Hines Global Income Trust Acquires German Industrial Portfolio
February 5, 2019 | James Sprow | Blue Vault
Hines Global Income Trust, Inc. acquired Maintal Logistics from Gutperle + Harder GmbH and Gutperle and Harder GdbR on December 31, 2018. The net purchase price was €39.1 million (approximately $44.6 million assuming a rate of $1.14 per EUR as of the acquisition date), exclusive of transaction costs and closing prorations. Maintal Logistics is a portfolio of three industrial buildings located outside of Frankfurt, Germany. It consists of 386,176 square feet and is 96% leased to three tenants. The sellers are not affiliated with Hines Global or its affiliates.
Related: Hines Global Income Trust Outperforms Blackstone REIT in 2018
Hines Global Income Trust, Inc., formerly known as Hines Global REIT II, Inc., was incorporated on July 31, 2013, to invest in a diversified portfolio of quality commercial real estate properties and other real estate investments throughout the United States and internationally, and to a lesser extent, invest in real-estate related securities. The Company is sponsored by Hines Interests Limited Partnership (“Hines”), a fully integrated global real estate investment and management firm that has acquired, developed, owned, operated and sold real estate for over 60 years. The Company is managed by Hines Global REIT II Advisors LP, an affiliate of Hines.
The nontraded REIT currently owns 10 property investments, including office properties in the U.S. and Ireland, two multifamily properties in the U.S., student housing properties in Ireland and England, warehouse/distribution properties in the U.S. and Netherlands, a retail property in Cincinnati, and the Maintal Logistics industrial portfolio in Germany.
Sources: SEC, S&P Global
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