Whitestone REIT will use property dispositions for debt paydowns

By Mary-Katherine Stinson

Lexington, Ky., Dec. 6 – Whitestone REIT completed the sale of six properties totaling approximately $36 million in combined sales since the third quarter, according to a press release.

Whitestone said it anticipates using the approximately $34 million in net proceeds generated by the sales for debt reduction and future accretive acquisitions with greater upside than the properties which were sold.

Houston-based Whitestone is a real estate investment trust that owns, manages, operates, leases and repositions and redevelops community-centered properties.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.