Wicker Park Commons Acquired by Hines Global Income Trust | Real Estate Services M&A Deal

Hines Global Income Trust has acquired Wicker Park Commons, a real estate services other business in Illinois, for $70 million. The 218,000-square-foot Chicago shopping center at 1279 North Ashland Avenue is anchored by Jewel Osco and includes retail tenants such as Lowe’s and Ulta, plus about 140,000 square feet of office space. Hines Global Income Trust acquisitions in Chicago support income-focused real estate services M&A and expand its IL acquisitions footprint through a platform acquisition. The private equity acquisition is structured as a platform acquisition announced in May, with the purchase price equivalent to roughly $321 per square foot and a long-term leasing profile tied to the property’s retail anchors.