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Stock impact report

Whitestone REIT Expands and Extends $750 Million Credit Facility [Yahoo! Finance]

Whitestone REIT Common Shares (WSR) 
Last whitestone reit common shares earnings: 2/26 04:15 pm Check Earnings Report
US:NYSE Investor Relations: whitestonereit.com
Company Research Source: Yahoo! Finance
announced that through its operating partnership, Whitestone REIT Operating Partnership, L.P. (the “Operating Partnership”), it has amended, expanded and extended its $750 million credit facility, comprised of a $375 million revolver and $375 million term loan. The revolver is scheduled to mature in September 2029 with two six-month options to extend the maturity date and the term loan is scheduled to mature in January 2031. The revolver has an initial interest rate of SOFR plus 1.40% and the term loan has an initial interest rate of SOFR plus 1.35%. In addition, the Company entered into interest rate swaps to fix the interest rates on the $375 million term loan, locking in a rate between 3.36% and 3.42% (plus 1.35%) until maturity. The renewal of the credit facility accomplishes several key objectives: Locks down a key earnings variable, strengthening Whitestone's ability to hit their 5 – 7% Core FFO per share growth target in 2026, 2027 and 2028 Extends Whitestone's weighted Show less Read more
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