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Stock Market & Financial Investment News

News Breaks
July 1, 2014
18:08 EDTWSRWhitestone REIT acquires Heritage Trace Plaza for $20.1M
Whitestone REIT announced the acquisition of Whitestone's first Fort Worth, Texas area property, Heritage Trace Plaza, a 98% leased, family-focused property containing 70,431 square feet of leasable area anchored by Texas Health Resources. Whitestone funded the Heritage Trace Plaza acquisition from its corporate credit facility, which is priced at 1.75% to 2.50% over LIBOR. Current annual net operating income for the property is approximately $1.5M, or 7.5% of the purchase price. Based on Whitestone's current shares outstanding, this acquisition is expected to contribute 4c and 2c to FFO per share, after interest cost, for 2015 and 2014, respectively.
News For WSR From The Last 14 Days
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June 23, 2015
09:07 EDTWSRWhitestone REIT 3.75M share Spot Secondary priced at $13.75
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June 22, 2015
19:00 EDTWSROn The Fly: After Hours Movers
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16:08 EDTWSRWhitestone REIT files to sell 3.75M shares of common stock
The operating partnership intends to use the net proceeds from the offering to repay a portion of outstanding indebtedness under Whitestone's unsecured revolving credit facility and for general corporate purposes, which may include acquisitions of additional properties, capital expenditures, the expansion, redevelopment and/or re-tenanting of properties in Whitestone's portfolio, working capital and other general purposes. JMP Securities LLC is acting as sole book-running manager of the offering.

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