UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of report (Date of earliest event reported):
December
17, 2010
HARTMAN
SHORT TERM INCOME PROPERTIES XX, INC.
(Exact
name of registrant as specified in its charter)
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Maryland
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333-154750
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26-3455189
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(State
of Organization)
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(Commission
File Number)
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(I.R.S.
Employer
Identification
Number)
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2909
Hillcroft, Suite 420
Houston,
Texas
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77057
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(Address
of principal executive offices)
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(Zip
Code)
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(713)
467-2222
(Registrant’s
telephone number, including area code)[Missing Graphic Reference]
Check
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General
Instruction A.2. below):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
8.01. Other Events.
On
December 17, 2010, the Board of Directors of Hartman Short Term Income
Properties XX, Inc. (the “Company”) authorized the Company’s officers to take
the necessary actions to enter into a joint venture agreement with Hartman Short
Term Income Properties XIX, Inc. (“Hartman XIX”) to provide approximately 10% of
the equity capital required to acquire, on an all cash basis, a retail shopping
center with an expected total acquisition cost of approximately $19.15
million. The acquisition of the joint venture interest by the Company
is made contingent upon the following: (i) the sale of the minimum amount of
200,000 shares of the Company’s common stock required to release offering
proceeds from the escrow account in accordance with the Company’s prospectus
relating to its public offering; (ii) completion of satisfactory due diligence
and appraisals regarding the property to be acquired by the joint venture; and
(iii) the absence of a material adverse change to the property to be acquired by
the joint venture prior to the acquisition date of the joint venture
interest.
On
December 17, 2010, the Company’s Board of Directors also authorized the payment
of cash distributions to the Company’s shareholders, contingent upon the
acquisition of the joint venture interest. Distributions will (i)
accrue daily to the Company’s shareholders of record as of the close of business
each day commencing one day following the close of the acquisition of the joint
venture interest and the property acquisition by the joint venture, (ii) be
payable in cumulative amounts on or before the 20th day of
each calendar month and (iii) be calculated at a rate of $0.001918 per share of
common stock per day, a rate which, if paid each day over a 365-day period, is
equivalent to a 7.0% annualized distribution rate based on a purchase price of
$10.00 per share of common stock.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
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HARTMAN
SHORT TERM INCOME PROPERTIES XX, INC.
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By:
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/s/
Allen R. Hartman
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Date:
December 17, 2010
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Allen
R. Hartman,
Chairman
of the Board and
Chief
Executive Officer
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