{"id":145084,"date":"2021-07-14T10:32:00","date_gmt":"2021-07-14T14:32:00","guid":{"rendered":"https:\/\/qa.bluevaultpartners.com\/?post_type=news&p=145084"},"modified":"2021-07-14T10:32:00","modified_gmt":"2021-07-14T14:32:00","slug":"hines-global-income-trust-inc-amended-and-restated-share-redemption-program","status":"publish","type":"post","link":"https:\/\/qa.bluevaultpartners.com\/hines-global-income-trust-inc-amended-and-restated-share-redemption-program\/","title":{"rendered":"Hines Global Income Trust, Inc. Amended and Restated Share Redemption Program"},"content":{"rendered":"
July 9, 2021 | SEC Filing<\/p>\n
As Adopted by the Board of Directors, effective June 30, 2021:<\/p>\n
Advisor<\/strong> \u2013 Shall mean HGIT Advisors LP.<\/p>\n Company<\/strong> \u2013 Shall mean Hines Global Income Trust, Inc. References herein to \u201cwe,\u201d \u201cour,\u201d or \u201cus\u201d refer to the Company.<\/p>\n Code<\/strong> \u2013 Shall mean the Internal Revenue Code of 1986, as amended.<\/p>\n NAV<\/strong> \u2013 Shall mean net asset value.<\/p>\n SEC<\/strong> \u2013 Shall mean the United States Securities and Exchange Commission.<\/p>\n Securities Act<\/strong> \u2013 Shall mean the Securities Act of 1933, as amended.<\/p>\n Sponsor<\/strong> \u2013 Shall mean Hines Interests Limited Partnership.<\/p>\n Our shares are currently not listed on a national securities exchange, and we do not know whether they will ever be listed. In order to provide our stockholders with some liquidity, we have adopted this share redemption program which is applicable to all shares of our common stock. As described below, we cannot guarantee that our share redemption program will be available indefinitely. Stockholders who have purchased shares from us or received their shares through a non-cash transaction, not in the secondary market, may receive the benefit of limited liquidity by presenting for repurchase to us all or a portion of those shares, in accordance with the procedures outlined herein and subject to the limitations and restrictions of the program described below. There is no fee payable to our Advisor, our Sponsor, our board of directors or any other party in connection with the repurchase of shares pursuant to our share redemption program.<\/p>\n Subject to the limitations of and restrictions on the program, and subject to funds being available as described below, shares redeemed under this share redemption program will be redeemed at a price equal to the \u201ctransaction price,\u201d which generally will be equal to the most recently determined NAV per share applicable to the class of shares being redeemed and most recently disclosed by us in a public filing with the SEC (subject to the 5% holding discount described below). Under this share redemption program, we may redeem during any calendar month common shares whose aggregate value (based on the transaction price per share in effect when the redemption is effected) is 2% of our aggregate NAV as of the last calendar day of the previous month and during any calendar quarter whose aggregate value (based on the transaction price per share in effect when the redemption is effected) is up to 5% of our aggregate NAV as of the last calendar day of the prior calendar quarter. During a given quarter, if in each of the first two months of such quarter the 2% redemption limit is reached and stockholders\u2019 redemptions are reduced pro rata for such months, then in the third and final month of that quarter, the applicable limit for such month will likely be less than 2% of our aggregate NAV as of the last calendar day of the previous month because the redemptions for that month, combined with the redemptions in the previous two months, cannot exceed 5% of our aggregate NAV as of the last calendar day of the prior calendar quarter.<\/p>\n There is no minimum holding period and stockholders can request that we redeem their shares at any time. However, shares that have not been outstanding for at least one year will be redeemed at 95% of the transaction price (the \u201c5% holding discount\u201d) that would otherwise apply; provided, that, the period that a share was held prior to being converted into a share of another class pursuant to our charter will count toward the total hold period for such share, as converted. Upon request, we may waive the 5% holding discount in the case of the death or disability of a stockholder. The discount also will be waived with respect to shares issued pursuant to our distribution reinvestment plan and any shares that we issue as stock dividends. In addition, the discount may not apply to transactions initiated by the trustee or advisor to a donor-advised charitable gift fund, collective trust fund, common trust fund, fund of fund(s) or other institutional accounts, strategy funds or programs if we determine, in our sole discretion, such account, fund or program has an investment strategy or policy that is reasonably likely to control short-term trading. Further, shares of our common stock may be sold to certain employer sponsored plans, bank or trust company accounts and accounts of certain financial institutions or intermediaries for which we may not apply the discount to the underlying stockholders, often because of administrative or systems limitations. The discount also will not apply to shares taken by the Advisor or Sponsor in lieu of fees or expense reimbursements under the Advisory Agreement or Operating Partnership Agreement.<\/p>\n Stockholders who would like to request redemption of their shares should contact us to receive the required redemption forms and instructions concerning required signatures. Certain broker dealers require that their clients make redemption requests through their broker dealer, so stockholders should contact their broker dealer first if they want to request redemption of their shares. Stockholders may request that we redeem all or any portion of their shares as of the close of business on the last calendar day of each full calendar month (the \u201cRedemption Date\u201d). To have their shares redeemed, redemption requests and required documentation must be received by us in \u201cgood order\u201d by 4:00 p.m. Eastern time on the second to last business day of the applicable month. If a redemption request is received after such time, the redemption order will be executed on the next month\u2019s Redemption Date at the transaction price applicable for that Redemption Date (subject to any 5% holding discount), unless such request is withdrawn prior to that Redemption Date. Stockholders will generally have at least 20 business days (from the last business day of the previous month to the second to last business day of the applicable month) during which to decide whether to request the redemption of their shares as of the end of the current month. Stockholders may withdraw their redemption requests before they have been processed by notifying a customer service representative available on our toll-free information line at (888) 220-6121 before 4:00 p.m. Eastern time on the second to last business day of the applicable month. Settlements of share redemptions will be made within three business days after the Redemption Date.<\/p>\nShare Redemption Program<\/h4>\n