U.S. Hines' unit purchases logistics asset in UK for $26 mln

Hines, a U.S. real estate investment firm, announced that its unit, Hines Glob­al Income Trust, Inc., has acquired a logistics property in Wakefield, West Yorkshire, UK.

The facility, situated at Wakefield 41 Industrial Park, is occupied by warehousing and logistics operator Integrated Third Party Logistics Ltd., pursuant to a lease with ten years remaining.

Hines Glob­al Income Trust, Inc., a real estate investment trust, purchased the 207,115-square-foot asset from AEW UK Core Property Fund, a fund managed by AEW UK Investment Management LLP, for 20.6 million pounds ($26 million).

Previously, Hines Glob­al had bought a 137,000-square-foot property in Milton Keynes, a 270,000-square-foot distribution facility in Bristol, and a 216,000-square-foot warehouse in Edinburgh.