Home Alts News Hines Global Income Trust Buys Remaining Buildings in Chicago Mixed-Use Campus

Hines Global Income Trust Buys Remaining Buildings in Chicago Mixed-Use Campus

Hines Global Income Trust Inc., a publicly registered non-traded real estate investment trust, has purchased the remaining three buildings of the Bradley Business Center.

Hines Global Income Trust Inc., a publicly registered non-traded real estate investment trust, has purchased the remaining three buildings of the Bradley Business Center, a mixed-use campus located in Chicago, Illinois.

The property is comprised of four buildings totaling approximately 467,000 square feet and is currently 97 percent leased to 21 tenants. The purchase price was approximately $97.3 million, excluding transaction and closing costs.

Hines Global Income Trust originally purchased the first of the four buildings in November 2021.

Last month, the REIT purchased WGN-TV Studios, a news studio building located at 2501 West Bradley Place, across the street from the Bradley Business Center.

From inception in August 2014 through May 13, 2021, Hines Global Income Trust raised approximately $1.3 billion in investor equity in its public offerings. The REIT launched its second follow-on offering at the beginning of June 2021 and has raised $402.5 million as of mid-January 2022.

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