Hartman vREIT XXI Announces Follow-On Offering

June 26, 2019

Hartman vREIT XXI Announces Follow-On Offering

June 25, 2019 | Luke Schmidt | Blue Vault

On June 24, 2019, Hartman vREIT XXI, Inc. (“HVREIT”), a public non-traded REIT, filed a follow-on offering for up to $220 million of its Class A and Class T shares of common stock.  Class A and Class T shares will be offered at the current NAV plus applicable fees and selling commissions, which remain unchanged from the initial public offering.  Selling commissions will total 7% for Class A shares and 3% for Class T shares.  Dealer-Manager fees will total 3% for both share classes.  Distribution and Shareholder Servicing fees will be 1% for Class T shares, with no fee being charged on Class A shares.

HVREIT commenced the initial public offering of their common stock on June 24, 2016.  As of May 31, 2019, the REIT had accepted investors’ subscriptions for, and issued, 4,803,147 shares of their Class A stock and 203,479 shares of their Class T common stock, including 120,362 Class A shares and 6,288 Class T shares issued pursuant to their DRIP, resulting in aggregate gross offering proceeds of approximately $50.4 million.

As of March 31, 2019, HVREIT owned four properties and ownership in one joint venture with gross leasable area totaling 404,178 square feet.  The Company pays monthly distributions at an annual rate of 5.50% for Class A shares and 4.77% for Class T shares.

Sources:  SEC, Blue Vault

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Gil Armour, CFP
February 3, 2016

I have been using Blue Vault Partners for the past five years.  I have found them to be a valuable, unbiased resource when it comes to evaluating and comparing non-traded REITs.  The reports help me analyze which sponsors are doing a responsible job of managing their offerings.  This allows me to limit my REIT recommendations to only the most competitive products, and then track those REITs throughout their life cycle.