Whitestone Adds Another Independent Member to the Board of Trustees, Expanding the Board to Seven Members
February 13 2020 - 04:30PM
Whitestone REIT (NYSE: WSR) (“Whitestone” or the “Company”), a
leading owner and operator of e-commerce resistant,
community-centered retail properties producing industry leading,
long-term Total Shareholder Returns(1), announced today that Jeff
Jones has been added to the Company’s Board of Trustees (the
“Board”) as a Class II member of the Board, effective today. With
the addition of Mr. Jones, the Board will expand to seven
members.
Whitestone Chairman and CEO Jim Mastandrea
commented, “I am pleased to welcome Jeff to the Board of Trustees.
His leadership, experience, and deep financial skillset make him an
excellent addition to the Board.”
Jeff Jones is a Managing Director at Stephens
Inc. He co-headed Blackhill Partners, an investment banking and
restructuring firm, from 2011 through the firm’s acquisition from
its founder and the firm’s subsequent sale to Stephens Inc. in
2018. Mr. Jones has over 35 years of experience as an investment
banker and restructuring advisor. He has served as a company
director and has advised healthy and distressed companies,
creditors and shareholders.
Mr. Jones holds a BBA from the Cox School of
Business at Southern Methodist University. He is a Chartered
Financial Analyst (CFA) and a Certified Turnaround Professional
(CTP). He holds FINRA Series 7, 63 and 79 licenses.
Mr. Jones has chaired finance committees, served
on audit committees and been qualified as an expert in valuation,
sale process and interest rates in federal courts in the Northeast,
including Delaware, the Midwest and the Southern United States.
Mr. Jones commented, “I am honored to be
appointed to Whitestone’s Board of Trustees. It is an exciting time
to be a part of Whitestone and I am looking forward to serving the
shareholders.”
Mr. Mastandrea concluded, “Jeff brings a unique
knowledge base, financial expertise, and an understanding of
corporate governance that should be immediately accretive to our
already strong and deep Board. Jeff’s addition will only strengthen
a Board that will continue to oversee the successful execution of
Whitestone’s differentiated e-commerce resistant business
model.”
About Whitestone REITWhitestone
is a community-centered retail REIT that acquires, owns, manages,
develops and redevelops high quality "e-commerce resistant"
neighborhood, community and lifestyle retail centers principally
located in the largest, fastest-growing and most affluent markets
in the Sunbelt. Whitestone’s optimal mix of national, regional and
local tenants provides daily necessities, needed services and
entertainment to the communities in which they are located.
Whitestone's properties are primarily located in business-friendly
Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio, which
are among the fastest growing U.S. population centers with highly
educated workforces, high household incomes and strong job growth.
For additional information, visit www.whitestonereit.com.
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(1) |
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Whitestone REIT Total Shareholder Return as compared to its peers
based on SNL data. Performance Period: 2017 – 2019. Total
shareholder return is defined as share price change plus
re-invested dividends. Peers include Acadia Realty Trust, Brixmor
Property Group Inc., Cedar Realty Trust Inc., Federal Realty
Investment Trust, Kimco Realty Corp., Kite Realty Group Trust, RPT
Realty, Regency Centers Corp., Retail Opportunity Investments
Corp., Retail Properties of America, Inc., Saul Centers Inc., Site
Centers Corp., Urban Edge Properties, Urstadt Biddle Properties
Inc., Weingarten Realty Investors, and Wheeler REIT Inc., excluding
any such peer which was not a public company for the entirety of
the applicable TSR period |
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Contact Whitestone REIT:Kevin ReedDirector of
Investor Relations(713) 435-2219ir@whitestonereit.com
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