Hartman, with 29 prior commercial real estate programs, has fully subscribed its Delaware Statutory Trust offering, Hartman Retail III, DST after raising nearly $7.8 million from accredited investors.
The offering purchased the Colony Retail Shopping Center (Colony Retail), a net leased retail center in the Dallas Forth Worth Metroplex. Colony Retail is 100 percent leased to nationally recognized tenants with long-term leases that include rental escalations and multiple renewal options. The tenants include Floor & Decor Holdings, Inc. (Floor and Decor) and Chair King Backyard Store.
Hartman Income REIT Management, Inc. a firm with 59 commercial real estate properties under management, is the operating subsidiary of the property.
“The strong rebound in the economy and the pro-business environment we have here in Texas has had a conducive tailwind on the performance of our retail properties, particularly Colony Retail, where national tenants Floor & Decor and Chair King have benefited from increased purchasing on home improvement products. With the pandemic still top of mind, investors are more selective than ever in the type of retail assets that they invest in, and we think that gives us an advantage. We are delighted to have fully subscribed the Hartman Retail III, DST offering and plan to announce our next offering very soon.” Shared Al Hartman, CEO and President of Hartman.
Hartman has extensive experience acquiring, owning, managing, and leasing commercial office, retail, light industrial and warehouse properties located in Texas. Since 1983, Hartman and its affiliated entities (including founder, Allen R. Hartman) have sponsored 29 programs and acquired interests in more than 90 real assets totaling approximately $805 million as of March 31, 2021.
Forward-Looking Statement: This press release contains certain forward-looking statements. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements and you should not place undue reliance on any such statements. Several important factors could cause actual results to differ materially from the forward-looking statements contained in this material. Such factors include those described in the Risk Factors sections of the annual report on Form 10-K for Hartman Short Term Income Properties XX and other reports filed with the Securities and Exchange Commission. Forward-looking statements in this press release speak only as of the date on which such statements were made, and the company undertakes no obligation to update any such statements that may become untrue because of subsequent events. Such forward-looking statements are subject to the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
THIS IS NEITHER AN OFFER TO SELL NOR A SOLICITATION OF AN OFFER TO BUY ANY SECURITIES DESCRIBED HEREIN OR DESCRIBED ELSEWHERE. AN OFFERING IS MADE ONLY BY PROSPECTUS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION (“SEC”) OR PURSUANT TO A VALID EXEMPTION. A COPY OF THE CURRENT PROSPECTUS OR OFFERING DOCUMENT MUST BE MADE AVAILABLE TO YOU IN CONNECTION WITH ANY OFFERING AND SHOULD BE READ IN ORDER TO MORE FULLY UNDERSTAND THE IMPLICATIONS AND RISKS OF THE OFFERING TO WHICH IT RELATES. NON-TRADED REIT INVESTMENTS ARE NOT SUITABLE FOR ALL INVESTORS. INFORMATION ABOUT INVESTING IN A SPECIFIC NON-TRADED REIT MUST BE ACCOMPANIED BY A PROSPECTUS, WHICH SHOULD BE READ PRIOR TO INVESTING.
Neither the SEC nor any other U. S. state or federal regulator has passed on or endorsed the merits of any offering or securities described herein or confirmed the adequacy or accuracy of the prospectus. Any representation to the contrary is unlawful. All information contained in this material is qualified in its entirety by the terms of a current prospectus. Investors should consider a program’s investment objectives, risks, charges, and expenses before investing. The achievement of any goals is not guaranteed. For more complete information about investing in any program, including risks, charges, and expenses, refer to the program’s prospectus. Securities offered through D.H. Hill Securities, LLLP, Member FINRA/SIPC, 1543 Green Oak Place, Suite 100, Kingwood, TX 77339. 800.880.2212.