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Hartman XX Declares $12.40 NAV per Share

Hartman Short Term Income Properties XX Inc., a publicly registered non-traded real estate investment trust, announced that its board of directors approved an estimated net asset value of $12.40 per share of its common stock. This is the first time that the board has determined an estimated per-share NAV for the company.

Hartman Advisors LLC, the REIT’s advisor, engaged WKW Advisors, an independent third-party real estate advisory firm, to assist in determining the estimated per share NAV and a fair value range of Hartman XX’s real estate portfolio holdings.

WKW Advisors’ valuation was based upon the estimated market value of the company’s assets, less the estimated market value of its liabilities, divided by the total shares outstanding, and was performed in accordance with the valuation guidelines established by the Investment Program Association.

WKW Advisors’ per share valuation reflected a range of $11.93 – $12.87.

Hartman XX terminated its offering last month, but will continue to sell DRIP until as late as July 13, 2016. Beginning in May 2016, these shares will be sold at the NAV of $12.40 per common share.

Hartman Short Term Income Properties XX is a Texas-centric REIT focused on value-add investing in office, retail, and industrial properties. The company currently owns 15 properties located in Dallas/Ft. Worth, Houston, and San Antonio.

The REIT commenced its initial public offering in February 2010 to sell up to $250 million in shares of common stock at a price of $10.00 per share. On July 16, 2013, the company commenced its follow-on public offering of up to $200 million shares of common stock at a price of $10.00 per share and up to $19 million in DRIP shares priced at $9.50 per share.

As of December 31, 2015, Hartman XX had issued 14,038,203 shares of common stock in its initial public offering and follow-on offering, including 897,459 DRIP shares, resulting in total gross proceeds of $136.9 million.

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