Whitestone REIT Receives $33.4 Million Payment From Pillarstone Settlement Agreement

Core Insights - Whitestone REIT received $33.4 million from Pillarstone Capital REIT Operating Partnership following a bankruptcy court-approved settlement agreement [1] - The settlement directs the Partnership to distribute remaining funds after specific payments, enhancing Whitestone's financial position [2] - Whitestone expects to receive an additional $4.0 million in cash and excess reserves in 2026, alongside a prior payment of $13.6 million [3] - The company aims for consistent long-term growth of 5-7% annual Core FFO per share, with the recent settlement strengthening its balance sheet [4] - Whitestone has acquired two properties and disposed of one, indicating a strategic focus on growth and value creation [5] Company Overview - Whitestone REIT is a community-centered real estate investment trust that operates open-air retail centers in rapidly growing markets [6] - The company's centers focus on convenience and feature a mix of service-oriented tenants, which are crucial for its success [7]