Hartman vREIT XXI Inc., a publicly registered non-traded real estate investment trust, has registered a follow-on offering for up to $220 million of its Class A shares and Class T shares.
Class A and Class T shares will be offered at the current net asset value plus various fees and selling commissions.
Class A shares include selling commissions of up to 7 percent of the sales price and dealer manager fees of up to 3 percent.
Class T shares include selling commissions of up to 3 percent of the sales price, dealer manager fees of up to 3 percent, and an annual distribution and shareholder servicing fee of 1 percent.
D.H. Hill Securities LLLP serves as the dealer manager for the offering.
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.
As of the first quarter of 2019, the REIT’s portfolio consists of four properties purchased for $79.4 million, and a 2.47 percent joint venture interest in a real estate special purpose entity which owns 39 properties. Hartman vREIT XXI broke escrow on December 1, 2016 and had raised approximately $50.4 million in investor equity since inception, as of May 31, 2019.