HOUSTON — Houston-based Hartman Income REIT, on behalf of Hartman Income REIT Property Holdings, has completed a $67.6 million credit facility with an affiliate of J.P. Morgan. The non-recourse loan is secured by a 12-property, approximately 3.2 million-square-foot portfolio owned by Hartman. The properties are located in Houston, Dallas and San Antonio, and comprise office, flex and retail buildings. The debt was structured by Tom Melody and Bernard Branca of CBRE Melody on behalf of Hartman. The proceeds will be used to refinance all of the properties’ existing credit facilities, fund the redemption of non-accredited investors in connection with the company’s earlier formation transactions, and provide additional working capital. Terms of the loan were not disclosed.
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