Hines Global Income Trust Acquires the Advanced Manufacturing Portfolio

(SAN­TA CLARA, CA) – Hines, the inter­na­tion­al real estate firm, announced today that Hines Glob­al Income Trust, Inc. (“Hines Glob­al”) has acquired the Advanced Man­u­fac­tur­ing Port­fo­lio (“AMP”), a 417,000-square-foot indus­tri­al and man­u­fac­tur­ing cam­pus, in San­ta Clara, California.

The AMP is cur­rent­ly 100% leased to 10 ten­ants and pro­vides a com­bi­na­tion of light man­u­fac­tur­ing and research and devel­op­ment (“R&D”) space. The four-build­ing cam­pus pro­vides mis­sion-crit­i­cal space for ten­ants with busi­ness in the tech­nol­o­gy indus­try. The strate­gic loca­tion in the heart of Sil­i­con Val­ley pro­vides prox­im­i­ty to major tech­nol­o­gy ten­ants, as well as the pre­mier high-tech tal­ent pool.

The trans­ac­tion increas­es Hines Glob­al’s indus­tri­al pres­ence world­wide. ​“We’re excit­ed to fur­ther diver­si­fy our glob­al port­fo­lio and pro­vide our investors with expo­sure to a well-locat­ed, strate­gic asset in the dynam­ic Sil­i­con Val­ley mar­ket,” said Jan­ice Walk­er, Chief Oper­at­ing Offi­cer of Hines Glob­al Income Trust. ​“This is our third indus­tri­al and logis­tics clos­ing in the past 90 days, and we con­tin­ue to active­ly seek oppor­tu­ni­ties in the space.”

Demand for this type of space in Sil­i­con Val­ley has con­tin­ued to grow in recent years, while avail­abil­i­ty has simul­ta­ne­ous­ly dimin­ished. ​“We believe in the long-term supply/​demand fun­da­men­tals of this prod­uct type, which have proven to be resilient to the eco­nom­ic down­turn,” said Sam Cheikh, man­ag­ing direc­tor in the Hines Bay Area Office.

Hines has been invest­ing and devel­op­ing in the indus­tri­al real estate sec­tor since 1957 with a glob­al track record of 314 projects in 12 coun­tries. Glob­al­ly, the firm has acquired 38 mil­lion square feet of space and devel­oped 45 mil­lion square feet (with 8 mil­lion square feet of projects cur­rent­ly in design or under devel­op­ment) in the sector.

About Hines Global

Hines Glob­al is a pub­lic, non-list­ed real estate invest­ment trust spon­sored by Hines. It com­menced oper­a­tions in 2014 and invests in com­mer­cial real estate invest­ments locat­ed in the Unit­ed States and inter­na­tion­al­ly. For addi­tion­al infor­ma­tion about Hines Glob­al, vis­it www​.www​.hines​glob​al​in​cometrust​.com.

About Hines

Hines is a pri­vate­ly owned glob­al real estate invest­ment firm found­ed in 1957 with a pres­ence in 225 cities in 25 coun­tries. Hines has approx­i­mate­ly $144.1 bil­lion of assets under man­age­ment, includ­ing $75.5 bil­lion for which Hines serves as invest­ment man­ag­er, includ­ing non-real estate assets, and $68.6 bil­lion for which Hines pro­vides third-par­ty prop­er­ty-lev­el ser­vices. The firm has 165 devel­op­ments cur­rent­ly under­way around the world. His­tor­i­cal­ly, Hines has devel­oped, rede­vel­oped or acquired 1,426 prop­er­ties, total­ing over 472 mil­lion square feet. The firm’s cur­rent prop­er­ty and asset man­age­ment port­fo­lio includes 576 prop­er­ties, rep­re­sent­ing over 246 mil­lion square feet. With exten­sive expe­ri­ence in invest­ments across the risk spec­trum and all prop­er­ty types, and a pio­neer­ing com­mit­ment to sus­tain­abil­i­ty, Hines is one of the largest and most-respect­ed real estate orga­ni­za­tions in the world. Vis­it www​.hines​.com for more information.

For­ward-Look­ing Statements

State­ments in this press release, includ­ing inten­tions, beliefs, expec­ta­tions or pro­jec­tions relat­ing to the acqui­si­tion described here­in, are for­ward-look­ing state­ments with­in the mean­ing of Sec­tion 27A of the Secu­ri­ties Act of 1933, as amend­ed, and Sec­tion 21E of the Secu­ri­ties Exchange Act of 1934, as amend­ed. Such state­ments are based on cur­rent expec­ta­tions and assump­tions with respect to, among oth­er things, future ben­e­fits to be real­ized with respect to Hines Global’s world­wide indus­tri­al and logis­tics port­fo­lio, future eco­nom­ic, com­pet­i­tive and mar­ket con­di­tions and future busi­ness deci­sions that may prove to be incor­rect or inac­cu­rate. Impor­tant fac­tors that could cause actu­al results to dif­fer mate­ri­al­ly from those in the for­ward-look­ing state­ments include the risks asso­ci­at­ed with the ten­ants at the AMP remain­ing com­mit­ted to their lease agree­ments and con­tin­u­ing to pay rent in a time­ly man­ner, the abil­i­ty of Hines to secure addi­tion­al ten­ants at the AMP when vacan­cies arise, and oth­er risks described in the ​“Risk Fac­tors” sec­tion of Hines Glob­al’s Annu­al Report on Form 10‑K for the year end­ed Decem­ber 31, 2019, as updat­ed by its oth­er fil­ings with the Secu­ri­ties and Exchange Com­mis­sion. You are cau­tioned not to place undue reliance on any for­ward-look­ing statements.