HOUSTON--(BUSINESS WIRE)--
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.
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.
Whitestone REIT
Anne Gregory, (713) 435 2221
Vice President
Marketing & Investor Relations
ir@whitestonereit.com
or
Richard
Rollnick, (480) 584-6181
Director of Real Estate Development
rrollnick@whitestonereit.com
Source: Whitestone REIT