Whitestone privately places $100 million 10-year notes; San Jose Water places $80 million

By Devika Patel

Knoxville, Tenn., March 28 – The private placement market rose from a slumber on Thursday, with two deals announced.

Whitestone REIT Operating Partnership LP, a Houston-based real estate company, reported that it completed a $100 million two-part private placement of senior notes on March 22.

There was $50 million of series A 10-year 5.09% bonds and $50 million of series B 10-year 5.17% bonds sold in the placement.

Prudential Insurance Co. of America was among the investors.

San Jose Water Co. sold $80 million of 4.29% series M senior notes due April 1, 2049 to affiliates of MetLife, Inc., Brighthouse Financial, Inc. and New York Life Insurance Co., according to an 8-K filing with the Securities and Exchange Commission.

The notes were issued on Thursday under a note purchase agreement.

San Jose Water is a subsidiary of SJW Group, an investor-owned public utility based in San Jose, Calif.

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