Skip to content

Hartman XX to Purchase San Antonio Shopping Center

Hartman Short Term Income Properties XX Inc., a publicly registered, non-traded real estate investment trust, agreed to purchase Village Pointe Shopping Center in San Antonio, Texas from Village Pointe Investors LP for $7.1 million. The expected closing date is December 8th.

Village Pointe Shopping Center is an approximate 54,200-square-foot retail center in the North Central submarket and is within close proximity to downtown San Antonio, San Antonio International Airport, and numerous colleges and universities. The property is currently 93 percent occupied.

According to a filing with the Securities and Exchange Commission, the company intends to assign the contract of sale agreement to a yet-to-be-formed special purpose entity for joint venture ownership with an unnamed Hartman affiliate.

Hartman XX invests in commercial real estate in targeted markets in Texas and owns a portfolio of 16 properties totaling 2.6 million square feet. The company, which terminated its follow-on offering in March 2016 and discontinued its distribution reinvestment plan in July, raised $180.9 million in investor equity since inception.

Click here to visit The DI Wire directory page.