Whitestone REIT (NYSE-AMEX: WSR – “Whitestone”), a fully integrated real estate company that owns, operates and re-develops Community Centered Properties TM, which are visibly located in established or developing culturally diverse neighborhoods, announced that it has appointed Richard D. Rollnick as Director of Real Estate Development. “Having been directly responsible for developing, financing, marketing and managing over 14 million square feet of commercial properties located throughout the United States during his 25-year real estate industry career, Mr. Rollnick brings a vast amount of real estate development and value-add experience to Whitestone. In his new role, he will oversee new development and value-add opportunities to create new leasable space within our current portfolio of 44 Community Centered Properties, as well as for future acquisitions with a development component,” said James C. Mastandrea, Whitestone’s Chairman and Chief Executive Officer. “His initial focus will be on the exceptional value-add development opportunities within our current portfolio, such as the adjacent acreage we purchased in our two most recent acquisitions at Starwood in Dallas and Pinnacle in Scottsdale, as well as pad site development in several other Community Centers.” Prior to joining Whitestone, Mr. Rollnick had been founding principal of Allegiant Properties, LLC, a real estate asset management company, and Crown West Realty, a private real estate investment, development and management company. He has also served in executive leadership positions with several prominent national and regional commercial real estate development, investment banking and advisory firms for properties located in Arizona, Colorado, California, Washington, and North Carolina. Richard Rollnick holds a Bachelor of Science degree from Woodbury University, a Masters of Business Administration from Pepperdine University Graduate School of Business, and is a graduate of the Harvard University Graduate School of Design, Running a Real Estate Company Program. Mr. Rollnick is a licensed real estate broker in California and Arizona and holds the CCIM designation.
About Whitestone REITWhitestone REIT is a fully integrated real estate company that owns, operates and re-develops Community Centered Properties TM, which are visibly located properties in established or developing culturally diverse neighborhoods. Whitestone focuses on value-creation in its Centers, as it markets, leases and manages its Centers to match tenants with the shared needs of surrounding neighborhoods. Operations are structured for providing cost-effective service to local service-oriented smaller space tenants (less than 3,000 square feet). Whitestone has a diversified tenant base concentrated on service offerings such as medical, education, and casual dining. The largest of its over 900 tenants comprises less than 2% of its rental revenues. Headquartered in Houston, Texas and founded in 1998, the Company is internally managed with a portfolio of commercial centers in Texas, Arizona, and Illinois. For additional information about the Company, please visit www.whitestonereit.com. The investor section of the Company's website has links to SEC filings, news releases, financial reports and investor newsletters. Forward-Looking Statements Statements included herein that state the Company's or management's intentions, hopes, beliefs, expectations or predictions of the future are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, which by their nature, involve known and unknown risks and uncertainties. The Company's actual results, performance or achievements could differ materially from those expressed or implied by these statements. Reference is made to the Company's regulatory filings with the Securities and Exchange Commission for information or factors that may impact the Company's performance.