Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Baird served as the lead book-running manager in this offering.
Whitestone REIT (NYSE: WSR) (“Whitestone” or the “Company”) recently completed a follow-on offering of 4,830,000 shares of its common stock at a price of $12.80 per share, generating gross proceeds of approximately $61.8 million. The Company intends to use the net proceeds from this offering for general corporate purposes, which may include the acquisition of additional properties, the repayment of outstanding indebtedness, capital expenditures, the expansion, redevelopment and/or re-tenanting of properties in the Company’s portfolio, working capital and other general purposes.
Whitestone REIT is a fully integrated real estate investment trust that owns, operates and redevelops Community Centered Properties™ (the “Centers"), which are visibly located properties in established or developing culturally diverse neighborhoods. Whitestone markets, leases and manages its Centers to match tenants, typically local, service-oriented smaller space tenants (less than 3,000 square feet), with the shared needs of surrounding neighborhoods. Whitestone has a diversified tenant base concentrated on service offerings in the medical, education, casual dining, and convenience services industries. Headquartered in Houston, Texas and founded in 1998, the Company is internally managed with a portfolio of commercial properties in Texas, Arizona and Illinois.