Whitestone REIT Expands and Extends $750 Million Credit Facility, Securing Lower Interest Rates and Additional Borrowing Capacity
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Whitestone REIT has expanded its credit facility to $750 million, comprising a $375 million revolver and a $375 million term loan. The new terms include lower interest rates, with the revolver at SOFR plus 1.40% and the term loan at SOFR plus 1.35%. The facility matures in 2029 and 2031, respectively, and strengthens Whitestone's financial position by reducing variable debt to approximately 12% and increasing borrowing capacity. The arrangement was made with leading financial institutions such as BMO Capital Markets and BofA Securities.
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