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Hartman REIT Inks Acquisition Agreement on Behalf of Related DST Offering

Hartman Short Term Income Properties XX, Inc., a publicly registered non-traded real estate investment trust, agreed to purchase Mission Bend Shopping Center in Houston, Texas from EQYInvest Mission Bend for $15.1 million, exclusive of closing costs.

Mission Bend Shopping Center is a suburban shopping center totaling approximately 140,600 square feet. The property is located in the heart of Greater West Houston at Highway 6 and Bellaire Blvd. Built in 1979 and renovated in 1999, the center’s major tenants include Aaron’s Furniture, Harbor Freight Tools, and Dollar General.

Prior to the close of the acquisition, the REIT intends to assign the purchase and sale agreement to Hartman Retail II DST, an affiliate of the sponsor.

The Delaware statutory trust intends to finance the acquisition with proceeds from a commercial mortgage loan and a short-term bridge loan to be provided by a to-be formed taxable REIT subsidiary of the company.

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.

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