will have less funds avail­able for the acqui­si­tion of prop­er­ties, and stock­hold­er’s over­all return may be reduced. For the three months end­ed March 31, 2026, 54% of dis­tri­b­u­tions declared were rein­vest­ed in shares pur­suant to our dis­tri­b­u­tion rein­vest­ment plan and 46% were fund­ed using cash flows from sources oth­er than oper­at­ing activ­i­ties, which may include cash flows from invest­ing activ­i­ties, such as pro­ceeds from the sale of assets or cash flows from financ­ing activ­i­ties, such as pro­ceeds from debt financ­ings. For the year end­ed Decem­ber 31, 2025, 54% of dis­tri­b­u­tions declared were rein­vest­ed in shares pur­suant to our dis­tri­b­u­tion rein­vest­ment plan, 32% were fund­ed with cash flows from oper­at­ing activ­i­ties and 14% were fund­ed using cash flows from sources oth­er than oper­at­ing activ­i­ties, which may include cash flows from invest­ing activ­i­ties, such as pro­ceeds from the sale of assets or cash flows from financ­ing activ­i­ties, such as pro­ceeds from debt financings. 

6 Hines Global’s port­fo­lio includes, from time to time, cer­tain prop­er­ties that are part of Hines Global’s Delaware Statu­to­ry Trust (“DST”) pro­gram. See Hines Global’s prospec­tus for more information.