HOUSTON--(BUSINESS WIRE)--
Whitestone REIT (NYSE-MKT: 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 it has received approval to list its
common shares on the New York Stock Exchange (“NYSE”). In anticipation
of the transfer from the NYSE MKT to the NYSE, Whitestone REIT notified
the NYSE MKT today of its intent to voluntarily delist its Class B
common shares from the NYSE MKT. Prior to the transfer, Whitestone
expects to effect amendments to its declaration of trust that
consolidate its Class A and Class B common shares into a single class of
common shares, as approved by shareholders at the 2012 annual meeting.
Trading of Whitestone’s common shares is scheduled to commence on the
NYSE on or about June 29, 2012, under its existing ticker symbol WSR.
Until that time, trading of Whitestone’s common shares will continue on
the NYSE MKT.
“This move to the New York Stock Exchange is important to Whitestone, as
we expect it to increase our visibility in the investment community and
enhance our investor outreach as we continue to build shareholder
value,” said James C. Mastandrea, Whitestone’s Chairman and Chief
Executive Officer. “Having our shares trade on the NYSE represents a
significant milestone as we work toward our goal of growing Whitestone
into a leader in the Community Centered Property™ REIT space.”
About Whitestone REIT
Whitestone REIT (NYSE-MKT: 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 over 950 tenants comprises less than 1.5% 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
Whitestone’s filings with the Securities and Exchange Commission, news
releases, financial reports and investor newsletters.
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.
Whitestone REIT
Anne Gregory, (713) 435 2221
Vice
President Marketing & Investor Relations
ir@whitestonereit.com
Source: Whitestone REIT