CLEAR LAKE - Whitestone REIT has sold three non-core office buildings for $10.3 million, or a 7.7 percent cap rate on trailing 12-month net operating income (NOI).
The portfolio consists of
The two-story properties were sold because they did not fit Whitestone’s Community Center Properties business model. Whitestone expects to re-invest the proceeds of the sale into the purchase of assets that fit its core strategy.
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