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): April 6, 2016
HARTMAN SHORT TERM INCOME PROPERTIES XX, INC.
(Exact name of registrant as specified in its charter)
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Maryland | | 333-185336 | | 26-3455189 |
(State or other jurisdiction of incorporation or organization) | | (Commission File Number) | | (I.R.S. Employer Identification No.) |
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2909 Hillcroft, Suite 420, Houston, Texas | | 77057 |
(Address of principal executive offices) | | (Zip Code) |
Registrant's telephone number, including area code: (713) 467-2222
Check the 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:
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| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| o | 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.
On April 4, 2016, Hartman Short Term Income Properties XX, Inc., or the Company, entered into a purchase and sale agreement with Market Place Boulevard, Irving, LLC, for the acquisition of a three story suburban office building located in Irving, Texas and comprising approximately 165,982 square feet. The property is commonly referred to as Westway One. The aggregate purchase price for Westway One is $21,800,000, exclusive of closing costs. The Company intends to finance the acquisition of Westway One with proceeds from its public offering and financing secured by the property.
Westway One is currently 100% occupied by six tenants.
The acquisition of Westway One is subject to customary conditions to closing, including the absence of a material adverse change to Westway One prior to the acquisition date. There is no assurance that the Company will close the acquisition of Westway One on the terms described above or at all.
The material items of the agreement described herein are qualified in their entirety by the agreement attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit | | Description |
10.1 | | Purchase and Sales Agreement, dated as of April 4, 2016 by and between Market Place Boulevard, Irving, LLC and Hartman Short Term Income Properties XX, Inc. |
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SIGNATURE
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.
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| HARTMAN SHORT TERM INCOME PROPERTIES XX, INC. |
| (Registrant) |
Date: April 6, 2016 | By: | /s/ Louis T. Fox, III |
| Chief Financial Officer |
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EXHIBIT INDEX
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Exhibit | | Description |
10.1 | | Purchase and Sales Agreement, dated as of April 4, 2016 by and between Market Place Boulevard, Irving, LLC and Hartman Short Term Income Properties XX, Inc. |
