Hartman Short Term Income Properties XX Announces $11.26 NAV
June 8, 2020
On May 14, 2020, the board of directors of Hartman Short Term Income Properties XX, Inc. (the “Company”) determined an estimated net asset value (“NAV”) per share of the REIT’s common stock of $11.26 per share as of December 31, 2019. The previous net asset value announced was $12.55 as of December 31, 2017.
The estimated NAV per share is based on (x) the estimated value of the Company’s assets less the estimated value of the Company’s liabilities divided by (y) the number of outstanding shares of the Company’s common stock, all as of December 31, 2019. The Company intends to determine NAV on a quarterly basis, or otherwise in the sole discretion of the board, which value may be substantially different than the NAV determined as of December 31, 2019.
Investors are cautioned that the market for commercial real estate can fluctuate quickly and substantially and values of the Company’s assets and liabilities are expected to change in the future. As of December 31, 2019, the valuation date, real estate and real estate related assets of the Company consisted of 4 owned properties and a controlling limited liability company interest in an affiliate that owns 39 properties. On May 14, 2020, the shareholders of the Company and the shareholders of each of its affiliates Hartman Income REIT, Inc. (“HIREIT”) and Hartman Short Term Income Properties XIX, Inc. (“Hartman XIX”) approved merger agreements pursuant to which HIREIT and Hartman XIX will merge with and into the Company. The effective date of the mergers is anticipated to be July 1, 2020. The NAV of the Company following the mergers may be substantially different than the NAV determined as of December 31, 2019.
Source: SEC
