Hartman XX Buys San Antonio Shopping Center
November 22, 2016 | by DI Wire
Hartman Short Term Income Properties XX Inc., a publicly registered non-traded real estate investment trust, purchased the Village Pointe shopping center in San Antonio, Texas. According to a filing with the Securities & Exchange Commission, the purchase price was approximately $7.1 million, exclusive of closing costs.
Built in 1982 and renovated in 2015, Village Pointe is a 54,200-square-foot shopping center located within five miles of San Antonio International Airport via US Highway 281. The property is 93 percent leased to a mix of national and local tenants including Mattress Firm (NYSE: MFRM), Bike World, and 5.11 Tactical.
“Our team acquired Village Pointe at a discount to replacement cost which provides our investors a strong stable yield. The addition of Village Pointe to our portfolio continues our firm’s long tradition of successfully acquiring value-add properties,” said Al Hartman, Hartman’s chief executive officer.
Our firm has been using Blue Vault from the first year it was available.
We have found it to be a valuable tool to verify what wholesalers tell us and to dig deep into how the reported investments are really performing.
We appreciate that Blue Vault has expanded its services from initially covering REIT's to now also including BDC's.
Our clients also appreciate that we conduct this additional due diligence on their behalf.