Torrey Square posted the lowest base rent per-leased-square-foot in Whitestone’s wholly-owned portfolio. Since its IPO in 2010, Whitestone has improved its base rent per leased square foot by over 80%.
Bubbles are generally driven by speculation and in the case of the last housing bubble, very lax underwriting.
The Austin, TX-based hotel REIT also reports that it has closed on the sale of the 148-room Hyatt Place Fort Myers/at the Forum in Fort Myers, FL for $16.5 million or approximately $111,000 per key.
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