Hartman Adds New Availability to Existing Credit with Gulf Plaza Acquistion
Hartman Short Term Properties XX, Inc., an affiliate of Hartman Income REIT, a Houston based Real Estate Investment Trust, announced today increase of $7 million of availability on its credit facility with Texas Capital Bank. Hartman Short Term Properties XX, Inc. acquired Gulf Plaza, a 120,651 square foot office building in Houston TX and leveraged the asset at 50% to increase its capacity on its line of credit. The existing facility is structured to provide capacity for Hartman Short Term Properties XX, Inc. to potentially borrow up to $30 Million to fund future acquisitions. “This increase in availability will allow us to expand our investments and increase profits for our investors,” states Al Hartman, CEO.
Dave Wheeler and Julian Kwok, CCIM represented the borrower Hartman Short Term Income Properties XX, Inc. and Elizabeth Falco represented the lender, Texas Capital Bank.
HARTMAN INCOME REIT’S EXISTING PORTFOLIO
Hartman Income REIT and its affiliates, headquartered in Houston, Texas, are a $385,000,000 Real Estate Investment Trust which owns and/or manages 37 properties and 5,040,000 square feet of office, industrial and retail space. Our properties are located in Houston, Dallas and San Antonio, Texas. For more information, please contact Dave Wheeler, at 214-432-3706.
Texas Capital Bank is a commercial bank that delivers highly personalized financial services to businesses and private clients. The Bank has $8.5 billion in assets and has full-service locations in Austin, Dallas, Fort Worth, Houston and San Antonio. It is the primary subsidiary of Texas Capital Bancshares (NASDAQ: TCBI), which is included in the Russell 2000 ® Index. For more information, visit
- www.texascapitalbank.com
or contact Elizabeth Falco at 214-932-6697.