– Company Hires Richard Ross as CFO –
– Declares Quarterly Dividend of $0.095 Per Common Share –
AVENTURA, Fla., Aug. 29, 2013 (GLOBE NEWSWIRE) -- Trade Street Residential, Inc., (Nasdaq:TSRE) (the "Company") a fully integrated owner and operator of high-quality apartment communities located primarily in the southeastern United States, and Texas, today announced the appointment of Richard H. Ross, CPA a seasoned financial executive, as Chief Financial Officer.Michael Baumann, Chairman and Chief Executive Officer of Trade Street Residential, stated, "Richard adds significant financial acumen and experience to our executive team. We believe Richard's analytical skills, financial reporting knowledge and overall excellent business sense are key components to our ability to execute our growth strategy in the coming years. He is highly knowledgeable with regard to our organization, having advised us on numerous financial decisions in recent quarters, and his 30-plus years of financial and operational expertise in the real estate industry, including leadership roles at growing organizations, adds additional depth and vision to our executive team. We look forward to leveraging his expertise as we work to enhance our financial flexibility to position Trade Street to capitalize on attractive growth opportunities." Mr. Ross is the founder and owner of Chiron Consulting, LLC, an independent financial and operations consultancy. Prior to that, Mr. Ross served as Chief Financial Officer for 13 years at Branch Properties, LLC, a private real estate investment firm primarily focused on the development of multifamily communities and high-quality neighborhood shopping centers located in the southeastern United States. Previous to Branch Properties, LLC, Mr. Ross had a 20 year finance and accounting career with several companies, including his last position with Gearon Communications, where he served as Chief Financial Officer. Mr. Ross is a Certified Public Accountant and Certified Financial Planner. The Company concurrently announced that Bert Lopez has stepped down as Chief Financial Officer, effective August 27, 2013. Mr. Lopez will remain as the Chief Operating Officer and Chief Compliance Officer.