Hines Global Income Trust NAV Declines 1.6% in September

Hines Global Income Trust Inc., a publicly registered non-traded real estate investment trust, has declared a net asset value per share for its Class T, Class S, Class D, and Class I shares of common stock, as of Sept. 30, 2023.

The REIT’s NAV per share decreased from $10.38 as of Aug. 30, 2023, to $10.19 as of Sept. 30, 2023, a 1.8% decrease. Shares were originally priced at $10.00 each.

The NAV per share is based on the estimated value of the company’s assets, less the estimated value of its liabilities divided by the number of outstanding shares. Altus Group U.S. Inc., a third-party firm, assisted with the valuation process.

The number of shares outstanding increased from 259.4 million in August to 260.0 million in September.

As of Sept. 30, 2023, the company’s NAV was approximately $2.65 billion, compared with $2.69 billion as of Aug. 31, 2023, for a decline of approximately 1.6%.

As of June 30, 2023, Hines Global Income Trust owned direct real estate investments in 39 properties totaling 16.6 million square feet that were 95% leased. The company launched its third public offering of up to $2.5 billion in shares of its common stock on June 2, 2021, through which it is offering up to $2.5 billion in shares of common stock including $500.0 million of shares offered under its distribution reinvestment plan. As of June 30, 2023, the company had received gross offering proceeds of approximately $3.0 billion from the sale of 289.1 million shares through its public offerings, including shares issued pursuant to its distribution reinvestment plan.

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