Hartman XX to Close Offering
The board of directors of Hartman Short Term Income Properties XX, a publicly registered non-traded real estate investment trust, announced that it expects to discontinue the company’s $219 million follow-on public offering on or before March 31, 2016. The company has also committed to report its net asset value before it will be required to do so.
“We continue to be pleased with how our portfolio is performing. I am proud to announce that by March 31, 2016, we will be providing shareholders with an estimated value-per-share of our common stock in our 2015 annual report that will be based on the valuations of the company’s assets and liabilities in compliance with FINRA Notice 15-02,” said Al Hartman, chief executive officer of Hartman XX.
Hartman XX’s is a Texas-centric REIT that acquires and operates a portfolio of commercial real estate in targeted markets in Texas that have demonstrated high occupancy potential and income levels across market cycles. As of September 30, 2015, the company had received approximately $117.5 million in gross proceeds from its initial and follow-on offerings, and invested approximately $189.5 million in 15 properties comprising a total of 2.4 million square feet.
