$45M: Whitestone REIT secures Austin Retail Centers

Parkside Villages has been purchased by Whitestone REIT.

In Austin, Whitestone REIT of Houston has purchased Parkside Village North and Parkside Village South in Austin for $45 million.

The two centers, near the entrance of the Circle C Ranch community off the Mopac Expressway, are 100 percent leased and contain a total of 117,146 sq ft.

“With this purchase closed, we have now invested $135 million in the Austin and San Antonio markets combined,” said James C. Mastandrea, Chairman and Chief ExecutiveOfficer of Whitestone. “Looking ahead, we expect to continue making acquisitions in both of these dynamic cities as our business gains traction, providing Whitestone with a leading position in each market.”