Brief: Whitestone REIT Completes Disposition of Non-Core Assets, Advancing the Transformation of Whitestone into a Pure-Play, Community Centered Retail REIT

Pillarstone Capital REIT

08/12/2016 21:41

Dec 8 (Reuters) - Whitestone REIT  WSR.N  
    * Whitestone REIT completes disposition of non-core assets, 
advancing the transformation of Whitestone into a pure-play, 
Community Centered Retail REIT 
    * Whitestone REIT - Transaction is structured as a 
tax-efficient exchange, allowing deferral of capital gains 
    * Whitestone REIT-To receive partnership units of 
Pillarstone Capital REIT valued at about $18.1 million and 
Pillarstone OP will assume about $65.9 million of debt 
    * Pillarstone Capital REIT acquiring 14 non-core properties 
for a total transaction value of approximately $84.0 million 
    * Whitestone REIT says transaction is expected to be net 
income per share and funds from operations per share neutral in 
2017 
 
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