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Hines Global Income Trust Registers $2 Billion Follow-On Offering

Hines Global Income Trust Inc., a publicly registered non-traded real estate investment trust, has registered a $2 billion follow-on offering.

Hines Global Income Trust Inc., a publicly registered non-traded real estate investment trust, has registered a $2 billion follow-on offering with the Securities and Exchange Commission. Once declared effective, this will be Hines Global Income Trust’s third public offering.

From inception in August 2014 through November 30, 2020, the REIT raised $1.1 billion in investor equity in its public offerings.

According to the preliminary prospectus, the REIT plans to invest in a diversified portfolio of commercial real estate properties and other real estate investments throughout the United States and internationally.

The company plans to offer four new share classes, including Class T, Class S, Class D, and Class I shares. The shares will be priced at each classes net asset value per share plus applicable fees and commissions. The shares had an NAV of $9.73 each as of October 31, 2020.

Class T shares will be priced at $10.08 each, which includes selling commissions and dealer manager fees of up to 3.5 percent, consisting of any combination of selling commissions and dealer manager fees. The shares also include a 1 percent annual stockholder servicing fee.

Class S shares will be priced for $10.08 each and include selling commissions of up to 3.5 percent and no dealer manager fees. The shares also include a 1 percent annual stockholder servicing fee.

Class D shares will be priced at $9.73 each and include a 0.25 percent annual stockholder servicing fee, but no selling commission or dealer manager fee.

Class I shares are also priced at $9.73 and have no selling commission, dealer manager fee, or stockholder servicing fee.

The dealer manager for the offering is Hines Securities Inc.

The REIT does not plan to offer Class AX, Class TX, Class IX and Class JX shares (IPO shares) in the follow-on offering, but intends to continue paying distributions on any outstanding IPO shares. Until November 30, 2017, the Class AX, Class TX, Class IX and Class JX shares were labeled as Class A, Class T, Class I and Class J shares.

As of September 30, 2020, Hines Global Income Trust owned 20 real estate investments which total 9.5 million square feet of space.

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