AVENTURA, Fla., April 28, 2014 (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, announced today that its Board of Directors has appointed Richard H. Ross to the permanent position of chief executive officer, effective immediately. Since February 2014, Mr. Ross has served as interim chief executive officer and chief financial officer. Mr. Ross will continue to serve as chief financial officer in an interim role. The Company's Board of Directors will lead the search for a permanent chief financial officer, which is expected to begin promptly.
Mack Pridgen, Chairman of the Company's Board of Directors, commented on the management transition, "We are pleased to announce the appointment of Richard to the permanent role of chief executive officer. Richard has contributed to the Company meaningfully in his multiple leadership roles, and his extensive real estate experience and proven operating capabilities are key components to continuing the execution of our growth strategy. Furthermore, we believe Richard's experience, commitment and strategic vision position him well in the improvement of our operations and the enhancement of shareholder value."
Mr Ross joined the Company as its chief financial officer in August, 2013 after acting as an advisor for the Company during the formation transactions and through the initial public offering in May 2013. Previously Mr. Ross was the founder and owner of Chiron Consulting, LLC, an independent financial and operations consulting firm and he served as chief financial officer for 13 years at Branch Properties, LLC, a private real estate investment firm primarily focused on the operation and 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 in Florida and Georgia.