Davis Achieves Milestone with $267M Portfolio Sale to Hines

Davis Companies, a Boston-based real estate firm, has successfully sold a 2.5 million square foot industrial portfolio to Hines Global Income Trust (HGIT) for $267.2 million. The portfolio comprises four industrial properties located in Savannah, Georgia, and Wilmington, Massachusetts. The transaction underscores Davis’s focus on high-demand markets and its ability to develop and reposition high-performing assets. Notably, the Savannah properties were part of the Georgia International Trade Center, a large industrial park developed in partnership with Stonemont Financial Group. Hines, a leading global investment manager with extensive industrial holdings in the U.S., acquired these assets as part of its strategic expansion, further strengthening its portfolio. The properties are well-located near major transportation hubs, thereby enhancing their strategic significance for logistics and distribution operations. In Wilmington, the Upton Crossing facilities were 81% leased at the time of sale, hosting prominent tenants like Zoll Medical Corp.