falsedesktopHGIT2020-09-30000158510120000093{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "Maryland\t\t80-0947092\n(State or other jurisdiction of incorporation or organization)\t\t(I.R.S. Employer Identification No.)\n2800 Post Oak Boulevard\t\t\nSuite 5000\t\t\nHouston\tTexas\t77056-6118\n(Address of principal executive offices)\t\t(Zip code)\n", "q10k_tbl_1": "Large accelerated filer\t☐\tAccelerated filer\t☐\tNon-accelerated filer\t☒\nSmaller reporting company\t☒\t\t\tEmerging growth company\t☐\nIf an emerging growth company indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 (a) of the Exchange Act.\t\t\t\t☐\t\n", "q10k_tbl_2": "PART I - FINANCIAL INFORMATION\t\t\nItem 1.\tCondensed Consolidated Financial Statements (Unaudited):\t\n\tCondensed Consolidated Balance Sheets\t1\n\tCondensed Consolidated Statements of Operations and Comprehensive Income (Loss)\t2\n\tCondensed Consolidated Statements of Equity\t3\n\tCondensed Consolidated Statements of Cash Flows\t5\n\tNotes to the Condensed Consolidated Financial Statements\t6\nItem 2.\tManagement's Discussion and Analysis of Financial Condition and Results of Operations\t27\nItem 3.\tQuantitative and Qualitative Disclosures About Market Risk\t52\nItem 4.\tControls and Procedures\t52\nPART II - OTHER INFORMATION\t\t\nItem 1.\tLegal Proceedings\t54\nItem 1A.\tRisk Factors\t54\nItem 2.\tUnregistered Sales of Equity Securities and Use of Proceeds\t54\nItem 3.\tDefaults Upon Senior Securities\t55\nItem 4.\tMine Safety Disclosures\t56\nItem 5.\tOther Information\t56\nItem 6.\tExhibits\t57\n", "q10k_tbl_3": "\tSeptember 30 2020\tDecember 31 2019\n\t(in thousands except per share amounts)\t\nASSETS\t\t\nInvestment property net\t1403538\t1254304\nInvestments in real estate-related securities\t39680\t36491\nCash and cash equivalents\t74213\t45875\nRestricted cash\t18320\t10563\nDerivative instruments\t310\t163\nTenant and other receivables net\t15326\t14160\nIntangible lease assets net\t103546\t98537\nRight-of-use asset net\t4261\t37606\nDeferred leasing costs net\t16154\t18418\nDeferred financing costs net\t1708\t2311\nOther assets\t11425\t5129\nAssets held for sale\t0\t49988\nTotal assets\t1688481\t1573545\nLIABILITIES AND EQUITY\t\t\nLiabilities:\t\t\nAccounts payable and accrued expenses\t31858\t29838\nDue to affiliates\t36540\t42782\nIntangible lease liabilities net\t22044\t19633\nOperating lease liability\t1554\t1583\nOther liabilities\t18605\t21428\nDerivative instruments\t0\t1079\nDistributions payable\t4665\t3837\nNote payable to affiliate\t0\t75000\nNotes payable net\t747972\t752131\nLiabilities associated with assets held for sale\t0\t34713\nTotal liabilities\t863238\t982024\nCommitments and contingencies (Note 11)\t0\t0\nEquity:\t\t\nStockholders' equity:\t\t\nPreferred shares $0.001 par value per share; 500000 preferred shares authorized none issued or outstanding as of September 30 2020 and December 31 2019\t0\t0\nCommon shares $0.001 par value per share (Note 6)\t99\t83\nAdditional paid-in capital\t896686\t735545\nAccumulated distributions in excess of earnings\t(78207)\t(146830)\nAccumulated other comprehensive income (loss)\t6665\t2723\nTotal stockholders' equity\t825243\t591521\nNoncontrolling interests\t0\t0\nTotal equity\t825243\t591521\nTotal liabilities and equity\t1688481\t1573545\n", "q10k_tbl_4": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\n\t(in thousands except per share amounts)\t\t\t\nRevenues:\t\t\t\t\nRental revenue\t29199\t24699\t89319\t69167\nOther revenue\t620\t809\t2159\t1633\nTotal revenues\t29819\t25508\t91478\t70800\nExpenses:\t\t\t\t\nProperty operating expenses\t8566\t6450\t23779\t17155\nReal property taxes\t3691\t2751\t10662\t8047\nProperty management fees\t1185\t887\t3734\t2531\nDepreciation and amortization\t15190\t9696\t45876\t28765\nAcquisition related expenses\t78\t83\t369\t100\nAsset management fees\t2974\t2177\t8512\t5465\nPerformance participation allocation\t0\t1053\t0\t3650\nGeneral and administrative expenses\t1046\t972\t3370\t2767\nTotal expenses\t32730\t24069\t96302\t68480\nOther income (expenses):\t\t\t\t\nGain (loss) on derivative instruments\t(867)\t(97)\t7602\t(1284)\nGain (loss) on investments in real estate-related securities\t866\t1199\t(3736)\t2527\nGain on sale of real estate\t39\t0\t130140\t0\nForeign currency gains (losses)\t283\t(1186)\t(862)\t(1522)\nInterest expense\t(5455)\t(4257)\t(15850)\t(12772)\nInterest and other income\t440\t624\t1152\t993\nIncome (loss) before benefit (provision) for income taxes\t(7605)\t(2278)\t113622\t(9738)\nBenefit (provision) for income taxes\t594\t505\t2432\t516\nProvision for income taxes related to sale of real estate\t0\t0\t(7773)\t0\nNet income (loss)\t(7011)\t(1773)\t108281\t(9222)\nNet (income) loss attributable to noncontrolling interests\t(3)\t(3)\t(10)\t(10)\nNet income (loss) attributable to common stockholders\t(7014)\t(1776)\t108271\t(9232)\nBasic and diluted income (loss) per common share\t(0.07)\t(0.03)\t1.15\t(0.16)\nWeighted average number of common shares outstanding\t97520\t68913\t93769\t57732\nComprehensive income (loss):\t\t\t\t\nNet income (loss)\t(7011)\t(1773)\t108281\t(9222)\nOther comprehensive income (loss):\t\t\t\t\nForeign currency translation adjustment\t14072\t(9265)\t3942\t(9194)\nComprehensive income (loss)\t7061\t(11038)\t112223\t(18416)\nComprehensive (income) loss attributable to noncontrolling interests\t(3)\t(3)\t(10)\t(10)\nComprehensive income (loss) attributable to common stockholders\t7058\t(11041)\t112213\t(18426)\n", "q10k_tbl_5": "Hines Global Income Trust Inc. Stockholders\t\t\t\t\t\t\t\n\tCommon Shares\t\tAdditional Paid-in Capital\tAccumulated Distributions in Excess of Earnings\tAccumulated Other Comprehensive Income (Loss)\tTotal Stockholders' Equity\tNoncontrolling Interests\n\tShares\tAmount\t\t\nBalance as of January 1 2020\t81847\t83\t735545\t(146830)\t2723\t591521\t0\nIssuance of common shares\t10735\t12\t112179\t0\t0\t112191\t0\nDistributions declared\t0\t0\t0\t(12401)\t0\t(12401)\t(3)\nRedemption of common shares\t(464)\t0\t(5395)\t0\t0\t(5395)\t0\nSelling commissions dealer manager fees and distribution and stockholder servicing fees\t0\t0\t(6240)\t0\t0\t(6240)\t0\nOffering costs\t0\t0\t(863)\t0\t0\t(863)\t0\nNet income (loss)\t0\t0\t0\t41749\t0\t41749\t3\nForeign currency translation adjustment\t0\t0\t0\t0\t(15613)\t(15613)\t0\nBalance as of March 31 2020\t92118\t95\t835226\t(117482)\t(12890)\t704949\t0\nIssuance of common shares\t4822\t3\t49404\t0\t0\t49407\t0\nDistributions declared\t0\t0\t0\t(13452)\t0\t(13452)\t(4)\nRedemption of common shares\t(1037)\t(1)\t(11399)\t0\t0\t(11400)\t0\nSelling commissions dealer manager fees and distribution and stockholder servicing fees\t0\t0\t(4009)\t0\t0\t(4009)\t0\nOffering costs\t0\t0\t(987)\t0\t0\t(987)\t0\nNet income (loss)\t0\t0\t0\t73536\t0\t73536\t4\nForeign currency translation adjustment\t0\t0\t0\t0\t2323\t2323\t0\nForeign currency translation adjustment reclassified into earnings\t0\t0\t0\t0\t3160\t3160\t0\nBalance as of June 30 2020\t95903\t97\t868235\t(57398)\t(7407)\t803527\t0\nIssuance of common shares\t3827\t3\t37684\t0\t0\t37687\t0\nDistributions declared\t0\t0\t0\t(13795)\t0\t(13795)\t(3)\nRedemption of common shares\t(837)\t(1)\t(7246)\t0\t0\t(7247)\t0\nSelling commissions dealer manager fees and distribution and stockholder servicing fees\t0\t0\t(1032)\t0\t0\t(1032)\t0\nOffering costs\t0\t0\t(955)\t0\t0\t(955)\t0\nNet income (loss)\t0\t0\t0\t(7014)\t0\t(7014)\t3\nForeign currency translation adjustment\t0\t0\t0\t0\t14072\t14072\t0\nBalance as of September 30 2020\t98893\t99\t896686\t(78207)\t6665\t825243\t0\n", "q10k_tbl_6": "Hines Global Income Trust Inc. Stockholders\t\t\t\t\t\t\t\n\tCommon Shares\t\tAdditional Paid-in Capital\tAccumulated Distributions in Excess of Earnings\tAccumulated Other Comprehensive Income (Loss)\tTotal Stockholders' Equity\tNoncontrolling Interests\n\tShares\tAmount\t\t\nBalance as of January 1 2019\t43584\t44\t371274\t(91711)\t(874)\t278733\t0\nIssuance of common shares\t6109\t7\t62886\t0\t0\t62893\t0\nDistributions declared\t0\t0\t0\t(6704)\t0\t(6704)\t(3)\nRedemption of common shares\t(362)\t0\t(4014)\t0\t0\t(4014)\t0\nSelling commissions dealer manager fees and distribution and stockholder servicing fees\t0\t0\t(4366)\t0\t0\t(4366)\t0\nOffering costs\t0\t0\t(1240)\t0\t0\t(1240)\t0\nNet income (loss)\t0\t0\t0\t(4002)\t0\t(4002)\t3\nForeign currency translation adjustment\t0\t0\t0\t0\t(2020)\t(2020)\t0\nBalance as of March 31 2019\t49331\t51\t424540\t(102417)\t(2894)\t319280\t0\nIssuance of common shares\t11785\t11\t121908\t0\t0\t121919\t0\nDistributions declared\t0\t0\t0\t(8062)\t0\t(8062)\t(4)\nRedemption of common shares\t(402)\t0\t(3111)\t0\t0\t(3111)\t0\nSelling commissions dealer manager fees and distribution and stockholder servicing fees\t0\t0\t(8511)\t0\t0\t(8511)\t0\nOffering costs\t0\t0\t(1048)\t0\t0\t(1048)\t0\nNet income (loss)\t0\t0\t0\t(3454)\t0\t(3454)\t4\nForeign currency translation adjustment\t0\t0\t0\t0\t2091\t2091\t0\nBalance as of June 30 2019\t60714\t62\t533778\t(113933)\t(803)\t419104\t0\nIssuance of common shares\t12064\t11\t124687\t0\t0\t124698\t0\nDistributions declared\t0\t0\t0\t(9708)\t0\t(9708)\t(3)\nRedemption of common shares\t(282)\t(1)\t(3480)\t0\t0\t(3481)\t0\nSelling commissions dealer manager fees and distribution and stockholder servicing fees\t0\t0\t(8042)\t0\t0\t(8042)\t0\nOffering costs\t0\t0\t(821)\t0\t0\t(821)\t0\nNet income (loss)\t0\t0\t0\t(1776)\t0\t(1776)\t3\nForeign currency translation adjustment\t0\t0\t0\t0\t(9265)\t(9265)\t0\nBalance as of September 30 2019\t72496\t72\t646122\t(125417)\t(10068)\t510709\t0\n", "q10k_tbl_7": "\tNine Months Ended September 30\t\n\t2020\t2019\n\t(In thousands)\t\nCASH FLOWS FROM OPERATING ACTIVITIES:\t\t\nNet income (loss)\t108281\t(9222)\nAdjustments to reconcile net income (loss) to net cash from (used in) operating activities:\t\t\nDepreciation and amortization\t47570\t29409\nGain on sale of real estate\t(130140)\t0\nForeign currency (gains) losses\t862\t1522\n(Gain) loss on derivative instruments\t(7602)\t1284\n(Gain) loss on investments in real estate-related securities\t3736\t(2527)\nChanges in assets and liabilities:\t\t\nChange in other assets\t(5710)\t(1197)\nChange in tenant and other receivables\t(3551)\t(5144)\nChange in deferred leasing costs\t(3589)\t(5646)\nChange in accounts payable and accrued expenses\t2549\t(1150)\nChange in other liabilities\t(1824)\t(2159)\nChange in due to affiliates\t(8732)\t(3178)\nNet cash from (used in) operating activities\t1850\t1992\nCASH FLOWS FROM INVESTING ACTIVITIES:\t\t\nInvestments in acquired properties and lease intangibles\t(297473)\t(415980)\nCapital expenditures at operating properties\t(6988)\t(6326)\nProceeds from sale of real estate\t340495\t0\nPurchases of real estate-related securities\t(34174)\t(38089)\nProceeds from settlement of real estate-related securities\t27250\t13993\nNet cash from (used in) investing activities\t29110\t(446402)\nCASH FLOWS FROM FINANCING ACTIVITIES:\t\t\nProceeds from issuance of common shares\t178433\t296944\nRedemption of common shares\t(23130)\t(10547)\nPayment of offering costs\t(4330)\t(4126)\nPayment of selling commissions dealer manager fees and distribution and stockholder servicing fees\t(7343)\t(9245)\nDistributions paid to stockholders and noncontrolling interests\t(17958)\t(10539)\nProceeds from notes payable\t216545\t229565\nPayments on notes payable\t(263202)\t(2185)\nProceeds from related party note payable\t0\t81000\nPayments on related party note payable\t(75000)\t(99000)\nChange in security deposit liability\t813\t200\nDeferred financing costs paid\t(679)\t(1190)\nPayments related to interest rate contracts\t(74)\t(39)\nNet cash from (used in) financing activities\t4075\t470838\nEffect of exchange rate changes on cash restricted cash and cash equivalents\t1060\t(1285)\nNet change in cash restricted cash and cash equivalents\t36095\t25143\nCash restricted cash and cash equivalents beginning of period\t56438\t36986\nCash restricted cash and cash equivalents end of period\t92533\t62129\n", "q10k_tbl_8": "\tGain (Loss) Recorded on Investments in Real Estate-Related Securities\t\t\t\n\tThree months ended September 30\t\tNine months ended September 30\t\n\t2020\t2019\t2020\t2019\nUnrealized gain (loss)\t1386\t673\t(1454)\t1773\nRealized gain (loss)\t(520)\t526\t(2282)\t754\nTotal gain (loss) on real estate-related securities\t866\t1199\t(3736)\t2527\n", "q10k_tbl_9": "\tSeptember 30 2020\tDecember 31 2019\t\nPrepaid insurance\t1467\t726\t\nPrepaid property taxes\t1793\t589\t\nDeferred tax assets (1)\t6377\t2973\t\nOther\t1788\t932\t\nOther assets\t11425\t5220\t(2)\n", "q10k_tbl_10": "\tSeptember 30 2020\tDecember 31 2019\t\nBuildings and improvements\t1082836\t1077207\t\nLess: accumulated depreciation\t(54931)\t(51719)\t\nBuildings and improvements net\t1027905\t1025488\t\nLand\t375633\t278639\t\nInvestment property net\t1403538\t1304127\t(1)\n", "q10k_tbl_11": "Property Name\tAcquisition Date\tBuilding and Improvements (1)\tLand (1)\tIn-place Lease Intangibles (1)\tOut-of-Market Lease Intangibles Net (1)\tTotal (1)\nThe Emerson\t1/24/2020\t97659\t17725\t2197\t0\t117581\nBratzler ABC Westland\t2/19/2020\t7181\t5704\t816\t0\t13701\nMadrid Airport Complex\t6/19/2020\t3807\t20469\t9787\t0\t34063\nWakefield Logistics\t7/2/2020\t14826\t9085\t4078\t(701)\t27288\nAdvanced Manufacturing Portfolio\t8/31/2020\t34953\t53636\t23648\t(5006)\t107231\n", "q10k_tbl_12": "\tLease Intangibles\t\t\n\tIn-Place Leases\tOut-of-Market Lease Assets\tOut-of-Market Lease Liabilities\nCost\t143096\t6673\t(28164)\nLess: accumulated amortization\t(44266)\t(1957)\t6120\nNet\t98830\t4716\t(22044)\n", "q10k_tbl_13": "\tLease Intangibles\t\t\n\tIn-Place Leases\tOut-of-Market Lease Assets\tOut-of-Market Lease Liabilities\nCost\t136215\t8957\t(25579)\nLess: accumulated amortization\t(43808)\t(2827)\t5946\nNet\t92407\t6130\t(19633)\n", "q10k_tbl_14": "\tIn-Place Lease\tOut-of-Market Leases Net\nOctober 1 2020 through December 31 2020\t7408\t(1028)\n2021\t21416\t(2233)\n2022\t18216\t(2147)\n2023\t13407\t(1816)\n2024\t7842\t(1259)\n2025\t6605\t(1082)\n", "q10k_tbl_15": "\tFixed Future Minimum Rentals\nOctober 1 2020 through December 31 2020\t20042\n2021\t76003\n2022\t64916\n2023\t56122\n2024\t45650\n2025\t40708\nThereafter\t165729\nTotal\t469170\n", "q10k_tbl_16": "Description\tOrigination or Assumption Date\tMaturity Date\t\tMaximum Capacity in Functional Currency\t\t\tInterest Rate Description\tInterest Rate as of September 30 2020\tPrincipal Outstanding at September 30 2020\tPrincipal Outstanding at December 31 2019\t\nSecured Mortgage Debt\t\t\t\t\t\t\t\t\t\t\t\nBishop's Square\t3/3/2015\t3/2/2022\t(3)\t€\t55200\t\tEuribor + 1.30% (1)\tN/A\t0\t61907\t\nDomain Apartments\t1/29/2016\t1/29/2020\t(4)\t34300\t\t\tLibor + 1.60% (1)\tN/A\t0\t34300\t(8)\nCottonwood Corporate Center\t7/5/2016\t8/1/2023\t\t78000\t\t\tFixed\t2.98%\t71011\t72359\t\nGoodyear Crossing II\t8/18/2016\t8/18/2021\t(5)\t29000\t\t\tLibor + 2.00%\tN/A\t0\t29000\t\nRookwood Commons\t1/6/2017\t7/1/2023\t(6)\t67000\t\t\tFixed\t4.25%\t54500\t67000\t\nRookwood Pavilion\t1/6/2017\t7/1/2023\t(6)\t29000\t\t\tFixed\t4.25%\t29000\t29000\t\nMontrose Student Residences\t3/24/2017\t3/23/2022\t\t€\t22605\t\tEuribor + 1.85% (1)\t2.00%\t26502\t25352\t\nQueen's Court Student Residences\t12/18/2017\t12/18/2022\t\t£\t29500\t\tLibor + 2.00% (1)\t2.25%\t37969\t38896\t\nVenue Museum District\t9/21/2018\t10/9/2021\t(7)\t45000\t\t\tLibor + 1.95% (1)\t4.02%\t45000\t45000\t\nFresh Park Venlo\t10/3/2018\t8/15/2023\t\t€\t75000\t\tEuribor + 1.50% (1)\t1.50%\t87909\t84092\t\nMaintal Logistics\t2/21/2019\t2/28/2024\t\t€\t23500\t\tEuribor + 1.10% (1)\t1.10%\t27115\t26136\t\nABC Westland\t5/3/2019\t2/15/2024\t\t€\t75000\t\tEuribor + 1.50% (1)\t1.50%\t84120\t82655\t\nŁódź Urban Logistics\t9/20/2019\t9/20/2024\t\t€\t13600\t\tFixed (2)\t1.05%\t15767\t15211\t\nGlasgow West End\t9/26/2019\t9/26/2024\t\t£\t43200\t\tLibor + 1.80% (1)\t1.95%\t55603\t56959\t\nGdańsk PL II\t10/4/2019\t9/20/2024\t\t€\t16800\t\tFixed (2)\t1.05%\t19477\t18790\t\nMadrid Airport Complex\t6/19/2020\t6/19/2023\t\t€\t15150\t\tFixed\t2.80%\t17178\t0\t\nUK Logistics\t7/7/2020\t7/7/2023\t\t£\t55138\t(9)\tLibor + 1.75% (1)\t1.92%\t70967\t0\t\nOther Notes Payable\t\t\t\t\t\t\t\t\t\t\t\nJPMorgan Chase Revolving Credit Facility\t9/13/2019\t11/15/2022\t\t275000\t\t\tVariable\t1.56%\t110000\t104000\t\nNotes Payable\t\t\t\t\t\t\t\t\t752118\t790657\t\nAffiliate Note Payable\t\t\t\t\t\t\t\t\t\t\t\nCredit Facility with Hines\t10/2/2017\t12/31/2020\t\t75000\t\t\tVariable\tN/A\t0\t75000\t\nTotal Note Payable to Affiliate\t\t\t\t\t\t\t\t\t0\t75000\t\nTotal Principal Outstanding\t\t\t\t\t\t\t\t\t752118\t865657\t\nUnamortized discount\t\t\t\t\t\t\t\t\t0\t(104)\t\nUnamortized financing fees\t\t\t\t\t\t\t\t\t(4146)\t(4126)\t\nTotal\t\t\t\t\t\t\t\t\t747972\t861427\t\n", "q10k_tbl_17": "\tPayments Due by Year\t\t\t\t\t\t\n\tOctober 1 2020 through December 31 2020\t\t2021\t2022\t2023\t2024\tThereafter\nPrincipal payments\t46960\t(1)\t7914\t182389\t324733\t190122\t0\n", "q10k_tbl_18": "Interest Rate Contracts\t\t\t\t\t\t\t\t\t\t\nType\tProperty\tEffective Date\tExpiration Date\tMaximum Capacity of Debt in Functional Currency\t\t\tNotional Amount\t\tInterest Rate Received\tPay Rate /Strike Rate\nInterest rate cap\tMontrose Student Residences\tMarch 24 2017\tMarch 23 2022\t€\t22605\t\t€\t16954\tEuribor\t1.25%\nInterest rate cap\tQueen's Court Student Residences\tDecember 20 2017\tDecember 20 2020\t£\t29500\t\t£\t22125\tLIBOR\t2.00%\nInterest rate cap\tVenue Museum District\tSeptember 21 2018\tOctober 9 2020\t45000\t\t\t45000\t\tLIBOR\t3.50%\nInterest rate cap\tFresh Park Venlo\tOctober 8 2018\tAugust 15 2023\t€\t75000\t\t€\t52487\tEuribor\t2.00%\nInterest rate cap\tMaintal Logistics\tFebruary 28 2019\tFebruary 28 2024\t€\t23500\t\t€\t16450\tEuribor\t2.00%\nInterest rate cap\tABC Westland\tMay 3 2019\tFebruary 15 2024\t€\t75000\t\t€\t52500\tEuribor\t1.00%\nInterest rate swap\tŁódź Urban Logistics\tOctober 10 2019\tSeptember 20 2024\t€\t13600\t\t€\t13600\tEuribor\t(0.36)%\nInterest rate swap\tGdańsk PL II\tOctober 10 2019\tSeptember 20 2024\t€\t16800\t\t€\t16800\tEuribor\t(0.36)%\nInterest rate cap\tGlasgow West End\tSeptember 27 2019\tSeptember 24 2024\t£\t43200\t\t£\t32400\tLIBOR\t2.00%\nInterest rate cap\tCharles Tyrwhitt\tJuly 2 2020\tJuly 2 2023\t£\t9598\t(1)\t£\t9598\tLIBOR\t1.50%\nInterest rate cap\tDSG Bristol\tJuly 2 2020\tJuly 2 2023\t£\t20240\t(1)\t£\t20240\tLIBOR\t1.50%\nInterest rate cap\tRoyal Mail\tJuly 2 2020\tJuly 2 2023\t£\t13970\t(1)\t£\t13970\tLIBOR\t1.50%\nInterest rate cap\tWakefield Logistics\tJuly 2 2020\tJuly 2 2023\t£\t11330\t(1)\t£\t11330\tLIBOR\t1.50%\n", "q10k_tbl_19": "Foreign Currency Forward Contracts\t\t\t\t\t\nEffective Date\tExpiration Date\tNotional Amount\t\tBuy/Sell\tTraded Currency Rate\nOctober 24 2019\tFebruary 28 2020\t£\t31000\tUSD/GBP\t1.29\nDecember 9 2019\tFebruary 28 2020\t£\t15000\tUSD/GBP\t1.32\nFebruary 21 2020\tMay 29 2020\t£\t31000\tUSD/GBP\t1.30\nFebruary 21 2020\tMay 29 2020\t£\t15000\tUSD/GBP\t1.30\nMarch 2 2020\tApril 30 2020\t€\t60000\tUSD/EUR\t1.12\nMarch 10 2020\tApril 30 2020\t€\t50000\tUSD/EUR\t1.14\nMay 27 2020\tJune 30 2020\t£\t31000\tUSD/GBP\t1.23\nMay 27 2020\tJune 30 2020\t£\t15000\tUSD/GBP\t1.23\nJune 26 2020\tJuly 15 2020\t£\t32500\tUSD/GBP\t1.24\n", "q10k_tbl_20": "\tGain (Loss) on Derivative Instruments\t\t\t\n\tThree months ended September 30\t\tNine months ended September 30\t\n\t2020\t2019\t2020\t2019\nDerivatives not designated as hedging instruments:\t\t\t\t\nInterest rate swaps\t68\t0\t416\t0\nInterest rate caps\t(64)\t(97)\t(138)\t(408)\nForeign currency forward contracts\t(871)\t0\t7324\t(876)\nTotal gain (loss) on derivatives\t(867)\t(97)\t7602\t(1284)\n", "q10k_tbl_21": "\tSeptember 30 2020\t\tDecember 31 2019\t\n\tShares Authorized\tShares Issued and Outstanding\tShares Authorized\tShares Issued and Outstanding\nClass AX common stock $0.001 par value per share\t40000\t19091\t40000\t18885\nClass TX common stock $0.001 par value per share\t40000\t19189\t40000\t19901\nClass IX common stock $0.001 par value per share\t10000\t94\t10000\t91\nClass JX common stock $0.001 par value per share\t10000\t0\t10000\t0\nClass T common stock $0.001 par value per share\t350000\t38005\t350000\t28837\nClass S common stock $0.001 par value per share\t350000\t0\t350000\t0\nClass D common stock $0.001 par value per share\t350000\t9606\t350000\t6927\nClass I common stock $0.001 par value per share\t350000\t12908\t350000\t7206\n", "q10k_tbl_22": "\tClass AX\t\tClass TX\t\tClass IX\t\tClass T\t\tClass D\t\tClass I\t\tTotal\t\n\tShares\tAmount\tShares\tAmount\tShares\tAmount\tShares\tAmount\tShares\tAmount\tShares\tAmount\tShares\tAmount\nBalance as of January 1 2020\t18885\t19\t19901\t22\t91\t0\t28837\t29\t6927\t6\t7206\t7\t81847\t83\nIssuance of common shares\t126\t0\t146\t1\t1\t0\t5809\t6\t1696\t2\t2957\t3\t10735\t12\nRedemption of common shares\t(159)\t0\t(183)\t0\t0\t0\t(86)\t0\t(20)\t0\t(16)\t0\t(464)\t0\nBalance as of March 31 2020\t18852\t19\t19864\t23\t92\t0\t34560\t35\t8603\t8\t10147\t10\t92118\t95\nIssuance of common shares\t150\t0\t127\t0\t1\t0\t2528\t2\t702\t0\t1314\t1\t4822\t3\nRedemption of common shares\t(383)\t(1)\t(211)\t0\t0\t0\t(319)\t0\t(68)\t0\t(56)\t0\t(1037)\t(1)\nBalance as of June 30 2020\t18619\t18\t19780\t23\t93\t0\t36769\t37\t9237\t8\t11405\t11\t95903\t97\nIssuance of common shares\t130\t0\t148\t0\t1\t0\t1464\t1\t475\t0\t1609\t2\t3827\t3\nConversions of common shares\t547\t0\t(547)\t0\t0\t0\t0\t0\t0\t0\t0\t0\t0\t0\nRedemption of common shares\t(205)\t0\t(192)\t0\t0\t0\t(228)\t(1)\t(106)\t0\t(106)\t0\t(837)\t(1)\nBalance as of September 30 2020\t19091\t18\t19189\t23\t94\t0\t38005\t37\t9606\t8\t12908\t13\t98893\t99\n", "q10k_tbl_23": "\tClass AX\t\tClass TX\t\tClass IX\t\tClass T\t\tClass D\t\tClass I\t\tTotal\t\n\tShares\tAmount\tShares\tAmount\tShares\tAmount\tShares\tAmount\tShares\tAmount\tShares\tAmount\t\tShares\t\t\t\tAmount\t\t\nBalance as of January 1 2019\t19123\t19\t19969\t21\t96\t0\t2858\t3\t1479\t1\t59\t0\t\t43584\t\t\t\t44\t\t\nIssuance of common shares\t136\t0\t155\t1\t1\t0\t4011\t4\t1198\t1\t608\t1\t\t6109\t\t\t\t7\t\t\nRedemption of common shares\t(163)\t0\t(195)\t0\t0\t0\t0\t0\t(4)\t0\t0\t0\t\t(362)\t\t\t\t0\t\t\nBalance as of March 31 2019\t19096\t19\t19929\t22\t97\t0\t6869\t7\t2673\t2\t667\t1\t\t49331\t\t\t\t51\t\t\nIssuance of common shares\t134\t0\t154\t0\t1\t0\t8152\t8\t1824\t2\t1520\t1\t\t11785\t\t\t\t11\t\t\nRedemption of common shares\t(270)\t0\t(132)\t0\t0\t0\t0\t0\t0\t0\t0\t0\t\t(402)\t\t\t\t0\t\t\nBalance as of June 30 2019\t18960\t19\t19951\t22\t98\t0\t15021\t15\t4497\t4\t2187\t2\t\t60714\t\t\t\t62\t\t\nIssuance of common shares\t132\t0\t152\t0\t1\t0\t8001\t8\t1474\t1\t2304\t2\t\t12064\t\t\t\t11\t\t\nRedemption of common shares\t(152)\t(1)\t(90)\t0\t(9)\t0\t(17)\t0\t(13)\t0\t(1)\t0\t\t(282)\t\t\t\t(1)\t\t\nBalance as of September 30 2019\t18940\t18\t20013\t22\t90\t0\t23005\t23\t5958\t5\t4490\t4\t\t72496\t\t\t\t72\t\t\n", "q10k_tbl_24": "\tStockholders\t\t\nDistributions for the Three Months Ended\tCash Distributions\tDistributions Reinvested\tTotal Declared\n2020\t\t\t\nSeptember 30 2020\t6486\t7309\t13795\nJune 30 2020\t6262\t7190\t13452\nMarch 31 2020\t5669\t6732\t12401\nTotal\t18417\t21231\t39648\n2019\t\t\t\nDecember 31 2019\t4992\t6092\t11084\nSeptember 30 2019\t4383\t5325\t9708\nJune 30 2019\t3647\t4415\t8062\nMarch 31 2019\t3090\t3614\t6704\nTotal\t16112\t19446\t35558\n", "q10k_tbl_25": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\t\t\t\t\t\t\nDistributions declared per Class AX share net\t0.16\t0.16\t0.47\t0.47\t\t\t\t\t\t\nDistributions declared per Class TX share net\t0.13\t0.13\t0.39\t0.39\t\t\t\t\t\t\nDistributions declared per Class IX share net\t0.15\t0.15\t0.45\t0.45\t\t\t\t\t\t\nDistributions declared per Class T share net\t0.13\t0.13\t0.39\t0.39\t\t\t\t\t\t\nDistributions declared per Class S share net\t0.13\t0.13\t0.39\t0.39\t\t\t\t\t\t\nDistributions declared per Class D share net\t0.15\t0.15\t0.44\t0.45\t\t\t\t\t\t\nDistributions declared per Class I share net\t0.16\t0.16\t0.47\t0.47\t\t\t\t\t\t\n", "q10k_tbl_26": "\tIncurred\t\t\t\t\t\t\n\tThree Months Ended September 30\t\tNine Months Ended September 30\t\tUnpaid as of\t\t\nType and Recipient\t2020\t2019\t2020\t2019\tSeptember 30 2020\t\tDecember 31 2019\nSelling Commissions- Dealer Manager (1)\t331\t2262\t2635\t5822\t0\t\t0\nDealer Manager Fee- Dealer Manager\t59\t411\t472\t1041\t0\t\t0\nDistribution & Stockholder Servicing Fees- Dealer Manager\t642\t5369\t8174\t14056\t26417\t\t22479\nOrganization and Offering Costs- the Advisor\t955\t821\t2805\t3109\t6238\t\t7763\nAsset Management Fees- the Advisor\t2974\t2177\t8512\t5465\t2734\t\t2353\nOther- the Advisor (2)\t2211\t1009\t1158\t2233\t1321\t\t1106\nPerformance Participation Allocation- the Advisor (3)\t0\t1053\t0\t3650\t0\t\t7713\nInterest expense- Hines and its affiliates (4)\t0\t72\t362\t819\t0\t\t443\nProperty Management Fees- Hines and its affiliates\t504\t404\t1699\t1219\t233\t\t287\nDevelopment and Construction Management Fees- Hines and its affiliates\t37\t36\t127\t326\t140\t\t30\nLeasing Fees- Hines and its affiliates\t160\t95\t378\t432\t327\t\t344\nExpense Reimbursement- Hines and its affiliates (with respect to management and operations of the Company's properties) (5)\t1899\t967\t5631\t2761\t(870)\t(6)\t264\nTotal\t9772\t14676\t31953\t40933\t36540\t\t42782\n", "q10k_tbl_27": "\tBasis of Fair Value Measurements\t\t\t\t\nAs of\tDescription\tFair Value of Assets\tQuoted Prices In Active Markets for Identical Items (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\nSeptember 30 2020\tInvestments in real estate-related securities\t39680\t39680\t0\t0\nDecember 31 2019\tInvestments in real estate-related securities\t36491\t36491\t0\t0\n", "q10k_tbl_28": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nRevenues\t\t\t\t\nDomestic office investments\t3648\t4108\t11419\t12445\nDomestic residential/living investments\t4858\t2820\t14172\t8293\nDomestic retail investments\t6412\t5587\t18938\t15439\nDomestic industrial investments\t938\t1088\t1470\t3275\nInternational industrial investments\t12506\t8033\t34264\t19368\nInternational office investments\t0\t2623\t3041\t6413\nInternational residential/living investments\t1457\t1249\t8174\t5567\nTotal revenues\t29819\t25508\t91478\t70800\n", "q10k_tbl_29": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nTotal revenues\t\t\t\t\nUnited States\t52%\t52%\t49%\t56%\nThe Netherlands\t24%\t28%\t24%\t24%\nUnited Kingdom\t11%\t3%\t13%\t5%\nPoland\t5%\t-%\t5%\t-%\nSpain\t4%\t-%\t1%\t-%\nGermany\t3%\t3%\t3%\t3%\nIreland\t1%\t14%\t5%\t12%\n", "q10k_tbl_30": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nRevenues in excess of property expenses (1)\t\t\t\t\nDomestic office investments\t2213\t2675\t7382\t8384\nDomestic residential/living investments\t2320\t1471\t7077\t4255\nDomestic retail investments\t3609\t3334\t10207\t8962\nDomestic industrial investments\t676\t836\t1040\t2495\nInternational industrial investments\t8223\t4888\t21610\t11209\nInternational office investments\t(518)\t1896\t1816\t4376\nInternational residential/living investments\t(146)\t320\t4171\t3386\nTotal revenues in excess of property expenses\t16377\t15420\t53303\t43067\n", "q10k_tbl_31": "\tSeptember 30 2020\t\tDecember 31 2019\nAssets\t\t\t\nDomestic office investments\t123513\t\t124144\nDomestic residential/living investments\t281277\t\t220988\nDomestic retail investments\t285166\t\t292526\nDomestic industrial investments\t112861\t\t51520\nInternational industrial investments\t584952\t\t494268\nInternational office investments\t14473\t(1)\t122342\nInternational residential/living investments\t207220\t\t211785\nCorporate-level accounts\t79019\t\t55972\nTotal assets\t1688481\t\t1573545\n", "q10k_tbl_32": "\tSeptember 30 2020\tDecember 31 2019\nTotal assets\t\t\nUnited States\t51%\t47%\nThe Netherlands\t18%\t17%\nUnited Kingdom\t18%\t18%\nIreland\t4%\t11%\nPoland\t4%\t4%\nGermany\t3%\t3%\nSpain\t2%\t-%\n", "q10k_tbl_33": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nReconciliation to revenues in excess of property expenses\t\t\t\t\nNet income (loss)\t(7011)\t(1773)\t108281\t(9222)\nDepreciation and amortization\t15190\t9696\t45876\t28765\nAcquisition related expenses\t78\t83\t369\t100\nAsset management fees\t2974\t2177\t8512\t5465\nPerformance participation allocation\t0\t1053\t0\t3650\nGeneral and administrative expenses\t1046\t972\t3370\t2767\n(Gain) loss on derivative instruments\t867\t97\t(7602)\t1284\n(Gain) loss on investments in real estate-related securities\t(866)\t(1199)\t3736\t(2527)\nGain on sale of real estate\t(39)\t0\t(130140)\t0\nForeign currency (gains) losses\t(283)\t1186\t862\t1522\nInterest expense\t5455\t4257\t15850\t12772\nInterest and other income\t(440)\t(624)\t(1152)\t(993)\n(Benefit) provision for income taxes\t(594)\t(505)\t(2432)\t(516)\nProvision for income taxes related to sale of real estate\t0\t0\t7773\t0\nTotal revenues in excess of property expenses\t16377\t15420\t53303\t43067\n", "q10k_tbl_34": "\tNine Months Ended September 30\t\n\t2020\t2019\nSupplemental Disclosure of Cash Flow Information\t\t\nCash paid for interest\t13948\t11593\nCash paid for income taxes\t1035\t133\nCash paid for income taxes related to sale of real estate\t7773\t0\nSupplemental Schedule of Non-Cash Investing and Financing Activities\t\t\nDistributions declared and unpaid\t4665\t3402\nDistributions reinvested\t20870\t12567\nShares tendered for redemption\t2591\t1233\nNon-cash net liabilities assumed\t3863\t8299\nOffering costs payable to the Advisor\t2805\t3109\nDistribution and stockholder servicing fees payable to the Dealer Manager\t8174\t14056\nAccrued capital additions\t1897\t2115\nAccrued acquisition costs\t417\t2856\n", "q10k_tbl_35": "Property\tLocation\tInvestment Type\tDate Acquired/ Net Purchase Price (in millions)(1)\tEstimated Going-in Capitalization Rate (2)\tLeasable Square Feet\tPercent Leased\t\nCottonwood Corporate Center\tSalt Lake City Utah\tOffice\t7/2016; $139.2\t6.9%\t487549\t88%\t\nRookwood\tCincinnati Ohio\tRetail\t1/2017; $193.7\t6.0%\t600973\t91%\t\nMontrose Student Residences\tDublin Ireland\tResidential/Living\t3/2017; $40.6\t5.5%\t53835\t17%\t(3)\nQueen's Court Student Residences\tReading United Kingdom\tResidential/Living\t10/2017; $65.3\t6.2%\t79115\t61%\t(4)\nVenue Museum District\tHouston Texas\tResidential/Living\t9/2018; $72.9\t3.9%\t294964\t89%\t\nFresh Park Venlo\tVenlo Netherlands\tIndustrial\t10/2018; $136.3\t6.7%\t2863620\t97%\t\nMaintal Logistics\tFrankfurt Germany\tIndustrial\t12/2018; $43.8\t5.7%\t387253\t96%\t\nABC Westland\tThe Hague Netherlands\tIndustrial\t5/2019; $142.8\t6.2%\t1386847\t90%\t\nPromenade Shops at Briargate\tColorado Springs Colorado\tRetail\t9/2019; $93.2\t7.7%\t236539\t84%\t\nGdańsk PL II\tGdańsk Poland\tIndustrial\t9/2019; $29.9\t6.7%\t346996\t100%\t\nŁódź Urban Logistics\tŁódź Poland\tIndustrial\t9/2019; $25.2\t6.6%\t389233\t100%\t\nGlasgow West End\tGlasgow United Kingdom\tResidential/Living\t9/2019; $89.5\t5.5%\t113389\t85%\t(4)\nCharles Tyrwhitt DC\tMilton Keynes United Kingdom\tIndustrial\t11/2019; $19.9\t5.7%\t145452\t100%\t\nThe Alloy\tCollege Park Maryland\tResidential/Living\t11/2019; $98.0\t5.0%\t230902\t87%\t(4)\nDSG Bristol\tBristol United Kingdom\tIndustrial\t11/2019; $47.0\t5.0%\t269089\t100%\t\nRoyal Mail\tEdinburgh United Kingdom\tIndustrial\t12/2019; $33.4\t5.3%\t212028\t100%\t\nThe Emerson\tCentreville Virginia\tResidential/Living\t1/2020; $117.0\t4.5%\t328341\t82%\t\nMadrid Airport Complex\tMadrid Spain\tIndustrial\t6/2020; $33.2\t12.7%\t467014\t100%\t\nWakefield Logistics\tWakefield United Kingdom\tIndustrial\t7/2020; $25.6\t5.5%\t207115\t100%\t\nAdvanced Manufacturing Portfolio\tSanta Clara California\tIndustrial\t8/2020; $107.0\t6.1%\t417023\t100%\t\nTotal for All Investments\t\t\t\t\t9517277\t94%\t(5)\n", "q10k_tbl_36": "As of September 30 2020\t\t\nShares Class (1)\t1-Year\tITD\nClass I Shares (2)\t2.46%\t6.55%\nClass D Shares (2)\t2.20%\t6.29%\nClass S Shares (No Sales Load) (3)\t1.44%\t5.50%\nClass S Shares (With Sales Load) (4)\t(2.14)%\t4.14%\nClass T Shares (No Sales Load) (3)\t1.44%\t5.50%\nClass T Shares (With Sales Load) (4)\t(2.14)%\t4.14%\n", "q10k_tbl_37": "As of September 30 2020\t\t\t\t\nShares Class (1)\t1-Year\t3-Year\t5-Year\tITD\nClass AX Shares (No Sales Load)\t2.46%\t6.54%\t8.26%\t7.91%\nClass AX Shares (With Sales Load)\tN/A\t3.27%\t5.81%\t5.88%\nClass TX Shares (No Sales Load)\t1.44%\t5.49%\t7.24%\t7.21%\nClass TX Shares (With Sales Load)\tN/A\t4.18%\t6.01%\t6.00%\nClass IX Shares (No Sales Load)\t2.20%\t6.28%\tN/A\t6.40%\nClass IX Shares (With Sales Load)\tN/A\t6.13%\tN/A\t6.14%\n", "q10k_tbl_38": "\tStockholders\t\t\tDistributions Paid With Cash Flows From Operating Activities (1)\t\nDistributions for the Three Months Ended\tCash Distributions\tDistributions Reinvested\tTotal Declared\t\n2020\t\t\t\t\t\nSeptember 30 2020\t6486\t7309\t13795\t13721\t99%\nJune 30 2020\t6262\t7190\t13452\t0\t-%\nMarch 31 2020\t5669\t6732\t12401\t0\t-%\nTotal\t18417\t21231\t39648\t13721\t35%\n2019\t\t\t\t\t\nDecember 31 2019\t4992\t6092\t11084\t11087\t100%\nSeptember 30 2019\t4383\t5325\t9708\t9711\t100%\nJune 30 2019\t3647\t4415\t8062\t0\t-%\nMarch 31 2019\t3090\t3614\t6704\t0\t-%\nTotal\t16112\t19446\t35558\t20798\t58%\n", "q10k_tbl_39": "\tThree Months Ended September 30\t\tChange\t\n\t2020\t2019\t$\t%\nRevenues:\t\t\t\t\nRental revenue\t29199\t24699\t4500\t18%\nOther revenue\t620\t809\t(189)\t(23)%\nTotal revenues\t29819\t25508\t4311\t17%\nExpenses:\t\t\t\t\nProperty operating expenses\t8566\t6450\t2116\t33%\nReal property taxes\t3691\t2751\t940\t34%\nProperty management fees\t1185\t887\t298\t34%\nDepreciation and amortization\t15190\t9696\t5494\t57%\nAcquisition related expenses\t78\t83\t(5)\tN/A*\nAsset management fees\t2974\t2177\t797\t37%\nPerformance participation allocation\t0\t1053\t(1053)\t(100)%\nGeneral and administrative expenses\t1046\t972\t74\t8%\nTotal expenses\t32730\t24069\t8661\t36%\nOther income (expenses):\t\t\t\t\nGain (loss) on derivative instruments\t(867)\t(97)\t(770)\tN/A*\nGain (loss) on investments in real estate-related securities\t866\t1199\t(333)\tN/A*\nGain on sale of real estate\t39\t0\t39\tN/A*\nForeign currency gains (losses)\t283\t(1186)\t1469\tN/A*\nInterest expense\t(5455)\t(4257)\t(1198)\t(28)%\nInterest and other income\t440\t624\t(184)\t(29)%\nIncome (loss) before benefit (provision) for income taxes\t(7605)\t(2278)\t(5327)\tN/A*\nBenefit (provision) for income taxes\t594\t505\t89\tN/A*\nNet income (loss)\t(7011)\t(1773)\t(5238)\tN/A*\n", "q10k_tbl_40": "\tThree Months Ended September 30\t\tChange\t\t\n\t2020\t2019\t$\t\t%\nRevenues\t\t\t\t\t\nSame-store properties\t\t\t\t\t\nDomestic office investments\t3648\t4108\t(460)\t(1)\t(11)%\nDomestic residential/living investments\t1488\t1523\t(35)\t\t(2)%\nDomestic retail investments\t4371\t5070\t(699)\t(2)\t(14)%\nInternational industrial investments\t8025\t7993\t32\t\t-%\nInternational residential/living investments\t552\t1250\t(698)\t(3)\t(56)%\nTotal same-store properties\t18084\t19944\t(1860)\t\t(9)%\nRecent acquisitions\t11735\t557\t11178\t\tN/A*\nDisposed properties\t0\t5007\t(5007)\t\t(100)%\nTotal revenues\t29819\t25508\t4311\t\t17%\n", "q10k_tbl_41": "\tThree Months Ended September 30\t\tChange\t\t\n\t2020\t2019\t$\t\t%\nProperty expenses(1)\t\t\t\t\t\nSame-store properties\t\t\t\t\t\nDomestic office investments\t1435\t1438\t(3)\t\t-%\nDomestic residential/living investments\t977\t905\t72\t\t8%\nDomestic retail investments\t1901\t2073\t(172)\t\t(8)%\nInternational industrial investments\t3537\t3064\t473\t(2)\t15%\nInternational residential/living investments\t938\t901\t37\t\t4%\nTotal same-store properties\t8788\t8381\t407\t\t5%\nRecent acquisitions\t4074\t282\t3792\t\tN/A*\nDisposed properties\t580\t1425\t(845)\t\t(59)%\nTotal property expenses\t13442\t10088\t3354\t\t33%\n", "q10k_tbl_42": "\tThree Months Ended September 30\t\tChange\t\t\n\t2020\t2019\t$\t\t%\nRevenues in excess of property expenses(1)\t\t\t\t\t\nSame-store properties\t\t\t\t\t\nDomestic office investments\t2213\t2670\t(457)\t(2)\t(17)%\nDomestic residential/living investments\t511\t618\t(107)\t\t(17)%\nDomestic retail investments\t2470\t2997\t(527)\t(2)\t(18)%\nInternational industrial investments\t4488\t4929\t(441)\t(2)\t(9)%\nInternational residential/living investments\t(386)\t349\t(735)\t(2)\t(211)%\nTotal same-store properties\t9296\t11563\t(2267)\t\t(20)%\nRecent acquisitions\t7661\t275\t7386\t\tN/A*\nDisposed properties\t(580)\t3582\t(4162)\t\t(116)%\nTotal revenues in excess of property expenses\t16377\t15420\t957\t\t6%\n", "q10k_tbl_43": "\tNine Months Ended September 30\t\tChange\t\n\t2020\t2019\t$\t%\nRevenues:\t\t\t\t\nRental revenue\t89319\t69167\t20152\t29%\nOther revenue\t2159\t1633\t526\t32%\nTotal revenues\t91478\t70800\t20678\t29%\nExpenses:\t\t\t\t\nProperty operating expenses\t23779\t17155\t6624\t39%\nReal property taxes\t10662\t8047\t2615\t32%\nProperty management fees\t3734\t2531\t1203\t48%\nDepreciation and amortization\t45876\t28765\t17111\t59%\nAcquisition related expenses\t369\t100\t269\tN/A*\nAsset management fees\t8512\t5465\t3047\t56%\nPerformance participation allocation\t0\t3650\t(3650)\t(100)%\nGeneral and administrative expenses\t3370\t2767\t603\t22%\nTotal expenses\t96302\t68480\t27822\t41%\nOther income (expenses):\t\t\t\t\nGain (loss) on derivative instruments\t7602\t(1284)\t8886\tN/A*\nGain (loss) on investments in real estate-related securities\t(3736)\t2527\t(6263)\tN/A*\nGain on sale of real estate\t130140\t0\t130140\tN/A*\nForeign currency gains (losses)\t(862)\t(1522)\t660\tN/A*\nInterest expense\t(15850)\t(12772)\t(3078)\t(24)%\nInterest and other income\t1152\t993\t159\t16%\nIncome (loss) before benefit (provision) for income taxes\t113622\t(9738)\t123360\tN/A*\nBenefit (provision) for income taxes\t2432\t516\t1916\tN/A*\nProvision for income taxes related to sale of real estate\t(7773)\t0\t(7773)\tN/A*\nNet income (loss)\t108281\t(9222)\t117503\tN/A*\n", "q10k_tbl_44": "\tNine months ended September 30\t\tChange\t\t\n\t2020\t2019\t$\t\t%\nRevenues\t\t\t\t\t\nSame-store properties\t\t\t\t\t\nDomestic office investments\t11419\t12445\t(1026)\t(1)\t(8)%\nDomestic residential/living investments\t4431\t4466\t(35)\t\t(1)%\nDomestic retail investments\t12272\t14923\t(2651)\t(2)\t(18)%\nInternational industrial investments\t14107\t14254\t(147)\t\t(1)%\nInternational residential/living investments\t4016\t5568\t(1552)\t(3)\t(28)%\nTotal same-store properties\t46245\t51656\t(5411)\t\t(10)%\nRecent acquisitions\t41575\t5631\t35944\t\tN/A*\nDisposed properties\t3658\t13513\t(9855)\t\t(73)%\nTotal revenues\t91478\t70800\t20678\t\t29%\n", "q10k_tbl_45": "\tNine months ended September 30\t\tChange\t\t\n\t2020\t2019\t$\t\t%\nProperty expenses(1)\t\t\t\t\t\nSame-store properties\t\t\t\t\t\nDomestic office investments\t4036\t4065\t(29)\t\t(1)%\nDomestic residential/living investments\t2947\t2745\t202\t(2)\t7%\nDomestic retail investments\t5973\t6298\t(325)\t\t(5)%\nInternational industrial investments\t6538\t6175\t363\t(3)\t6%\nInternational residential/living investments\t2214\t2154\t60\t\t3%\nTotal same-store properties\t21708\t21437\t271\t\t1%\nRecent acquisitions\t14924\t2185\t12739\t\tN/A*\nDisposed properties\t1543\t4111\t(2568)\t\t(62)%\nTotal property expenses\t38175\t27733\t10442\t\t38%\n", "q10k_tbl_46": "\tNine months ended September 30\t\tChange\t\t\n\t2020\t2019\t$\t\t%\nRevenues in excess of property expenses(1)\t\t\t\t\t\nSame-store properties\t\t\t\t\t\nDomestic office investments\t7383\t8380\t(997)\t(2)\t(12)%\nDomestic residential/living investments\t1484\t1721\t(237)\t(2)\t(14)%\nDomestic retail investments\t6299\t8625\t(2326)\t(2)\t(27)%\nInternational industrial investments\t7569\t8079\t(510)\t(2)\t(6)%\nInternational residential/living investments\t1802\t3414\t(1612)\t(2)\t(47)%\nTotal same-store properties\t24537\t30219\t(5682)\t\t(19)%\nRecent acquisitions\t26651\t3446\t23205\t\tN/A*\nDisposed properties\t2115\t9402\t(7287)\t\t(78)%\nTotal revenues in excess of property expenses\t53303\t43067\t10236\t\t24%\n", "q10k_tbl_47": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\tPeriod from July 31 2013 (date of inception) through September 30 2020\n\t2020\t2019\t2020\t2019\t\nNet income (loss)\t(7011)\t(1773)\t108281\t(9222)\t52361\nDepreciation and amortization (1)\t15190\t9696\t45876\t28765\t173862\nGain on sale of real estate\t(39)\t0\t(130140)\t0\t(144631)\nTaxes related to sale of real estate\t0\t0\t7773\t0\t7773\n(Gain) loss on securities (2)\t(866)\t(1199)\t3736\t(2527)\t1820\nAdjustments for noncontrolling interests (3)\t0\t(6)\t0\t(21)\t117\nFunds From Operations attributable to common stockholders\t7274\t6718\t35526\t16995\t91302\nBasic and diluted income (loss) per common share\t(0.07)\t(0.03)\t1.15\t(0.16)\t1.59\nFunds From Operations attributable to common stockholders per common share\t0.07\t0.10\t0.38\t0.29\t2.77\nWeighted average shares outstanding\t97520\t68913\t93769\t57732\t32965\n", "q10k_tbl_48": "\tReduction in Book Value as of September 30 2020\tReduction in Net Income (Loss) for the Nine Months Ended September 30 2020\nEUR\t14401\t7185\nGBP\t5926\t83\n", "q10k_tbl_49": "Period\tTotal Number of Shares Redeemed\tAverage Price Paid Per Share\tTotal Number of Shares Purchased as Part of Publicly Announced Plans of Programs\tMaximum Number of Shares that May Yet be Redeemed Under the Plans or Programs(1)\nJuly 1 2020 to July 31 2020\t366364\t9.71\t366364\t1554126\nAugust 1 2020 to August 31 2020\t239488\t9.72\t239488\t1707124\nSeptember 1 2020 to September 30 2020\t231482\t9.82\t231482\t1968572\nTotal\t837334\t\t837334\t\n", "q10k_tbl_50": "Exhibit No.\tDescription\n3.1\tArticles of Amendment and Restatement of Hines Global Income Trust Inc. (formerly known as Hines Global REIT II Inc.) (filed as Exhibit 3.1 to Pre- Effective Amendment No. 5 to the Registrant's Registration Statement on Form S-11 File No. 333-191106 (the \"IPO Registration Statement\") on August 15 2014 and incorporated by reference herein)\n3.2\tArticles Supplementary of Hines Global Income Trust Inc. (formerly known as Hines Global REIT II Inc.) (filed as Exhibit 3.1 to Post-Effective Amendment No. 1 to the IPO Registration Statement on December 12 2014 and incorporated by reference herein)\n3.3\tArticles Supplementary of Hines Global Income Trust Inc. (formerly known as Hines Global REIT II Inc.) (filed as Exhibit 3.1 to Post-Effective Amendment No. 6 to the IPO Registration Statement on August 12 2015 and incorporated by reference herein)\n3.4\tArticles Supplementary of Hines Global Income Trust Inc. (formerly known as Hines Global REIT II Inc.) (filed as Exhibit 3.1 to Post-Effective Amendment No. 12 to the IPO Registration Statement on April 28 2017 and incorporated by reference herein)\n3.5\tArticles of Amendment to Articles of Amendment and Restatement of Hines Global Income Trust Inc. (formerly known as Hines Global REIT II Inc.) (filed as Exhibit 3.1 to the Registrant's Current Report on Form 8-K on October 16 2017 and incorporated by reference herein)\n3.6\tArticles of Amendment to Articles of Amendment and Restatement of Hines Global Income Trust Inc. (formerly known as Hines Global REIT II Inc.) (filed as Exhibit 3.5 to Pre-Effective Amendment No. 1 to the Registrant's Registration Statement on Form S-11. File No. 333-220046 (the \"Follow-On Registration Statement\") on December 1 2017 and incorporated by reference herein)\n3.7\tArticles Supplementary of Hines Global Income Trust Inc. (formerly known as Hines Global REIT II Inc.) (filed as Exhibit 3.6 to Pre-Effective Amendment No. 1 to the Follow-On Registration Statement on December 1 2017 and incorporated by reference herein)\n3.8\tArticles of Amendment to Articles of Amendment and Restatement of Hines Global Income Trust Inc. (formerly known as Hines Global REIT II Inc.) (filed as Exhibit 3.7 to Pre-Effective Amendment No. 1 to the Follow-On Registration Statement on December 1 2017 and incorporated by reference herein)\n3.9\tAmended and Restated Bylaws of Hines Global Income Trust Inc. (formerly known as Hines Global REIT II Inc.) (filed as Exhibit 3.2 to Pre-Effective Amendment No. 5 to the IPO Registration Statement on August 15 2014 and incorporated by reference herein)\n3.10\tAmendment No. 1 to Amended and Restated Bylaws of Hines Global Income Trust Inc. (formerly known as Hines Global REIT II Inc.) dated September 23 2015 (filed as Exhibit 3.5 to Post-Effective Amendment No. 7 to the IPO Registration Statement on November 17 2015 and incorporated by reference herein)\n3.11\tAmendment No. 2 to Amended and Restated Bylaws of Hines Global Income Trust Inc. (formerly known as Hines Global REIT II Inc.) (filed as Exhibit 3.1 to the Registrant's Current Report on Form 8-K on September 14 2017 and incorporated by reference herein)\n4.1\tForms of Subscription Agreement (included as Appendix A-1 and Appendix A-2 to the Post-Effective Amendment No. 11 to the Follow-On Registration Statement on April 12 2019 and incorporated by reference herein)\n4.2\tSixth Amended and Restated Distribution Reinvestment Plan effective as of December 4 2017 (included as Appendix B to the Prospectus included in Post-Effective Amendment No. 11 to the Follow-On Registration Statement on April 12 2019 and incorporated by reference herein)\n31.1*\tCertification\n31.2*\tCertification\n32.1*\tCertification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. Pursuant to SEC Release 34-47551 this exhibit is furnished to the SEC herewith and shall not be deemed to be \"filed.\"\n99.1\tHines Global Income Trust Inc. Amended and Restated Share Redemption Program effective as of November 27 2018 (filed as Exhibit 99.1 to Post-Effective Amendment No. 14 to the Follow-On Registration Statement on November 27 2018 and incorporated by reference herein)\n101.INS*\tInstance Document-The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document.\n101 SCH*\tXBRL Taxonomy Extension Schema Document\n101.CAL*\tXBRL Taxonomy Extension Calculation Linkbase Document\n101.DEF*\tXBRL Taxonomy Extension Definition Linkbase Document\n101.LAB*\tXBRL Taxonomy Extension Labels Linkbase Document\n101.PRE*\tXBRL Taxonomy Extension Presentation Linkbase Document\n*\tFiled herewith\n"}{"bs": "q10k_tbl_3", "is": "q10k_tbl_4", "cf": "q10k_tbl_7"}None
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2020
or
☐
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission file number: 000-55599
Hines Global Income Trust, Inc.
(Exact name of registrant as specified in its charter)
Maryland
80-0947092
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
2800 Post Oak Boulevard
Suite 5000
Houston
Texas
77056-6118
(Address of principal executive offices)
(Zip code)
(888) 220-6121
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Exchange Act: None.
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☐
Accelerated filer
☐
Non-accelerated filer
☒
Smaller reporting company
☒
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 (a) of the Exchange Act.
☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
As of November 1, 2020, approximately 19.3 million shares of the registrant’s Class AX common stock, 18.8 million shares of the registrant’s Class TX common stock, 0.1 million shares of the registrant’s Class IX common stock, 39.4 million shares of the registrant’s Class T common stock, 10.1 million shares of the registrant’s Class D common stock and 14.8 million shares of the registrant’s Class I common stock were outstanding.
Preferred shares, $0.001 par value per share; 500,000 preferred shares authorized, none issued or outstanding as of September 30, 2020 and December 31, 2019
—
—
Common shares, $0.001 par value per share (Note 6)
99
83
Additional paid-in capital
896,686
735,545
Accumulated distributions in excess of earnings
(78,207)
(146,830)
Accumulated other comprehensive income (loss)
6,665
2,723
Total stockholders’ equity
825,243
591,521
Noncontrolling interests
—
—
Total equity
825,243
591,521
Total liabilities and equity
$
1,688,481
$
1,573,545
See notes to the condensed consolidated financial statements.