UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of report (Date of earliest event reported):
December
28, 2010
HARTMAN
SHORT TERM INCOME PROPERTIES XX, INC.
(Exact
name of registrant as specified in its charter)
Maryland
|
333-154750
|
26-3455189
|
(State
of Organization)
|
(Commission
File Number)
|
(I.R.S.
Employer Identification
Number)
|
2909
Hillcroft, Suite 420
Houston,
Texas
|
77057
|
|
(Address
of principal executive offices)
|
(Zip
Code)
|
(713)
467-2222
(Registrant’s
telephone number, including area code)
Check
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General
Instruction A.2. below):
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
Pre-commencement
communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
1.01. Entry into a Material Definitive Agreement; Item
2.01. Completion of Acquisition of Asset
On
December 28, 2010, in connection with the proposed joint venture agreement
between Hartman Short Term Income Properties XX, Inc., (“the Company”) and
Hartman Short Term Income Properties XIX, Inc. (“Hartman XIX”), the
Company entered into the transactions described herein.
Joint Venture
Investment
On
December 28, 2010, the Company entered into the limited liability company
operating agreement of Hartman Richardson Heights Properties LLC (the “Joint
Venture”). As of December 28, 2010, the Company made an initial capital
contribution to the Joint Venture of $1.915 million representing a 10% interest
in the Joint Venture. Hartman XIX., the other member of the Joint Venture
is a REIT that is managed by affiliates of the Company’s manager and real
property manager. Hartman XIX has made capital contributions totaling
$17.235 million to the Joint Venture representing a 90% interest
therein. The Company’s board of directors unanimously approved the
Company’s entering into the Joint Venture.
Property
Acquisition
On
December 28, 2010, the Joint Venture acquired a retail shopping center located
in Richardson, Texas for an aggregate purchase price of $19.15 million on an all
cash basis from the seller, LNR Partners, LLC. The property is located at
100 South Central Expressway, Richardson, Texas and commonly known as Richardson
Heights Shopping Center. The property consists of approximately 201,000
square feet and is approximately 56% occupied at the present
time. Richardson is a suburb of Dallas, Texas
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
Date: December 28, 2010
HARTMAN SHORT TERM INCOME PROPERTIES XX, INC. | |||
|
By:
|
/s/ Louis T. Fox, III | |
Name: | Louis T. Fox, III | ||
Title: | Chief Financial Officer | ||