Whitestone REIT

Whitestone REIT Reports 3% Increase in Occupancy Q1 2012 Versus Q1 2011

admin — Tue, 24 Apr 2012 17:32:34 +0000

Houston, Texas, April 24, 2012 –Whitestone REIT (NYSE-Amex: WSR – “Whitestone”), a real estate investment trust that acquires, owns and operates Community Centered PropertiesTM, today reported occupancy and leasing highlights for the first quarter, ended March 31, 2012. The physical occupancy of its Operating Portfolio1was 87% as of March 31, 2012, a 3% percent increase over the year-ago first quarter ended March 31, 2011 and was unchanged since the prior quarter ended December 31, 2011. The Company’s total occupancy, including the newly purchased value add properties in Phoenix, was 85% as of the end of the current quarter, a 1% increase from December 31, 2011.

Whitestone’s leasing team signed 90 leases totaling 159,167 square feet (“sf”) in new and renewal leases during the first quarter, and currently has over 941 total tenants, of which 72% lease space that is less than 3,000 sf, provide services as opposed to goods, and are located in multi-cultural neighborhoods.

“We continue to build from our small tenant base platform and business model and are gaining a foothold, as current tenants expand into adjacent spaces and look to expand their business at other Whitestone locations. We have expanded our tenant roster over the last twelve months by adding 153 new tenants,” said James C. Mastandrea, Whitestone’s Chairman and Chief Executive Officer. “Our new Director of Real Estate Development, Richard Rollnick, who joined Whitestone last month, is focused on initiating value-add transformation and redevelopment of numerous residual land and out parcel projects within our current portfolio. Additionally, he will lead the Phase II ground-up development and construction to add new lease space on our two expansion parcels that we purchased in late December 2011. These projects are expected to begin mid to late 2013 and include a 4.45 acre Phase II parcel for Pinnacle of Scottsdale in North Scottsdale and a 2.73 acre parcel adjacent to The Shops at Starwood in Frisco, Texas.”

Leasing Highlights

Arizona Region:
Gilbert Tuscany – Gilbert: Five new leases were signed within this family-themed Community Center in the growing Phoenix East Valley market area. Hen House, Inc. signed a lease for a new 2,935 sf restaurant, Karve Studios signed a lease for a new 2,432 sf exercise studio, A World of Heaven signed a lease for a new 1,481 sf bookstore, an operator for a new Nail Salon signed a 1,481 sf lease, and a lease was also signed for a new 1,012 sf massage studio.

Desert Canyon – Scottsdale: Five new, expansion, and renewal small tenant leases totaling 3,710 sf were signed in this Community Center targeting the surrounding young family demographic. This includes a 1,563 sf expansion by Classic Cooking Academy, a chef-preparatory school, for an adjacent café restaurant now open to the public.

Terravita – Scottsdale: Sherwin Williams signed a new lease for 3,868 sf; Animal Hospital at Terravita signed a 1,486 sf renewal lease in this seniors-at-home focused Community Center.

Texas/Illinois Region:
I-10 Office Warehouse – Houston: 24,730 sf of new and expansion leases were signed in this energy corridor office/flex Community Center, including a 15,705 sf expansion lease for Peterson-Morris Wholesale Distributing, one of the largest flooring distributors in Houston, and a new 4,000 sf lease for Houston Custom Metal Work.

Corporate Park Northwest – Houston: In this small business incubator themed Community Center business park, 22 new, expansion, and renewal leases were signed totaling 30,000 sf. Tenants include Marlene Avila, a certified refloxologist, and Spartan Global Services Group.

Featherwood – Houston: Over 16,000 sf of new, expansion, and renewal leases were signed in this office Center, including a 40% expansion by Sage Environmental, an environmental consulting firm for the oil and gas industry.

About Whitestone REIT
Whitestone REIT is a fully integrated real estate company that owns, operates and re-develops Community Centered PropertiesTM, 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.

1 Operating Portfolio - excludes new acquisitions through the earlier of (1) attainment of 90% occupancy or 18 months of ownership and (2) properties which are undergoing significant redevelopment or re-tenanting.

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.

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WHITESTONE REIT UPDATES TIMING OF FIRST QUARTER EARNINGS RELEASE AND CONFERENCE CALL TO MAY 9, 2012

admin — Wed, 18 Apr 2012 14:18:36 +0000

Houston, Texas, April 18, 2012 – Whitestone REIT (NYSE-AMEX: WSR – “Whitestone”), a fully integrated real estate company that owns, operates and re-develops Community Centered PropertiesTM, which are visibly located properties in established or developing culturally diverse neighborhoods, today announced that it has rescheduled its first quarter 2012 webcast and conference call by one day due to a scheduling conflict. The Company will release financial results for the first quarter ended March 31, 2012 after the market closes, May 9, 2012.

The Company will host a webcast and conference call for investors and other interested parties on Wednesday, May 9, 2012 at 5:00 p.m. (Eastern Time). The call will be hosted by James Mastandrea, Chairman and Chief Executive Officer, and David Holeman, Chief Financial Officer.

Listen via Webcast
Interested parties can listen to the call live on the internet through the Investor Relations section of the Company’s website, www.whitestonereit.com, using the News/Events – Press Releases tab. The call is also accessible via telephone by dialing 1-(800) 575-5790 for domestic participants or 1-(719) 325-2122 for international participants. Listeners should go to the website at least 15 minutes prior to the call to download and install any necessary audio software. Those dialing in should call in at least five to ten minutes prior to the start.

The conference call will be recorded and a telephone replay will be available through May 23, 2012, by dialing 1-(877) 870-5176 for domestic participants or 1-(858) 384-5517 for international participants and entering the passcode 4632897. Additionally, a replay of the call will be available on the Company’s website until its next earnings release.

The earnings release and supplemental data package will be located in the Investor Relations section of the website on the News/Events - Press Releases tab. For those without internet access, the first quarter 2012 earnings release and supplemental data package will be available by mail upon request. To receive a copy, please call the Company’s Investor Relations line at (713) 435-2221.

About Whitestone REIT
Whitestone REIT is a fully integrated real estate company that owns, operates and re-develops Community Centered PropertiesTM, 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.

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Whitestone REIT Appoints Director Of Real Estate Development, Richard D. Rollnick

admin — Tue, 13 Mar 2012 16:03:37 +0000

Houston, Texas, March 13, 2012 – Whitestone REIT (NYSE-AMEX: WSR – “Whitestone”), a fully integrated real estate company that owns, operates and re-develops Community Centered PropertiesTM, 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 REIT
Whitestone REIT is a fully integrated real estate company that owns, operates and re-develops Community Centered PropertiesTM, 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.

Whitestone REIT Enters into New $125 Million Unsecured Revolving Credit Facility

admin — Mon, 27 Feb 2012 22:49:41 +0000

Funds to be Used Primarily for Acquisitions and Redevelopment

Houston, Texas, February 27, 2012 – 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 properties in established or developing culturally diverse neighborhoods, announced today it has closed on a new three-year $125 million unsecured revolving credit facility. The new credit facility will replace the existing $20 million facility with Bank of Montreal. The Company plans to use the new facility primarily for acquisitions, redevelopment of existing properties in its portfolio, and general corporate purposes.

The transaction was led by BMO Capital Markets as the Sole Lead Arranger and Sole Book Runner. Bank of Montreal is serving as the Administrative Agent. U.S. Bank National Association served as Syndication Agent, while Capital One, National Association, and Wells Fargo Bank, National Association served as Co-Documentation Agents. Also included in the lender group is MidFirst Bank.

“Our new $125 million unsecured revolving credit facility will provide Whitestone REIT with increased financial flexibility to execute and close on new acquisitions,” said James C. Mastandrea, Whitestone’s Chairman and Chief Executive Officer. “We are very pleased with BMO’s leadership role and the impressive group of banks, including U.S. Bank, Wells Fargo, Capital One, and MidFirst Bank in our new and expanded credit facility. We believe the strength of our bank group and the size of our credit facility enhances Whitestone’s Community Centered Property strategy, and provides the financial flexibility necessary to execute contracts and close quickly on value-add acquisition opportunities. As we continue to grow our real estate portfolio and focus on increasing revenue, NOI, FFO and FFO/share, we expect shareholder value to be enhanced with the pricing and timely management of our new three-year credit facility.”

About Whitestone REIT

Whitestone REIT (NYSE-AMEX: WSR) 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. Headquartered in Houston, Texas and founded in 1998, the Company is internally managed with a portfolio of commercial properties in Texas, Arizona, and Illinois. 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 including medical, education, and casual dining. The largest of its approximately 900 tenants comprises less than 2% of its rental revenues. For additional information about the Company, please visit www.whitestonereit.com. The Investor Relations section of the Company's website has links to SEC filings, news releases, financial reports and investor newsletters.

Whitestone REIT Acquisitions: Interested parties should contact Bradford Johnson, Whitestone REIT Director of Acquisitions, via email: bjohnson@whitestonereit.com or phone 713.435.2208.

Forward-Looking Statements

Statements included herein that state Whitestone’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. You should not rely on forward-looking statements because the matters they describe are subject to known and unknown risks and uncertainties that may cause Whitestone’s actual results, performance or achievements to differ materially from those expressed or implied by these statements. Reference is made to Whitestone’s regulatory filings with the Securities and Exchange Commission for information or factors that may impact Whitestone’s performance.

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Whitestone REIT Announces Second Quarter 2012 Dividend And Date of Annual Shareholder Meeting

admin — Fri, 24 Feb 2012 16:20:38 +0000

Houston, Texas, February 24, 2012 –The Board of Trustees of 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 properties in established or developing culturally diverse neighborhoods, announced today that it authorized its quarterly cash dividend of $0.285 per Class A and Class B common share and Operating Partnership (“OP”) unit. The dividend is unchanged from the previous seven quarters.

Whitestone declares quarterly distributions to holders of its common shares and OP units, which are payable monthly in three installments of $0.095 per Class A and Class B common share and OP unit. The record and payment dates for the second quarter 2012 period are shown in the following table:

Month	Record Date	Payment Date
April	4/2/12	4/9/12
May	5/1/12	5/9/12
June	6/1/12	6/8/12

Annual Meeting of Shareholders Scheduled for May 22^nd

Additionally, Whitestone announced that its Annual Meeting of Shareholders will be held on Tuesday, May 22, 2012. The Board of Trustees established the close of business on March 23, 2012 as the record date for determining stockholders entitled to receive notice of and vote at the meeting. The meeting will begin at 10:00 a.m. Central Time and will take place at the Norris Conference Center, 803 Town & Country Lane, Houston, Texas.

About Whitestone REIT

Whitestone 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 properties 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.

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Whitestone REIT Adds Leasing Strength to its Growing Value-Add Portfolio of 43 Community Centered Properties

admin — Mon, 30 Jan 2012 15:43:29 +0000

New Regional Leasing Directors Add Senior-Level Portfolio Repositioning, Transformation Expertise

Houston, Texas, January 30, 2012 – Whitestone REIT (NYSE-AMEX: WSR – “Whitestone”), a fully integrated real estate company that owns, operates and re-develops Community Centered PropertiesTM, which are visibly located in established or developing culturally diverse neighborhoods, announced that it has enhanced its southwest and central regional leasing teams by adding Todd King as Director of Leasing – Texas/Illinois Central Division and Daniel Kovacevic as Director of Leasing – Arizona Southwest Division. Mr. King and Mr. Kovacevic, both licensed Real Estate Brokers, together bring nearly sixty years of combined experience in commercial real estate leasing, management, development and investment.

“We are building bench strength throughout our enterprise as we focus on our goals of increasing occupancy, identifying value-add opportunities within our portfolio and creating value for our shareholders,” said James C. Mastandrea, Whitestone’s Chairman and Chief Executive Officer. “We welcome Todd King and Daniel Kovacevic to lead our leasing teams with their considerable senior-level experience in the repositioning, transformation, and lease-up of commercial properties.”

Mr. King is past President and Board member of the Houston Chapter of NAIOP and previously served as Executive Vice President at Vantex CPG/Vantage Companies, Senior Director of Real Estate Development at Opus West Corporation, and Leasing Director of Equity Office Properties. A graduate of the University of Texas, Austin, Mr. King earned his MBA from the University of St. Thomas in Houston, Texas.

Mr. Kovacevic, who is a CPA, was a Partner with Mitroff Group, Ltd. for 25 years where he specialized in developing, leasing, managing and repositioning niche mixed-use and commercial developments. Prior to this, he was a Partnership Accountant at JMB Realty and past President of the Home Builders Association of Greater Chicago. A Civil Engineering graduate from Northwestern University, Mr. Kovacevic earned his MBA from Kellogg School of Management at Northwestern University.

About Whitestone REIT
Whitestone REIT is a fully integrated real estate company that owns, operates and re-develops Community Centered PropertiesTM, 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.

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Whitestone REIT Announces Fourth Quarter 2011 Earnings Release and Conference Call

admin — Wed, 25 Jan 2012 21:09:16 +0000

Houston, Texas, January 25, 2011 – Whitestone REIT (NYSE-AMEX: WSR – “Whitestone”), a fully integrated real estate company that owns, operates and re-develops Community Centered PropertiesTM, which are visibly located properties in established or developing culturally diverse neighborhoods, announced today that the Company will release financial results for the fourth quarter ended December 31, 2011 after the market closes Tuesday, February 28, 2012.

The Company will host a webcast and conference call for investors and other interested parties on Tuesday, February 28, 2012 at 5:00 p.m. (Eastern Time). The call will be hosted by James Mastandrea, President and Chief Executive Officer, and David Holeman, Chief Financial Officer.

Listen via Webcast
Interested parties can listen to the call live on the internet through the Investor Relations section of the Company’s website, www.whitestonereit.com, using the News/Events – Press Releases tab. The call is also accessible via telephone by dialing 1-(888) 378-4353 for domestic participants or 1-(719) 457-2634 for international participants. Listeners should go to the website at least 15 minutes prior to the call to download and install any necessary audio software. Those dialing in should call in at least five to ten minutes prior to the start.

The conference call will be recorded and a telephone replay will be available through March 13, 2012, by dialing 1-(877) 870-5176 for domestic participants or 1-(858) 384-5517 for international participants and entering the passcode 3483645. Additionally, a replay of the call will be available on the Company’s website until its next earnings release.

The earnings release and supplemental data package will be located in the Investor Relations section of the website on the News/Events - Press Releases tab. For those without internet access, the fourth quarter 2011 earnings release and supplemental data package will be available by mail upon request. To receive a copy, please call the Company’s Investor Relations line at (713) 435-2221.

About Whitestone REIT
Whitestone REIT is a fully integrated real estate company that owns, operates and re-develops Community Centered PropertiesTM, 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.

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Whitestone REIT’s Fourth Quarter 2011 Leasing on Track with Increase in Occupancy Over 2010

admin — Tue, 17 Jan 2012 23:21:24 +0000

Small Tenant Leases Drive Occupancy Increase of 1% to 87% versus Fourth Quarter 2010

Houston, Texas, January 17, 2012 –Whitestone REIT (NYSE-Amex: WSR – “Whitestone”), a real estate investment trust that acquires, owns and operates Community Centered PropertiesTM, today reported occupancy and leasing highlights for the fourth quarter, ended December 31, 2011. The physical occupancy of its Operating Portfolio1was 87% as of December 31, 2011, a one percent increase over the prior year ended December 31, 2010 and prior quarter ended September 30, 2011. The Company’s total occupancy including all centers was 84% as of the end of the current quarter, unchanged from September 30, 2011.

Whitestone’s leasing team signed 88 leases totaling 161,000 square feet in new and renewal leases during the fourth quarter, and currently has over 900 total tenants, of which 72% lease less than 3,000 square feet in multi-cultural neighborhoods.

“We continue to increase the quality of our tenant base, which is primarily comprised of entrepreneurs and small business owners that provide service to residents in the neighboring community within a five mile radius from each of our 43 Community Centers,” said James C. Mastandrea, Whitestone’s Chairman and CEO. Mastandrea added: “Our business model is specifically directed toward small tenants because we are able to achieve rental premiums, maintain flexibility and lower tenant improvement costs within our lease space, and minimize our downside risk as no single tenant can impact our revenues by more than 2%.” Mastandrea concluded, “Our small tenant business model has been very successful in our Texas/Illinois Region and we recently have successfully transitioned and expanded it to our Arizona Region. Most important to the success of our operating model are our Whitestone Associates, who comprise our internal leasing and management services teams.”

Leasing Highlights
Arizona Region:
Terravita – Scottsdale: Bedmart signed an expansion and renewal lease for 4,000 square feet; UPS signed a renewal for 1,430 square feet in this seniors-at-home focused Community Center.

Gilbert Tuscany – Gilbert: In this family-themed Community Center, Crossfit signed a new lease for 3,131 square feet.

Citadel – Scottsdale: Three new small tenant leases were signed at this boutique-themed Community Center totaling 1,839 square feet: Rebecca by Design for 470 square feet, Headquarters West for 707 square feet and Manzano Construction for 662 square feet.

Desert Canyon – Scottsdale: Four new small tenant leases totaling 2,790 square feet were signed in this Community Center targeting the surrounding young family demographic: Reese Industries for 398 square feet, Red Brick Mortgage for 298 square feet, Greg Kar for 294 square feet and Unity Chess Club for 1,800 square foot. Three renewals were signed totaling 3,580 square feet: Star Cleaners for 2,100 square feet, Mother Goose Adoption for 1,200 square feet, Richard O’Shaugnessy for 280 square feet.

Texas/Illinois Region:
Corporate Park Northwest – Houston: In this small business incubator themed Community Centre business park, six new leases were signed totaling 7,032 square feet. Tenants include Durham Publication and Axistrade.

Corporate Park West – Houston: Three new leases for a total of 14,715 square feet were signed, including Bozenna Nyk, an art and framing studio and The Luu Group, an engineering firm.

Windsor Park Centre—San Antonio: University of Phoenix signed a new expansion lease, adding 3,581 square feet adjacent to its existing Windsor Park Learning Center; SKECHERS USA signed a 10,000 square feet lease for a new outlet store, scheduled to open for business in the spring of 2012.

South Richey – Houston: Bravo Ranch Supermercado signed a lease for 42,130 square feet of space for a new Hispanic themed grocery store, which plans to open for business in spring 2012 in the space formerly occupied by Kroger, which left the Center at the end of its lease in February 2011. Whitestone REIT announced a major renovation project at South Richey to transform it into a Hispanic-themed Community Center.

Lion Square – Houston: Teletron, a Vietnamese electronics store based in Los Angeles, celebrated its Grand Opening and market entry in Houston in December with a series of events including Lion Dances, giveaways, and a free live concert. Whitestone REIT commenced the redevelopment and transformation plan for Lion Square Center that includes a new façade for the entire Center, as well as new architectural and landscaping features to enhance the internationally-themed culture within the Center.

About Whitestone REITWhitestone REIT is a fully integrated real estate company that owns, operates and re-develops Community Centered PropertiesTM, 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.

1 Operating Portfolio - excludes new acquisitions, through the earlier of (1) attainment of 90% occupancy or 18 months of ownership, and (2) properties which are undergoing significant redevelopment or re-tenanting.

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.

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Whitestone REIT On Track with $90 Million of Value-Add Acquisitions Since IPO

admin — Tue, 10 Jan 2012 21:11:36 +0000

Positioned for Continued Growth in 2012

Houston, Texas, January 10, 2012 – Whitestone REIT (NYSE-AMEX: WSR – “Whitestone”), a fully integrated real estate company that owns, operates and re-develops Community Centered PropertiesTM, which are visibly located properties in established or developing culturally diverse neighborhoods, provided a recap of the nine Community Centered PropertyTM acquisitions the Company completed since its August 2010 initial public offering. The acquisitions, totaling approximately $90 million, were funded from two equity raises totaling 83 million,1 assumption of $14 million of debt, and cash on hand.
High Quality Value-Add Real Estate at Discounted Prices
“We had little or no public company REIT competition for any of these ‘one-off’ transactions,” said James C. Mastandrea, Whitestone’s Chairman and Chief Executive Officer. “Our acquisition approach relies on a win-win creative solution for both the buyer and the seller. The sellers ranged from banks selling foreclosures, to borrowers with loans that were either in default or facing near-term maturity, large principal reductions and/or significant refinancing fees. Our ability to use Operating Partnership Units as currency is an advantage to solve problems for banks and borrowers with properties that are either under managed or under capitalized. Closing quickly is crucial in these types of acquisitions and it is something we do well. In closing on 90% of the properties we placed under contract, we achieved preferred-buyer status with sellers. Most of our acquisitions closed within15 days following a 25 day due diligence period. We expect to continue our growth through accretive acquisitions using additional debt with conservative leverage.”

Whitestone’s Community Centered PropertyTM acquisitions since September 2010 include:
• The Citadel (acquired for $2.2 million)
• MarketPlace at Central (acquired for $6.4 million)
• Desert Canyon (acquired for $3.6 million)
• Terravita Marketplace (acquired for $16.1 million)
• Ahwatukee Plaza (acquired for $9.3 million)
• Gilbert Tuscany Village (acquired for $5.0 million)
• The Pinnacle at Scottsdale Phase I (acquired for $29.0 million)
• The Pinnacle at Scottsdale Phase II (acquired for $950,000)
• Shops at Starwood plus Development Land (acquired for $17.6 million)

About Whitestone REIT
Whitestone REIT (NYSE-AMEX: WSR) is a fully integrated real estate company that owns, operates and re-develops Community Centered PropertiesTM, 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 including medical, education, and casual dining. The largest of its approximately 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 properties in Texas, Arizona, and Illinois. For additional information about the Company, please visit www.whitestonereit.com. The Investor Relations section of the Company's website has links to SEC filings, news releases, financial reports and investor newsletters.

Whitestone REIT Acquisitions: Interested parties should contact Bradford Johnson, Whitestone REIT Director of Acquisitions, via email: bjohnson@whitestonereit.com or phone 713.435.2208.

Forward-Looking Statements
Statements included herein that state Whitestone’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. Whitestone’s actual results, performance or achievements could differ materially from those expressed or implied by these statements. Reference is made to Whitestone’s regulatory filings with the Securities and Exchange Commission for information or factors that may impact Whitestone’s performance.
1$23 million net raised in the Company’s initial public offering (August 25, 2010); $60 million net raised through a secondary public offering (May 10, 2011)
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Whitestone REIT Acquires Shops at Starwood for $15.7 Million, Plus Adjacent Land, in Dallas Area (Frisco)

admin — Wed, 28 Dec 2011 19:16:41 +0000

98% Leased Class A Center plus Value-Add Development Opportunity

Houston, Texas, December 28, 2011 – 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 properties in established or developing culturally diverse neighborhoods, announced today that it has closed on the purchase of the Shops at Starwood for $15.7 million in cash, as well as an adjacent 2.73 acre parcel of undeveloped land for $1.9 million in a separate transaction which was funded through the assumption of a $1.4 million non-recourse loan, secured by the land, and cash of $0.5 million. The Shops at Starwood, a 98% leased Class A Center with 55,385 square feet of gross leasable area on 1. 5 acres of land in affluentFrisco,Texas, was purchased below replacement cost. The adjacent land is zoned to accommodate additional retail and executive office space.

Future Development Potential

The prominent Phase III development site fronts the Dallas North Tollway within the Tollway Overlay District, which grants the highest allowed density of any zoning district. Frisco was the fastest-growing city in the USAin 2009¹ and ranked among the fastest growing in the nation during 2000-2010.² Neighborhoods within a half mile of the Shops at Starwood are among affluent North Dallas’ most exclusive neighborhoods, including Starwood, Chapel Creek, and Stonebriar Park. Population within a five mile trade area is projected to increase by 22% to over 242,000 by 2016.³ Whitestone currently owns two other properties in the Dallas area.

“We are pleased to announce this purchase, our first retail Community Center in the Dallas area, with the value-add potential to add another 36,000 square feet of retail and executive office space in the adjacent development site within an in-demand location. Award-winning tenants at Shops at Starwood have been recognized as being ‘Best’ in their category by D Magazine, Men’s Health, WFA Dallas City Voter, City Search and more,” said James C. Mastandrea, Whitestone’s Chairman and Chief Executive Officer. “With offerings from the ‘Best Barbershop’ to the ‘Best Neighborhood Restaurant,’ and with its specialty dining, small business merchants and upscale service tenants that serve the needs of the local community, the Shops at Starwood development fits well within our Community Centered Property business model.”

About Shops at Starwood

The Shops at Starwood is located in Frisco, Texas, a northern suburb of Dallas, at the corner of the North Dallas Tollway and Lebanon Road. A complementary tenant mix of restaurant, fashion boutiques, salons and second-level office space serves the surrounding affluent community. Notable restaurant tenants include TruFire Kitchen & Bar, Kotta Sushi Lounge, Bonnie Ruth’s Café Trottoir et Patisserie, all of whom have been recognized by D Magazine as “Best” in their respective categories. The Gent’s Place has been recognized as “America’s Best Barbershop” by Men’s Health. The Center, built in 2006 (Phase I) and 2008 (Phase II) by a local developer, features richly designed Mediterranean style architecture with pedestrian plazas, water fixtures, and ornamental landscaping.

About Whitestone REIT

Whitestone REIT (NYSE-AMEX: WSR) 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 including medical, education, and casual dining. The largest of its approximately 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 properties in Texas, Arizona, and Illinois. For additional information about the Company, please visit www.whitestonereit.com. The Investor Relations section of the Company's website has links to SEC filings, news releases, financial reports and investor newsletters.

Whitestone REIT Acquisitions: Interested parties should contact Bradford Johnson, Whitestone REIT Director of Acquisitions, via email: bjohnson@whitestonereit.com or phone 713.435.2208.

Forward-Looking Statements

Statements included herein that state Whitestone’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. Whitestone’s actual results, performance or achievements could differ materially from those expressed or implied by these statements. Reference is made to Whitestone’s regulatory filings with the Securities and Exchange Commission for information or factors that may impact Whitestone’s performance.

Sources:

¹ “Frisco, Other Dallas-area Cities among Fastest Growing …” Dallas Morning News June 23, 2010, Eric Aasen

²US Census Bureau 2010

³ SitesUSA

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