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Stock impact report

Uptown Tower's Comeback: Bradford Plans $20M Modernization Makeover [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
Bradford, through its affiliate Bradford UPT Partners LLC, closed on the purchase of the 12-story high-rise on July 17. The firm now has the immense task of giving the dated property new life through a major renovation. The 254,000-square-foot tower was erected in Uptown, off U.S. 75, near the Knox-Henderson neighborhood, in 1982. The last time it saw major renovations was over three decades ago. When The Dallas Express covered the tower in October 2023, the high-rise was 80% leased, but it was still facing financial hardship. Less than two years later, Uptown Tower is just 50% leased. In December 2023, the previous owners, Pillarstone Capital REIT and Whitestone REIT, filed for bankruptcy due to challenges in meeting the debt obligations on the property. General partner Pillarstone, alongside limited partner Whitestone, had purchased the building in 2013. The building's rough shape and high vacancy rate made Uptown Tower a tough sell. “The odds were definitely against us o Show less Read more
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