The non-traded REIT’s March valuation edged down two cents while a new industrial acquisition expanded its logistics footprint.

April 23, 2026

Hines Global Income Trust, Inc. disclosed updated valuation and distribution information in a report dated April 16, 2026. The Maryland-based non-traded real estate investment trust reported that its net asset value per share declined modestly to $9.80 across all six share classes as of March 31, 2026, a two-cent decrease from the $9.82 per share reported a month earlier.

NAV and Portfolio Movement

Despite the slight per-share decline, the company’s aggregate NAV grew to roughly $3.024 billion from approximately $2.999 billion in February, as shares outstanding climbed from about 305,578,000 to 308,402,000. The value of the company’s real estate investments rose to approximately $6.28 billion from $6.22 billion, while debt and other liabilities ticked up to about $3.71 billion from $3.69 billion.

The $9.80 transaction price will apply to two key functions: distributions declared for April 2026 will be reinvested at that level on the first business day of May, and share redemptions completed as of March 31 will also be processed at that price. Shares held for less than one year generally remain subject to a five percent discount on the redemption price, with limited exceptions.

As of the reporting date, Hines Global held interests in 54 real properties encompassing approximately 24.7 million square feet of leasable space, with an occupancy rate of 95 percent. That figure reflects the disposition of Briargate in February 2026, and the March 2026 acquisition of a third building at Tortona Logistics, which expanded the company’s industrial footprint. Portfolio leverage stood at 31 percent based on property valuations as of March 31, a one-percentage-point decrease from the prior month.

Valuation Assumptions and Sensitivity

The company detailed the weighted-average assumptions underlying its discounted cash flow valuations, which were prepared by advisor HGIT Advisors LP and reviewed by independent valuation firm Altus Group U.S. Inc. The weighted-average exit capitalization rate inched down to 5.83 percent from 5.84 percent a month earlier, while the weighted-average discount rate declined to 7.27 percent from 7.30 percent. The average assumed holding period stood at 8.8 years. Among property types, industrial and residential/living assets carried the lowest exit cap rates at 5.52 percent and 5.49 percent, respectively, while office properties remained at 6.96 percent.

A sensitivity analysis showed that a 25-basis-point decrease in the weighted-average exit capitalization rate would boost property values by approximately 2.87 percent, while a corresponding increase would reduce values by roughly 2.74 percent. Changes to the discount rate produced a smaller effect, with a 25-basis-point decrease adding about 1.86 percent to values and an equivalent increase trimming them by 1.78 percent.

April Distributions

For April 2026, the board of directors authorized gross distributions of $0.052 per share across all share classes, unchanged from the prior month. Net distributions, which reflect the deduction of distribution and stockholder servicing fees, vary by share class:

• Class T: $0.044 per share
• Class S: $0.045 per share
• Class D: $0.050 per share
• Class I, Class AX, and Class JX: $0.052 per share

The distributions will be paid on the first business day of May to stockholders of record as of the last business day of April, either in cash or through shares under the distribution reinvestment plan. The company noted that some or all of the cash distributions may come from sources other than operating cash flows.

Servicing Fee Liability and Oversight

The company’s balance sheet as of March 31 includes a $49.4 million liability for distribution and stockholder servicing fees payable in future periods to Hines Private Wealth Solutions LLC, the dealer manager. The per-share NAV does not account for any servicing fees that may become payable after March 31, since those amounts may not ultimately be paid in certain circumstances, including a liquidation or public listing.

The NAV is calculated monthly under the oversight of the company’s independent valuation committee, with all real properties generally appraised annually by third-party firms. Altus concurred with the calculation of the new NAV per share as of March 31, 2026.