Hartman XX Decreases Net Asset Value

The board of Hartman Short Term Income Properties XX Inc., a publicly registered non-traded real estate investment trust, approved an estimated net asset value of $12.79 per share of the company’s common stock, as of December 31, 2016. The valuation was based on a range of $12.79 and $13.17 per share, according to documents filed with the Securities and Exchange Commission.

As reported by The DI Wire in January 2017, the board previously approved an estimated net asset value of $13.15 per share (based on a range of $12.74 to $13.53) of its common stock as of September 30, 2016.

The board’s valuation committee oversaw the process of determining the estimated value per share and relied on information provided in a report by WKW Financial Advisors, an independent consulting firm.

WKW Advisors’ valuation was based on the estimated market value of the REIT’s assets, less the estimated market value of its liabilities, divided by the total number of shares outstanding, and was performed in accordance with the valuation guidelines established by the Investment Program Association. As of September 30, 2016, Hartman XX owned 18 properties with a fair market value of $335.6 million.

Hartman XX is a Texas-centric real estate investment trust that commenced its initial public offering in February 2010 for up to 25 million shares of common stock priced at $10.00 per share. In addition to a $200 million follow-on offering that launched in July 2013, the REIT has raised a total of $181.3 million in investor equity. Hartman XX closed to new investments in March 2016.

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