# EDGAR Filing Document

**Accession Number:** 0001446687
**File Stem:** 0001446687-25-000088
**Filing Date:** 2025-7
**Character Count:** 19812
**Document Hash:** 405ca7b51b99a29caf04944789455c59
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001446687-25-000088.hdr.sgml**: 20250707

**ACCESSION NUMBER**: 0001446687-25-000088

**CONFORMED SUBMISSION TYPE**: DEFA14A

**PUBLIC DOCUMENT COUNT**: 7

**FILED AS OF DATE**: 20250707

**DATE AS OF CHANGE**: 20250707

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SILVER STAR PROPERTIES REIT, INC
- **CENTRAL INDEX KEY:** 0001446687
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE [6500]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 263455189
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** DEFA14A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41786
- **FILM NUMBER:** 251108737

**BUSINESS ADDRESS:**
- **STREET 1:** 601 SAWYER ST. STE 600
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77007
- **BUSINESS PHONE:** 713-467-2222

**MAIL ADDRESS:**
- **STREET 1:** 601 SAWYER ST. STE 600
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77007

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SILVER STAR PROPERTIES REIT, INC.
- **DATE OF NAME CHANGE:** 20221221

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Hartman Short Term Income Properties XX, Inc.
- **DATE OF NAME CHANGE:** 20080930

**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:

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| | | |
|:---|:---|:---|
| ☐ | Preliminary Proxy Statement | Preliminary Proxy Statement |
| ☐ | **Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))** | **Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))** |
| ☐ | Definitive Proxy Statement | Definitive Proxy Statement |
| ☒ | Definitive Additional Materials | Definitive Additional Materials |
| ☐ | Soliciting Material under Rule 14a-12 | Soliciting Material under Rule 14a-12 |
| **Silver Star Properties REIT, Inc.** | **Silver Star Properties REIT, Inc.** | **Silver Star Properties REIT, Inc.** |
| **(Name of Registrant as Specified in Its Charter)** | **(Name of Registrant as Specified in Its Charter)** | **(Name of Registrant as Specified in Its Charter)** |
| **(Name of Person(s) Filing Proxy Statement, if other than the Registrant)** | **(Name of Person(s) Filing Proxy Statement, if other than the Registrant)** | **(Name of Person(s) Filing Proxy Statement, if other than the Registrant)** |
| Payment of Filing Fee (Check the appropriate box): | Payment of Filing Fee (Check the appropriate box): | Payment of Filing Fee (Check the appropriate box): |
| ☒ | No fee required | No fee required |
| ☐ | Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11 | 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. | 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. | 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: |

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On July 7, 2025, Silver Star Properties REIT, Inc. ("Silver Star" or the "Company") issued a formal cease and desist letter through its legal counsel to Mr. Allen R. Hartman, former CEO and director of the Company, in response to knowingly false and misleading statements regarding Silver Star's regulatory posture and relationship with the U.S. Securities and Exchange Commission (SEC). Mr. Hartman's characterization inaccurately and falsely suggests the SEC has raised concerns regarding Silver Star's conduct. Silver Star encourages shareholders to read the cease and desist letter in full, included below and attached, which outlines the basis for this demand and the Company's position.

Please see below, and attached Exhibit 99.1, for additional details.

**Exhibit Index**

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| | |
|:---|:---|
| **<u>Exhibit Number</u>** | **<u>Exhibit Description</u>** |
| <u>[99.1](sspropertiesreit-finstmt.htm)</u> | <u>[News Release - Silver Star Properties REIT, Inc. dated July 7, 2025 - Silver Star Hartman's False Narrative](sspropertiesreit-finstmt.htm)</u> |

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![imagea.jpg](imagea.jpg)

July 7, 2025

**Silver Star Issues Cease and Desist Letter in Response to Hartman's False Claims Regarding SEC Compliance**

Dear Fellow Shareholder,

Silver Star Properties REIT, Inc. ("Silver Star" or the "Company") has issued a formal cease and desist letter through its legal counsel to Mr. Allen R. Hartman, former CEO and director of the Company, in response to knowingly false and misleading statements regarding Silver Star's regulatory posture and relationship with the U.S. Securities and Exchange Commission (SEC).

In a communication filed as part of a Schedule 14A with the SEC on June 25, 2025, Mr. Hartman falsely alleged that Silver Star was in violation of securities regulations and improperly implied that the SEC supported his claims. These statements are not only false and defamatory, but also recklessly mischaracterize the Company's cooperative and transparent relationship with the SEC.

**The facts are clear:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** The SEC has **not** found Silver Star to be non-compliant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Silver Star has **actively engaged** with the SEC throughout 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Circuit Court of Baltimore City **granted relief** to allow additional time for finalizing audited financials — a process already near completion.

Mr. Hartman's characterization creates a **false narrative** that the SEC has taken issue with Silver Star's conduct. Nothing could be farther from the truth. In fact, the SEC and the Court have acknowledged and supported Silver Star's path forward – a path that Mr. Hartman repeatedly disrupted during his tenure and continues to interfere with.

Due to the seriousness of these misrepresentations, the Company's legal counsel has formally demanded that Mr. Hartman:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Immediately cease** making false and defamatory public statements about Silver Star's regulatory compliance and financial disclosures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Retract his June 25, 2025 communication** to shareholders; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• File a corrective Schedule 14A** with the SEC.

Silver Star encourages shareholders to **read the cease and desist letter in full**, which outlines the basis for this demand and the Company's position. The letter is attached – see button to download at the bottom of this communication.

The Executive Committee of Silver Star is committed to protecting the integrity of the Company's public disclosures and safeguarding the interests of all shareholders. Misleading public filings cannot and will not be tolerated.

**We urge you to support the Company's ongoing turnaround efforts and vote on the WHITE card today.**

Your Board unanimously recommends voting FOR:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The self-storage strategy that's already working

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The election of Gerald Haddock, James Still, and Jack Tompkins — proven leaders who know how to navigate complexity

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The appointment of the Independent Auditor

If you already voted using the Blue card, you can still change your vote by submitting a new WHITE proxy card — online, by phone, or by mail.

Vote now: <u>https://web.viewproxy.com/silverstarreit/2025</u>

Questions? Call Alliance Advisors at 1-844-202-6616 or email <u>SLVS@allianceadvisors.com</u>

Your vote is critical to maintaining momentum, restoring credibility, and protecting the long-term value of your investment.

Thank you for your continued support of Silver Star.

Sincerely,

The Board of Directors

Silver Star Properties REIT

**Media Contact:** 

📧 <u>press@silverstarREIT.com</u>

**Investor Relations Contact:** 

Investor Relations Coordinator

📧 <u>investorrelations@silverstarREIT.com</u> 

📞 877-734-8876

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![saulewingletterpg1a.jpg](saulewingletterpg1a.jpg)

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![saulewingletterpg2a.jpg](saulewingletterpg2a.jpg)

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**ADDITIONAL INFORMATION AND WHERE TO FIND IT**

The Company has filed with the SEC a definitive proxy statement on Schedule 14A on May 29, 2025, containing relevant documents with respect to its solicitation of proxies for the Company's 2025 Annual Meeting. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) FILED BY THE COMPANY AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT ANY SOLICITATION. In accordance with Section 14(a) of the Securities Exchange Act of 1934, as amended, and Rule 14a-6 promulgated thereunder, to the extent that any information contained in this Proxy Statement Supplement modifies, supersedes, or supplements the disclosures set forth in the Company's definitive Proxy Statement filed with the Securities and Exchange Commission on May 29, 2025, such information shall be deemed to so modify, supersede, or supplement—and shall be incorporated by reference into—that Proxy Statement as of the date hereof. Investors and security holders may obtain copies of these documents and other documents filed with the SEC by the Company free of charge through the website maintained by the SEC at <u>www.sec.gov</u>. Copies of the documents filed by the Company are also available free of charge by accessing the Company website at <u>www.silverstarreit.com</u>.

**Participants in the Solicitation**

Silver Star and its directors and executive officers may be deemed to be participants in the solicitation of proxies with respect to the 2025 Annual Meeting. Information regarding Silver Star's directors and executive officers is contained in the definitive proxy statement. As of June 20, 2025, the Silver Star Executive Committee, current directors, other than Allen Hartman, and executive officers beneficially owned approximately 3,517,313 shares, or 1.89%, of Silver Star common stock. Additional information regarding the interests of such participants is included in the definitive proxy statement and is available free of charge at the SEC's website at <u>www.sec.gov</u>.

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***Forward-Looking Statements:*** *This message contains a number of forward-looking statements. Because such statements include a number of risks, uncertainties, and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements, and investors should not place undue reliance on any such statements. Forward-looking statements can often be identified by words such as "continues," "can," expect," "intend," "will," "anticipate," "estimate," "may," "plan," "believe" and similar expressions, and variations or negatives of these words. These forward-looking statements include, but are not limited to, statements regarding the Company's search for a new auditor and its hope that a new auditor can be engaged in the near future and that its annual report on Form 10-K can be completed and publicly filed; the continuation of the examination of the current operations of Southern Star; the Company's intent to consider various alternatives, including the possible sale of Southern Star, the sale of specific assets within individual DSTs and dissolution of the respective trusts, and/or the outsourcing of various aspects of Southern Star's operations; the Company's plan to update investors with respect to the status of Southern Star as appropriate;* 

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*the Company's expectations and beliefs regarding the Hartman litigation; the timing and ultimate resolution of the various litigation, fight for corporate control and other matters involving Hartman; the continued execution of the Company's strategy of pivoting into the self-storage space; the Company's continual evaluation of its legacy assets in order to maximize shareholder value; the Company's policy to not dispose of any asset for less than its maximum determinable value and to maximize earnings and value; the implications to the Company of the assignment of an OTC trading symbol for its common stock; whether the Company may be subject to certain FINRA rules; any actions the Company may need to take to comply with any FINRA rules; the Company's continual evaluation of various options to provide greater shareholder liquidity, including its intention to seek listing of its common stock on a securities exchange or admission to over-the-counter trading, a public offering, a listing of the common stock on an exchange or admission to OTC trading without a public offering, and merger and/or acquisition opportunities; the Company's belief that further legal action could ensue to unwind the issuance of common shares under the Rights Plan if Hartman prevails in his efforts to set aside or invalidate the Rights Plan or to cause the dilutive issuance of additional common shares to Hartman, as well as any further action Hartman may take to prevent other Company shareholders from receiving benefits under the Rights Plan. None of the foregoing are guarantees or assurances of future outcomes or results and all are subject to numerous risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statement. A number of important factors could cause actual results to differ materially from the forward-looking statements contained in this material. Forward-looking statements in this press release speak only as of the date on which such statements were made, and the Company undertakes no obligation to update any such statements that may become untrue because of subsequent events. Such forward-looking statements are subject to the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.*

## Exhibit 99.1

![](sspropertiesreit-finstmt001.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eric G. Orlinsky Phone: (410) 332-8687 eric.orlinsky@saul.com www.saul.com Harbor Eas t 1001 F lee t S t ree t , 9 th F loor Ba l t imore , MD 21202-4359 Phone : (410) 332-8600 Fax: (410) 332 -8862 C A L I F O R N I A D E L A W A R E F L O R I D A I L L I N O I S M A R Y L A N D M A S S A C H U S E T T S M I N N E S O T A N E W J E R S E Y N E W Y O R K P E N N S Y L V A N I A W A S H I N G T O N , D C A DELAWARE LIMITED LIABILITY PARTNERSHIP 55805126.5 July 3, 2025 BY MAIL A D EMAIL Adam W. Finerman Baker & Hostetler LLP 45 Rockefeller Plaza New York, NY 10111 afinerman@bakerlaw.com Re: Cease and Desist Allen R. Hartman Public Statements Dear Mr. Finerman: This letter concerns public statements and SEC filings made by or on behalf of your client, Allen R. Hartman, regarding Silver Star Properties REIT, Inc. (the "Company" or "Silver Star") and the members of its board of directors. While your client has made numerous Schedule 14/A filings with the SEC in the last week, we draw your attention specifically to the Schedule 14/A filed by Mr. Hartman on June 25, 2025. In this filing, Mr. Hartman attaches copies of his communication to Silver Star shareholders titled "SEC FI ALLY CAUGHT SILVER STAR." In this communication, Mr. Hartman further states that Silver Star is engaging in "Unbridled Disregard For the Law and Regulatory Constraints" by "not includ[ing] audited financial statements with its proxy solicitation, a violation of securities rules and regulations." These statements are materially and intentionally misleading, and Mr. Hartman and his representatives know so. First, Mr. Hartman is well aware that Silver Star and its independent outside auditors have been hard at work trying to complete its audited financial statements for the years ended 2023 and 2024 for the better part of 2025. As Mr. Hartman is also aware, Silver Star has been engaged in open and transparent communication with the SEC requesting an accommodation regarding the financial statement issue and, on a parallel track, requesting urgent relief from the Circuit Court of Baltimore City to extend the deadline for the upcoming annual meeting so that the Company could have more time to complete its audited financials precisely so that it could be in legal compliance with the SEC regulations. Indeed, this relief was granted on June 24, 2025, one day prior to Mr. Hartman's misleading June 25, 2025 shareholder communication. The Company has every intention of complying with SEC regulations, completing its audited financials and amending its proxy materials to include them as soon as they are available. Moreover, all of this coming from Mr. Hartman is rich. Indeed, it is Mr. Hartman himself who bears the primary responsibility for Silver Star being unable to obtain audited financials for these years as

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![](sspropertiesreit-finstmt002.jpg)

Adam W. Finerman BakerHostetler July 3, 2025 Page 2 55805126.5 a result of his own misconduct and mismanagement during his time as the Chief Executive Officer of the Company and as a director, as has been well established and determined by the board and as detailed by the Circuit Court of Baltimore City in its memorandum opinions dated January 21, 2025, and May 20, 2025, in the Allen R. Hartman, et.al. v. Silver Star Properties REIT, Inc., et al. litigation. Mr. Hartman is like the arsonist at a town hall who argues that the town needs a fire department to put out all the fires he keeps setting. Mr. Hartman continues to attempt to paint himself as the victim of circumstances of his own creation, and his materially and intentionally misleading statements are detrimental to the Company and his fellow Silver Star shareholders. The Company hereby demands that Mr. Hartman publicly retract his June 25, 2025 shareholder communication and file another Schedule 14/A to correct the misstatements. Furthermore, the Company hereby demands that Mr. Hartman cease and desist from making any further allegations that Silver Star has "lied" to the SEC or otherwise seeks to mislead the SEC or its other shareholders about Silver Star's financial statements. Very truly yours, Eric G. Orlinsky cc: Gerald Haddock Chester Grud inski Emily Kelsay Strine, Saul Ewing LLP Geoffrey M. Gamble, Saul Ewing LLP Jerrold Thrope, Gordon Feinblatt LLC Andrew Bulgin, Gordon Feinblatt LLC

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