Whitestone REIT enters $56.3M mortgage loan at 6.23% fixed rate, maturing 2031

Whitestone REIT

$56.34M non-recourse loan from Nationwide Life Insurance; 6.23% fixed interest, maturity July 1, 2031.
Interest-only for first 36 months, then 30-year amortization; payments commence August 1, 2024.
Loan secured by three properties (The Strand, Las Colinas Village, Scottsdale Seville) and related assets.
Limited carveout guarantee from Whitestone REIT Operating Partnership; proceeds pay down floating-rate debt.
Prepayment allowed in full only; no premium required on or after six months before maturity.

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