Hines Global Income Trust Inc., a publicly registered non-traded real estate investment trust, has amended its dealer-manager agreement with Hines Securities to reduce the distribution and stockholder servicing fee associated with Class S shares.
The distribution and stockholder servicing fee was reduced from 1.0 percent to 0.85 percent per year of the aggregate net asset value of Class S shares.
Aside from this change, the terms of the amended dealer manager agreement are otherwise the same.
The dealer manager will continue to receive an annual 1.0 percent distribution and stockholder servicing fee for Class T shares and a 0.25 percent fee for Class D shares. There is no fee for Class I shares.
The REIT will stop paying the distribution and stockholder servicing fee when total upfront selling commissions, dealer manager fees and the distribution and stockholder servicing fees reach 8.75 percent.
As reported by The DI Wire last month, the REIT’s NAV per share was $10.25 as of July 31, 2021, unchanged from June.
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 $78.9 million as of August 17, 2021. The REIT’s real estate investments totaled $2.33 billion as of July 31, 2021.