Whitestone REIT Extends, Expands Its $750 Mln Credit Facility

(RTTNews) - Whitestone REIT (WSR), Monday announced the expansion and extension of its $750 million credit facility through its operating partnership, Whitestone REIT Operating Partnership, L.P.

The credit facility consists of a $375 million term loan, set to mature in January 2031, as well as $375 million revolver, which is set to mature in September 2029 with two six-month options to extend the maturity date.

Additionally, the company has entered into interest rate swaps to fix the interest rates on the $375 million term loan, locking in a rate between 3.36 percent and 3.42 percent, plus 1.35 percent, until maturity.

The changes are expected to primarily strengthen the company's ability to hit their 5 - 7 percent Core FFO per share growth target, extend its weighted average maturity date out to 2030, and reduce its current variable debt to approximately 12 percent.

Currently, WSR is trading at $12.77, up 0.47 percent on the New York Stock Exchange.