Hartman vREIT XXI Inc. (vREIT XXI), a non-traded real estate investment trust, has amended its registration statement to add two new share classes, Class I and Class S shares.
“The new share classes reduce upfront selling costs, which allows us to accommodate a wider array of advisors—transactional, fee-based, and registered investment advisors,” said Gian Craparo, managing director – Central and East.
Class S shares, which are available through brokerage and transaction-based accounts, are priced to the public at $10.67 each and include upfront selling commissions of up to 3.0 percent and dealer manager fees of up to a 0.5 percent.
Class I shares, which are available to institutional investors, are priced at $10.30 and have no upfront commissions or dealer manager fees.
The minimum purchase is $10,000, except for IRAs which may purchase a minimum of $5,000.
The offering also includes Class A and Class T shares priced at $11.44 and $10.95, respectively.
As of March 31, 2020, the company owned 10 properties: a retail shopping center; a flex/R&D property and eight office properties. In addition, the company owns a 2.47 percent ownership interest in an affiliated special purpose entity which holds 39 office, retail and light industrial properties located in Houston, Dallas, and San Antonio.
Hartman vREIT XXI invests in “value-oriented” commercial properties, including office, retail, industrial, and warehouse properties located primarily in Texas, that the company believes have the potential for growth in income and value from re-tenanting, repositioning, redevelopment, and operational enhancements. The REIT broke escrow on December 1, 2016 and had raised nearly $85 million in investor equity since inception, as of March 31, 2020.