Hartman XX Increases Credit Line to $60 Million

Hartman Short Term Income Properties XX Inc., a Houston-based non-traded real estate investment trust, secured a $30 million line of credit from East West Bank.

The financing brings the company’s combined line of credit capacity to approximately $60 million. According to Hartman, the access to additional capital will allow the REIT to purchase additional portfolio assets, reduce its short-term interest cost and provide flexibility in its capital structure.

“We are pleased to add the capabilities of an international bank with $30 billion in assets to our pool of lenders,” said Dave Wheeler, chief investment officer.

Last week, The DI Wire reported on the REIT’s purchase of One Technology Center in San Antonio, Texas.

Hartman Short Term Income Properties XX Inc. is a Texas-centric REIT that owns 14 properties in the Dallas/Fort Worth area, Houston, and San Antonio.