Hines Global Income Trust Grows Industrial Portfolio With $309 Million in East Coast Acquisitions

HGIT Leverages Market Dynamics for Strategic Growth

(HOUS­TON) – Hines, the glob­al real estate invest­ment man­ag­er, today announced that Hines Glob­al Income Trust, Inc. (“Hines Glob­al Income Trust” or ​“HGIT”) has grown its indus­tri­al pres­ence with the acqui­si­tion of three East Coast assets, including:

• A 2.5 mil­lion square foot port­fo­lio, pur­chased from The Davis Com­pa­nies (Davis), that encompasses:
  • Two 100% leased Class A dis­tri­b­u­tion facil­i­ties with­in the Geor­gia Inter­na­tion­al Trade Cen­ter, cen­tral­ly locat­ed in the high-growth mar­ket of Savannah.
  • Two 80% leased Class A warehouse/​distribution facil­i­ties with­in Upton Cross­ing, a ware­house cam­pus in Wilm­ing­ton, Massachusetts.
• I‑85 Logis­tics Cen­ter, a Class A 100% leased cross-dock dis­tri­b­u­tion facil­i­ty locat­ed in Greenville-Spar­tan­burg, South Carolina.

The Geor­gia Inter­na­tion­al Trade Cen­ter was acquired indi­rect­ly through a Delaware statu­to­ry trust (“DST”) and is part of HGIT’s DST pro­gram. These recent deals show­case HGIT’s abil­i­ty to cap­i­tal­ize on oppor­tu­ni­ties across mar­kets. With the help of Hines’ local teams, HGIT seeks to iden­ti­fy sta­ble assets with strong long-term income and growth poten­tial. Its diver­si­fied port­fo­lio, val­ued at $4.58 bil­lion as of April 30, 2025, is two-thirds-weight­ed to the indus­tri­al and liv­ing sectors.

“Hines con­tin­ues to see poten­tial in the indus­tri­al sec­tor, espe­cial­ly in high-growth mar­kets. As East Coast ports con­tin­ue to diver­si­fy, cou­pled with the ongo­ing demo­graph­ic growth in the Sun­belt, demand for strate­gi­cal­ly locat­ed indus­tri­al space remains steady,” said Alfon­so Munk, Co-Head of Invest­ment Man­age­ment at Hines. ​“Our local mar­ket exper­tise and deal sourc­ing capa­bil­i­ties allow Hines Glob­al Income Trust to be well-posi­tioned to take advan­tage of these opportunities.”

More on Geor­gia Inter­na­tion­al Trade Center

The two dis­tri­b­u­tion facil­i­ties total 2.2 mil­lion square feet and are ful­ly leased to a For­tune 50 home improve­ment retail­er and a glob­al third-par­ty logis­tics provider. The Geor­gia Inter­na­tion­al Trade Cen­ter (GITC) is a ful­ly-leased, mas­ter-planned indus­tri­al park devel­oped through a joint ven­ture of Davis and Stonemont Finan­cial Group, encom­pass­ing over 7.7 mil­lion square feet of Class A man­u­fac­tur­ing and ware­house space across ten build­ings. The site is locat­ed approx­i­mate­ly ten miles from the Port of Savan­nah, the third-largest con­tain­er port in the U.S., largest port in the Sun­belt, and fastest grow­ing port on the East Coast. The sale of the final two build­ings marks the com­ple­tion of Davis’ and Stonemont’s busi­ness plan for this mas­ter-planned park.

Savan­nah has emerged as a major East Coast dis­tri­b­u­tion hub, with the port serv­ing as a nexus for the region’s rail and road trans­porta­tion net­work. Beyond dis­tri­b­u­tion, Savan­nah also serves as a hub for man­u­fac­tur­ing, with Hyundai recent­ly deliv­er­ing a 17 mil­lion square foot, $7.6B auto plant that will bring 8,500 jobs to the area.

More on Upton Crossing

The two prop­er­ties total 215,000 square feet and are 81% leased to a glob­al third-par­ty logis­tics provider, a med­ical device com­pa­ny, and a snack food com­pa­ny. They are sit­u­at­ed with­in the new­ly built Upton Cross­ing, a warehouse/​distribution cam­pus adja­cent to I‑93 and with­in close prox­im­i­ty to I‑95, I‑495, Down­town Boston, and Logan Air­port. Since its acqui­si­tion in 2021, Davis suc­cess­ful­ly redesigned and re-per­mit­ted the site to accom­mo­date indus­tri­al dis­tri­b­u­tion build­ings. 

The North Boston mar­ket is dri­ven by dis­tri­b­u­tion to down­town Boston and the dense­ly pop­u­lat­ed north­ern sub­urbs. With lim­it­ed new devel­op­ment in Boston’s North sub­mar­kets, strong access, and lim­it­ed com­pet­i­tive sup­ply, Upton Cross­ing ben­e­fits from the demand from a diverse range of ten­ants, includ­ing dis­tri­b­u­tion and e‑commerce, mak­ing it an attrac­tive opportunity.

“For Davis, the pri­or­i­ty is always to secure good sites, build qual­i­ty build­ings, and lease to strong ten­ants. The ulti­mate reward is a sale to an own­er who val­ues the durable cash flows we cre­ate in the best-of-class build­ings we con­struct,” said David Allen, Senior Vice Pres­i­dent at The Davis Com­pa­nies. ​“We are grate­ful to our part­ners, leas­ing teams, and East­dil Cap­i­tal Mar­kets for help­ing exe­cute this sale, which we believe will be a valu­able invest­ment for Hines.”

More on I‑85 Logis­tics Center

This prop­er­ty is a 408,000 square-foot, new­ly built Class A cross-dock dis­tri­b­u­tion facil­i­ty that is 100% leased to Vertiv. The Greenville-Spar­tan­burg mar­ket offers strate­gic advan­tages for logis­tics and man­u­fac­tur­ing users, dri­ven by its prime loca­tion along the I‑85 cor­ri­dor, which pro­vides access to key Sun­belt growth mar­kets, the Greer Inland Port with a direct rail link to the Port of Charleston, and excep­tion­al logis­tics infrastructure.

I‑85 Logis­tics Cen­ter is locat­ed with­in half a mile of Vertiv’s new 215,000 square-foot man­u­fac­tur­ing facil­i­ty, and near its exist­ing R&D facil­i­ty, fur­ther estab­lish­ing their foot­print and invest­ment in the market. 

Ryan Wood and Tom Grig­gs, mem­bers of Hines’ U.S. Sun­belt and East indus­tri­al teams, led these three acquisitions. 

About Hines Glob­al Income Trust

Hines Glob­al Income Trust 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 HGIT, vis­it www​.hines​glob​al​in​cometrust​.com.

About Hines

Hines is a lead­ing glob­al real estate invest­ment man­ag­er. We own and oper­ate $90.1 bil­lion¹ of assets across prop­er­ty types and on behalf of a diverse group of insti­tu­tion­al and pri­vate wealth clients. Every day, our 5,000 employ­ees in 30 coun­tries draw on our 68-year his­to­ry to build the world for­ward by invest­ing in, devel­op­ing, and man­ag­ing some of the world’s best real estate. To learn more, vis­it www​.hines​.com and fol­low @Hines on social media.

¹In­cludes both the glob­al Hines orga­ni­za­tion and RIA AUM as of Decem­ber 31, 2024.

About Davis

Davis is a ver­ti­cal­ly inte­grat­ed real estate invest­ment, devel­op­ment and man­age­ment firm that lever­ages five decades of expe­ri­ence, the strength of its lead­er­ship team and employ­ees and a diver­si­fied port­fo­lio to deliv­er max­i­mum val­ue for its investors and ten­ants. Head­quar­tered in Boston and invest­ing across the Unit­ed States, Davis prides itself on tak­ing a nim­ble, col­lab­o­ra­tive approach to deliv­er­ing best-in-class results from com­plex oppor­tu­ni­ties. Since incep­tion, Davis has invest­ed in $13.2 bil­lion in gross asset val­ue through real estate equi­ty, debt and fixed-income secu­ri­ties, Davis today owns a real estate port­fo­lio of approx­i­mate­ly 15.4 mil­lion square feet of health­care and life sci­ence, indus­tri­al, retail, office and hos­pi­tal­i­ty prop­er­ties and more than 5,600 res­i­den­tial units across the Unit­ed States. For fur­ther infor­ma­tion, vis­it www​.the​davis​com​pa​nies​.com.

For­ward Look­ing Statements

State­ments in this press release, includ­ing inten­tions, beliefs, expec­ta­tions or pro­jec­tions relat­ing to the acqui­si­tion described here­in and HGIT’s abil­i­ty to con­tin­ue to build its invest­ment port­fo­lio in a man­ner that meets its invest­ment objec­tives, 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 long-term per­for­mance of these prop­er­ties, future eco­nom­ic, com­pet­i­tive and mar­ket con­di­tions, the avail­abil­i­ty of addi­tion­al buy­ing oppor­tu­ni­ties for HGIT, 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 these prop­er­ties, risks asso­ci­at­ed with an eco­nom­ic down­turn in the regions or the indus­tri­al sec­tor, and oth­er risks described in the ​“Risk Fac­tors” sec­tion of HGIT’s Annu­al Report on Form 10 K for the year end­ed Decem­ber 31, 2024, 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.

No Offer of Secu­ri­ties

This press release shall not be deemed an offer to sell, or a solic­i­ta­tion of an offer to pur­chase, any secu­ri­ties. No one can invest direct­ly in HGIT’s DST program.