Whitestone REIT, which owns and operates properties in established or developing diverse neighborhoods, announced terms for its IPO on Monday. The Houston, TX-based company plans to raise $50 million by offering 3.3 million Class B shares at a price range of $14-$16. At the mid-point of the proposed range, Whitestone will command a market value of $130 million. Whitestone REIT, which was founded in 1998 and booked $32 million in sales for the 12 months ended June 30th, 2009, plans to list on the NYSE under the symbol WSR. Wunderlich Securities and Ladenburg Thalmann & Co. are the lead underwriters on the deal.
