HOUSTON, Sept. 17, 2008 (GLOBE NEWSWIRE) -- Whitestone REIT, which owns and manages 35 urban commercial properties in Texas and Arizona, today announced that a preliminary assessment of its Houston properties following Hurricane Ike, showed mostly minimal damage to signage and landscaping, with roof damage to several properties and widespread loss of electric power.
Whitestone's property management and construction teams began actively working through a safety and recovery checklist on Saturday afternoon, in an effort to help tenants quickly resume normal business operations.
"Considering Houston's overall damages, we are most fortunate that our associates and their families are safe, and our properties are becoming operational as power returns," said James C. Mastandrea, Whitestone's Chairman and CEO.
About Whitestone REIT
Whitestone REIT owns and operates urban commercial properties serving communities in Houston, Dallas, San Antonio, and Scottsdale, Arizona. For more information go to www.whitestonereit.com.
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.