Hines Global Income Trust Acquires Airbus Defence and Space, S.A.U. Office and Industrial Complex in Madrid
c. The deal represents Hines Global Income Trust’s first investment in Spain
Madrid, 22 June 2020 – Hines, the interÂnaÂtionÂal real estate firm, is pleased to announce that Hines GlobÂal Income Trust (“Hines GlobÂal”) has acquired an office-indusÂtriÂal comÂplex in Madrid through a sale-leaseÂback transÂacÂtion with AirÂbus Defence and Space, S.A.U. Hines GlobÂal acquired the comÂplex for €29.2m.
The 43,387-square-meter facilÂiÂty is locatÂed in the CorreÂdor del Henares subÂmarÂket facÂing the A2 MotorÂway, only a five-minute driÂve from Madrid’s airÂport and 20 minÂutes from Madrid’s city cenÂtre. The comÂplex is fulÂly let with a six-year term to AirÂbus Defence and Space S.A.U. and is comÂprised of six office and indusÂtriÂal buildÂings plus two secuÂriÂty access points. The facilÂiÂty has the potenÂtial to be redeÂvelÂoped into a best-in-class last-mile logisÂtics facilÂiÂty due to its strateÂgic locaÂtion close to the Madrid AirÂport and the abilÂiÂty to reach the majorÂiÂty of Madrid’s popÂuÂlaÂtion withÂin 45 minutes.
Omar Thowfeek, Hines manÂagÂing direcÂtor-fund manÂageÂment, said: ​“Hines has over 25 years of expeÂriÂence investÂing in Spain, and we are excitÂed about acquirÂing this investÂment, which proÂvides us access to a prime locaÂtion in Madrid with upside potenÂtial. Hines GlobÂal conÂtinÂues to be a believÂer in the long-term growth prospects of last-mile logisÂtics in major EuroÂpean cities, and this opporÂtuÂniÂty is in-line with advancÂing our strategy.”
VanesÂsa GelaÂdo, senior manÂagÂing direcÂtor and Hines Spain counÂtry head, said: ​“This asset’s locaÂtion facÂing the A2 motorÂway and only five minÂutes from the BaraÂjas AdolÂfo Suarez airport’s freight terÂmiÂnal repÂreÂsents one of the best locaÂtions in Madrid for an asset of this class. Also, comÂpletÂing this acquiÂsiÂtion in such a difÂfiÂcult time shows the conÂtinÂued comÂmitÂment from Hines to the SpanÂish marÂket.” Hines GlobÂal was repÂreÂsentÂed by DLA and Knight Frank, while BNP Paribas repÂreÂsentÂed AirÂbus Defence and Space, S.A.U. in the transaction.
About Hines Global
Hines GlobÂal is a pubÂlic, non-listÂed real estate investÂment trust sponÂsored by Hines. It comÂmenced operÂaÂtions in 2014 and invests in comÂmerÂcial real estate investÂments locatÂed in the UnitÂed States and interÂnaÂtionÂalÂly. For addiÂtionÂal inforÂmaÂtion about Hines GlobÂal, visÂit www​.hinesse​cu​ri​ties​.com/​c​u​r​r​e​n​t​-​o​f​f​e​r​i​n​g​s​/hgit.
About Hines
Hines is a priÂvateÂly owned globÂal real estate investÂment firm foundÂed in 1957 with a presÂence in 205 cities in 24 counÂtries. Hines has approxÂiÂmateÂly $133.3 bilÂlion of assets under manÂageÂment, includÂing $71 bilÂlion for which Hines serves as investÂment manÂagÂer, includÂing non-real estate assets, and $62.3 bilÂlion for which Hines proÂvides third-parÂty propÂerÂty-levÂel serÂvices. The firm has 165 develÂopÂments curÂrentÂly underÂway around the world. HisÂtorÂiÂcalÂly, Hines has develÂoped, redeÂvelÂoped or acquired 1,393 propÂerÂties, totalÂing over 459 milÂlion square feet. The firm’s curÂrent propÂerÂty and asset manÂageÂment portÂfoÂlio includes 539 propÂerÂties, repÂreÂsentÂing over 232 milÂlion square feet. With extenÂsive expeÂriÂence in investÂments across the risk specÂtrum and all propÂerÂty types, and a pioÂneerÂing comÂmitÂment to susÂtainÂabilÂiÂty, Hines is one of the largest and most-respectÂed real estate orgaÂniÂzaÂtions in the world.
Since enterÂing Europe in 1991, Hines has grown its EuroÂpean platÂform to include offices in 16 cities as well as a presÂence in 47 cities in 12 counÂtries, with €18.2 bilÂlion of assets under manÂageÂment in DenÂmark, FinÂland, France, GerÂmany, Greece, IreÂland, Italy, NetherÂlands, Poland, Spain and the UnitÂed KingÂdom. VisÂit www​.hines​.com for more information.
ForÂward-LookÂing Statements
StateÂments in this press release, includÂing intenÂtions, beliefs, expecÂtaÂtions or proÂjecÂtions relatÂing to the acquiÂsiÂtion described hereÂin, are forÂward-lookÂing stateÂments withÂin the meanÂing of SecÂtion 27A of the SecuÂriÂties Act of 1933, as amendÂed, and SecÂtion 21E of the SecuÂriÂties Exchange Act of 1934, as amendÂed. Such stateÂments are based on curÂrent expecÂtaÂtions and assumpÂtions with respect to, among othÂer things, the long-term potenÂtial of the facilÂiÂty, future benÂeÂfits to be realÂized with respect to Hines Global’s last mile logisÂtics stratÂeÂgy in Europe, future ecoÂnomÂic, comÂpetÂiÂtive and marÂket conÂdiÂtions and future busiÂness deciÂsions that may prove to be incorÂrect or inacÂcuÂrate. ImporÂtant facÂtors that could cause actuÂal results to difÂfer mateÂriÂalÂly from those in the forÂward-lookÂing stateÂments include the risks assoÂciÂatÂed with Hines being able to sucÂcessÂfulÂly manÂage the facilÂiÂty, the tenÂant at the facilÂiÂty remainÂing comÂmitÂted to its lease obligÂaÂtions and conÂtinÂuÂing to pay rent in a timeÂly manÂner, and othÂer risks described in the ​“Risk FacÂtors” secÂtion of Hines GlobÂal’s AnnuÂal Report on Form 10‑K for the year endÂed DecemÂber 31, 2018, as updatÂed by its othÂer filÂings with the SecuÂriÂties and Exchange ComÂmisÂsion. You are cauÂtioned not to place undue reliance on any forÂward-lookÂing statements.
Hines
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