Hines Global Income Trust Acquires Liberty Station

(SAN DIEGO) – Hines, a glob­al real estate firm, announced today that Hines Glob­al Income Trust, Inc. (“Hines Glob­al”) has acquired Lib­er­ty Sta­tion, a 93% leased four-build­ing, pre­mier office cam­pus, locat­ed in the Old Town/​Point Loma sub­mar­ket of San Diego, CA. 

This low-rise, 187,000-square-foot office cam­pus is sit­u­at­ed on the water­front with­in a 360-acre mixed-use, ameni­ty-rich site with con­ve­nient access to major employ­ment nodes and the San Diego Inter­na­tion­al Air­port. The site also fea­tures over 100 walk­a­ble ameni­ties, 349 res­i­den­tial units, a golf club, retail shops and restau­rants, the Lib­er­ty Pub­lic Mar­ket and 125 acres ded­i­cat­ed to parks and recreation.

“We are excit­ed to add this niche office prod­uct in an urban, mixed-use com­mu­ni­ty with walk­a­bil­i­ty to restau­rants, retail and enter­tain­ment to our grow­ing port­fo­lio,” said Eric Hep­fer, man­ag­ing direc­tor at Hines. ​“Lib­er­ty Sta­tion is a pre­mier office cam­pus in one of San Diego’s most robust submarkets.”

Omar Thowfeek, Hines Glob­al man­ag­ing direc­tor of invest­ments added, ​“The San Diego area’s siz­able labor pool for gov­ern­ment and tech com­pa­nies com­bined with the prime loca­tion make Lib­er­ty Sta­tion a strong long-term invest­ment and sol­id addi­tion to the Hines Glob­al portfolio.”

The acqui­si­tion joins a $2.7 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.

Hines has been invest­ing and devel­op­ing in the office real estate sec­tor since 1957 with more than 540 projects in 15 coun­tries. Glob­al­ly, the firm has acquired 152 mil­lion square feet of space and devel­oped 154 mil­lion square feet (with 39 mil­lion square feet of projects cur­rent­ly in design or under devel­op­ment) in the office 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​.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 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, 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.