Al Hartman Announces $250M Real Estate Investment Trust (REIT)
Hartman Short Term Income Properties XX, Inc. (“Hartman XX”) has announced that its initial $250,000,000 public stock offering registration was declared effective by the SEC. The purpose of this new Hartman fund is to expand the footprint of the Hartman group of companies within the major Texas markets of Houston, Dallas/Fort Worth and San Antonio. The Hartman companies were started in 1983 and have had a long history of delivering consistent returns for investors since inception. The Hartman XX offering is expected to more than double the size of the Hartman group of companies.
Hartman XX CEO and Chairman of the Board, Al Hartman said, “We see the current market as a great opportunity to buy properties at discounted prices. We have not seen these types of buying opportunities in a generation. We sat on the sidelines from late 2005 to mid 2007 when properties values peaked, and avoided over-paying for properties like many other companies did. This approach allowed us to maintain our track record in terms of yield for the investors. We specialize in buying properties in which we can add value by making improvements and leasing up the properties. The types of properties we are seeing now are generally foreclosures and offer value-add opportunities.”
Hartman XX will raise the money on a best efforts basis through financial planning companies on a national scale.
Hartman is a regional, value-oriented, full service commercial real estate group. Hartman entities own and manage office space for lease in Houston, Dallas and San Antonio.