Hines Global Income Trust: 2020 Annual Meeting of Stockholders
September 14, 2020
Hines Global Income Trust, Inc. (the “Company”) held its annual stockholder meeting on Wednesday, September 9. During this meeting, five new nominees were selected to serve one-year terms to end on the date of the 2021 annual stockholder meeting. Also, COO Janice E. Walker held a presentation about the current state of the Company. Highlights are as follows:
Fund Overview
The Company’s fund goals are to build a portfolio of institutional-quality, income-oriented assets; diversify by product type and location; and acquire assets in resilient markets with predictable cash flow, capital preservation, and modest value growth with an ultimate gain of providing investors quality commercial real estate with scale, global diversification, and attractive, risk-adjusted returns.
Portfolio Details
The Company’s portfolio consists of 20 properties totaling 9.5 million square feet with a 95% occupancy rate. Property types are: 44% Industrial, 31% Residential, 16% Retail, and 9% Office space. Domestic properties make up 49% of the portfolio with locations in:
• Centreville, VA
• Cincinnati, OH
• College Park, MD
• Colorado Springs, CO
• Houston, TX
• Salt Lake City, UT
• Santa Clara, CA
The remaining 51% of international properties are located in:
• Bristol, United Kingdom
• Dublin, Ireland
• Edinburgh, United Kingdom
• Frankfurt, Germany
• Gdarisk, Poland
• Glasgow, United Kingdom
• Lodz, Poland
• Madrid, Spain
• Milton Keynes, United Kingdom
• Reading, United Kingdom
• The Hague, Netherlands
• Venlo, Netherlands
• Wakefield, United Kingdom
The gross asset value of the portfolio is $1.6 billion with a net asset value of $945 million.
COVID-19 Report
The Company has maintained distributions of $0.625 per share annually each month of 2020 to date. Rent collections and rent relief requests have been actively managed across the portfolio. A strong tenancy and resilient assets have resulted in minimal delinquencies.
Hines Global has increased investments in the industrial and logistics sector by acquiring ~166M and over 1MM SF of industrial real estate in the last 90 days.
Source: SEC
