Three Hartman REITs Announce Definitive Merger Agreement

“The special committees of the boards have put forth a tremendous effort on behalf of their respective shareholders and have structured a deal that truly results in a ‘win-win’ for all the shareholders involved.” – Allen R. Hartman

Hartman Short Term Income Properties XX, Inc., a Maryland corporation, (“Hartman XX”), Hartman Income REIT, Inc., a Maryland corporation, (“HI-REIT”) and Hartman Short Term Income Properties XIX, Inc., a Texas corporation (Hartman XIX”) today jointly announced that they had signed definitive merger agreements, pursuant to which: (i) Hartman XIX will merge with and into Hartman XX, with Hartman XX surviving the merger (the “Hartman XIX Merger”); (ii) HI-REIT will merge with and into Hartman XX, with Hartman XX surviving the merger (the “HI-REIT Merger,” and together with the Hartman XIX Merger, the “REIT Mergers”) and (iii) the Hartman Income REIT Operating Partnership LP, a Delaware limited partnership (” HI-REIT Operating Partnership”) will merge and with and into Hartman XX Limited Partnership, a Texas limited partnership, with the Hartman XX Limited Partnership surviving the merger (the “Partnership Merger,” and together with the REIT Mergers, the “Mergers”). The merger agreements were negotiated on behalf of the respective REITs by separate special committees of their respective board of directors. Each of the Hartman XX Special Committee, the HI-REIT Special Committee and the Hartman XIX Special Committee recommended approval of the merger agreements, including the Mergers, to their respective boards of directors, each of which subsequently approved entry into the merger agreements. The REIT Mergers are subject to the approval of the respective REIT’s…

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