Whitestone REIT has announced an amendment, expansion, and extension of its $750 million credit facility, including a $375 million revolver and $375 million term loan. The company locked in initial interest rates for the revolver and term loan, and entered into interest rate swaps to fix the rates on the term loan until maturity. This renewal accomplishes key objectives, including strengthening earnings potential, extending maturity dates, reducing variable debt, providing additional borrowing capacity, and expanding the bank group. The CEO, Dave Holeman, expressed satisfaction with the new facility, citing lower interest rates and extended maturities as positive changes. The co-lead arrangers and joint-book runners for the facility were named as well. Whitestone REIT is a community-centered REIT that owns and operates open-air retail centers in fast-growing markets like Phoenix, Austin, and Dallas-Fort Worth. The company focuses on convenience and strong community connections with its tenants. Forward-looking statements and non-GAAP financial measures were also provided in the announcement.

Read more at GlobeNewswire: Whitestone REIT Expands and Extends $750 Million Credit