Ankündigung • Nov 18
Silver Star Properties REIT, Inc. announced delayed 10-Q filing On 11/17/2025, Silver Star Properties REIT, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Ankündigung • Oct 29
Hartman Group Distributes Letter to Shareholders On October 27, 2025, the Hartman Group distributed a letter to shareholders addressing the ongoing issues with Silver Star, highlighting a pattern of deception and accountability concerns. The letter emphasized that Silver Star continues to delay the court-ordered annual meeting for a shareholder vote, misusing shareholder funds in the process. It detailed several critical points, including Silver Star's solicitation of proxy votes without providing audited financial statements for fiscal years 2023 and 2024, despite a Maryland court's ruling against such actions. The letter also pointed out the discriminatory "flip-in" stock distribution that unfairly benefited management while excluding approximately 20% of shareholders. Furthermore, it criticized Silver Star for improperly refusing requests for books and records, which hindered the Hartman Group's ability to contact shareholders during the proxy solicitation. Lastly, the letter revealed that Silver Star's claim of receiving 51% shareholder support for their consent solicitation was misleading, as the Hartman Group had delivered consent revocations from holders of approximately 30% of outstanding shares, indicating that substantially less than 51% supported Silver Star’s actions. The Hartman Group reiterated that the courts had made it clear that no further extensions would be granted for the annual meeting, underscoring the urgency of the situation. Ankündigung • Oct 24
Allen R. Hartman Sends Letter to Shareholders of Silver Star Properties REIT On October 21, 2025, Allen R. Hartman distributed a letter to the shareholders of Silver Star Properties REIT, Inc., stating that the Company has once again postponed the shareholder meeting this time, indefinitely. He added that this is the sixth time the company has postponed shareholders' right to vote. Six times, they have found excuses to avoid accountability to shareholders. Ankündigung • Oct 23
Hartman Sends a Letter to the Shareholders of Silver Star On October 22, 2025, the Hartman Group distributed a letter to shareholders and initiated communication with shareholders of Silver Star, urging them to express their dissatisfaction with the management's financial practices. He highlighted that millions in legal fees are being spent to avoid accountability and delay the shareholder vote, while over $1 million annually is allocated for executive compensation in 2024 for management that has destroyed shareholder value. Furthermore, it was noted that 3 million shares were awarded to Gerald Haddock despite poor performance. According to a whistleblower, shareholder investments are not being directed towards paying vendors who maintain properties or for property improvements and maintenance. Instead, the management is allegedly extracting as much money as possible from the properties to cover legal fees and salaries. Hartman emphasized the need for the Board of Directors to hear directly from shareholders, stating that they are fed up with the destruction of their investment value and the continuous delays. He called for immediate action, including stopping the spending of shareholder money on litigation, paying vendors, holding the postponed shareholder meeting, and ceasing the sale of properties at fire sale prices. Hartman encouraged shareholders to vote the BLUE card to demonstrate their rejection of the current management's actions and to ensure their voices are heard despite the ongoing delays and obstruction. Ankündigung • Oct 21
Hartman Sends Letter to Shareholders of Silver Star Properties On October 20, 2025, Allen R. Hartman announced that he has sent a letter to shareholders of Silver Star Properties REIT Inc stating that Company was attempted in court to void all its proxy votes and delay the meeting again, the court denied Silver Star’s requested relief, and recommended the Company shareholders to vote for the election of its board nominees rejection of the Company’s alternate strategy proposal, and in favor of liquidating the Company’s assets in an orderly manner in accordance with the terms of its articles of incorporation and returning capital to stockholders. Ankündigung • Aug 15
Silver Star Properties REIT, Inc. announced delayed 10-Q filing On 08/14/2025, Silver Star Properties REIT, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Ankündigung • Aug 01
Allen R. Hartman Distributes a Letter to Shareholders of Silver Star Properties REIT On July 31, 2025, Allen R. Hartman filed a definitive proxy statement with the SEC to solicit votes for the election of his nominated directors and to reject Silver Star Properties REIT, Inc.’s alternate strategy proposal in favor of liquidating the Company’s assets and returning capital to shareholders. Ankündigung • Jul 25
Allen R. Hartman Distributes a Letter to Shareholders of Silver Star Properties REIT On July 24, 2025, Allen R. Hartman announced that Silver Star Properties REIT’s ‘New Direction Plan’ has failed, leading to significant asset value loss and lack of transparency. Allen R. Hartman also urges shareholders to vote for their proposals for transparency and capital return at the upcoming proxy vote. Ankündigung • Jul 15
Hartman Group Sends Letter to Shareholders of Silver Star Properties REIT On July 14, 2025, Allen R. Hartman sent a letter to shareholders of Silver Star Properties REIT Inc, stating that the Company’s net asset value dropped from $228 million in December 2022 to $20.6 million in March 2025, the decline is attributed to poor management and failed strategies by Haddock and his colleagues, and Haddock awarded himself 1,000,000 SSP shares at no cost and received outsized executive compensation, the executive committee awarded themselves profits interest, which they claim has no current value. In addition, Hartman stated that the New Direction Plan was poorly executed and led to significant value destruction, Haddock and his colleagues have selectively released limited operating information and engaged in stonewalling and revisionist history to hide their incompetence. Further, Hartman stated that the alternative proposal involves liquidating the company's assets and returning capital to shareholders, nominated directors, Longnecker, Thomas, and Hartman, have proven experience and aim to restore shareholder value, and urged the shareholders to vote against the Company board nominees at the annual meeting of shareholders. Ankündigung • Jun 14
Hartman Group Issues a Letter to Shareholders of Silver Star Properties On June 13, 2025, Allen R. Hartman announced that he has issued a letter to shareholders of Silver Star Properties REIT Inc, stating that over $395 million in legacy assets sold since late 2022, but proceeds reinvested without shareholder permission, investments in Walgreens stores and mini-storage properties with high borrowing costs (19% interest) and low yields (3-4%), negative cash flow and failure to generate shareholder returns, new portfolio generates $5.8 million in annual NOI against $8.7 million in debt costs, increasing financial risk. In addition, Allen Hartman proposed a new strategy that sell Walgreens and mini-storage assets, focus on leasing up and maximizing value from legacy assets, start returning capital to shareholders immediately, and Allen Hartman stated that the reason for change is the Net Asset Value dropped from $412 million to $134 million since 2022, decline in sales prices due to operational deficiencies, oppose speculative financing and prioritize distributions over dilution. Further, Hartman requested the shareholders of the Company to support his nominated directors Longnecker, Thomas, and Hartman, and vote for the return of capital by contacting the Hartman Group. Ankündigung • Jun 04
Silver Star Properties REIT, Inc. Announces Removal of Al Hartman from Board of Directors Silver Star Properties REIT, Inc. announced results of the vote tally for its January 2024 consent solicitation which confirmed the removal of Al Hartman from the Company's Board of Directors. Ankündigung • May 20
Silver Star Properties REIT, Inc., Annual General Meeting, Jun 30, 2025 Silver Star Properties REIT, Inc., Annual General Meeting, Jun 30, 2025. Ankündigung • May 17
Silver Star Properties REIT, Inc. announced delayed 10-Q filing On 05/16/2025, Silver Star Properties REIT, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Ankündigung • May 14
An undisclosed buyer acquired Gulf Plaza Office Building from Silver Star Properties REIT, Inc. (OTCPK:SLVS) for $2.6 million. An undisclosed buyer acquired Gulf Plaza Office Building from Silver Star Properties REIT, Inc. (OTCPK:SLVS) for $2.6 million on May 13, 2025. A cash consideration of $2.62 million will be paid by the buyer. As part of consideration, $2.62 million is paid towards assets of Gulf Plaza Office Building.
An undisclosed buyer completed the acquisition of Gulf Plaza Office Building from Silver Star Properties REIT, Inc. (OTCPK:SLVS) for $2.6 million on May 13, 2025. Ankündigung • May 06
Allen R. Hartman Sends Letter to Shareholders of Silver Star Properties On May 1, 2025, Allen R. Hartman expressed concerns over Silver Star Properties REIT, Inc.'s management of assets and urged shareholders to demand that they resign from the board and stop selling assets until they are replaced at the shareholder meeting in about two and a half months. Ankündigung • Apr 12
Silver Star Properties REIT, Inc. Provides Update on Maryland Litigation Silver Star Properties REIT, Inc. announced an important update to ongoing litigation in Maryland. Maryland Litigation Update The Appellate Court of Maryland on April 9, 2025, issued a decisive victory for Silver Star and reversed the trial court's issuance of a preliminary injunction on the consent solicitation and amended bylaw issue. In late January 2024 at a hearing before the Circuit Court, the Judge issued his ruling from the bench, following Hartman's allegations that the amended bylaws were invalid and adopted in bad faith as Hartman sought to enjoin Silver Star from soliciting written consents from shareholders to elect new directors. The Circuit Court's decision prevented Silver Star from tallying the votes of the shareholders. As the Appellate Court's decision states, the Board was lawfully authorized to use the solicitation procedure as it did. The Appellate Court reversed the decision and remanded the case to the circuit court to dissolve the preliminary injunction. As next steps, Silver Star anticipates the Circuit Judge to issue, sua sponte, an order directing the independent inspector to complete the voting count. This is a huge victory for the Company. It once again shows Hartman's strenuous objections have not succeeded but caused unnecessary costs and delays. Ankündigung • Apr 01
Silver Star Properties REIT, Inc. announced delayed annual 10-K filing On 03/31/2025, Silver Star Properties REIT, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Ankündigung • Nov 15
Silver Star Properties REIT, Inc. announced delayed 10-Q filing On 11/14/2024, Silver Star Properties REIT, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Ankündigung • Aug 15
Silver Star Properties REIT, Inc. announced delayed 10-Q filing On 08/14/2024, Silver Star Properties REIT, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Ankündigung • May 18
Silver Star Properties REIT, Inc. Appoints Alex Board as Principal Accounting Officer and Deputy Chief Financial Officer Silver Star Properties REIT, Inc. announced that Mr. Alex Board has been unanimously appointed and approved by the Executive Committee of Silver Star to be the Principal Accounting Officer and Deputy Chief Financial Officer of Silver Star. Mr. Board's direct report will be to Gerald Haddock as Chief Executive Officer and Executive Chairman of the Board of Directors of the Company. In addition, he will continue to have direct responsibility to the Company's audit committee. Mr. Board has served as a Controller of the Company since 2021. He will continue as Controller and will also be responsible for the preparation of the financials relating to a 100% subsidiary of the Company, Southern Star Self Storage Investment Company. In conjunction with the Company's deeper examination of the current operations of Southern Star, Mr. Board has been assigned oversight of the financials of Southern Star. Furthermore, in connection with streamlining the Company's reporting, Lou Fox has been directed to focus all of his time to the matters at hand with Silver Star. Previously, Southern Star has been operated autonomously and that will generally be continued, but supplemented with oversight by Silver Star, together with Mr. Board's new oversight and direct responsibility for the financial reporting as previously stated. With new management now in place, the initial focus for Southern Star turnaround efforts includes a focused reduction in tenant delinquencies to enhance revenue and create more leasable spaces. Management will implement a programmatic approach to engagement with community influencers and organizations, including homebuilders, civic clubs, chambers of commerce, political contacts, and others to increase customer acquisition opportunities and enhance market penetration, with an emphasis on a strong ongoing community touch at each location. Facilities will be cleaned and maintained at a high level and security measures will be enhanced where necessary. All locations will promote this change with a banner announcing, "Under New Management." Mr. Wheeler has implemented a strong messaging program to all operators and has replaced two employees at the top. Ankündigung • May 16
Silver Star Properties REIT, Inc. announced delayed 10-Q filing On 05/14/2024, Silver Star Properties REIT, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. 