Whitestone REIT has paid $25.3 million, or $364.01/sf, for Arcadia Towne Center, a 69,503-square-foot retail center in Phoenix. The Houston REIT bought the property from Morgan Stanley Capital I Trust, 2007-IQ14, the CMBS trust that securitizes the property’s $27.13 million of debt. The loan is part of a $108.52 million debt package that’s been in […]

The post Whitestone REIT Pays $25.3Mln for Phoenix Retail Center appeared first on Commercial Real Estate Direct.