Hartman Short Term Income Properties XX (HARXX) 10-K 13 May 20 2019 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2019	Mar. 31, 2020	Jun. 30, 2019
Document and Entity Information:
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Fiscal Period Focus	FY
Entity File Number	000-53912
Entity Registrant Name	HARTMAN SHORT TERM INCOME PROPERTIES XX, INC.
Entity Incorporation, State or Country Code	MD
Entity Address, Address Line One	2909 Hillcroft
Entity Address, Address Line Two	Suite 420
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Tax Identification Number	26-3455189
Entity Address, Postal Zip Code	77057
City Area Code	713
Local Phone Number	467-2222
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2019
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Amendment Flag	false
Entity Central Index Key	0001446687
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		18,417,687
Entity Public Float			$ 0
Entity Ex Transition Period	false
Document Fiscal Year Focus	2019

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Real estate assets, at cost	$ 594,569	$ 583,112
Accumulated depreciation and amortization	(117,652)	(89,840)
Real estate assets, net	476,917	493,272
Cash and cash equivalents	1,033	17,780
Restricted cash	26,078	33,696
Accrued rent and accounts receivable, net	12,576	11,881
Notes receivable - related party	17,288	6,676
Deferred leasing commission costs, net	10,790	8,301
Goodwill	250	250
Prepaid expenses and other assets	735	1,249
Due from related parties	2,130	0
Investment in affiliate	8,978	8,978
Total assets	556,775	582,083
Liabilities:
Notes payable, net	303,039	305,907
Due to related parties	0	1,496
Accounts payable and accrued expenses	23,444	21,335
Tenants' security deposits	5,286	4,864
Total liabilities	331,769	333,602
Commitments and contingencies (Note 14)
Stockholders' equity:
Preferred stock, $0.001 par value, 200,000,000 convertible, non-voting shares authorized, 1,000 shares issued and outstanding at December 31, 2019 and December 31, 2018, respectively	0	0
Common stock, $0.001 par value, 750,000,000 authorized, 18,417,687 shares and 17,711,384 shares issued and outstanding at December 31, 2019 and December 31, 2018, respectively	18	18
Additional paid-in capital	174,019	165,084
Accumulated distributions and net loss	(109,406)	(95,162)
Total stockholders' equity	64,631	69,940
Non-controlling interests	160,375	178,541
Total equity	225,006	248,481
Total liabilities and equity	$ 556,775	$ 582,083

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Convertible, non-voting shares authorized (in shares)	200,000,000	200,000,000
Preferred stock, shares issued (in shares)	1,000	1,000
Preferred stock, shares outstanding (in shares)	1,000	1,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	750,000,000	750,000,000
Common stock, shares issued (in shares)	18,417,687	17,711,384
Common stock, shares outstanding (in shares)	18,417,687	17,711,384

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Revenues
Rental revenues	$ 72,045	$ 49,112
Tenant reimbursements and other revenues	14,679	7,910
Total revenues	86,724	57,022
Expenses (income)
Property operating expenses	31,721	18,613
Asset management fees	1,760	1,760
Real estate taxes and insurance	13,545	9,412
Depreciation and amortization	27,812	16,700
General and administrative	5,901	4,099
Interest expense	13,834	11,306
Interest and dividend income	(1,854)	(1,328)
Total expenses, net	92,719	60,562
Net loss	(5,995)	(3,540)
Net loss attributable to noncontrolling interest	(4,562)	(2,713)
Net loss attributable to common stockholders	$ (1,433)	$ (827)
Net loss attributable to common stockholders per share (in dollars per share)	$ (0.08)	$ (0.05)
Weighted average number of common shares outstanding, basic and diluted (in shares)	18,304	17,946

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Distributions and Net Loss	Total Stockholders’ Equity	Non-controlling Interest
Stockholders' equity, beginning balance at Dec. 31, 2017	$ 100,039	$ 0	$ 18	$ 167,871	$ (81,188)	$ 86,701	$ 13,338
Shares outstanding, beginning balance (in shares) at Dec. 31, 2017		1	18,004
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Redemption of common shares (in shares)			(298)
Redemption of common shares	(2,864)			(2,864)		(2,864)
Issuance of common shares (in shares)			6
Issuance of common shares	77			77		77
Purchase of non-controlling Interest	167,968						167,968
Dividends and distributions (cash)	(13,199)				(12,555)	(12,555)	(644)
Net loss	(3,540)				(1,419)	(1,419)	(2,121)
Shares outstanding, ending balance (in shares) at Dec. 31, 2018		1	17,712
Stockholders' equity, ending balance at Dec. 31, 2018	248,481	$ 0	$ 18	165,084	(95,162)	69,940	178,541
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares (in shares)			6
Issuance of common shares	76			76		76
Purchase of non-controlling interest (in shares)			700
Purchase of non-controlling Interest				8,859		8,859	(8,859)
Dividends and distributions (cash)	(17,556)				(12,811)	(12,811)	(4,745)
Net loss	(5,995)				(1,433)	(1,433)	(4,562)
Shares outstanding, ending balance (in shares) at Dec. 31, 2019		1	18,418
Stockholders' equity, ending balance at Dec. 31, 2019	$ 225,006	$ 0	$ 18	$ 174,019	$ (109,406)	$ 64,631	$ 160,375

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net loss	$ (5,995)	$ (3,540)
Adjustments to reconcile net income to net cash provided by operating activities:
Stock based compensation	77	74
Depreciation and amortization	27,812	16,700
Deferred loan and lease commission costs amortization	3,558	2,981
Bad debt (recovery) provision, net	1,674	(4)
Changes in operating assets and liabilities:
Accrued rent and accounts receivable	(2,369)	(3,929)
Deferred leasing commissions	(4,948)	(4,037)
Prepaid expenses and other assets	(21)	20,264
Accounts payable and accrued expenses	2,069	9,369
Due to/from related parties	(3,626)	6,001
Tenants' security deposits	422	272
Net cash provided by operating activities	18,653	44,151
Cash flows from investing activities:
Acquisition deposits	535	(535)
Advance to affiliate - related party	(10,612)	0
Repayment of note receivable - related party	0	3,039
Lender required capital reserves	0	(10,405)
Additions to real estate	(11,457)	(8,940)
Net cash used in investing activities	(21,534)	(16,841)
Cash flows from financing activities:
Distributions to common stockholders	(12,772)	(12,555)
Distributions to non-controlling interest	(4,745)	(658)
Borrowings under insurance premium finance note	1,577	0
Repayments under insurance premium finance note	(1,577)	0
Payments of deferred loan costs	(72)	(4,734)
Repayments under term loan notes	(8,295)	(40,165)
Borrowing from affiliate	4,400	0
Borrowings under term loan notes	0	259,000
Borrowings under revolving credit facility	0	11,525
Repayments under revolving credit advances	0	(45,225)
Lender reserve for Promenade payoff	0	(10,273)
Proceeds from issuance of common stock, net of redemptions	0	(2,859)
Repayments of consolidating notes payable	0	(135,453)
Net cash (used in) provided by financing activities	(21,484)	18,603
Net change in cash and cash equivalents and restricted cash	(24,365)	45,913
Cash and cash equivalents and restricted cash, beginning of period	51,476	5,563
Cash and cash equivalents and restricted cash, end of period	27,111	51,476
Supplemental cash flow information:
Cash paid for interest	12,663	7,670
Cash paid for prepayment of refinanced debt (included in interest expense)	0	2,323
Security deposits	0	2,708
Additions to real estate	0	313,230
Note payable - Promenade property	0	7,101
Decrease in distribution payable	0	(15)
Issuance of SPE membership interests	0	167,967
Value of Director's stock compensation shares issued	76	0
Value of Common shares issued to acquire non-controlling interest	8,859	0
Acquisition of non-controlling interest	$ (8,859)	$ 0

Organization and Business

Organization and Business	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	Organization and Business Hartman Short Term Income Properties XX, Inc. (the “Company”), is a Maryland corporation formed on February 5, 2009. The Company elected to be treated as a real estate investment trust (“REIT”) beginning with the taxable year ended December 31, 2011. As used herein, the "Company," "we," "us," or "our" refer to Hartman Short Term Income Properties XX, Inc. and its consolidated subsidiaries and partnerships, including the Operating Partnership and SPE LLC, except where context requires otherwise. On July 19, 2018, we entered into a limited liability company agreement with our affiliates Hartman Income REIT, Inc. (“HIREIT”), Hartman Short Term Income Properties XIX, Inc. (“Hartman XIX”) and Hartman vREIT XXI, Inc. (“vREIT XXI”) to form Hartman SPE, LLC ("SPE LLC"), a special purpose entity. On October 1, 2018, SPE LLC, as borrower, and Goldman Sachs Mortgage Company entered into a term loan agreement, pursuant to which the lender made a term loan to SPE LLC in the principal amount of $259,000,000. Contemporaneously therewith and together with our affiliates HIREIT, Hartman XIX and vREIT XXI, we contributed a total of 39 commercial real estate properties ("Properties") to SPE, LLC, subject to the then existing mortgage indebtedness encumbering the Properties, in exchange for membership interests in SPE LLC. Proceeds of the Loan were immediately used to extinguish the existing mortgage indebtedness encumbering the Properties. Substantially all of our business is conducted through our wholly owned subsidiary, Hartman XX Limited Partnership, a Texas limited partnership (the “Operating Partnership”) and SPE LLC. Our wholly-owned subsidiary, Hartman XX REIT GP LLC, a Texas limited liability company, is the sole general partner of the Operating Partnership. We are the sole limited partner of the Operating Partnership. Our wholly-owned subsidiary, Hartman SPE Management, LLC ("SPE Management") is the manager of SPE LLC. Our single member interests in our limited liability company subsidiaries are owned by the Operating Partnership or its wholly owned subsidiaries. Subject to certain restrictions and limitations, Hartman Advisors LLC ("Advisor") is responsible for managing our affairs on a day-to-day basis and for identifying and making acquisitions and investments on our behalf pursuant to an advisory agreement (the “Advisory Agreement”) by and among the Company and Advisor. Management of the Company’s properties and the Properties, is provided pursuant to property management agreements with Hartman Income REIT Management, Inc. (the "Property Manager"), a wholly-owned subsidiary of HIREIT. As of December 31, 2019 and 2018, we owned 43 commercial properties comprising approximately 6.7 million square feet plus three pad sites, all located in Texas. As of December 31, 2019 and 2018, we owned 15 properties located in Richardson, Arlington, and Dallas, Texas, 25 properties located in Houston, Texas and three properties located in San Antonio, Texas. On July 21, 2017, the Company and Hartman XIX, entered into an agreement and plan of merger (the “XIX Merger Agreement”) and (ii) the Company, the Operating Partnership, HIREIT and Hartman Income REIT Operating Partnership LP, the operating partnership of HIREIT, (“HIROP”), entered into an agreement and plan of merger (the “HIREIT Merger Agreement,” and together with the XIX Merger Agreement, the “Merger Agreements”). Subject to the terms and conditions of the XIX Merger Agreement, including the satisfaction of all closing conditions set forth in the Merger Agreements, Hartman XIX will merge with and into the Company, with the Company surviving the merger (the “Hartman XIX Merger”). Subject to the terms and conditions of the HIREIT Merger Agreement, (i) HIREIT will merge with and into the Company, with the Company surviving the merger (the “HIREIT Merger,” and together with the Hartman XIX Merger, the “REIT Mergers”), and (ii) HIROP will merge and with and into the Operating Partnership, with the Operating Partnership surviving the merger (the “Partnership Merger,” and together with the REIT Mergers, the “Mergers”). The REIT Mergers are intended to qualify as a “reorganization” under, and within the meaning of, Section 368(a) of the Internal Revenue Code of 1986, as amended (the “Code”), and the Partnership Merger is intended to be treated as a tax-deferred exchange under Section 721 of the Code. Subject to the terms and conditions of the XIX Merger Agreement, (i) each share of common stock of Hartman XIX (the “XIX Common Stock”) issued and outstanding immediately prior to the Effective Time (as defined in the XIX Merger Agreement) will be automatically cancelled and retired and converted into the right to receive 9,171.98 shares of common stock, $0.01 par value per share, of the Company (“Company Common Stock”), (ii) each share of 8% cumulative preferred stock of Hartman XIX issued and outstanding immediately prior to the Effective Time will be automatically cancelled and retired and converted into the right to receive 1.238477 shares of Company Common Stock, and (iii) each share of 9% cumulative preferred stock of Hartman XIX issued and outstanding immediately prior to the Effective Time will be automatically cancelled and retired and converted into the right to receive 1.238477 shares of Company Common Stock. Subject to the terms and conditions of the HIREIT Merger Agreement, (a) in connection with the HIREIT Merger, (i) each share of common stock of HIREIT (the “HIREIT Common Stock”) issued and outstanding immediately prior to the REIT Merger Effective Time (as defined in the HIREIT Merger Agreement) will be automatically cancelled and retired and converted into the right to receive 0.752222 shares of Company Common Stock, and (ii) each share of subordinate common stock of HIREIT will be automatically cancelled and retired and converted into the right to receive 0.752222 shares of Company Common Stock, and (b) in connection with the Partnership Merger, each unit of limited partnership interest in HIREIT Operating Partnership (“HIREIT OP Units”) issued and outstanding immediately prior to the Partnership Merger Effective Time (as defined in the HIREIT Merger Agreement) (other than any HIREIT OP Units held by HIREIT) will be automatically cancelled and retired and converted into the right to receive 0.752222 validly issued, fully paid and non-assessable units of limited partnership interests in XX Operating Partnership. On February 14, 2020, the Company's joint proxy statement and prospectus was declared effective by the Securities and Exchange Commission. The meeting of the shareholder's of the Company, HIREIT and XIX will be held on May 14, 2020.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements as of December 31, 2019 and 2018 and for the years then ended have been prepared by the Company in accordance with accounting principles generally accepted in the United States and pursuant to the rules and regulations of the Securities and Exchange Commission, including Form 10-K and Regulation S-K. The information furnished herein reflects all adjustments (consisting of normal recurring accruals and adjustments), which are, in the opinion of management, necessary to fairly present the operating results for the respective periods. These consolidated financial statements include the accounts of the Company, the Operating Partnership and its subsidiaries, and SPE LLC. All significant intercompany balances and transactions have been eliminated. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents on the accompanying consolidated balance sheets include all cash and liquid investments with maturities of three months or less. Cash and cash equivalents as of December 31, 2019 and 2018 consisted of demand deposits at commercial banks. We maintain accounts which may from time to time exceed federally insured limits. We have not experienced any losses in these accounts and believe that the company is not exposed to any significant credit risk and regularly monitors the financial stability of these financial institutions. Restricted Cash Restricted cash on the accompanying consolidated balance sheets consists of amounts escrowed for future real estate taxes, insurance, capital expenditures and debt service, as required by certain of our mortgage debt agreements. As of December 31, 2019 and 2018, the Company had a restricted cash balance of $26,078,000 and $33,696,000, respectively. Financial Instruments The accompanying consolidated balance sheets include the following financial instruments: cash and cash equivalents, accrued rent and accounts receivable, accounts payable and accrued expenses and balances due to/ due from related parties, as well as related party notes receivable. The Company considers the carrying value of these financial instruments to approximate their respective fair values due to their short-term nature. Disclosure about the fair value of financial instruments is based on relevant information available as of December 31, 2019 and 2018. Revenue Recognition The Company's leases are accounted for as operating leases. Certain leases provide for tenant occupancy during periods for which no rent is due and/or for increases or decreases in the minimum lease payments over the terms of the leases. Revenue is recognized on a straight-line basis over the terms of the individual leases. Revenue recognition under a lease begins when the tenant takes possession of or controls the physical use of the leased space. When the Company acquires a property, the term of existing leases is considered to commence as of the acquisition date for the purposes of this calculation. The Company's accrued rents are included in accrued rent and accounts receivable, net. The Company defers the recognition of contingent rental income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. Cost recoveries from tenants are included in the Tenant Reimbursement and Other Revenues line item in the consolidated statements of operations in the period the related costs are incurred. As of January 1, 2018, the Company adopted Accounting Standards Update (“ASU”) 2014-9, Revenue from Contracts with Customers, (“ASU 2014-9”) which amends the guidance for revenue recognition to eliminate the industry-specific revenue recognition guidance and replace it with a principle based approach for determining revenue recognition. The Company adopted ASU 2014-9 effective January 1, 2018 using the modified retrospective approach and the adoption of this guidance did not have a material impact on the consolidated financial statements. The Company’s revenue is primarily derived from leasing activities, which is specifically excluded from ASU 2014-9. The Company’s other revenue is comprised of tenant reimbursements for real estate taxes, insurance, common area maintenance, and operating expenses. Reimbursements from real estate taxes and certain other expenses are also excluded from of ASU 2014-9. Additionally, the Company’s property dispositions have historically been cash sales with no contingencies and no future involvement in the property, as a result, the new guidance did not have an effect on the Company’s real estate transactions, however, the Company will account future sales of real estate properties in accordance with requirements of ASU 2014-9. Real Estate Allocation of Purchase Price of Acquired Assets Upon the acquisition of real properties, it is the Company’s policy to allocate the purchase price of properties to acquired tangible assets, consisting of land and buildings, and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases, other value of in-place leases and leasehold improvements and value of tenant relationships, based in each case on their fair values. The Company utilizes internal valuation methods to determine the fair values of the tangible assets of an acquired property (which includes land and buildings). The fair values of above-market and below-market in-place lease values, including below-market renewal options for which renewal has been determined to be reasonably assured, are recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (a) the contractual amounts to be paid pursuant to the in-place leases and (b) an estimate of fair market lease rates for the corresponding in-place leases and below-market renewal options, which is generally obtained from independent appraisals, measured over a period equal to the remaining non-cancelable term of the lease. The above-market and below-market lease and renewal option values are capitalized as intangible lease assets or liabilities and amortized as an adjustment of rental revenue over the remaining expected terms of the respective leases. The fair values of in-place leases include direct costs associated with obtaining a new tenant, opportunity costs associated with lost rentals which are avoided by acquiring an in-place lease, and tenant relationships. Direct costs associated with obtaining a new tenant include commissions, tenant improvements, and other direct costs and are estimated based on independent appraisals and management’s consideration of current market costs to execute a similar lease. These direct costs are included in intangible lease assets and are amortized to expense over the remaining terms of the respective leases. The value of opportunity costs is calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease. Customer relationships are valued based on expected renewal of a lease or the likelihood of obtaining a particular tenant for other locations. These intangibles are included in real estate assets in the consolidated balance sheets and are being amortized to expense over the remaining term of the respective leases. The determination of the fair values of the assets and liabilities acquired requires the use of significant assumptions with regard to the current market rental rates, rental growth rates, discount rates and other variables. The use of inappropriate estimates would result in an incorrect assessment of the purchase price allocations, which could impact the amount of the Company’s reported net loss. Real Estate Joint Ventures and Partnerships To determine the method of accounting for partially owned real estate joint ventures and partnerships, management determines whether an entity is a VIE and, if so, determines which party is the primary beneficiary by analyzing whether we have both the power to direct the entity’s significant economic activities and the obligation to absorb potentially significant losses or receive potentially significant benefits. Significant judgments and assumptions inherent in this analysis include the design of the entity structure, the nature of the entity’s operations, future cash flow projections, the entity’s financing and capital structure, and contractual relationships and terms. We consolidate a VIE when we have determined that we are the primary beneficiary. Primary risks associated with our involvement with our VIEs include the potential funding of the entities’ debt obligations or making additional contributions to fund the entities’ operations or capital activities. Partially owned, non-variable interest real estate joint ventures and partnerships over which we have a controlling financial interest are consolidated in our consolidated financial statements. In determining if we have a controlling financial interest, we consider factors such as ownership interest, authority to make decisions, kick-out rights and substantive participating rights.Partially owned real estate joint ventures and partnerships where we do not have a controlling financial interest, but have the ability to exercise significant influence, are accounted for using the equity method. Management continually analyzes and assesses reconsideration events, including changes in the factors mentioned above, to determine if the consolidation or equity method treatment remains appropriate. Depreciation and amortization Depreciation is computed using the straight-line method over the estimated useful lives of 5 to 39 years for buildings and improvements. Tenant improvements are depreciated using the straight-line method over the lesser of the life of the improvement or the remaining term of the lease. In-place leases are amortized using the straight-line method over the weighted average years remaining calculated on terms of all of the leases in-place when acquired. Impairment The Company reviews its real estate assets for impairment at least annually or whenever events or changes in circumstances indicate that the carrying amount of the assets, including accrued rental income, may not be recoverable through operations. The Company determines whether an impairment in value has occurred by comparing the estimated future cash flows (undiscounted and without interest charges), including the estimated residual value of the property, with the carrying cost of the property. If impairment is indicated, a loss will be recorded for the amount by which the carrying value of the property exceeds its fair value. Management has determined that there has been no impairment in the carrying value of the Company’s real estate assets as of December 31, 2019 and 2018. Projections of expected future cash flows require management to estimate future market rental income amounts subsequent to the expiration of current lease agreements, property operating expenses, discount rates, the number of months it takes to release the property and the number of years the property is held for investment. The use of inappropriate assumptions in the future cash flow analysis would result in an incorrect assessment of the property’s future cash flow and fair value and could result in the overstatement of the carrying value of our real estate and related intangible assets and net income. Fair Value Measurement Fair value measures are classified into a three-tiered fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices in active markets. Level 2: Directly or indirectly observable inputs, other than quoted prices in active markets. Level 3: Unobservable inputs in which there is little or no market data, which require a reporting entity to develop its own assumptions. Assets and liabilities measured at fair value are based on one or more of the following valuation techniques: Market approach: Prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. Cost approach: Amount required to replace the service capacity of an asset (replacement cost). Income approach: Techniques used to convert future amounts to a single amount based on market expectations (including present-value, option-pricing, and excess-earnings models). The Company’s estimates of fair value were determined using available market information and appropriate valuation methods. Considerable judgment is necessary to interpret market data and develop estimated fair value. The use of different market assumptions or estimation methods may have a material effect on the estimated fair value amounts. The Company classifies assets and liabilities in the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement. Accrued Rent and Accounts Receivable, net Included in accrued rent and accounts receivable are base rents, tenant reimbursements and receivables attributable to recording rents on a straight-line basis. An allowance for the uncollectible portion of accrued rent and accounts receivable is determined based upon customer credit-worthiness (including expected recovery of the Company’s claim with respect to any tenants in bankruptcy), historical bad debt levels, and current economic trends. Deferred Leasing Commissions Costs, net Leasing commissions are capitalized and amortized using the straight-line method over the term of the related lease agreements. Goodwill GAAP requires the Company to test goodwill for impairment at least annually or more frequently whenever events or circumstances occur indicating goodwill might be impaired. The Company applies a one-step quantitative assessment to determine if the estimated fair value is less than the carrying amount. If the carrying amount exceeds the estimated fair value, the Company will record a goodwill impairment equal to such excess, not to exceed the total amount of goodwill. No goodwill impairment has been recognized in the accompanying consolidated financial statements. Noncontrolling Interests Noncontrolling interests is the portion of equity in a subsidiary not attributable to a parent. The ownership interests not held by the parent are considered noncontrolling interests. Accordingly, the Company has reported noncontrolling interests in equity on the consolidated balance sheets but separate from the Company's equity. On the consolidated statements of operations, subsidiaries are reported at the consolidated amount, including both the amount attributable to the Company and noncontrolling interests. Stock-Based Compensation The Company follows Accounting Standards Codification ("ASC") 718- Compensation- Stock Compensation, with regard to issuance of stock in payment of services. ASC 718 requires that compensation cost relating to share-based payment transactions be recognized in the consolidated financial statements. The compensation cost is measured based on the estimated grant date fair value, as of the grant date of the Company’s common stock, of the equity or liability instruments issued. Stock-based compensation expense are recorded over the vesting period and is included in general and administrative expense in the accompanying consolidated statements of operations. Income Taxes The Company has elected to be treated as a REIT under the Internal Revenue Code of 1986, as amended, beginning with its taxable year ended December 31, 2011. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the Company’s annual REIT taxable income to stockholders (which is computed without regard to the dividends-paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax on income that it distributes as dividends to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost, unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially and adversely affect the Company’s net income and net cash available for distribution to stockholders. However, the Company believes that it is organized and will continue to operate in such a manner as to qualify for treatment as a REIT. For the years ended December 31, 2019 and 2018, the Company incurred a net loss of $5,995,000 and $3,540,000. The Company formed a taxable REIT subsidiary which may generate future taxable income which may be offset by the net loss carry forward. The Company considers that any deferred tax benefit and corresponding deferred tax asset which may be recorded in light of the net loss carry forward would be properly offset by an equal valuation allowance. Accordingly, no deferred tax benefit or deferred tax asset has been recorded in the consolidated financial statements. The Company is required to recognize in its consolidated financial statements the financial effects of a tax position only if it is determined that it is more likely than not that the tax position will not be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Management has reviewed the Company’s tax positions and is of the opinion that material positions taken by the Company would more likely than not be sustained upon examination. Accordingly, the Company has not recognized a liability related to uncertain tax positions. Loss Per Share The computations of basic and diluted loss per common share are based upon the weighted average number of common shares outstanding and potentially dilutive securities.The Company’s potentially dilutive securities include preferred shares that are convertible into the Company’s common stock. As of December 31, 2019 and 2018, there were no shares issuable in connection with these potentially dilutive securities. These potentially dilutive securities were excluded from the computations of diluted net loss per share for the years ended December 31, 2019 and 2018 because no shares are issuable and inclusion of such potentially dilutive securities would have been anti-dilutive. Concentration of Risk The geographic concentration of the Company’s real estate assets makes it susceptible to adverse economic developments in the State of Texas. Any adverse economic or real estate developments in these markets, such as business layoffs or downsizing, relocation of businesses, increased competition or any other changes, could adversely affect the Company’s operating results and its ability to make distributions to stockholders. Going Concern Evaluation Pursuant to ASU 2014-15, “Presentation of Financial Statements – Going Concern,” management is required to evaluate the Company’s ability to continue as a going concern within one year after the date that these consolidated financial statements are issued. The Hartman SPE LLC loan agreement (“SPE Loan”) has an initial maturity date of October 9, 2020. The SPE Loan provides for three successive one As of December 31, 2019 and March 31, 2020, Hartman SPE has a debt yield of 13.29% and 12.95%, respectively. In response to the coronavirus outbreak and related economic disruption, the Company has undertaken cost reduction and avoidance measures which began in March 2020. Management expects the test period debt calculation to be 12.5% or greater which will allow the Company to exercise the extension option based solely on the terms of the loan agreement. If the debt yield calculation as of the end of the June 30, 2020 test period is less than 12.5%, management believes that the lender will agree to a one Management has concluded that there is substantial doubt about the Company's ability to continue as a going concern within one year of the issuance date of these consolidated financial statements due to the fact of the uncertainty regarding the loan maturity of the SPE Loan. Management believes that Hartman SPE will be able to extend the maturity date for one Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2016-2, Leases, along with various subsequent ASUs, which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e., lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification will determine whether the lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for in the same manner as the previous guidance for operating leases today. The Company adopted ASU 2016-02 on January 1, 2019, using the modified retrospective transition method such that we applied the standard as of the adoption date. The Company adopted the new standard using the practical expedient package which allowed the Company, as both the lessor and lessee to 1) not reassess whether any expired or existing contracts are or contain leases; 2) not reassess the lease classification for any expired or existing leases; and 3) not reassess initial direct costs for any existing leases. As of December 31, 2019, the Company, through SPE LLC has a ground lease for a parking lot located adjacent to the property at 601 Sawyer, Houston, Texas. The parking lot lease agreement expires at the end of September 2020. The Sawyer property is included in the Company’s consolidated financial statements as of December 31, 2019 and for the year ended December 31, 2019 because of the consolidation of SPE with the Company. SPE commenced operations and is consolidated with the Company for periods beginning after September 30, 2018. Lease payments under the parking lot lease agreement are $3,500 per month. As of December 31, 2019, 9 monthly payments remain under the lease agreement for a total of $31,500. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. In connection with the new revenue guidance (ASC 606), the new revenue standard will apply to other components of revenue deemed to be non-lease components. Under the new guidance, we will continue to recognize the lease components of lease revenue on a straight-line basis over our respective lease terms as we do under prior guidance. However, we would recognize these non-lease components under the new revenue guidance as the related services are delivered. As a result, the total revenue recognized over time would not differ under the new guidance. This does not result in a difference from how the Company has historically recognized revenue for these lease and non-lease components. Additionally, ASU 2016-2 requires that lessees and lessors capitalize, as initial direct costs, only those costs that are incurred due to the execution of a lease. Under ASU 2016-2, allocated payroll costs and other costs that are incurred regardless of whether the lease is obtained will no longer be capitalized as initial direct costs and instead will be expensed as incurred. This does not result in a difference from how the Company has historically recognized lease acquisition costs. On January 1, 2019, the Company adopted ASU 2018-07, "Improvements to Non-employee Stock-Based Payment Accounting." The updated guidance simplifies aspects of share-based compensation issued to non-employees by making the guidance consistent with the accounting for employee share-based compensation. The adoption of this guidance had no impact on our consolidated financial statements. On January 1, 2019, the Company adopted ASU 2017-12, "Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities". The purpose of this updated guidance is to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. The transition guidance provides companies with the option of either adopting the new standard early using a modified retrospective transition method in any interim period after issuance of the update, or alternatively adopting the new standard for fiscal years beginning after December 15, 2018. The adoption of this guidance had no impact on our consolidated financial statements. On January 1, 2018, the Company adopted ASU 2014-9, codified in Accounting Standards Codification (“ASC”) 606 - “Revenue from Contracts with Customers,” which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-9 replaces most existing revenue recognition guidance under GAAP. The standard permits the use of either the retrospective or cumulative effect transition method. Certain contracts with customers, principally lease contracts, are not within the scope of the new guidance. The Company has elected to use the modified retrospective method. The adoption of ASU 2014-9 has no impact on the Company’s consolidated financial statements on adoption” at January 1, 2018. On January 1, 2018, the Company adopted ASU 2016-17, “Interest Held Through Related Parties That Are Under Common Control,” issued by the FASB, which amends the accounting guidance when determining the treatment of certain VIE’s to include the interest of related parties under common control in a VIE when considering whether or not the reporting entity is the primary beneficiary of the VIE when considering consolidation. In connection with our adoption of ASU 2016-17, we have determined that SPE LLC is a VIE and that the Company is the primary beneficiary. Accordingly, the accounts of SPE LLC are included in our consolidated financial position as of December 31, 2018 and beginning October 1, 2018, in our consolidated results of operations. The Company and its affiliates, Hartman XIX and HIREIT, are guarantors of the SPE LLC note payable. In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments. The updated guidance requires measurement and recognition of expected credit losses for financial assets, including trade and other receivables, held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This is different from the current guidance as this will require immediate recognition of estimated credit losses expected to occur over the remaining life of many financial assets. Generally, the pronouncement requires a modified retrospective method of adoption. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2019, with early adoption permitted. In identifying all our financial instruments covered under this guidance, the majority of our instruments result from operating leasing transactions, which are not within the scope of the new standard and are to remain governed by the recently issued leasing guidance and other previously issued guidance. The adoption of this guidance had no impact on our consolidated financial statements. Reclassification Certain items in the comparative consolidated financial statements have been reclassified to conform to the presentation adopted in the current period. Restricted cash reporting line was added on the face of the consolidated balance sheets. The balance currently reported as restricted cash was reported previously in the prepaid expenses and

Real Estate

Real Estate	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
Real Estate	Real Estate The Company's real estate assets consisted of the following, in thousands: December 31, 2019 2018 Land $ 145,050 $ 145,050 Buildings and improvements 348,729 337,272 In-place lease value intangible 100,790 100,790 594,569 583,112 Less accumulated depreciation and amortization (117,652) (89,840) Total real estate assets $ 476,917 $ 493,272 Depreciation expense for the years ended December 31, 2019 and 2018 was $16,917,000 and $8,900,000, respectively. The Company identifies and records the value of acquired lease intangibles at the property acquisition date. Such intangibles include the value of acquired in-place leases and above and below-market leases. Acquired lease intangibles are amortized over the leases' remaining terms. With respect to all properties owned by the Company, the Company considers all of the in-place leases to be market rate leases. The amount of total in-place lease intangible asset and the respective accumulated amortization are as follows, in thousands: December 31, 2019 2018 In-place lease value intangible $ 100,790 $ 100,790 Less: In-place leases – accumulated amortization (68,884) (57,989) Acquired lease intangible assets, net $ 31,906 $ 42,801 The estimated aggregate future amortization amounts from acquired lease intangibles are as follows, in thousands: December 31, In-place lease amortization 2020 $ 10,459 2021 8,410 2022 7,454 2023 5,583 2024 — Total $ 31,906 Amortization expense for the year ended December 31, 2019 and 2018 was $10,895,000 and $7,799,000, respectively. As of December 31, 2019 and 2018, we owned or held a majority interest in 43 commercial properties comprising approximately 6.7 million square feet plus three pad sites, all located in Texas. As of December 31, 2019 and 2018, we owned 15 properties located in Richardson, Arlington, and Dallas, Texas, 25 properties located in Houston, Texas and three properties located in San Antonio, Texas. Acquisition fees earned by the Advisor were $0 for both the years ended December 31, 2019 and 2018, respectively. Asset management fees earned by the Advisor for the year year ended December 31, 2019 and 2018, respectively was $1,760,000 and $1,760,000. Asset management fees are captioned as such in the accompanying consolidated statements of operations for the years ended December 31, 2019 and 2018, respectively. The Company’s indirect wholly owned subsidiary, Hartman Richardson Heights Properties, LLC (“HRHP LLC”), and the City of Richardson, Texas are parties to an economic development incentive agreement. Under the terms of the agreement, the City of Richardson paid annual grants to HRHP LLC in equal installments over a 5 year period of $1,500,000 and pays sales tax grants, paid annually over the first 10 years of the Alamo Draft House lease. For the years ended December 31, 2019 and 2018, HRHP LLC received sales tax grant proceeds of $66,000 and $82,000 for the 2019 and 2018 incentive agreement fiscal years, respectively, which are included in tenant reimbursements and other revenues on the consolidated statements of operations. Payments received by the Company in the form of annual grants and annual sales tax grants are subject to refund or adjustment during the term of the economic development incentive agreement. In general, the incentive agreement provides that the Company must continue to be in good standing with respect to the terms and conditions of the agreement and that the Alamo Draft House lessee must continue as a tenant of the Richardson Heights Property during the term of its lease agreement. As of December 31, 2019, no uncured breach or default exists under the terms of the incentive agreement and the Company has no liability or other obligation to repay any grants received under the agreement.

Accrued Rent and Accounts Recei

Accrued Rent and Accounts Receivable, net	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Accrued Rent and Accounts Receivable, net	Accrued Rent and Accounts Receivable, net Accrued rent and accounts receivable, net, consisted of the following, in thousands: December 31, 2019 2018 Tenant receivables $ 5,929 $ 5,205 Accrued rent 9,244 8,386 Allowance for uncollectible accounts (2,597) (1,710) Accrued rents and accounts receivable, net $ 12,576 $ 11,881 As of December 31, 2019 and 2018, the Company had an allowance for uncollectible accounts of $2,597,000 and $1,710,000, respectively. For the years ended December 31, 2019 and 2018, the Company recorded bad debt expense (recovery) of $1,674,000 and $(4,000), respectively, related to tenant receivables that the Company have specifically identified as potentially uncollectible based on the Company’s assessment of each tenant’s credit-worthiness. Bad debt expenses and any related recoveries are included in property operating expenses in the accompanying consolidated statements of operations.

Deferred Leasing Commission Cos

Deferred Leasing Commission Costs, net	12 Months Ended
	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred Leasing Commission Costs, net	Deferred Leasing Commission Costs, net Costs which have been deferred consist of the following, in thousands: December 31, 2019 2018 Deferred leasing commissions $ 17,620 $ 12,671 Less: accumulated amortization (6,830) (4,370) Deferred leasing commission costs, net $ 10,790 $ 8,301

Future Minimum Rents

Future Minimum Rents	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Future Minimum Rents	Future Minimum Rents The Company leases the majority of its properties under noncancellable operating leases which provide for minimum base rentals.A summary of minimum future rentals to be received (exclusive of renewals, tenant reimbursements, and contingent rentals) under noncancellable operating leases in existence at December 31, 2019 is as follows, in thousands: December 31, Minimum Future Rents 2020 $ 69,973,000 2021 61,237,000 2022 49,396,000 2023 37,477,000 2024 25,851,000 Thereafter 39,785,000 Total $ 283,719,000

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Notes Payable	Notes Payable The Operating Partnership is a party to four, cross-collateralized, term loan agreements with an insurance company. The term loans are secured by the Richardson Heights Property, the Cooper Street Property, the Bent Tree Green Property and the Mitchelldale Property. The loans require monthly payments of principal and interest due and payable on the first day of each month. Monthly payments are based on a 27-year loan amortization. Each of the loan agreements are subject to customary covenants, representations and warranties which must be maintained during the term of the loan agreements. Each of the loan agreements provides for a fixed interest rate of 4.61%. As of December 31, 2019, we were in compliance with all loan covenants. Each of the loan agreements are secured by a deed of trust, assignment of licenses, permits and contracts, assignment and subordination of the management agreements and assignment of rents.The terms of the security instruments provide for the cross collateralization/cross default of the each of the loans. The outstanding balance of the four loans was $43,393,000 and $44,584,000 as of December 31, 2019 and 2018, respectively. On October 1, 2018, the Company through SPE LLC and Goldman Sachs Mortgage Company entered into a $259,000,000 term loan agreement. The Company together with its affiliates HIREIT, Hartman XIX and vREIT XXI, contributed a total of 39 commercial real estate properties ("Properties") to SPE, LLC, a recently formed Delaware limited liability company, subject to the mortgage indebtedness encumbering the Properties, in exchange for membership interests in SPE LLC. Proceeds of the Loan were immediately used to extinguish the existing mortgage indebtedness encumbering the Properties. The term of the loan is five years, comprised of an initial two one The outstanding principal of the loan bears interest at the one-month LIBOR rate plus 1.8%. As a condition to the funding of the Loan, SPE LLC has entered into an interest rate cap arrangement with SMBC Capital Markets, Inc. that caps LIBOR at 3.75% during the initial term of the Loan. The Loan Agreement contains various customary covenants, including but not limited to financial covenants, covenants requiring monthly deposits in respect of certain property costs, such as taxes, insurance, tenant improvements, and leasing commissions, covenants imposing restrictions on indebtedness and liens, and restrictions on investments and participation in other asset disposition, merger or business combination or dissolution transactions. The Loan Agreement is secured by, among other things, mortgages on the Properties. The Company, HIREIT and Hartman XIX, entered into a guaranty agreement in favor of the lender, whereby each guarantor unconditionally guaranties the full and timely performance of the obligations set forth in the loan agreement and all other loan documents, including the payment of all indebtedness and obligations due under the loan agreement. The following is a summary of the mortgage notes payable, in thousands: December 31, Property/Facility Payment (1) Maturity Date Rate 2019 2018 Richardson Heights (2) P&I July 1, 2041 4.61 % $ 17,260 $ 17,760 Cooper Street (2) P&I July 1, 2041 4.61 % $ 7,435 $ 7,632 Bent Tree Green (2) P&I July 1, 2041 4.61 % $ 7,435 $ 7,632 Mitchelldale (2) P&I July 1, 2041 4.61 % $ 11,263 $ 11,560 Promenade (3) P&I $ — $ 7,102 Hartman SPE LLC IO October 9, 2020 3.60 % $ 259,000 $ 259,000 Hartman XXI IO March 31, 2021 10.00 % $ 4,400 $ — $ 306,793 $ 310,686 Less unamortized deferred loan costs $ (3,754) $ (4,779) $ 303,039 $ 305,907 (1) Principal and interest (P&I) or interest only (IO). (2) Each promissory note contains a call option wherein the holder of the promissory note may declare the outstanding balance due and payable on either July 1, 2024, July 1, 2029, July 1, 2034, or July 1, 2039. (3) Hartman SPE LLC loan proceeds for the repayment of the Promenade loan were in escrow as of October 1, 2018. The loan was paid in full with the refinancing proceeds on February 15, 2019. Annual maturities of notes payable as of December 31, 2019 are as follows, in thousands: December 31, Amount Due 2020 $ 260,253 2021 5,712 2022 1,374 2023 1,439 2024 1,506 Thereafter 36,509 Total $ 306,793 The Company’s loan costs are amortized using the straight-line method over the term of the loans, which approximates the interest method. Costs which have been deferred consist of the following, in thousands: December 31, 2019 2018 Deferred loan costs $ 7,155 $ 7,082 Less: deferred loan cost accumulated amortization (3,401) (2,303) Total cost, net of accumulated amortization $ 3,754 $ 4,779 Interest expense incurred for the year ending December 31, 2019 and 2018 was $13,834,000 and $11,306,000, respectively. Interest expense of $516,000 and $421,000 was payable as of December 31, 2019 and 2018, respectively, and is included in accounts payable and accrued expenses in the accompanying consolidated balance sheets. Fair Value of Debt

Loss Per Share

Loss Per Share	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Loss Per Share	Loss Per Share Basic loss per share is computed using net loss attributable to common stockholders and the weighted average number of common shares outstanding. Diluted weighted average shares outstanding reflect common shares issuable from the assumed conversion of convertible preferred stock into common shares. Only those items that have a dilutive impact on basic loss per share are included in the diluted loss per share. December 31, 2019 2018 Numerator: Net income (loss) attributable to common stockholders $ (1,433) $ (827) Denominator: Weighted average number of common shares outstanding,basic and diluted 18,304 17,946 Basic and diluted loss per common share: Net loss attributable to common stockholders per share $ (0.08) $ (0.05)

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Federal income taxes are not provided for because we qualify as a REIT under the provisions of the Internal Revenue Code and because we have distributed and intend to continue to distribute all of our taxable income to our stockholders. Our stockholders include their proportionate taxable income in their individual tax returns. As a REIT, we must distribute at least 90% of our real estate investment trust taxable income to our stockholders and meet certain income sources and investment restriction requirements. In addition, REITs are subject to a number of organizational and operational requirements. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income tax (including any applicable alternative minimum tax) on our taxable income at regular corporate tax rates. The Company’s federal income tax returns for the years ended December 31, 2015, 2016, 2017 and 2018 have not been examined by the Internal Revenue Service.The Company’s federal income tax return for the year ended December 31, 2015 may be examined on or before September 15, 2020. The Company has formed a taxable REIT subsidiary which may generate future taxable income which may be offset by the net loss carry forward. The Company considers that any deferred tax benefit and corresponding deferred tax asset which may be recorded in the light of the net loss carry forward would be properly offset by an equal valuation allowance. Accordingly, no deferred tax benefit or deferred tax asset has been recorded in the consolidated financial statements. The Company is required to recognize in its consolidated financial statements the financial effects of a tax position only if it is determined that it is more likely than not that the tax position will not be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Management has reviewed the Company’s tax positions and is of the opinion that material positions taken by the Company would more likely than not be sustained upon examination. Accordingly, the Company has not recognized a liability related to uncertain tax positions. Taxable income (loss) differs from net income (loss) for financial reporting purposes principally due to differences in the timing of recognition of interest, real estate taxes, depreciation and amortization and rental revenue. For Federal income tax purposes, the cash distributed to stockholders was characterized as follows for the years ended December 31: 2019 2018 Ordinary income (unaudited) 53.1 % 24.9 % Return of capital (unaudited) 46.9 % 75.1 % Capital gains distribution (unaudited) — % — % Total 100.0 % 100.0 % A provision for Texas Franchise tax under the Texas Margin Tax Bill in the amount of $385,000 and $267,000 was recorded in the consolidated financial statements for the years ended December 31, 2019 and 2018 respectively, with a corresponding charge to real estate taxes and insurance.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Hartman Advisors LLC, is a Texas limited liability company owned 70% by Allen R. Hartman individually and 30% by the Property Manager. The Property Manager is a wholly owned subsidiary of Hartman Income REIT Management, LLC, which is wholly owned by Hartman Income REIT, Inc. and Subsidiaries of which approximately 20% is owned by Allen R. Hartman who is the Chief Executive Officer and Chairman of the Board of Directors. The Company pays acquisition fees and asset management fees to the Advisor in connection with the acquisition of properties and management of the Company. The Company pays property management and leasing commissions to the Property Manager in connection with the management and leasing of the Company’s properties. For the years ended December 31, 2019 and 2018 the Company incurred property management fees and reimbursements of $8,053,000 and $4,910,000, respectively, and $4,948,000 and $4,103,000, respectively for leasing commissions owed to our Property Manager. We incurred asset management fees of $1,760,000 and $1,760,000, respectively owed to Advisor. These fees are monthly fees equal to one-twelfth of 0.75% of the sum of the higher of the cost or value of each asset. The asset management fee will be based only on the portion of the cost or value attributable to the Company’s investment in an asset, if the Company do not own all or a majority of an asset. There were no acquisition fees incurred to the Advisor for the years ended December 31, 2019 and 2018, respectively. Property management fees and reimbursements are included in property operating expense in the accompanying consolidated statements of operations. Leasing commissions are capitalized in the accompanying consolidated balance sheets. Asset management fees are captioned as such in the accompanying consolidated statements of operations. The Company also pays construction management fees to the Property Manager in connection with the construction management of the Company's properties. For the years ended December 31, 2019 and 2018, the Company incurred construction management fees of $664,000 and $2,122,000, respectively. Construction management fees are capitalized and included in real estate assets in the consolidated balance sheets. The Company had a balance due to the Property Manager of $1,168,000 and $462,000 as of December 31, 2019 and 2018, respectively. The Company owed the Advisor $2,077,000 and $1,204,000 for asset management fees as of December 31, 2019 and 2018, respectively. The Company had a net balance due from other related parties of $5,375,000 and $170,000 as of December 31, 2019 and 2018, respectively. The Company owns 1,561,523 shares of the common stock of HIREIT which it acquired for cash consideration of $8,978,000. The Company’s investment in HIREIT is accounted for under the cost method.The Company’s approximately 11% ownership interest in HIREIT is less than a controlling stake, and is reflected as “Investment in Affiliate” on the accompanying consolidated balance sheets. The Company received dividend distributions from HIREIT of $425,000 and $425,000 for the years ended December 31, 2019 and 2018, respectively, which is included in interest and dividend income in the accompanying consolidated statements of operations. During 2019, the Company borrowed under an unsecured promissory note payable to Hartman vREIT XXI, Inc., an affiliate of the Advisor and the Property Manager, in the face amount of $4,400,000. This note payable had an outstanding balance of $4,400,000 as of December 31, 2019, which is included in Notes payable in the accompanying consolidated balance sheets. Interest has been accrued on the loan amount at an annual rate of 5%. The Company recognized interest expense on the affiliate note in the amount of $23,000 for the year ended December 31, 2019,which is included in interest expense in the accompanying consolidated statements of operations. In May 2016, the Company, through its taxable REIT subsidiary, Hartman TRS, Inc. (“TRS”), loaned $7,231,000 pursuant to a promissory note in the face amount of up to $8,820,000 to Hartman Retail II Holdings Company, Inc. (“Retail II Holdings”), an affiliate of the Advisor and the Property Manager, in connection with the acquisition of a retail shopping center by Hartman Retail II DST, a Delaware statutory trust sponsored by the Property Manager. Pursuant to the terms of the promissory note, TRS will receive a two percent (2)% origination fee of amounts advanced under the promissory note, and interest at ten percent (10)% per annum on the outstanding principal balance. The outstanding principal balance of the promissory note will be repaid as investor funds are raised by Hartman Retail II DST. The maturity date of the promissory note, as amended is December 31, 2020. This note receivable had an outstanding balance of $2,476,000 as of December 31, 2019 and 2018, respectively, which is included in Notes receivable – related party in the accompanying consolidated balance sheets. For the years ended December 31, 2019 and 2018, respectively, interest and dividend income in the accompanying consolidated statements of operations, includes $235,000 and $456,000 of interest income from this promissory note. The Company had a note receivable due from an affiliate, Hartman Short Term Income Properties XIX, Inc. (“Hartman XIX”), of $4,200,000 as of December 31, 2019 and 2018, respectively, which is included in Notes receivable - related party in the accompanying consolidated balance sheets. The face amount of the promissory note is $4,500,000. Interest has been accrued on the loan amount at an annual rate of six percent (6%). The Company recognized interest income on the affiliate note in the amount of $252,000 for each of the years ended December 31, 2019 and 2018, respectively, which is included in interest income in the accompanying consolidated statements of operations. In February 2019, the Company through TRS, loaned $6,782,455 pursuant to a promissory note in the face amount of up to $7,500,000 to Hartman Retail III Holdings Company, Inc. (“Retail III Holdings”), an affiliate of the Advisor and the Property Manager, in connection with the acquisition of a retail shopping center by Hartman Retail III DST, a Delaware statutory trust sponsored by the Advisor. This note receivable had an outstanding balance of $6,782,455 as of December 31, 2019, which is included in Notes receivable – related party in the accompanying consolidated balance sheets. Pursuant to the terms of the promissory note, TRS receives a two percent (2%) origination fee of amounts advanced under the promissory note, and interest at ten percent (10%) per annum on the outstanding principal balance. The outstanding principal balance of the promissory note will be repaid as investor funds are raised by Hartman Retail III DST. The maturity date of the promissory note, as amended, is February 29, 2021. The Company recognized interest income on this affiliate note in the amount of $570,000 for the year ended December 31, 2019, which is included in interest and dividend income in the accompanying consolidated statements of operations. In March 2019, the Company through TRS, loaned $3,829,711 pursuant to a promissory note in the face amount of $3,500,000 to Hartman Ashford Bayou, LLC (“Ashford Bayou”), an affiliate of the Advisor and the Property Manager, in connection with the acquisition of office building by Ashford Bayou, a wholly owned subsidiary of Hartman Total Return, Inc. This note receivable had an outstanding balance of $3,829,711 as of December 31, 2019, which is included in Notes receivable – related party in the accompanying consolidated balance sheets. Pursuant to the terms of the promissory note, TRS receives a two percent (2%) origination fee of amounts advanced under the promissory note, and interest at ten percent (10%) per annum on the outstanding principal balance. The outstanding principal balance of the promissory note will be repaid as investor funds are raised by Hartman Total Return, Inc. The maturity date of the promissory note is March 31, 2020. The Company recognized interest income on this affiliate note in the amount of $298,000 for the year ended December 31, 2019, which is included in interest and dividend income in the accompanying consolidated statements of operations. Variable interest entities (“VIEs”) are defined as entities with a level of invested equity that is not sufficient to fund future operations on a stand-alone basis, or whose equity holders lack certain characteristics of a controlling financial interest. For identified VIEs, an assessment must be made to determine which party to the VIE, if any, has both the power to direct the activities of the VIE that most significantly impacts the performance of the VIE and the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. The Company is not deemed to be the primary beneficiary of Retail II Holdings, Retail III Holdings or Ashford Bayou, each of which qualifies as a VIE. Accordingly, the assets and liabilities and revenues and expenses of Retail II Holdings, Retail III Holdings and Ashford Bayou have not been included in the accompanying consolidated financial statements. The Board of Directors voted to acquire an additional 3.42% ownership interest of Hartman SPE, LLC from Hartman vREIT XXI, Inc. in exchange for 700,302 shares of the Company's common stock with a total value of $8,859,000 ($12.65 per share). The exchange increased the Company’s ownership interest in Hartman SPE, LLC from 32.74% to 36.16%. The transaction was effective March 1, 2019.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Common Stock Shares of common stock entitle the holders to one vote per share on all matters which stockholders are entitled to vote, to receive dividends and other distributions as authorized by the Company’s board of directors in accordance with the Maryland General Corporation Law and to all rights of a stockholder pursuant to the Maryland General Corporation Law. The common stock has no preferences or preemptive, conversion or exchange rights. Under the articles of incorporation, the Company has authority to issue 750,000,000 common shares of beneficial interest, $0.001 par value per share, and 200,000,000 preferred shares of beneficial interest, $0.001 par value per share. The Company was originally a majority owned subsidiary of Hartman XX Holdings, Inc. Hartman XX Holdings, Inc. is a Texas corporation wholly owned by Allen R. Hartman.In February 2009, the Company sold 19,000 shares of common stock to Hartman XX Holdings, Inc. at a price of $10.00 per share. In February 2009, the Company issued 1,000 shares of the Company’s convertible preferred stock to the Company’s advisor, Hartman Advisors LLC (“Advisor”), at a price of $10.00 per share. The Advisor is owned 70% by Allen R. Hartman and 30% by Hartman Income REIT Management, Inc..Hartman Income REIT Management, Inc. is a wholly owned subsidiary of Hartman Income REIT, Inc. Allen R. Hartman, the Company’s Chief Executive Officer and Chairman of the Board of Directors, beneficially owns approximately 20% of Hartman Income REIT, Inc. Preferred Stock Under the Company’s articles of incorporation the Company’s board of directors has the authority to issue one or more classes or series of preferred stock, and prior to the issuance of such stock, the board of directors shall have the power to classify or reclassify, in one or more series, any unissued shares and designate the preferences, rights and privileges of such shares. As of December 31, 2019 and 2018 the Company has issued 1,000 shares of convertible preferred shares to Hartman Advisors LLC at a price of $10.00 per share. Common Stock Issuable Upon Conversion of Convertible Preferred Stock The convertible preferred stock will convert to shares of common stock if (1) the Company has made total distributions on then outstanding shares of the Company’s common stock equal to the issue price of those shares plus a 6% cumulative, non-compounded, annual return on the issue price of those outstanding shares, (2)the Company lists its common stock for trading on a national securities exchange if the sum of prior distributions on then outstanding shares of the Company’s common stock plus the aggregate market value of the Company’s common stock (based on the 30-day average closing price) meets the same 6% performance threshold, or (3) the Company’s advisory agreement with Hartman Advisors, LLC expires without renewal or is terminated (other than because of a material breach by the Advisor), and at the time of such expiration or termination the Company is deemed to have met the foregoing 6% performance threshold based on the Company’s enterprise value and prior distributions and, at or subsequent to the expiration or termination, the stockholders actually realize such level of performance upon listing or through total distributions. In general, the convertible stock will convert into shares of common stock with a value equal to 15% of the excess of the Company’s enterprise value plus the aggregate value of distributions paid to date on then outstanding shares of common stock over the aggregate issue price of those outstanding shares plus a 6% cumulative, non-compounded, annual return on the issue price of those outstanding shares. With respect to conversion in connection with the termination of the advisory agreement, this calculation is made at the time of termination even though the actual conversion may occur later, or not at all. Stock-Based Compensation The Company awards vested restricted common shares to non-employee directors as compensation in part for their service as members of the board of directors of the Company. These shares are fully vested when granted. These shares may not be sold while an independent director is serving on the board of directors. As of December 31, 2019, 51,000 shares of restricted common stock have been granted to our current independent directors pursuant to the omnibus stock incentive plan. For the years ended December 31, 2019 and 2018, respectively, the Company granted 6,000 and 6,000 shares of restricted common stock to independent directors as compensation for services. The Company recognized $77,000 and $77,000 as stock-based compensation expense for the years ended December 31, 2019 and 2018, respectively, based upon the estimated fair value per share. Stock-based compensation also includes incentive plan awards discussed at Note 12. These amounts are included in general and administrative expenses for the years ended December 31, 2019 and 2018, respectively in the accompanying consolidated statements of operations. Distributions The following table reflects the total distributions the Company has paid in cash (in thousands, except per share amounts) and the amount through the distribution reinvestment plan, including paid per common share, in each indicated quarter: Quarter Paid Distributions per Common Share Total Distributions Paid 2019 4 th Quarter $ 0.175 $ 3,223 3 rd Quarter 0.175 3,224 2 nd Quarter 0.175 3,223 1 st Quarter 0.171 3,141 Total $ 0.696 $ 12,811 2018 4 th Quarter $ 0.175 $ 3,101 3 rd Quarter 0.175 3,151 2 nd Quarter 0.175 3,152 1 st Quarter 0.175 3,151 Total $ 0.700 $ 12,555

Incentive Awards Plan

Incentive Awards Plan	12 Months Ended
	Dec. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Incentive Awards Plan	Incentive Awards PlanThe Company has adopted an incentive plan (the “Omnibus Stock Incentive Plan” or the “Incentive Plan”) that provides for the grant of incentive stock options, non-qualified stock options, stock appreciation rights, deferred stock awards, restricted stock awards, dividend equivalent rights and other stock-based awards within the meaning of Internal Revenue Code Section 422, or any combination of the foregoing. The Company has initially reserved 5,000,000 shares of the Company’s common stock for the issuance of awards under the Company’s stock incentive plan, but in no event more than ten (10%) percent of the Company’s issued and outstanding shares. The number of shares reserved under the Company’s stock incentive plan is also subject to adjustment in the event of a stock split, stock dividend or other change in the Company’s capitalization. Generally, shares that are forfeited or canceled from awards under the Company’s stock incentive plan also will be available for future awards.  The Compensation Committee of the Board of Directors did not approve any awards restricted common stock for the years ended December 31, 2019 and 2018.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Economic Dependency The Company is dependent on the Property Manager and the Advisor for certain services that are essential to the Company, including the identification, evaluation, negotiation, purchase and disposition of properties, management of the daily operations of the Company’s real estate portfolio, and other general and administrative responsibilities. In the event that these companies are unable to provide the respective services, the Company will be required to obtain such services from other providers. Litigation The Company is subject to various claims and legal actions that arise in the ordinary course of business. Management of the Company believes that the final disposition of such matters will not have a material adverse effect on the financial position of the Company.

Subsequent events

Subsequent events	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent events	Subsequent eventsThe Company has evaluated subsequent events through the filing of this Annual Report on Form 10-K, and determined that there have been no events that have occurred that would require adjustments to our disclosures in the consolidated financial statements.Since the beginning of 2020, the COVID-19 coronavirus outbreak which originated in mainland China has significantly impacted the global and U.S. economies. As a result of the spread of the COVID-19 coronavirus, economic uncertainties have arisen which are likely to negatively impact the results of our operations.

Schedule III - Real Estate Asse

Schedule III - Real Estate Assets and Accumulated Depreciation and Amortization	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate Assets and Accumulated Depreciation and Amortization	(Dollars in thousands) Initial Cost to the Company Property Date Acquired Date of Construction Land Building and Improvements In-place lease value intangible Total Post – acquisition Improvements Garden Oaks 10/01/2018 1956 $ 1,770 $ 17,969 $ 1,021 $ 20,760 $ 458 Quitman 10/01/2018 1920 3,130 2,389 351 5,870 130 Chelsea Square 10/01/2018 1984 1,570 5,046 494 7,110 170 Mission Centre 10/01/2018 1987 2,020 7,690 890 10,600 51 Regency 10/01/2018 1979 960 819 851 2,630 338 Spring Valley 10/01/2018 1982 3,490 1,064 1,066 5,620 997 Northeast Square 10/01/2018 1984 1,300 3,330 280 4,910 75 One Mason 10/01/2018 1983 2,440 9,290 1,130 12,860 30 Tower 10/01/2018 1981 2,750 2,584 1,336 6,670 394 Preserve 10/01/2018 1970 9,730 9,085 3,485 22,300 441 Westheimer 10/01/2018 1983 3,800 12,416 2,284 18,500 543 Walzem Plaza 10/01/2018 1981 3,900 10,660 1,840 16,400 1,083 11811 North Freeway 10/01/2018 1982 1,980 1,037 2,473 5,490 311 Atrium I 10/01/2018 1980 2,540 716 1,494 4,750 524 North Central Plaza 10/01/2018 1982 2,330 14,511 2,959 19,800 1,087 3100 Timmons 10/01/2018 1975 10,330 3,543 1,427 15,300 718 Central Park 10/01/2018 1984 730 2,851 989 4,570 23 601 Sawyer 10/01/2018 1982 3,360 12,796 1,144 17,300 245 Prestonwood 10/01/2018 1999 7,410 13,895 1,695 23,000 182 Harwin 10/01/2018 1992 1,960 3,041 279 5,280 73 Fondren 10/01/2018 2004 1,650 7,326 1,004 9,980 220 Cornerstone 10/01/2018 1984 1,110 1,620 920 3,650 79 Northchase 10/01/2018 1984 1,700 5,821 1,549 9,070 573 616 FM 1960 10/01/2018 1983 1,510 8,931 1,269 11,710 239 Gateway 10/01/2018 1983 3,510 22,182 3,408 29,100 743 Promenade 10/01/2018 1973-1979 5,750 12,671 1,579 20,000 153 400 North Belt 05/08/2015 1982 2,538 3,800 3,812 10,150 2,605 Commerce Plaza Hillcrest 05/01/2015 1977 6,500 1,031 3,869 11,400 2,240 Corporate Park Place 08/24/2015 1980 2,375 5,215 1,910 9,500 1,235 Skymark Tower 09/02/2015 1985 2,212 4,404 2,230 8,846 1,701 Ashford Crossing 07/31/2015 1983 2,650 4,240 3,710 10,600 2,079 Energy Plaza 12/30/2014 1983 4,403 6,840 6,367 17,610 2,104 Westway 06/01/2016 2001 5,410 11,276 4,950 21,636 340 Three Forest Plaza 12/22/2016 1983 8,910 18,186 8,558 35,654 3,300 Parkway Plaza I & II 03/15/2013 1982 2,373 4,765 2,352 9,490 2,825 Gulf Plaza 03/11/2014 1979/1980 3,488 6,005 4,457 13,950 1,356 Timbercreek 12/30/2014 1984 724 962 1,211 2,897 619 Copperfield 12/30/2014 1986 605 760 1,054 2,419 520 One Technology 11/10/2015 1984 4,894 8,558 6,123 19,575 1,866 Richardson Heights 12/28/2010 1958-1962 4,788 10,890 3,472 19,150 7,232 Bent Tree Green 10/16/2012 1983 3,003 6,272 2,740 12,015 3,351 Cooper Street 05/11/2012 1992 2,653 5,768 2,192 10,613 494 Mitchelldale Business Park 06/13/2014 1977 4,794 9,816 4,565 19,175 2,911 Total $ 145,050 $ 302,071 $ 100,790 $ 547,911 $ 46,658 SCHEDULE III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION DECEMBER 31, 2019 (Dollars in thousands) Gross Carrying Amount at December 31, 2019 Property Land Building and Improvements In-place lease value intangible Total Accumulated Depreciation & Amortization Net Book Carrying Value Encumbrances Garden Oaks $ 1,770 $ 18,427 $ 1,021 $ 21,218 $ (994) $ 20,225 Quitman 3,130 2,519 351 6,000 (174) 5,826 Chelsea Square 1,570 5,216 494 7,280 (357) 6,923 Mission Centre 2,020 7,741 890 10,651 (632) 10,019 Regency 960 1,157 852 2,969 (342) 2,627 Spring Valley 3,490 2,061 1,066 6,617 (616) 6,001 Northeast Square 1,300 3,405 280 4,985 (227) 4,758 One Mason 2,440 9,320 1,130 12,890 (719) 12,170 Tower 2,750 2,977 1,335 7,062 (584) 6,478 Preserve 9,730 9,526 3,485 22,740 (1,617) 21,124 Westheimer 3,800 12,959 2,284 19,043 (1,312) 17,731 Walzem Plaza 3,900 11,743 1,840 17,482 (1,210) 16,273 11811 N Freeway 1,980 1,348 2,473 5,801 (883) 4,918 Atrium I 2,540 1,240 1,494 5,275 (569) 4,706 North Central 2,330 15,598 2,959 20,887 (1,544) 19,342 3100 Timmons 10,330 4,261 1,428 16,019 (673) 15,345 Central Park 730 2,874 989 4,593 (458) 4,135 601 Sawyer 3,360 13,041 1,144 17,545 (798) 16,747 Prestonwood 7,410 14,076 1,695 23,181 (1,073) 22,108 Harwin 1,960 3,114 279 5,353 (240) 5,114 Fondren 1,650 7,546 1,005 10,201 (774) 9,427 Cornerstone 1,110 1,699 920 3,729 (404) 3,325 Northchase 1,700 6,394 1,549 9,643 (783) 8,860 616 FM 1960 1,510 9,170 1,269 11,949 (812) 11,137 Gateway 3,510 22,925 3,408 29,843 (1,928) 27,915 Promenade 5,750 12,824 1,578 20,152 (1,060) 19,092 400 North Belt 2,538 6,405 3,812 12,755 (5,933) 6,822 Commerce Plaza 6,500 3,271 3,869 13,639 (5,538) 8,101 Corporate Park 2,375 6,450 1,910 10,736 (3,278) 7,457 Skymark Tower 2,212 6,105 2,230 10,546 (3,565) 6,981 Ashford Crossing 2,650 6,319 3,710 12,679 (5,443) 7,236 Energy Plaza 4,403 8,944 6,367 19,713 (8,503) 11,210 Westway 5,410 11,616 4,951 21,977 (4,692) 17,285 Three Forest 8,914 21,486 8,557 38,957 (9,771) 29,186 Parkway Plaza 2,373 7,590 2,352 12,315 (5,048) 7,267 Gulf Plaza 3,488 7,361 4,457 15,306 (6,056) 9,249 Timbercreek 724 1,581 1,211 3,517 (1,711) 1,806 Copperfield 605 1,280 1,054 2,938 (1,153) 1,785 One Technology 4,894 10,424 6,123 21,441 (8,471) 12,970 Richardson Heights 4,788 18,122 3,472 26,382 (9,389) 16,994 17,259 Bent Tree Green 3,003 9,623 2,740 15,366 (6,067) 9,299 7,435 Cooper Street 2,653 6,262 2,192 11,107 (4,243) 6,864 7,435 Mitchelldale 4,794 12,727 4,565 22,086 (8,007) 14,079 11,263 Total $ 145,050 $ 348,729 $ 100,790 $ 594,569 $ (117,652) $ 476,917 $ 43,392 The aggregate cost of real estate for federal income tax purposes was $594,569 as of December 31, 2019. SCHEDULE III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION DECEMBER 31, 2019 Summary of activity for real estate assets for the years ended December 31, 2019 and 2018, in thousands: Years ended December 31, 2019 2018 Balance at beginning of period $ 583,112 $ 259,962 Additions during the period: Acquisitions — — Consolidation of Hartman SPE LLC — 313,230 Improvements 11,457 9,920 594,569 323,150 Reductions – cost of real estate assets sold — — Balance at end of period $ 594,569 $ 583,112

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements as of December 31, 2019 and 2018 and for the years then ended have been prepared by the Company in accordance with accounting principles generally accepted in the United States and pursuant to the rules and regulations of the Securities and Exchange Commission, including Form 10-K and Regulation S-K. The information furnished herein reflects all adjustments (consisting of normal recurring accruals and adjustments), which are, in the opinion of management, necessary to fairly present the operating results for the respective periods.
Consolidation	These consolidated financial statements include the accounts of the Company, the Operating Partnership and its subsidiaries, and SPE LLC.  All significant intercompany balances and transactions have been eliminated.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents
Restricted Cash	Restricted Cash Restricted cash on the accompanying consolidated balance sheets consists of amounts escrowed for future real estate taxes, insurance, capital expenditures and debt service, as required by certain of our mortgage debt agreements. As of December 31, 2019 and 2018, the Company had a restricted cash balance of $26,078,000 and $33,696,000, respectively.
Financial Instruments	Financial Instruments The accompanying consolidated balance sheets include the following financial instruments: cash and cash equivalents, accrued rent and accounts receivable, accounts payable and accrued expenses and balances due to/ due from related parties, as well as related party notes receivable. The Company considers the carrying value of these financial instruments to approximate their respective fair values due to their short-term nature. Disclosure about the fair value of financial instruments is based on relevant information available as of December 31, 2019 and 2018.
Revenue Recognition	Revenue Recognition The Company's leases are accounted for as operating leases. Certain leases provide for tenant occupancy during periods for which no rent is due and/or for increases or decreases in the minimum lease payments over the terms of the leases. Revenue is recognized on a straight-line basis over the terms of the individual leases. Revenue recognition under a lease begins when the tenant takes possession of or controls the physical use of the leased space. When the Company acquires a property, the term of existing leases is considered to commence as of the acquisition date for the purposes of this calculation. The Company's accrued rents are included in accrued rent and accounts receivable, net. The Company defers the recognition of contingent rental income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. Cost recoveries from tenants are included in the Tenant Reimbursement and Other Revenues line item in the consolidated statements of operations in the period the related costs are incurred. As of January 1, 2018, the Company adopted Accounting Standards Update (“ASU”) 2014-9, Revenue from Contracts with Customers, (“ASU 2014-9”) which amends the guidance for revenue recognition to eliminate the industry-specific revenue recognition guidance and replace it with a principle based approach for determining revenue recognition. The Company adopted ASU 2014-9 effective January 1, 2018 using the modified retrospective approach and the adoption of this guidance did not have a material impact on the consolidated financial statements. The Company’s revenue is primarily derived from leasing activities, which is specifically excluded from ASU 2014-9. The Company’s other revenue is comprised of tenant reimbursements for real estate taxes, insurance, common area maintenance, and operating expenses. Reimbursements from real estate taxes and certain other expenses are also excluded from of ASU 2014-9. Additionally, the Company’s property dispositions have historically been cash sales with no contingencies and no future involvement in the property, as a result, the new guidance did not have an effect on the Company’s real estate transactions, however, the Company will account future sales of real estate properties in accordance with requirements of ASU 2014-9.
Real Estate	Real Estate Allocation of Purchase Price of Acquired Assets Upon the acquisition of real properties, it is the Company’s policy to allocate the purchase price of properties to acquired tangible assets, consisting of land and buildings, and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases, other value of in-place leases and leasehold improvements and value of tenant relationships, based in each case on their fair values. The Company utilizes internal valuation methods to determine the fair values of the tangible assets of an acquired property (which includes land and buildings). The fair values of above-market and below-market in-place lease values, including below-market renewal options for which renewal has been determined to be reasonably assured, are recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (a) the contractual amounts to be paid pursuant to the in-place leases and (b) an estimate of fair market lease rates for the corresponding in-place leases and below-market renewal options, which is generally obtained from independent appraisals, measured over a period equal to the remaining non-cancelable term of the lease. The above-market and below-market lease and renewal option values are capitalized as intangible lease assets or liabilities and amortized as an adjustment of rental revenue over the remaining expected terms of the respective leases. The fair values of in-place leases include direct costs associated with obtaining a new tenant, opportunity costs associated with lost rentals which are avoided by acquiring an in-place lease, and tenant relationships. Direct costs associated with obtaining a new tenant include commissions, tenant improvements, and other direct costs and are estimated based on independent appraisals and management’s consideration of current market costs to execute a similar lease. These direct costs are included in intangible lease assets and are amortized to expense over the remaining terms of the respective leases. The value of opportunity costs is calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease. Customer relationships are valued based on expected renewal of a lease or the likelihood of obtaining a particular tenant for other locations. These intangibles are included in real estate assets in the consolidated balance sheets and are being amortized to expense over the remaining term of the respective leases. The determination of the fair values of the assets and liabilities acquired requires the use of significant assumptions with regard to the current market rental rates, rental growth rates, discount rates and other variables. The use of inappropriate estimates would result in an incorrect assessment of the purchase price allocations, which could impact the amount of the Company’s reported net loss. Real Estate Joint Ventures and Partnerships To determine the method of accounting for partially owned real estate joint ventures and partnerships, management determines whether an entity is a VIE and, if so, determines which party is the primary beneficiary by analyzing whether we have both the power to direct the entity’s significant economic activities and the obligation to absorb potentially significant losses or receive potentially significant benefits. Significant judgments and assumptions inherent in this analysis include the design of the entity structure, the nature of the entity’s operations, future cash flow projections, the entity’s financing and capital structure, and contractual relationships and terms. We consolidate a VIE when we have determined that we are the primary beneficiary. Primary risks associated with our involvement with our VIEs include the potential funding of the entities’ debt obligations or making additional contributions to fund the entities’ operations or capital activities. Partially owned, non-variable interest real estate joint ventures and partnerships over which we have a controlling financial interest are consolidated in our consolidated financial statements. In determining if we have a controlling financial interest, we consider factors such as ownership interest, authority to make decisions, kick-out rights and substantive participating rights.Partially owned real estate joint ventures and partnerships where we do not have a controlling financial interest, but have the ability to exercise significant influence, are accounted for using the equity method. Management continually analyzes and assesses reconsideration events, including changes in the factors mentioned above, to determine if the consolidation or equity method treatment remains appropriate. Depreciation and amortization Depreciation is computed using the straight-line method over the estimated useful lives of 5 to 39 years for buildings and improvements. Tenant improvements are depreciated using the straight-line method over the lesser of the life of the improvement or the remaining term of the lease. In-place leases are amortized using the straight-line method over the weighted average years remaining calculated on terms of all of the leases in-place when acquired. Impairment The Company reviews its real estate assets for impairment at least annually or whenever events or changes in circumstances indicate that the carrying amount of the assets, including accrued rental income, may not be recoverable through operations. The Company determines whether an impairment in value has occurred by comparing the estimated future cash flows (undiscounted and without interest charges), including the estimated residual value of the property, with the carrying cost of the property. If impairment is indicated, a loss will be recorded for the amount by which the carrying value of the property exceeds its fair value. Management has determined that there has been no impairment in the carrying value of the Company’s real estate assets as of December 31, 2019 and 2018. Projections of expected future cash flows require management to estimate future market rental income amounts subsequent to the expiration of current lease agreements, property operating expenses, discount rates, the number of months it takes to release the property and the number of years the property is held for investment. The use of inappropriate assumptions in the future cash flow analysis would result in an incorrect assessment of the property’s future cash flow and fair value and could result in the overstatement of the carrying value of our real estate and related intangible assets and net income.
Fair Value Measurement	Fair Value Measurement Fair value measures are classified into a three-tiered fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices in active markets. Level 2: Directly or indirectly observable inputs, other than quoted prices in active markets. Level 3: Unobservable inputs in which there is little or no market data, which require a reporting entity to develop its own assumptions. Assets and liabilities measured at fair value are based on one or more of the following valuation techniques: Market approach: Prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. Cost approach: Amount required to replace the service capacity of an asset (replacement cost). Income approach: Techniques used to convert future amounts to a single amount based on market expectations (including present-value, option-pricing, and excess-earnings models).
Accrued Rent and Accounts Receivables, net	Accrued Rent and Accounts Receivable, net Included in accrued rent and accounts receivable are base rents, tenant reimbursements and receivables attributable to recording rents on a straight-line basis. An allowance for the uncollectible portion of accrued rent and accounts receivable is determined based upon customer credit-worthiness (including expected recovery of the Company’s claim with respect to any tenants in bankruptcy), historical bad debt levels, and current economic trends.
Deferred Leasing Commission Costs, net	Deferred Leasing Commissions Costs, net Leasing commissions are capitalized and amortized using the straight-line method over the term of the related lease agreements.
Goodwill	Goodwill GAAP requires the Company to test goodwill for impairment at least annually or more frequently whenever events or circumstances occur indicating goodwill might be impaired. The Company applies a one-step quantitative assessment to determine if the estimated fair value is less than the carrying amount. If the carrying amount exceeds the estimated fair value, the Company will record a goodwill impairment equal to such excess, not to exceed the total amount of goodwill. No goodwill impairment has been recognized in the accompanying consolidated financial statements.
Noncontrolling Interests	Noncontrolling InterestsNoncontrolling interests is the portion of equity in a subsidiary not attributable to a parent.  The ownership interests not held by the parent are considered noncontrolling interests.  Accordingly, the Company has reported noncontrolling interests in equity on the consolidated balance sheets but separate from the Company's equity.  On the consolidated statements of operations, subsidiaries are reported at the consolidated amount, including both the amount attributable to the Company and noncontrolling interests.
Stock-Based Compensation	Stock-Based Compensation The Company follows Accounting Standards Codification ("ASC") 718- Compensation- Stock Compensation, with regard to issuance of stock in payment of services. ASC 718 requires that compensation cost relating to share-based payment transactions be recognized in the consolidated financial statements. The compensation cost is measured based on the estimated grant date fair value, as of the grant date of the Company’s common stock, of the equity or liability instruments issued. Stock-based compensation expense are recorded over the vesting period and is included in general and administrative expense in the accompanying consolidated statements of operations.
Income Taxes	Income Taxes The Company has elected to be treated as a REIT under the Internal Revenue Code of 1986, as amended, beginning with its taxable year ended December 31, 2011. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the Company’s annual REIT taxable income to stockholders (which is computed without regard to the dividends-paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax on income that it distributes as dividends to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost, unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially and adversely affect the Company’s net income and net cash available for distribution to stockholders. However, the Company believes that it is organized and will continue to operate in such a manner as to qualify for treatment as a REIT. For the years ended December 31, 2019 and 2018, the Company incurred a net loss of $5,995,000 and $3,540,000. The Company formed a taxable REIT subsidiary which may generate future taxable income which may be offset by the net loss carry forward. The Company considers that any deferred tax benefit and corresponding deferred tax asset which may be recorded in light of the net loss carry forward would be properly offset by an equal valuation allowance. Accordingly, no deferred tax benefit or deferred tax asset has been recorded in the consolidated financial statements. The Company is required to recognize in its consolidated financial statements the financial effects of a tax position only if it is determined that it is more likely than not that the tax position will not be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Management has reviewed the Company’s tax positions and is of the opinion that material positions taken by the Company would more likely than not be sustained upon examination. Accordingly, the Company has not recognized a liability related to uncertain tax positions.
Loss Per Share	Loss Per Share The computations of basic and diluted loss per common share are based upon the weighted average number of common shares outstanding and potentially dilutive securities.The Company’s potentially dilutive securities include preferred shares that are convertible into the Company’s common stock. As of December 31, 2019 and 2018, there were no shares issuable in connection with these potentially dilutive securities. These potentially dilutive securities were excluded from the computations of diluted net loss per share for the years ended December 31, 2019 and 2018 because no shares are issuable and inclusion of such potentially dilutive securities would have been anti-dilutive.
Concentration of Risk	Concentration of Risk The geographic concentration of the Company’s real estate assets makes it susceptible to adverse economic developments in the State of Texas. Any adverse economic or real estate developments in these markets, such as business layoffs or downsizing, relocation of businesses, increased competition or any other changes, could adversely affect the Company’s operating results and its ability to make distributions to stockholders. Going Concern Evaluation Pursuant to ASU 2014-15, “Presentation of Financial Statements – Going Concern,” management is required to evaluate the Company’s ability to continue as a going concern within one year after the date that these consolidated financial statements are issued. The Hartman SPE LLC loan agreement (“SPE Loan”) has an initial maturity date of October 9, 2020. The SPE Loan provides for three successive one As of December 31, 2019 and March 31, 2020, Hartman SPE has a debt yield of 13.29% and 12.95%, respectively. In response to the coronavirus outbreak and related economic disruption, the Company has undertaken cost reduction and avoidance measures which began in March 2020. Management expects the test period debt calculation to be 12.5% or greater which will allow the Company to exercise the extension option based solely on the terms of the loan agreement. If the debt yield calculation as of the end of the June 30, 2020 test period is less than 12.5%, management believes that the lender will agree to a one Management has concluded that there is substantial doubt about the Company's ability to continue as a going concern within one year of the issuance date of these consolidated financial statements due to the fact of the uncertainty regarding the loan maturity of the SPE Loan. Management believes that Hartman SPE will be able to extend the maturity date for one
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2016-2, Leases, along with various subsequent ASUs, which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e., lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification will determine whether the lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for in the same manner as the previous guidance for operating leases today. The Company adopted ASU 2016-02 on January 1, 2019, using the modified retrospective transition method such that we applied the standard as of the adoption date. The Company adopted the new standard using the practical expedient package which allowed the Company, as both the lessor and lessee to 1) not reassess whether any expired or existing contracts are or contain leases; 2) not reassess the lease classification for any expired or existing leases; and 3) not reassess initial direct costs for any existing leases. As of December 31, 2019, the Company, through SPE LLC has a ground lease for a parking lot located adjacent to the property at 601 Sawyer, Houston, Texas. The parking lot lease agreement expires at the end of September 2020. The Sawyer property is included in the Company’s consolidated financial statements as of December 31, 2019 and for the year ended December 31, 2019 because of the consolidation of SPE with the Company. SPE commenced operations and is consolidated with the Company for periods beginning after September 30, 2018. Lease payments under the parking lot lease agreement are $3,500 per month. As of December 31, 2019, 9 monthly payments remain under the lease agreement for a total of $31,500. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. In connection with the new revenue guidance (ASC 606), the new revenue standard will apply to other components of revenue deemed to be non-lease components. Under the new guidance, we will continue to recognize the lease components of lease revenue on a straight-line basis over our respective lease terms as we do under prior guidance. However, we would recognize these non-lease components under the new revenue guidance as the related services are delivered. As a result, the total revenue recognized over time would not differ under the new guidance. This does not result in a difference from how the Company has historically recognized revenue for these lease and non-lease components. Additionally, ASU 2016-2 requires that lessees and lessors capitalize, as initial direct costs, only those costs that are incurred due to the execution of a lease. Under ASU 2016-2, allocated payroll costs and other costs that are incurred regardless of whether the lease is obtained will no longer be capitalized as initial direct costs and instead will be expensed as incurred. This does not result in a difference from how the Company has historically recognized lease acquisition costs. On January 1, 2019, the Company adopted ASU 2018-07, "Improvements to Non-employee Stock-Based Payment Accounting." The updated guidance simplifies aspects of share-based compensation issued to non-employees by making the guidance consistent with the accounting for employee share-based compensation. The adoption of this guidance had no impact on our consolidated financial statements. On January 1, 2019, the Company adopted ASU 2017-12, "Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities". The purpose of this updated guidance is to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. The transition guidance provides companies with the option of either adopting the new standard early using a modified retrospective transition method in any interim period after issuance of the update, or alternatively adopting the new standard for fiscal years beginning after December 15, 2018. The adoption of this guidance had no impact on our consolidated financial statements. On January 1, 2018, the Company adopted ASU 2014-9, codified in Accounting Standards Codification (“ASC”) 606 - “Revenue from Contracts with Customers,” which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-9 replaces most existing revenue recognition guidance under GAAP. The standard permits the use of either the retrospective or cumulative effect transition method. Certain contracts with customers, principally lease contracts, are not within the scope of the new guidance. The Company has elected to use the modified retrospective method. The adoption of ASU 2014-9 has no impact on the Company’s consolidated financial statements on adoption” at January 1, 2018. On January 1, 2018, the Company adopted ASU 2016-17, “Interest Held Through Related Parties That Are Under Common Control,” issued by the FASB, which amends the accounting guidance when determining the treatment of certain VIE’s to include the interest of related parties under common control in a VIE when considering whether or not the reporting entity is the primary beneficiary of the VIE when considering consolidation. In connection with our adoption of ASU 2016-17, we have determined that SPE LLC is a VIE and that the Company is the primary beneficiary. Accordingly, the accounts of SPE LLC are included in our consolidated financial position as of December 31, 2018 and beginning October 1, 2018, in our consolidated results of operations. The Company and its affiliates, Hartman XIX and HIREIT, are guarantors of the SPE LLC note payable. In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments. The updated guidance requires measurement and recognition of expected credit losses for financial assets, including trade and other receivables, held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This is different from the current guidance as this will require immediate recognition of estimated credit losses expected to occur over the remaining life of many financial assets. Generally, the pronouncement requires a modified retrospective method of adoption. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2019, with early adoption permitted. In identifying all our financial instruments covered under this guidance, the majority of our instruments result from operating leasing transactions, which are not within the scope of the new standard and are to remain governed by the recently issued leasing guidance and other previously issued guidance. The adoption of this guidance had no impact on our consolidated financial statements.
Reclassification	Reclassification Certain items in the comparative consolidated financial statements have been reclassified to conform to the presentation adopted in the current period. Restricted cash reporting line was added on the face of the consolidated balance sheets. The balance currently reported as restricted cash was reported previously in the prepaid expenses and

Real Estate (Tables)

Real Estate (Tables)	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
Schedule of Real Estate Assets	The Company's real estate assets consisted of the following, in thousands: December 31, 2019 2018 Land $ 145,050 $ 145,050 Buildings and improvements 348,729 337,272 In-place lease value intangible 100,790 100,790 594,569 583,112 Less accumulated depreciation and amortization (117,652) (89,840) Total real estate assets $ 476,917 $ 493,272
Schedule of Total In-place Lease Intangible Assets and Accumulated Amortization	The amount of total in-place lease intangible asset and the respective accumulated amortization are as follows, in thousands: December 31, 2019 2018 In-place lease value intangible $ 100,790 $ 100,790 Less: In-place leases – accumulated amortization (68,884) (57,989) Acquired lease intangible assets, net $ 31,906 $ 42,801
Aggregate Future Amortization Amounts From Acquired Lease Intangibles	The estimated aggregate future amortization amounts from acquired lease intangibles are as follows, in thousands: December 31, In-place lease amortization 2020 $ 10,459 2021 8,410 2022 7,454 2023 5,583 2024 — Total $ 31,906

Accrued Rent and Accounts Rec_2

Accrued Rent and Accounts Receivable, net (Tables)	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Accrued Rent and Accounts Receivable, net	Accrued rent and accounts receivable, net, consisted of the following, in thousands: December 31, 2019 2018 Tenant receivables $ 5,929 $ 5,205 Accrued rent 9,244 8,386 Allowance for uncollectible accounts (2,597) (1,710) Accrued rents and accounts receivable, net $ 12,576 $ 11,881

Deferred Leasing Commission C_2

Deferred Leasing Commission Costs, net (Tables)	12 Months Ended
	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred Leasing Commission Costs, net	Costs which have been deferred consist of the following, in thousands: December 31, 2019 2018 Deferred leasing commissions $ 17,620 $ 12,671 Less: accumulated amortization (6,830) (4,370) Deferred leasing commission costs, net $ 10,790 $ 8,301

Future Minimum Rents (Tables)

Future Minimum Rents (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Summary of Minimum Future Rentals to be Received Under Noncancelable Operating Leases	A summary of minimum future rentals to be received (exclusive of renewals, tenant reimbursements, and contingent rentals) under noncancellable operating leases in existence at December 31, 2019 is as follows, in thousands: December 31, Minimum Future Rents 2020 $ 69,973,000 2021 61,237,000 2022 49,396,000 2023 37,477,000 2024 25,851,000 Thereafter 39,785,000 Total $ 283,719,000

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Mortgage Notes Payable	The following is a summary of the mortgage notes payable, in thousands: December 31, Property/Facility Payment (1) Maturity Date Rate 2019 2018 Richardson Heights (2) P&I July 1, 2041 4.61 % $ 17,260 $ 17,760 Cooper Street (2) P&I July 1, 2041 4.61 % $ 7,435 $ 7,632 Bent Tree Green (2) P&I July 1, 2041 4.61 % $ 7,435 $ 7,632 Mitchelldale (2) P&I July 1, 2041 4.61 % $ 11,263 $ 11,560 Promenade (3) P&I $ — $ 7,102 Hartman SPE LLC IO October 9, 2020 3.60 % $ 259,000 $ 259,000 Hartman XXI IO March 31, 2021 10.00 % $ 4,400 $ — $ 306,793 $ 310,686 Less unamortized deferred loan costs $ (3,754) $ (4,779) $ 303,039 $ 305,907 (1) Principal and interest (P&I) or interest only (IO). (2) Each promissory note contains a call option wherein the holder of the promissory note may declare the outstanding balance due and payable on either July 1, 2024, July 1, 2029, July 1, 2034, or July 1, 2039. (3) Hartman SPE LLC loan proceeds for the repayment of the Promenade loan were in escrow as of October 1, 2018. The loan was paid in full with the refinancing proceeds on February 15, 2019.
Annual Maturities of Notes	Annual maturities of notes payable as of December 31, 2019 are as follows, in thousands: December 31, Amount Due 2020 $ 260,253 2021 5,712 2022 1,374 2023 1,439 2024 1,506 Thereafter 36,509 Total $ 306,793
Amortized Loan Costs	The Company’s loan costs are amortized using the straight-line method over the term of the loans, which approximates the interest method. Costs which have been deferred consist of the following, in thousands: December 31, 2019 2018 Deferred loan costs $ 7,155 $ 7,082 Less: deferred loan cost accumulated amortization (3,401) (2,303) Total cost, net of accumulated amortization $ 3,754 $ 4,779

Loss Per Share (Tables)

Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Only those items that have a dilutive impact on basic loss per share are included in the diluted loss per share. December 31, 2019 2018 Numerator: Net income (loss) attributable to common stockholders $ (1,433) $ (827) Denominator: Weighted average number of common shares outstanding,basic and diluted 18,304 17,946 Basic and diluted loss per common share: Net loss attributable to common stockholders per share $ (0.08) $ (0.05)

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Cash Distribution Percentage	For Federal income tax purposes, the cash distributed to stockholders was characterized as follows for the years ended December 31: 2019 2018 Ordinary income (unaudited) 53.1 % 24.9 % Return of capital (unaudited) 46.9 % 75.1 % Capital gains distribution (unaudited) — % — % Total 100.0 % 100.0 %

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Distributions Paid in Cash and Through Distribution Reinvestment Plan	The following table reflects the total distributions the Company has paid in cash (in thousands, except per share amounts) and the amount through the distribution reinvestment plan, including paid per common share, in each indicated quarter: Quarter Paid Distributions per Common Share Total Distributions Paid 2019 4 th Quarter $ 0.175 $ 3,223 3 rd Quarter 0.175 3,224 2 nd Quarter 0.175 3,223 1 st Quarter 0.171 3,141 Total $ 0.696 $ 12,811 2018 4 th Quarter $ 0.175 $ 3,101 3 rd Quarter 0.175 3,151 2 nd Quarter 0.175 3,152 1 st Quarter 0.175 3,151 Total $ 0.700 $ 12,555

Organization and Business (Deta

Organization and Business (Details) $ / shares in Units, ft² in Millions	Jul. 21, 2017$ / shares	Dec. 31, 2019ft²property$ / shares	Dec. 31, 2018$ / shares	Oct. 01, 2018USD ($)property
Schedule of Equity Method Investments [Line Items]
Number of real estate properties		39
Commercial properties		43
Area of property (in square feet) | ft²		6.7
Common stock, par value (in dollars per share) | $ / shares		$ 0.001	$ 0.001
XIX Merger Agreement
Schedule of Equity Method Investments [Line Items]
Conversion rate	9,171.98
Common stock, par value (in dollars per share) | $ / shares	$ 0.01
HIREIT Merger
Schedule of Equity Method Investments [Line Items]
Conversion rate	0.752222
8% Cumulative Preferred Stock | XIX Merger Agreement
Schedule of Equity Method Investments [Line Items]
Conversion rate	1.238477
Preferred stock dividend rate	8.00%
9% Cumulative Preferred Stock | XIX Merger Agreement
Schedule of Equity Method Investments [Line Items]
Conversion rate	1.238477
Preferred stock dividend rate	9.00%
Common Stock | HIREIT Merger
Schedule of Equity Method Investments [Line Items]
Conversion rate	0.752222
Subordinated Common Stock | HIREIT Merger
Schedule of Equity Method Investments [Line Items]
Conversion rate	0.752222
Richardson, Arlington And Dallas, Texas
Schedule of Equity Method Investments [Line Items]
Number of real estate properties		15
Houston, Texas
Schedule of Equity Method Investments [Line Items]
Number of real estate properties		25
San Antonio, Texas
Schedule of Equity Method Investments [Line Items]
Number of real estate properties		3
TEXAS
Schedule of Equity Method Investments [Line Items]
Number of real estate properties		3
Hartman SPE LLC | Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Number of real estate properties				39
Notes Payable to Banks | Hartman SPE LLC
Schedule of Equity Method Investments [Line Items]
Debt instrument, face amount | $				$ 259,000,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2019USD ($)monthly_paymentextensionshares	Dec. 31, 2018USD ($)shares	Dec. 31, 2017USD ($)	Jun. 30, 2020	Mar. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Restricted cash	$ 26,078,000	$ 33,696,000
Impairment of real estate assets	0	0
Goodwill impairment	0	0	$ 0
Net loss	$ 5,995,000	$ 3,540,000
Antidilutive securities (in shares) | shares	0	0
Operating lease, monthly lease payment received	$ 3,500
Operating lease, number of monthly payments remaining | monthly_payment	9
Remaining lease payments	$ 31,500
Buildings and Improvements | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Useful life	5 years
Buildings and Improvements | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Useful life	39 years
SPE Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of extensions | extension	3
Debt instrument, term, extension period	1 year
Debt yield	13.29%
SPE Loan | Forecast
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt covenant, minimum debt yield required				12.50%
SPE Loan | Subsequent Event
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt yield					12.95%

Real Estate - Real Estate Asset

Real Estate - Real Estate Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Real Estate [Abstract]
Land	$ 145,050	$ 145,050
Buildings and improvements	348,729	337,272
In-place lease value intangible	100,790	100,790
Real estate assets, at cost	594,569	583,112
Less accumulated depreciation and amortization	(117,652)	(89,840)
Real estate assets, net	$ 476,917	$ 493,272

Real Estate - In-Place Lease In

Real Estate - In-Place Lease Intangible Assets and Accumulated Amortization (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Real Estate [Abstract]
In-place lease value intangible	$ 100,790	$ 100,790
Less: In-place leases – accumulated amortization	(68,884)	(57,989)
Acquired lease intangible assets, net	$ 31,906	$ 42,801

Real Estate - Future Amortizati

Real Estate - Future Amortization From Acquired Lease Intangibles (Details) - In-place leases $ in Thousands	Dec. 31, 2019USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
2020	$ 10,459
2021	8,410
2022	7,454
2023	5,583
2024	0
Total	$ 31,906

Real Estate - Additional Inform

Real Estate - Additional Information (Details) ft² in Millions	12 Months Ended
	Dec. 31, 2019USD ($)ft²property	Dec. 31, 2018USD ($)
Related Party Transaction [Line Items]
Depreciation expense | $	$ 16,917,000	$ 8,900,000
Amortization expense | $	$ 10,895,000	7,799,000
Area of property (in square feet) | ft²	6.7
Commercial properties | property	43
Number of real estate properties | property	39
Acquisition fees | $	$ 0	0
Asset management fees to advisor | $	$ 1,760,000	1,760,000
Economic development incentive agreement, annual grants, term	5 years
Economic development incentive agreement, annual grants, maximum amount | $	$ 1,500,000
Economic development incentive agreement, annual sales tax grants, term	10 years
Economic development incentive agreement, annual sales tax grants, application amount | $	$ 66,000	$ 82,000
Richardson, Arlington And Dallas, Texas
Related Party Transaction [Line Items]
Number of real estate properties | property	15
Houston, Texas
Related Party Transaction [Line Items]
Number of real estate properties | property	25
San Antonio, Texas
Related Party Transaction [Line Items]
Number of real estate properties | property	3
TEXAS
Related Party Transaction [Line Items]
Number of real estate properties | property	3

Accrued Rent and Accounts Rec_3

Accrued Rent and Accounts Receivable, net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Receivables [Abstract]
Tenant receivables	$ 5,929	$ 5,205
Accrued rent	9,244	8,386
Allowance for uncollectible accounts	(2,597)	(1,710)
Accrued rents and accounts receivable, net	12,576	11,881
Bad debt (recovery) expense	$ 1,674	$ (4)

Deferred Leasing Commission C_3

Deferred Leasing Commission Costs, net (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred leasing commissions	$ 17,620	$ 12,671
Less: accumulated amortization	(6,830)	(4,370)
Deferred leasing commission costs, net	$ 10,790	$ 8,301

Future Minimum Rents (Details)

Future Minimum Rents (Details) $ in Thousands	Dec. 31, 2019USD ($)
Leases [Abstract]
2020	$ 69,973
2021	61,237
2022	49,396
2023	37,477
2024	25,851
Thereafter	39,785
Total	$ 283,719

Notes Payable - Additional Info

Notes Payable - Additional Information (Details)	Oct. 01, 2018USD ($)extension_option	Dec. 31, 2019USD ($)propertyloan_outstanding	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Number of term loans outstanding | loan_outstanding		4
Outstanding balance		$ 306,793,000	$ 310,686,000
Number of real estate properties | property		39
Initial term of debt instrument		2 years
Debt instrument, extension term		1 year
Interest expense incurred		$ 13,834,000	11,306,000
Interest expense payable		$ 516,000	421,000
Secured Debt | Richardson Heights, Cooper Street, Bent Tree Green And Mitchelldale Property Loans
Debt Instrument [Line Items]
Amortization term		27 years
Outstanding balance		$ 43,393,000	44,584,000
Hartman SPE LLC | Notes Payable to Banks
Debt Instrument [Line Items]
Debt instrument, face amount	$ 259,000,000
Term of debt instrument	5 years
Initial term of debt instrument	2 years
Number of extensions | extension_option	3
Debt instrument, extension term	1 year
Hartman SPE LLC | LIBOR | Notes Payable to Banks
Debt Instrument [Line Items]
Basis spread on variable rate	1.80%
Maximum | Hartman SPE LLC | LIBOR | Notes Payable to Banks
Debt Instrument [Line Items]
Basis spread on variable rate	3.75%
Fair Value
Debt Instrument [Line Items]
Debt instrument, fair value disclosure		308,671,000	309,545,000
Book Value
Debt Instrument [Line Items]
Debt instrument, fair value disclosure		$ 306,793,000	$ 310,686,000

Notes Payable - Summary of Mort

Notes Payable - Summary of Mortgage Notes Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term debt, gross	$ 306,793	$ 310,686
Less unamortized deferred loan costs	(3,754)	(4,779)
Total	$ 303,039	305,907
Richardson Heights
Debt Instrument [Line Items]
Rate	4.61%
Long-term debt, gross	$ 17,260	17,760
Cooper Street
Debt Instrument [Line Items]
Rate	4.61%
Long-term debt, gross	$ 7,435	7,632
Bent Tree Green
Debt Instrument [Line Items]
Rate	4.61%
Long-term debt, gross	$ 7,435	7,632
Mitchelldale
Debt Instrument [Line Items]
Rate	4.61%
Long-term debt, gross	$ 11,263	11,560
Promenade
Debt Instrument [Line Items]
Long-term debt, gross	$ 0	7,102
Hartman SPE LLC
Debt Instrument [Line Items]
Rate	3.60%
Long-term debt, gross	$ 259,000	259,000
Hartman XXI
Debt Instrument [Line Items]
Rate	10.00%
Long-term debt, gross	$ 4,400	$ 0

Notes Payable - Annual Maturiti

Notes Payable - Annual Maturities of Notes Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
2020	$ 260,253
2021	5,712
2022	1,374
2023	1,439
2024	1,506
Thereafter	36,509
Total	$ 306,793	$ 310,686

Notes Payable - Amortization of

Notes Payable - Amortization of Loan Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Deferred loan costs	$ 7,155	$ 7,082
Less:  deferred loan cost accumulated amortization	(3,401)	(2,303)
Total cost, net of accumulated amortization	$ 3,754	$ 4,779

Loss Per Share (Details)

Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Numerator:
Net loss attributable to common stockholders	$ (1,433)	$ (827)
Denominator:
Basic and diluted weighted average shares outstanding (in shares)	18,304	17,946
Basic and diluted loss per common share:
Net loss attributable to common stockholders (in dollars per share)	$ (0.08)	$ (0.05)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Ordinary income (unaudited)	53.10%	24.90%
Return of capital (unaudited)	46.90%	75.10%
Capital gains distribution (unaudited)	0.00%	0.00%
Total	100.00%	100.00%
Provision for Texas Franchise Tax	$ 385,000	$ 267

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Mar. 01, 2019	Feb. 28, 2019	May 17, 2016	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2019	Feb. 26, 2019	Feb. 28, 2009
Related Party Transaction [Line Items]
Balance due (from) to the Property Manager				$ 1,168,000	$ 462,000
Due from other related parties				5,375,000	170,000
Due to related parties				$ 0	1,496,000
Share price (in dollars per share)								$ 10
Ownership percentage	36.16%	32.74%
Hartman SPE LLC
Related Party Transaction [Line Items]
Share price (in dollars per share)	$ 12.65
Variable Interest Entity, Primary Beneficiary | Hartman SPE LLC
Related Party Transaction [Line Items]
Additional ownership percentage acquired	3.42%
Chief Executive Officer
Related Party Transaction [Line Items]
Ownership percentage				20.00%
Allen R Hartman | Affiliated Entity
Related Party Transaction [Line Items]
Ownership percentage				70.00%
Property Manager | Affiliated Entity
Related Party Transaction [Line Items]
Ownership percentage				30.00%
Texas Limited Liability Company | Affiliated Entity | Asset Management Fees Payable
Related Party Transaction [Line Items]
Property management fees and reimbursements				$ 8,053,000	4,910,000
Payments for leasing commissions				4,948,000	4,103,000
Asset management fees				1,760,000	1,760,000
Due to related parties				$ 2,077,000	1,204,000
Due to related parties, monthly fees, percentage of asset cost or value				0.0625%
Texas Limited Liability Company | Affiliated Entity | Construction Management Fees Payable
Related Party Transaction [Line Items]
Asset management fees				$ 664,000	2,122,000
Hartman Short Term Income Properties XIX, Inc. | Affiliated Entity | Loan From Company To Related Party
Related Party Transaction [Line Items]
Loans receivable, face amount				$ 4,500,000
Loans receivable, interest rate				6.00%
Interest income, related party				$ 252,000	252,000
Hartman Short Term Income Properties XIX, Inc. | Affiliated Entity | Loan From Company To Related Party Hartman Retail II Holdings Co
Related Party Transaction [Line Items]
Loans receivable, related parties				$ 4,200,000
HIREIT, Inc. | Affiliated Entity | Acquisition Of Related Party Stock
Related Party Transaction [Line Items]
Ownership percentage				11.00%
HIREIT, Inc. | Affiliated Entity | Dividend Distributions
Related Party Transaction [Line Items]
Amounts of transaction with related party				$ 425,000	425,000
Hartman TRS, Inc. | Affiliated Entity | Loan From Company To Related Party
Related Party Transaction [Line Items]
Loans receivable, interest rate			10.00%
Origination fees, percentage			2.00%
Hartman TRS, Inc. | Affiliated Entity | Loan From Company To Related Party Hartman Retail II Holdings Co
Related Party Transaction [Line Items]
Loans receivable, face amount			$ 8,820,000
Loans receivable, related parties			$ 7,231,000	2,476,000	2,476,000
Interest income, related party				235,000	$ 456,000
Hartman TRS, Inc. | Affiliated Entity | Loan From Company To Related Party Hartman Ashford Bayou, LLC
Related Party Transaction [Line Items]
Loans receivable, face amount						$ 3,500,000
Loans receivable, interest rate			10.00%
Loans receivable, related parties				3,829,711		$ 3,829,711
Interest income, related party				298,000
Origination fees, percentage			2.00%
Hartman TRS, Inc. | Affiliated Entity | Loan From Company To Related Party Hartman Retail III Holdings Co
Related Party Transaction [Line Items]
Loans receivable, face amount							$ 7,500,000
Loans receivable, related parties				6,782,455			$ 6,782,455
Interest income, related party				570,000
Hartman vREIT XXI | Affiliated Entity | Loan From Related Party To Company
Related Party Transaction [Line Items]
Note payable to related party				$ 4,400,000
Debt instrument, stated interest rate				5.00%
Interest Expense, Related Party				$ 23,000
Common Stock | Hartman SPE LLC
Related Party Transaction [Line Items]
Shares issued in exchange for ownership (in shares)	700,302
Value of shares issued	$ 8,859,000
Common Stock | HIREIT, Inc. | Affiliated Entity | Acquisition Of Related Party Stock
Related Party Transaction [Line Items]
Shares acquired (in shares)				1,561,523
Value of shares acquired				$ 8,978,000

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 28, 2009	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Common stock, shares authorized (in shares)		750,000,000	750,000,000
Common stock, par value (in dollars per share)		$ 0.001	$ 0.001
Convertible, non-voting shares authorized (in shares)		200,000,000	200,000,000
Preferred stock, par value (in dollars per share)		$ 0.001	$ 0.001
Number of shares sold	19,000
Share price (in dollars per share)	$ 10
Preferred stock, shares issued (in shares)		1,000	1,000
Convertible Preferred Stock
Class of Stock [Line Items]
Share price (in dollars per share)		$ 10	$ 10
Preferred stock, shares issued (in shares)		1,000	1,000
Conversion terms, cumulative annual return on issue price, percentage		6.00%
Conversion terms, performance threshold		6.00%
Conversion terms, percentage of excess enterprise value		15.00%
Restricted Stock
Class of Stock [Line Items]
Shares of restricted common stock granted to directors (in shares)		51,000,000
Number of shares granted (in shares)		6,000	6,000
Stock-based compensation expense		$ 77,000	$ 77
Affiliated Entity | Hartman Advisors LLC (Advisor) | Convertible Preferred Stock
Class of Stock [Line Items]
Number of shares sold	1,000
Share price (in dollars per share)	$ 10
Hartman Advisors LLC (Advisor) | Hartman Income REIT Management Inc
Class of Stock [Line Items]
Ownership percentage by noncontrolling owners		30.00%
Hartman Advisors LLC (Advisor) | Allen R Hartman
Class of Stock [Line Items]
Ownership percentage by Company		70.00%
Allen R Hartman | Hartman Advisors LLC (Advisor)
Class of Stock [Line Items]
Ownership percentage by noncontrolling owners		20.00%

Stockholders' Equity - Distribu

Stockholders' Equity - Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Equity [Abstract]
Distributions per Common Share (in dollars per share)	$ 0.175	$ 0.175	$ 0.175	$ 0.171	$ 0.175	$ 0.175	$ 0.175	$ 0.175	$ 0.696	$ 0.700
Total Distributions Paid	$ 3,223	$ 3,224	$ 3,223	$ 3,141	$ 3,101	$ 3,151	$ 3,152	$ 3,151	$ 12,811	$ 12,555

Incentive Awards Plan (Details)

Incentive Awards Plan (Details)	12 Months Ended
	Dec. 31, 2019shares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Shares reserve for issuance (in shares)	5,000,000
Percentage of outstanding stock maximum	10.00%

Schedule III - Real Estate As_2

Schedule III - Real Estate Assets and Accumulated Depreciation and Amortization (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	$ 145,050
Building and Improvements	302,071
In-place lease value intangible	100,790
Total	547,911
Post-acquisition Improvements	46,658
Gross Carrying Amount
Land	145,050
Building and Improvements	348,729
In-place lease value intangible	100,790
Total	594,569	$ 583,112	$ 259,962
Accumulated Depreciation & Amortization	(117,652)
Net Book Carrying Value	476,917
Encumbrances	43,392
Garden Oaks
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	1,770
Building and Improvements	17,969
In-place lease value intangible	1,021
Total	20,760
Post-acquisition Improvements	458
Gross Carrying Amount
Land	1,770
Building and Improvements	18,427
In-place lease value intangible	1,021
Total	21,218
Accumulated Depreciation & Amortization	(994)
Net Book Carrying Value	20,225
Encumbrances
Quitman
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	3,130
Building and Improvements	2,389
In-place lease value intangible	351
Total	5,870
Post-acquisition Improvements	130
Gross Carrying Amount
Land	3,130
Building and Improvements	2,519
In-place lease value intangible	351
Total	6,000
Accumulated Depreciation & Amortization	(174)
Net Book Carrying Value	5,826
Encumbrances
Chelsea Square
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	1,570
Building and Improvements	5,046
In-place lease value intangible	494
Total	7,110
Post-acquisition Improvements	170
Gross Carrying Amount
Land	1,570
Building and Improvements	5,216
In-place lease value intangible	494
Total	7,280
Accumulated Depreciation & Amortization	(357)
Net Book Carrying Value	6,923
Encumbrances
Mission Centre
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	2,020
Building and Improvements	7,690
In-place lease value intangible	890
Total	10,600
Post-acquisition Improvements	51
Gross Carrying Amount
Land	2,020
Building and Improvements	7,741
In-place lease value intangible	890
Total	10,651
Accumulated Depreciation & Amortization	(632)
Net Book Carrying Value	10,019
Encumbrances
Regency
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	960
Building and Improvements	819
In-place lease value intangible	851
Total	2,630
Post-acquisition Improvements	338
Gross Carrying Amount
Land	960
Building and Improvements	1,157
In-place lease value intangible	852
Total	2,969
Accumulated Depreciation & Amortization	(342)
Net Book Carrying Value	2,627
Encumbrances
Spring Valley
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	3,490
Building and Improvements	1,064
In-place lease value intangible	1,066
Total	5,620
Post-acquisition Improvements	997
Gross Carrying Amount
Land	3,490
Building and Improvements	2,061
In-place lease value intangible	1,066
Total	6,617
Accumulated Depreciation & Amortization	(616)
Net Book Carrying Value	6,001
Encumbrances
Northeast Square
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	1,300
Building and Improvements	3,330
In-place lease value intangible	280
Total	4,910
Post-acquisition Improvements	75
Gross Carrying Amount
Land	1,300
Building and Improvements	3,405
In-place lease value intangible	280
Total	4,985
Accumulated Depreciation & Amortization	(227)
Net Book Carrying Value	4,758
Encumbrances
One Mason
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	2,440
Building and Improvements	9,290
In-place lease value intangible	1,130
Total	12,860
Post-acquisition Improvements	30
Gross Carrying Amount
Land	2,440
Building and Improvements	9,320
In-place lease value intangible	1,130
Total	12,890
Accumulated Depreciation & Amortization	(719)
Net Book Carrying Value	12,170
Encumbrances
Tower
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	2,750
Building and Improvements	2,584
In-place lease value intangible	1,336
Total	6,670
Post-acquisition Improvements	394
Gross Carrying Amount
Land	2,750
Building and Improvements	2,977
In-place lease value intangible	1,335
Total	7,062
Accumulated Depreciation & Amortization	(584)
Net Book Carrying Value	6,478
Encumbrances
Preserve
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	9,730
Building and Improvements	9,085
In-place lease value intangible	3,485
Total	22,300
Post-acquisition Improvements	441
Gross Carrying Amount
Land	9,730
Building and Improvements	9,526
In-place lease value intangible	3,485
Total	22,740
Accumulated Depreciation & Amortization	(1,617)
Net Book Carrying Value	21,124
Encumbrances
Westheimer
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	3,800
Building and Improvements	12,416
In-place lease value intangible	2,284
Total	18,500
Post-acquisition Improvements	543
Gross Carrying Amount
Land	3,800
Building and Improvements	12,959
In-place lease value intangible	2,284
Total	19,043
Accumulated Depreciation & Amortization	(1,312)
Net Book Carrying Value	17,731
Encumbrances
Walzem Plaza
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	3,900
Building and Improvements	10,660
In-place lease value intangible	1,840
Total	16,400
Post-acquisition Improvements	1,083
Gross Carrying Amount
Land	3,900
Building and Improvements	11,743
In-place lease value intangible	1,840
Total	17,482
Accumulated Depreciation & Amortization	(1,210)
Net Book Carrying Value	16,273
Encumbrances
11811 North Freeway
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	1,980
Building and Improvements	1,037
In-place lease value intangible	2,473
Total	5,490
Post-acquisition Improvements	311
Gross Carrying Amount
Land	1,980
Building and Improvements	1,348
In-place lease value intangible	2,473
Total	5,801
Accumulated Depreciation & Amortization	(883)
Net Book Carrying Value	4,918
Encumbrances
Atrium I
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	2,540
Building and Improvements	716
In-place lease value intangible	1,494
Total	4,750
Post-acquisition Improvements	524
Gross Carrying Amount
Land	2,540
Building and Improvements	1,240
In-place lease value intangible	1,494
Total	5,275
Accumulated Depreciation & Amortization	(569)
Net Book Carrying Value	4,706
Encumbrances
North Central Plaza
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	2,330
Building and Improvements	14,511
In-place lease value intangible	2,959
Total	19,800
Post-acquisition Improvements	1,087
Gross Carrying Amount
Land	2,330
Building and Improvements	15,598
In-place lease value intangible	2,959
Total	20,887
Accumulated Depreciation & Amortization	(1,544)
Net Book Carrying Value	19,342
Encumbrances
3100 Timmons
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	10,330
Building and Improvements	3,543
In-place lease value intangible	1,427
Total	15,300
Post-acquisition Improvements	718
Gross Carrying Amount
Land	10,330
Building and Improvements	4,261
In-place lease value intangible	1,428
Total	16,019
Accumulated Depreciation & Amortization	(673)
Net Book Carrying Value	15,345
Encumbrances
Central Park
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	730
Building and Improvements	2,851
In-place lease value intangible	989
Total	4,570
Post-acquisition Improvements	23
Gross Carrying Amount
Land	730
Building and Improvements	2,874
In-place lease value intangible	989
Total	4,593
Accumulated Depreciation & Amortization	(458)
Net Book Carrying Value	4,135
Encumbrances
601 Sawyer
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	3,360
Building and Improvements	12,796
In-place lease value intangible	1,144
Total	17,300
Post-acquisition Improvements	245
Gross Carrying Amount
Land	3,360
Building and Improvements	13,041
In-place lease value intangible	1,144
Total	17,545
Accumulated Depreciation & Amortization	(798)
Net Book Carrying Value	16,747
Encumbrances
Prestonwood
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	7,410
Building and Improvements	13,895
In-place lease value intangible	1,695
Total	23,000
Post-acquisition Improvements	182
Gross Carrying Amount
Land	7,410
Building and Improvements	14,076
In-place lease value intangible	1,695
Total	23,181
Accumulated Depreciation & Amortization	(1,073)
Net Book Carrying Value	22,108
Encumbrances
Harwin
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	1,960
Building and Improvements	3,041
In-place lease value intangible	279
Total	5,280
Post-acquisition Improvements	73
Gross Carrying Amount
Land	1,960
Building and Improvements	3,114
In-place lease value intangible	279
Total	5,353
Accumulated Depreciation & Amortization	(240)
Net Book Carrying Value	5,114
Encumbrances
Fondren
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	1,650
Building and Improvements	7,326
In-place lease value intangible	1,004
Total	9,980
Post-acquisition Improvements	220
Gross Carrying Amount
Land	1,650
Building and Improvements	7,546
In-place lease value intangible	1,005
Total	10,201
Accumulated Depreciation & Amortization	(774)
Net Book Carrying Value	9,427
Encumbrances
Cornerstone
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	1,110
Building and Improvements	1,620
In-place lease value intangible	920
Total	3,650
Post-acquisition Improvements	79
Gross Carrying Amount
Land	1,110
Building and Improvements	1,699
In-place lease value intangible	920
Total	3,729
Accumulated Depreciation & Amortization	(404)
Net Book Carrying Value	3,325
Encumbrances
Northchase
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	1,700
Building and Improvements	5,821
In-place lease value intangible	1,549
Total	9,070
Post-acquisition Improvements	573
Gross Carrying Amount
Land	1,700
Building and Improvements	6,394
In-place lease value intangible	1,549
Total	9,643
Accumulated Depreciation & Amortization	(783)
Net Book Carrying Value	8,860
Encumbrances
616 FM 1960
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	1,510
Building and Improvements	8,931
In-place lease value intangible	1,269
Total	11,710
Post-acquisition Improvements	239
Gross Carrying Amount
Land	1,510
Building and Improvements	9,170
In-place lease value intangible	1,269
Total	11,949
Accumulated Depreciation & Amortization	(812)
Net Book Carrying Value	11,137
Encumbrances
Gateway
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	3,510
Building and Improvements	22,182
In-place lease value intangible	3,408
Total	29,100
Post-acquisition Improvements	743
Gross Carrying Amount
Land	3,510
Building and Improvements	22,925
In-place lease value intangible	3,408
Total	29,843
Accumulated Depreciation & Amortization	(1,928)
Net Book Carrying Value	27,915
Encumbrances
Promenade
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	5,750
Building and Improvements	12,671
In-place lease value intangible	1,579
Total	20,000
Post-acquisition Improvements	153
Gross Carrying Amount
Land	5,750
Building and Improvements	12,824
In-place lease value intangible	1,578
Total	20,152
Accumulated Depreciation & Amortization	(1,060)
Net Book Carrying Value	19,092
Encumbrances
400 North Belt
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	2,538
Building and Improvements	3,800
In-place lease value intangible	3,812
Total	10,150
Post-acquisition Improvements	2,605
Gross Carrying Amount
Land	2,538
Building and Improvements	6,405
In-place lease value intangible	3,812
Total	12,755
Accumulated Depreciation & Amortization	(5,933)
Net Book Carrying Value	6,822
Encumbrances
Commerce Plaza Hillcrest
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	6,500
Building and Improvements	1,031
In-place lease value intangible	3,869
Total	11,400
Post-acquisition Improvements	2,240
Gross Carrying Amount
Land	6,500
Building and Improvements	3,271
In-place lease value intangible	3,869
Total	13,639
Accumulated Depreciation & Amortization	(5,538)
Net Book Carrying Value	8,101
Encumbrances
Corporate Park Place
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	2,375
Building and Improvements	5,215
In-place lease value intangible	1,910
Total	9,500
Post-acquisition Improvements	1,235
Gross Carrying Amount
Land	2,375
Building and Improvements	6,450
In-place lease value intangible	1,910
Total	10,736
Accumulated Depreciation & Amortization	(3,278)
Net Book Carrying Value	7,457
Encumbrances
Skymark Tower
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	2,212
Building and Improvements	4,404
In-place lease value intangible	2,230
Total	8,846
Post-acquisition Improvements	1,701
Gross Carrying Amount
Land	2,212
Building and Improvements	6,105
In-place lease value intangible	2,230
Total	10,546
Accumulated Depreciation & Amortization	(3,565)
Net Book Carrying Value	6,981
Encumbrances
Ashford Crossing
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	2,650
Building and Improvements	4,240
In-place lease value intangible	3,710
Total	10,600
Post-acquisition Improvements	2,079
Gross Carrying Amount
Land	2,650
Building and Improvements	6,319
In-place lease value intangible	3,710
Total	12,679
Accumulated Depreciation & Amortization	(5,443)
Net Book Carrying Value	7,236
Encumbrances
Energy Plaza I&II
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	4,403
Building and Improvements	6,840
In-place lease value intangible	6,367
Total	17,610
Post-acquisition Improvements	2,104
Gross Carrying Amount
Land	4,403
Building and Improvements	8,944
In-place lease value intangible	6,367
Total	19,713
Accumulated Depreciation & Amortization	(8,503)
Net Book Carrying Value	11,210
Encumbrances
Westway One
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	5,410
Building and Improvements	11,276
In-place lease value intangible	4,950
Total	21,636
Post-acquisition Improvements	340
Gross Carrying Amount
Land	5,410
Building and Improvements	11,616
In-place lease value intangible	4,951
Total	21,977
Accumulated Depreciation & Amortization	(4,692)
Net Book Carrying Value	17,285
Encumbrances
Three Forest Plaza
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	8,910
Building and Improvements	18,186
In-place lease value intangible	8,558
Total	35,654
Post-acquisition Improvements	3,300
Gross Carrying Amount
Land	8,914
Building and Improvements	21,486
In-place lease value intangible	8,557
Total	38,957
Accumulated Depreciation & Amortization	(9,771)
Net Book Carrying Value	29,186
Encumbrances
Parkway I&II
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	2,373
Building and Improvements	4,765
In-place lease value intangible	2,352
Total	9,490
Post-acquisition Improvements	2,825
Gross Carrying Amount
Land	2,373
Building and Improvements	7,590
In-place lease value intangible	2,352
Total	12,315
Accumulated Depreciation & Amortization	(5,048)
Net Book Carrying Value	7,267
Encumbrances
Gulf Plaza
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	3,488
Building and Improvements	6,005
In-place lease value intangible	4,457
Total	13,950
Post-acquisition Improvements	1,356
Gross Carrying Amount
Land	3,488
Building and Improvements	7,361
In-place lease value intangible	4,457
Total	15,306
Accumulated Depreciation & Amortization	(6,056)
Net Book Carrying Value	9,249
Encumbrances
Timbercreek
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	724
Building and Improvements	962
In-place lease value intangible	1,211
Total	2,897
Post-acquisition Improvements	619
Gross Carrying Amount
Land	724
Building and Improvements	1,581
In-place lease value intangible	1,211
Total	3,517
Accumulated Depreciation & Amortization	(1,711)
Net Book Carrying Value	1,806
Encumbrances
Copperfield
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	605
Building and Improvements	760
In-place lease value intangible	1,054
Total	2,419
Post-acquisition Improvements	520
Gross Carrying Amount
Land	605
Building and Improvements	1,280
In-place lease value intangible	1,054
Total	2,938
Accumulated Depreciation & Amortization	(1,153)
Net Book Carrying Value	1,785
Encumbrances
One Technology Center
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	4,894
Building and Improvements	8,558
In-place lease value intangible	6,123
Total	19,575
Post-acquisition Improvements	1,866
Gross Carrying Amount
Land	4,894
Building and Improvements	10,424
In-place lease value intangible	6,123
Total	21,441
Accumulated Depreciation & Amortization	(8,471)
Net Book Carrying Value	12,970
Encumbrances
Richardson Heights
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	4,788
Building and Improvements	10,890
In-place lease value intangible	3,472
Total	19,150
Post-acquisition Improvements	7,232
Gross Carrying Amount
Land	4,788
Building and Improvements	18,122
In-place lease value intangible	3,472
Total	26,382
Accumulated Depreciation & Amortization	(9,389)
Net Book Carrying Value	16,994
Encumbrances	17,259
Bent Tree Green
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	3,003
Building and Improvements	6,272
In-place lease value intangible	2,740
Total	12,015
Post-acquisition Improvements	3,351
Gross Carrying Amount
Land	3,003
Building and Improvements	9,623
In-place lease value intangible	2,740
Total	15,366
Accumulated Depreciation & Amortization	(6,067)
Net Book Carrying Value	9,299
Encumbrances	7,435
Cooper Street
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	2,653
Building and Improvements	5,768
In-place lease value intangible	2,192
Total	10,613
Post-acquisition Improvements	494
Gross Carrying Amount
Land	2,653
Building and Improvements	6,262
In-place lease value intangible	2,192
Total	11,107
Accumulated Depreciation & Amortization	(4,243)
Net Book Carrying Value	6,864
Encumbrances	7,435
Mitchelldale Business Park
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost
Land	4,794
Building and Improvements	9,816
In-place lease value intangible	4,565
Total	19,175
Post-acquisition Improvements	2,911
Gross Carrying Amount
Land	4,794
Building and Improvements	12,727
In-place lease value intangible	4,565
Total	22,086
Accumulated Depreciation & Amortization	(8,007)
Net Book Carrying Value	14,079
Encumbrances	$ 11,263

Schedule III - Real Estate As_3

Schedule III - Real Estate Assets and Accumulated Depreciation and Amortization - Summary of Activity of Real Estate Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at beginning of period	$ 583,112	$ 259,962
Acquisitions	0	0
Consolidation of Hartman SPE LLC	0	313,230
Improvements	11,457	9,920
Ending balance, before reduction for real estate asset sold	594,569	323,150
Reductions – cost of real estate assets sold	0	0
Balance at end of period	$ 594,569	$ 583,112