Hartman vREIT XXI Declared Effective by SEC
Hartman vREIT XXI Inc., a publicly registered, non-traded real estate investment trust, announced that its initial public offering of approximately $250 million in shares of common stock was declared effective by the Securities and Exchange Commission.
Hartman vREIT XXI will offer 25 million shares of its common stock at $10.00 per share and up to an additional 2 million shares of its common stock under its distribution reinvestment plan at $9.50 per share.
“Our distribution team is thrilled to bring this new program to the broker-dealer community as an option for their investors who are looking to add a quality, value oriented non-traded REIT investment to their portfolios. We look forward to continuing the many broker-dealer partnerships we have in place today, and beginning new ones,” said Rick Vitale, president of Hartman Advisors.
Following Hartman’s other investment programs, the REIT intends to focus its acquisition activities on value-add office, retail, industrial, and warehouse commercial real estate properties located in Texas.
Hartman Advisors’ previous publicly registered non-traded REIT, Hartman Short Term Income Properties XX Inc., raised roughly $189 million in equity prior to closing to new investments in March 2016.
Hartman vREIT XXI intends to purchase properties located in Dallas/Ft. Worth, Houston, and San Antonio. The Hartman family of companies manages approximately $600 million of commercial real estate assets in Texas on behalf of multiple investment programs and thousands of retail investors.
