Whitestone REIT provides update on disposition activities

Whitestone REIT has completed approximately $36M in property dispositions since 3Q22. The dispositions are part of the company’s ongoing asset management strategy and resulted in net proceeds received of approximately $34M after prorations and transaction costs. The combined sales were completed at a capitalization rate of 5.6%, based on the 2022 annualized nine-month property net operating income of approximately $2.0M divided by sales price. Occupancy for the combined group stood at 90.3% while average base rent was $14.51.