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

Whitestone REIT

today reported occupancy and leasing highlights for the first quarter, ended March 31, 2012. The physical occupancy of its Operating Portfolio1 was 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.