Silver Star Properties REIT Inc., formerly Hartman Short Term Income Properties XX Inc., announced that its indirect subsidiary, Hartman SPE LLC, which holds legacy office, retail, and industrial properties, has filed for Chapter 11 bankruptcy. 

This bankruptcy filing follows the recent sale of its Prestonwood property, generating $25 million in net proceeds. As reported by DIWire.com, the company stated that the filing aims to enhance its capacity to sell its remaining legacy assets.

Silver Star anticipates that the remaining assets, totaling $131 million under contract for sale, will generate sufficient funds to meet the $200 million loan balance required for refinancing with the replacement lender.

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