timbercreek-atrium

Hartman XX Adds Houston Suburban Office Portfolio

Originally published on January 21, 2015, at Hartman Income REIT Management,Inc.

HOUSTON – Hartman Short Term Income Properties XX, Inc. (Hartman XX), a Houston based Real Estate Investment Trust, announced that Hartman Highway 6 LLC, an affiliate, has purchased the Timbercreek Atrium and Copperfield office buildings on December 30, 2014.

“Timbercreek Atrium and Copperfield office buildings provide Hartman XX with the opportunity to enhance investor returns through lease up and more efficient operations. The acquisitions are immediately accretive and they are being acquired at a deep discount to replacement cost and expand our presence into a desirable part of Houston with attractive demographics.”  said Dave Wheeler, EVP & Chief Investment Officer.

Timbercreek Atrium & Copperfield are two Class B office buildings totaling 93,656 square feet. The multi-story office buildings are located in the highly desirable Northwest Houston Submarket located along Highway 6 between Interstate 10 and FM 529.

Timbercreek Atrium is a three story, 51,035 SF building located at US Highway 6 North and & Timbercreek Place.  As of December 2014, the property was 79% leased to a diverse mix of tenants.

Timbercreek Atrium

Lead tenants at the property include: The Loken Group, H2O, and the Harris County Hospital District.

Copperfield Building is a three story, 42,621 SF office building located on Spencer Rd and US Highway 6.  As of December 2014, the property was 80% leased to a diverse mix of tenants.

Lead tenants at the property include: J. P. Morgan Chase Bank, Deep Sea Development, and Harvey Home Health.

Both buildings are located in the desirable Northwest submarket of Houston and are surrounded by dense residential development from which the buildings pull much of their tenancy.

“We consistently strive to create value for our investors and the growth of the Hartman XX portfolio is our top priority. The acquisition of Timbercreek Atrium and Copperfield is another step forward in our plan to accomplish this,” said Al Hartman, CEO of Hartman XX.

Joshua Lass-Sughrue, Douglas Pack and Sam Hansen of NAI Partners in conjunction with Jordan Summerville of C-III Realty Services represented the seller in the transaction and Dave Wheeler, Julian Kwok, CCIM and Russell Turman represented the buyer, Hartman Highway 6 LLC.

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Al Hartman, CEO of Hartman Income REIT Management,Inc.

Al Hartman is President and Chairman of our Board of Directors of two public real estate companies; USPC and The Elijah Challenge. Mr. Hartman began his career in the real estate business in 1972. In 1984 he formed Hartman Management and began sponsoring private real estate investment programs. Over the next 28 years, Mr. Hartman has built the company into one of the leading commercial property management firms in the state of Texas, and sponsored 20 privately offered programs and two publicly offered programs that invested in commercial real estate in Houston, San Antonio and Dallas, Texas. In addition to his day to day management responsibilities, Mr. Hartman serves as the principal officer of each Hartman sponsored investment programs.

Mr. Hartman is a firm believer in working to glorify God in the work place by operating with excellence. This vision has led HI-REIT to succeed and not only achieve but also surpass all its goals. Sharing God’s blessings is one of core values honored at HI-REIT, aside from his work there, Mr. Hartman also supports various faith based organizations. He serves as Deacon at Second Baptist Church and is also a member of the Board of Directors of the Houston Area Pastors Council. Mr. Hartman is currently the president of The Elijah Challenge Ministry in India, and it is his personal mission to train pastors in India to promote Christianity in this part of the world. He is in the President’s Cabinet at the college of Biblical studies and serves on the Development Board for Houston Baptist University. He also participates as a member of the “C” club, Houston Breakfast Club, ADISSA-REIT Organization, REISA-REIT Organization, and Vision America. Some former organizations he was in the Board of Advisors for in include the CHAIM Ministry to Israel and Houston Property Rights Association.

Mr. Hartman’s time in real estate and extensive charity and ministry work have provided him with a broad range of experience in the private and nonprofit sector. He Studied Business Administration at the University of Colorado. With his knowledge and expertise, Mr. Hartman has developed HI-REIT and many other organizations in the past thirty years from the ground up.