silver-star-properties-reit,-inc.

Company Overview

Silver Star Properties REIT, Inc. is a self-managed real estate investment trust (REIT) specializing in institutional-grade self-storage property acquisitions, while also managing office and retail assets primarily in the Houston, Dallas, and San Antonio markets. Initially formed on February 5, 2009, under the name Hartman XX, the company has a history of operational excellence and is committed to providing quality returns to investors.

The company emphasizes transparency and integrity in its investment practices and is currently transitioning from its traditional office REIT framework towards a broader portfolio, including self-storage facilities. This strategic shift aims to enhance liquidity for shareholders, potentially through mechanisms like a tender offer, resumption of share redemptions, and a possible listing on a national exchange.

• Address: 2909 Hillcroft, Suite 420, Houston, Texas 77057

• Contact:

• Phone: 713-467-2222

• Toll-Free: 800-880-2212

• Email: generalinfo@hi-reit.com

Executive Team

Gerald Haddock

• Position: CEO, Chairman of the Board, Chairman of the Executive Committee

• Background:

• Co-founder, former President and CEO of Crescent Real Estate Equities

• Formed Haddock Enterprises, LLC in 2000, focusing on private equity and commercial real estate investments

• Serves on multiple for-profit and non-profit boards, including Meritage Homes Corporation and Baylor College of Medicine

• Educational Qualifications:

• BBA from Baylor University

• JD from Baylor University School of Law

• LLM from New York University School of Law

• MBA from Dallas Baptist University

• LinkedIn: [Gerald Haddock](https://www.linkedin.com/in/geraldhaddock)

David Wheeler

• Position: Chief Operating Officer

• Background:

• Over 35 years in acquisition, disposition, financing, and leasing of commercial real estate

• Former Vice President at CBRE, managing sales of over nine million square feet in South-Central U.S.

• Responsibilities at Silver Star:

• Sourcing investment opportunities, closing and ownership transition, asset management, and disposition

• Oversees company’s capital markets activities, finance committee, and leasing/marketing

• Educational Qualifications:

• MBA in Real Estate from Southern Methodist University

• BS in Civil Engineering from Texas A&M University

• LinkedIn: [David Wheeler](https://www.linkedin.com/in/david-wheeler-1313987)

Adrienne Collins

• Position: General Counsel and Corporate Secretary

• Background:

• Experienced in corporate governance, equity raises, leasing, management, and brokerage agreements

• Previous attorney in private practice focusing on commercial real estate and related sectors

• Educational Qualifications:

• Doctor of Jurisprudence from South Texas College of Law

• Bachelor of Journalism from the University of Texas at Austin

• LinkedIn: [Adrienne Collins](https://www.linkedin.com/in/adrienne-collins-9705871a3)

Louis T. Fox, III

• Position: Chief Financial Officer & Treasurer

• Background:

• Former CFO at Legacy Brands and Unidynamics, Inc.

• Significant experience in manufacturing, construction, and debt collection sectors

• Responsibilities:

• Financial reporting, accounting, treasury, and investor relations

• Educational Qualifications:

• Bachelor of Arts in Accounting from the University of Texas at San Antonio

• LinkedIn: [Louis Fox](https://www.linkedin.com/in/lou-fox-a4285b17)

Corporate Strategy and Recent Developments

Silver Star Properties REIT is transitioning its focus to self-storage assets, which are considered more resistant to inflation and recession. This strategic direction includes:

• Expanding Asset Classes: Broadening the portfolio to include more diverse property types over an 18 to 24-month period.

• Enhancing Shareholder Liquidity: Potential mechanisms include a tender offer, resumption of share redemptions, and potentially listing the securities on a national exchange.

• Operational Efficiency: Lowering operating expenses and repositioning assets to allow investment trading at a premium NAV.

Recent News Highlights

1. Fourth Self Storage Property Acquisition:

• On July 25, 2024, Silver Star announced the acquisition of its fourth self-storage property, strengthening its focus on this asset class.

2. Significant Progress in New Direction Plan:

• Announced on July 5, 2024, detailing ongoing efforts and initiatives that align with their strategic pivot.

3. Corporate Update and Realignment:

• Updates on May 16, 2024, regarding the company's Southern Star operations and realignment among executive roles.

For more information and to stay updated with the latest announcements, visit the [Silver Star Properties REIT News Page](https://silverstarreit.com/reit-news/).

Disclaimer: Past performance is not indicative of future results. All investments involve risk, and investors should consult their financial advisors before making investment decisions.

Competitor Profiling

Overview

Silver Star Properties REIT, Inc. (formerly Hartman Income REIT Management, Inc.) has expanded significantly over the past 39 years. The company sponsors commercial real estate programs that offer a mix of income and capital appreciation.

Key Competitors

1. Equity Residential (EQR)

• Overview: Equity Residential is a prominent S&P 500 company focusing on acquiring, developing, and managing rental apartment properties. It operates 299 properties comprising 79,738 apartment units.

• Goals: Focuses on high-quality rental properties in major urban centers such as Boston, New York, Washington, D.C., Seattle, San Francisco, and Southern California, with expanding presence in Denver, Atlanta, Dallas/Ft. Worth, and Austin.

• Financials: Annual revenue and assets are not specified, but notable earnings include compensation for executives such as CEO Mark J. Parrell ($3.23M).

2. Ventas, Inc. (VTR)

• Overview: Ventas, an S&P 500 entity, concentrates on healthcare real estate investment. It holds approximately 1,350 properties across North America and the UK, playing a crucial role in supporting the aging population.

• Portfolio: Includes senior housing communities, outpatient medical buildings, research centers, and healthcare facilities.

• Financials: Approximately $35B in enterprise value. Key executive compensation details include CEO Debra A. Cafaro ($3.92M).

3. Arbor Realty Trust, Inc. (ABR)

• Overview: Arbor Realty is a REIT providing commercial mortgage and multifamily loan services. They specialize in structured finance assets within the multifamily and single-family rental sectors.

• Portfolio: Investments include bridge loans, mezzanine loans, mortgage-related securities, and multifamily residential financing.

• Financials: CEO Ivan Paul Kaufman received $8.47M. The company maintains a full-time workforce of 647 employees.

4. Americold Realty Trust, Inc. (COLD)

• Overview: Americold specializes in temperature-controlled logistics with a focus on warehousing and distribution.

• Portfolio: Operates 245 temperature-controlled warehouses across the globe, offering comprehensive supply chain solutions.

• Financials: CEO George F. Chappelle Jr. earned $3.14M, with approximately 14,559 employees.

5. Mid-America Apartment Communities, Inc. (MAA)

• Overview: MAA is an S&P 500 REIT active in the acquisition, development, redevelopment, and management of apartment communities, especially in the Southeast, Southwest, and Mid-Atlantic regions of the United States.

• Portfolio: Currently holds ownership interest in 102,662 apartment units across 16 states and D.C.

• Financials: CEO H. Eric Bolton Jr. received $3.29M in compensation.

Performance Metrics

• Silver Star Properties:

• Annual Revenue: $98.1M as of December 31, 2022.

• Assets: $100.75M in self-storage and single-tenant real estate, excluding Southern Star DSTs assets.

Insights

• Silver Star Properties faces competition from well-established REITs like Equity Residential and Ventas, Inc. that dominate urban and healthcare real estate segments.

• Competing firms invest in niche areas such as temperature-controlled logistics and multifamily loan services, which represents potential diversification opportunities for Silver Star Properties.

• The compensation details of executives in competitor firms indicate a market trend of investing in experienced management to drive strategic growth in real estate investments.

Silver Star Properties should consider leveraging its established history and robust asset base to explore emerging markets and diversify its portfolio to remain competitive amidst its industry rivals.