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Hines Global Income Trust’s NAV Remains Unchanged for Fourth Straight Month

Hines Global Income Trust Inc., a publicly registered non-traded real estate investment trust sponsored by Hines, 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 April 30, 2024.

The REIT’s NAV per share remained at $10.02 for the fourth straight month. 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 261.1 million in March to 261.6 million in April.

As of April 30, the company’s NAV was approximately $2.62 billion, compared with $2.61 billion as of March 31, 2024, an increase of approximately 0.25%.

As of the same date, the company also reported that it owned interests in 42 real properties that were 96% leased and consisted of 18 million square feet of leasable space. The portfolio was 34% levered based on the valuations of its real properties.

Hines Global Income Trust was launched on June 2, 2021, and, as of May 16, 2024, it has received gross proceeds of approximately $1.9 billion from the sale of 176.7 million shares of its common stock through the current public offering, including proceeds from its distribution reinvestment plan. Additionally, approximately $247.6 million common shares remain available for sale in any combination of its various share classes, exclusive of approximately $335 million of shares available under the distribution reinvestment plan. Further, the company reported that, as of May 16, it has received aggregate gross proceeds of approximately $3.3 billion from the sale of shares of its common stock through its public offerings, including proceeds from its distribution reinvestment plan.

As of December 31, 2023, the portfolio was weighted to industrial (33%), living (28%), office (19%), retail (10%), and other (10%). Seventy-two percent of the properties were reported as domestic, while 28% were international. The company also reported making three new strategically located assets, as of the end of the year 2023.

This announcement comes on the heels of the company’s successful subscription of its $77 million multifamily DST offering, as previously reported by The DI Wire.

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