Hines Acquires Key Properties to Expand Global Portfolio
Deal News | Jan 15, 2025 | Hines Interests LP
Hines, a leading global real estate investment manager, recently announced significant investments made through its Hines Global Income Trust (HGIT), totaling $292 million across multiple acquisitions. The Trust has further diversified its portfolio by acquiring Tortona Logistics, an industrial property in Northern Italy, and E2 Apartments, a multifamily complex in Illinois, U.S. These acquisitions mark Hines' entry into its ninth country and strengthen its industrial and living sectors' positions in Europe and North America. Hines Private Wealth Solutions also completed a $124.7 million Delaware Statutory Trust (DST) offering designed for wealth planning, underpinning Hines' strategy of capitalizing on stable assets with long-term potential. Guided by local teams, HGIT’s portfolio, valued at $4.3 billion, is focused on acquiring institutional-quality properties that bolster its market position. The Trust operates with the aim of leveraging shifts in market dynamics, as expressed by Alfonso Munk, HGIT's President.
Sectors
- Real Estate Investment Trusts (REITs)
- Industrial and Multifamily Real Estate
Geography
- United States – The acquisitions and business activities by Hines Global Income Trust include operations in Illinois and California.
- Italy – Hines expanded its presence in Europe with the acquisition of an industrial property in Tortona, Italy.
Industry
- Real Estate Investment Trusts (REITs) – The article discusses activities by Hines Global Income Trust (HGIT), a real estate investment trust, involving acquisitions of properties and DST offerings.
- Industrial and Multifamily Real Estate – Hines' recent acquisitions in the industrial sector in Italy and the multifamily sector in Illinois highlight their focus on these real estate sectors.
Financials
- $292 million – Total acquisitions made by HGIT including properties in Italy and the U.S.
- $124.7 million – Value of the Delaware Statutory Trust (DST) offering completed by Hines.
- $4.3 billion – Total portfolio value of HGIT as of November 30, 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Hines Interests LP | Parent Company | Company | Hines is a global real estate investment manager owning and operating assets across various property types for institutional and private wealth clients. |
| Hines Global Income Trust (HGIT) | Acquirer & Investor | Company | A public, non-listed REIT sponsored by Hines, involved in acquiring commercial real estate internationally. |
| Hines Private Wealth Solutions LLC | Seller | Company | The entity managing the DST offerings made available to investors, facilitating wealth planning solutions. |
| Tortona Logistics | Acquired Property | Property | An industrial property located in Tortona, Italy, purchased by HGIT to expand their global reach. |
| E2 Apartments | Acquired Property | Property | A multifamily residential complex located in Evanston, Illinois, acquired by HGIT. |
| Diridon West | Asset in DST | Property | A Class A multifamily property located in San Jose, California, used in Hines' DST offering. |