Silver Star Properties REIT Files Proxy Materials

TL;DR

Silver Star Properties REIT filed proxy docs, no fee. Standard stuff.

AI Summary

Silver Star Properties REIT, Inc. filed a Definitive Additional Materials proxy statement on September 10, 2025. This filing, under the 1934 Act, relates to the company's proxy materials and does not require a fee. The company's principal executive offices are located in Houston, Texas.

Why It Matters

This filing indicates ongoing corporate governance and shareholder communication activities for Silver Star Properties REIT, Inc., which is standard for publicly traded companies.

Risk Assessment

Risk Level: low — This is a routine filing of proxy materials, not indicating any unusual financial or operational events.

Key Players & Entities

• SILVER STAR PROPERTIES REIT, INC (company) — Registrant
• 0001446687-25-000141.txt (document) — Filing document name
• 20250910 (date) — Filing date
• 713-467-2222 (phone_number) — Business phone number
• Hartman Short Term Income Properties XX, Inc. (company) — Former company name

FAQ

Key Financial Figures

• $412 million — alue (NAV) sharply declined from around $412 million at the end of 2021 to approximately $22
• $228 million — ion at the end of 2021 to approximately $228 million by the end of 2022, with most of the de
• $40 million — ered after Hartman was ousted including $40 million initially identified but later increase
• $105 m — identified but later increased to over $105 million, covering essential repairs in HV
• $5 — he will distribute to each shareholder $5 to $6 per share in six months, which is
• $6 — ll distribute to each shareholder $5 to $6 per share in six months, which is an ut
• $22 million — s County case to uncover the use of the $22 million excess cash from Silver Star's SASB ref
• $730 million — perties of Silver Star of approximately $730 million to show the NAV of $412 million as of D
• $542 million — r showed a gross value of approximately $542 million (keep in mind Hartman's departure date
• $184 million — 2 the values went down by approximately $184 million 2 and the reduction is all attributable
• $188 million — uction in gross value was approximately $188 million during 2022, but other factors, that ar
• $119 million — ion shows that NAV decreased further by $119 million or 52.2% from Deferred Maintenance and
• $66.66 million — eferred maintenance issues increased by $66.66 million to $105.64 million but because Hartman'
• $105.64 million — e issues increased by $66.66 million to $105.64 million but because Hartman's business model fo

Filing Documents

• defa14a-september102025xth.htm (DEFA14A) — 89KB
• exhibit991-newsreleasexthe.htm (EX-99.1) — 68KB
• hartmansgrapha.jpg (GRAPHIC) — 39KB
• hartmansgraphb.jpg (GRAPHIC) — 39KB
• imagea.jpg (GRAPHIC) — 39KB
• imageb.jpg (GRAPHIC) — 39KB
• navdeclineduetohartmana.jpg (GRAPHIC) — 668KB
• navdeclineduetohartmanb.jpg (GRAPHIC) — 668KB
• 0001446687-25-000141.txt ( ) — 2212KB

From the Filing

- SEPTEMBER 10, 2025 - THE REST OF THE STORY Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material under Rule 14a-12 Silver Star Properties REIT, Inc. (Name of Registrant as Specified in Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box) No fee required Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11 (1) Title of each class of securities to which transaction applies (2) Aggregate number of securities to which transaction applies (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined) (4) Proposed maximum aggregate value of transaction (5) Total fee paid Fee paid previously with preliminary materials. Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. (1) Amount Previously Paid (2) Form, Schedule or Registration Statement No. (3) Filing Party (4) Date Filed 1 September 10, 2025, Silver Star Properties REIT, Inc. ("Silver Star" or the "Company") issued a shareholder letter entitled "The Rest of the Story." The News Release intended to provide shareholders with insight and clarity regarding the circumstances surrounding the Company's recent challenges, including the lasting impact of actions taken by its former Chief Executive Officer, Mr. Allen Hartman. The News Release further explains how these actions created significant future burdens that have contributed to the decline in the Company's NAV following his departure for "The Rest of the Story". Please refer to the full News Release presented below and attached hereto as Exhibit 99.1 for further details and where to access case information. Exhibit Index Exhibit Number Exhibit Description 99.1 News Release - Silver Star Properties REIT, Inc. dated September 10, 2025 2 September 10, 2025 Dear Silver Star Shareholders As the Board of Directors of Silver Star Properties REIT, we believe it is our fiduciary responsibility to tell you the whole story and the whole truth. Frankly, the whole truth takes some time to tell, which we encourage you to read. Yet we understand some prefer the executive summary, which follows. Executive Summary The complete analysis below focuses on the legacy asset issues left by former CEO Al Hartman, highlighting mismanagement, deception, and the financial and operational challenges resulting from and left behind after his tenure. Key points follow Hartman controlled Silver Star for over a decade but withheld critical information and engaged in deception, confirmed by judicial findings. Hartman avoided accountability, including failing to appear for a court-ordered deposition related to his fiduciary breach investigations. The Net Asset Value (NAV) sharply declined from around $412 million at the end of 2021 to approximately $228 million by the end of 2022, with most of the decline tied to issues during Hartman's leadership. Significant deferred maintenance was uncovered after Hartman was ousted including $40 million initially identified but later increased to over $105 million, covering essential repairs in HVAC, elevators, roofing, and more. Hartman's focus on distributions (that benefited him) over maintenance left Silver Star with deteriorating assets and escalating liabilities Financial challenges include loan defaults, significant unpaid and overdue accounts payable, exorbitant costs associated the illegal liens placed by Hartman, and legal actions further reducing NAV. The NAV reported excluded maintenance costs as appraisers were not allowed to inspect properties, making the NAV theoretical rather than reflecting fair market value. The ongoing investigation may reveal additional facts and liabilities. The ongoing investigations have been further delayed by Hartman's no show for a recent deposition in the Harris County case where damages are being sought from Hartman and others for the benefit of the shareholders. He does not want to be forced to pay you back. In visiting at length with shareholders and licensed reps over the last few days, Silver Star has discovered that Hartman has proposed that he will distribute to each shareholder $5 to $6 per share in six months, which is an utter impossibil

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View this DEFA14A filing on SEC EDGAR