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Whitestone REIT moves into Austin market

Jun. 02, 2015 12:16 PM ETWhitestone REIT (WSR) StockBy: Stephen Alpher, SA News Editor1 Comment
  • Davenport Village is Whitestone's (NYSE:WSR +0.4%) 40th community centered shopping center in Texas, its 65th overall, and first in the Austin area.
  • The property has 129K square feet of leasable space and 34 tenants. It's currently 87% leased with considerable lease-up and value-add potential, says the company.
  • Terms of the deal weren't disclosed, but it was funded from the company's $500M credit line. Whitestone expects the purchase will be immediately accretive to earnings and cash flow.
  • Source: Press Release

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