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BRIEF-Whitestone REIT Completes Disposition of Non-Core Assets, Advancing the Transformation of Whitestone into a Pure-Play, Community Centered Retail REIT
December 8, 2016 / 10:01 PM / a year ago

BRIEF-Whitestone REIT Completes Disposition of Non-Core Assets, Advancing the Transformation of Whitestone into a Pure-Play, Community Centered Retail REIT

Dec 8 (Reuters) - Whitestone REIT

* Whitestone REIT completes disposition of non-core assets, advancing the transformation of Whitestone into a pure-play, Community Centered Retail REIT

* Whitestone REIT - Transaction is structured as a tax-efficient exchange, allowing deferral of capital gains

* Whitestone REIT-To receive partnership units of Pillarstone Capital REIT valued at about $18.1 million and Pillarstone OP will assume about $65.9 million of debt

* Pillarstone Capital REIT acquiring 14 non-core properties for a total transaction value of approximately $84.0 million

* Whitestone REIT says transaction is expected to be net income per share and funds from operations per share neutral in 2017 Source text for Eikon: Further company coverage:

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