Hines Global Income Trust Inc., a publicly registered non-traded real estate investment trust, has purchased Maintal Logistics, a portfolio of three industrial buildings located outside of Frankfurt, Germany, for approximately $44.6 million (€39.1 million assuming a rate of $1.14 per EUR as of the acquisition date), exclusive of transaction costs and closing prorations.
Maintal Logistics totals approximately 386,000 square feet and is 96 percent leased to three tenants. The sellers, Gutperle + Harder GmbH and Gutperle and Harder GdbR, are not affiliated with Hines Global or its affiliates.
Hines Global Income Trust, which invests in commercial real estate properties and other real estate investments throughout the United States and internationally, launched its initial public offering in August 2014. As of January 16, 2019, the company raised $477.5 million through its public offerings, including shares issued through its distribution reinvestment plan. The REIT owns a portfolio of nine properties with a total acquisition cost of approximately $742.5 million as of the third quarter of 2018.