HOUSTON – (Realty News Report) – The Hartman Short Term Income Properties XX, a Houston-based REIT, has named Allen R. Hartman as Executive Chairman. Mark T. Torok, previously the company’s Chief Operating Officer, was named Chief Executive Officer.
In his role as executive chairman, Hartman, the Company’s founder, will serve as a strategic advisor to Torok and the board of directors.
With over 40 years of experience, Al Hartman built the Hartman Companies 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 have invested in commercial real estate in Houston, San Antonio and Dallas, Texas.
Mr. Hartman, 70, is recognized as a thought leader in the commercial real estate industry, has been successful with a strategy of leasing to smaller tenants and having finished offices ready for immediate move-in.
“One of the reasons we are so successful is that we prepare spaces in advance,” Hartman said in an interview with Realty News Report earlier this year. “We don’t wait for a potential tenant to come to us and ask us to design or prepare a space. We set up spaces for firms that need 2,500 SF or less – for 1,500, 2,000 or 2,500 SF. They go in and look at it and sign a lease. It’s a very effective way to lease.”
Mr. Hartman has worked with Torok for a number of years.
“Mark has proven himself as a strong leader. The company previously benefitted from his insights and practical problem-solving. I believe he is uniquely poised to lead the company as we strengthen our portfolio and move forward to our ambitious goals in the future,” said Hartman.
Torok has more than 30 years of regulatory, compliance, securities and real estate experience. He served as an administrative law judge early in his career and has held several executive positions including director of regulatory compliance at USAA and chief compliance officer at Argonaut Insurance Group. He holds a bachelor’s degree in economics and a juris doctor from Willamette University College of Law, as well as FINRA 7, 24, and 63 securities licenses.
“This is an important time for Hartman Short Term Income Properties XX, Inc., and I’m honored to lead this company and this great team,” said Torok. “I look forward to continuing to work with Al as we focus shareholder value over the long term.”
Allen Hartman started his career in 1978, selling home improvement services to residential owners. By 1983, Hartman developed a proprietary value-oriented investment strategy, which formed the foundation of the “Hartman Advantage.” Through the late 1980s and early 1990s, he purchased approximately 20 foreclosed properties. Today, those assets generate significant cash flow. Over the past 36 years, Al Hartman has refined his value-oriented investment strategy and led a team of executives to deliver value to nearly 6,000 investors.
The Hartman organization has a portfolio of more than 8 million SF of office and retail properties in Houston, Dallas and San Antonio.
Oct. 19, 2022 Realty News Report Copyright 2022
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