Baird served as the lead book-running manager on this offering.
AboutWhitestone REIT (“Whitestone” or the “Company”) (NYSE: WSR) recently completed a follow-on offering of 4,600,000 shares of common stock at a price of $13.54 per share, generating gross proceeds of approximately $62.3 million. The Company intends to use the net proceeds from the offering for general corporate purposes, which may include acquisitions of additional properties, the repayment of outstanding indebtedness, capital expenditures (including tenant improvements), the expansion, redevelopment and/or re-tenanting of properties in the Company’s portfolio, working capital and other general purposes.
Whitestone 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). Whitestone has a diversified tenant base concentrated on service offerings including medical, education, casual dining, and convenience services. The Company is internally managed with a portfolio of commercial properties in Texas, Arizona, and Illinois. Founded in 1998, Whitestone is headquartered in Houston, Texas.
For additional information about this transaction, please contact:
- October 2013
- Whitestone REIT
- Real Estate
- Target Location
- North America