Hines Global Income Trust Acquires Burbank Media Studios Phase VII and VIII

(HOUS­TON) – Hines, the glob­al real estate firm, announced today that Hines Glob­al Income Trust, Inc. (“Hines Glob­al”) has acquired Bur­bank Media Stu­dios, to com­ple­ment its diver­si­fied port­fo­lio of assets. Bur­bank Media Stu­dios Phase VII and VIII con­sists of approx­i­mate­ly 30,000 square feet of stu­dio space locat­ed in Bur­bank, Cal­i­for­nia.

Locat­ed in the ​“Media Cap­i­tal of the World,” the asset is occu­pied by Madi­son Square Gar­den Enter­tain­ment through a long-term two-acre ground lease. The facil­i­ty, which is locat­ed on Empire Avenue and North Hol­ly­wood Lane, neigh­bors sev­er­al notable enter­tain­ment com­pa­nies includ­ing The Walt Dis­ney Com­pa­ny, Warn­er Broth­ers, Net­flix, Dream­works, Nick­elodeon, Car­toon Net­work, Leg­endary Pic­tures, NBC Uni­ver­sal and more.

“Hines is excit­ed to acquire Bur­bank Media Stu­dios Phase VII and VIII, because stu­dios are an attrac­tive asset to com­ple­ment our already strong pres­ence in the region,” said Varun Aku­la, man­ag­ing direc­tor, U.S. West Region at Hines. ​“Stu­dios are expe­ri­enc­ing a peri­od of rapid growth in demand, due to expand­ing enter­tain­ment invest­ment and, this acqui­si­tion is a sig­nif­i­cant cat­a­lyst for our con­tin­ued growth across the west­ern U.S.”

Omar Thowfeek, Hines Glob­al man­ag­ing direc­tor of invest­ments, added, ​“Bur­bank is one of the strongest stu­dio mar­kets in the coun­try and Bur­bank Media Stu­dios Phase VII and VIII is an excel­lent long-term invest­ment and sol­id addi­tion to the Hines Glob­al Income Trust port­fo­lio. Con­tent cre­ation led assets are an impor­tant real estate type that we will con­tin­ue to explore for future growth oppor­tu­ni­ties.”

The acqui­si­tion joins a $2.9 bil­lion port­fo­lio that is rough­ly two-thirds weight­ed toward the indus­tri­al and liv­ing sec­tors. Hines Glob­al is diver­si­fied by geog­ra­phy and real estate asset class with a focus on dynam­ic sec­tors and markets.

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​.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 255 cities in 27 coun­tries. Hines over­sees invest­ment assets under man­age­ment total­ing approx­i­mate­ly $83.6 bil­lion¹. In addi­tion, Hines pro­vides third-par­ty prop­er­ty-lev­el ser­vices to more than 367 prop­er­ties total­ing 138.3 mil­lion square feet. His­tor­i­cal­ly, Hines has devel­oped, rede­vel­oped or acquired approx­i­mate­ly 1,486 prop­er­ties, total­ing over 492 mil­lion square feet. The firm cur­rent­ly has more than 171 devel­op­ments under­way around the world. With exten­sive expe­ri­ence in invest­ments across the risk spec­trum and all prop­er­ty types, and a foun­da­tion­al com­mit­ment to ESG, Hines is one of the largest and most-respect­ed real estate orga­ni­za­tions in the world. Vis­it www​.hines​.com for more infor­ma­tion. ¹In­cludes both the glob­al Hines orga­ni­za­tion as well as RIA AUM as of June 30, 2021.

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, the poten­tial for growth in the stu­dio sec­tor and poten­tial future invest­ments in the sec­tor by Hines Glob­al, the poten­tial long-term per­for­mance of this prop­er­ty, 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 Hines being able to suc­cess­ful­ly man­age the prop­er­ty, risks asso­ci­at­ed with an eco­nom­ic down­turn in the region or the stu­dio sec­tor, 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, 2020, 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.