Hines Global Income Trust Updates NAV

The company sets share redemption prices and declares December distributions amid stable valuations.

December 17, 2024

Company Overview and Key NAV Developments

Hines Global Income Trust, a Maryland-based real estate investment trust (REIT), recently disclosed updates to its net asset value (NAV) per share and related financial metrics for November 2024. The company reported its NAV at $9.91 per share across all classes, a slight decrease from the previous month’s $10.02. This valuation incorporates a robust real estate portfolio and updated assumptions on key financial metrics.

The updated NAV reflects the REIT’s disciplined approach to managing its real property investments, which include diverse sectors such as office, industrial, retail, and residential assets. The valuation process involves third-party appraisers alongside independent oversight, with property-specific weighted average rates influencing NAV performance.

The portfolio is supported by stable occupancy levels of 96% and a strategic holding of 43 properties. Collectively, these assets account for over 18.1 million square feet of leasable space. Leverage remains conservative at 32%, reinforcing the company’s strong balance sheet.

Share Redemption and Reinvestment Plan Updates

Under the REIT’s share redemption program, shares will be redeemed at the NAV price as of December 31, 2024. Notably, shares held for less than one year will be redeemed at 95% of the NAV, unless a waiver applies under limited circumstances. This program ensures liquidity for shareholders while aligning redemption values with market-based NAV calculations.

Shareholders participating in the distribution reinvestment plan will receive additional shares at the NAV price applicable on January 1, 2025. These measures highlight the trust’s effort to maintain investor confidence through transparent valuation and consistent redemption policies.

Distribution Declarations

Hines Global Income Trust declared gross distributions for December 2024, maintaining a consistent payout across share classes. The distributions stand at $0.052 per share, although net amounts vary due to stockholder servicing fees. Class I, AX, and JX shares receive the full distribution, while Class T, S, and D shares have net payouts adjusted for servicing fees.

• Class T Shares: $0.044 net


• Class S Shares: $0.045 net


• Class D Shares: $0.050 net


• Class I, AX, JX Shares: $0.052 net

Distributions will be payable on January 1, 2025, to shareholders of record as of December 31, 2024. Investors can opt for cash payouts or reinvest through the company’s reinvestment plan.

Real Estate Transactions and Outlook

Recent portfolio activity includes the sale of Miramar Activity Business Center for $46.0 million, excluding transaction costs. The property disposition aligns with Hines Global’s ongoing strategy to optimize its holdings and redeploy capital into core assets with higher return potential.

The company’s diversified asset mix continues to perform well, with the weighted average exit capitalization rate at 5.87% and a holding period of approximately 9.8 years. Discount rates applied to future cash flows reflect conservative projections in line with market standards.

Hines Global Income Trust’s focus on long-term value creation, supported by meticulous valuation oversight and prudent leverage, ensures its resilience amid changing market conditions.