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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.
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