Market Overview

Whitestone REIT brings Sky-high cinema to Houston as global phenomenon Rooftop Cinema Club opens its doors at BLVD Place


Opening Oct. 3 atop Uptown Houston's BLVD Place
Media sneak peek opportunity Oct. 2

HOUSTON, Aug. 13, 2018 (GLOBE NEWSWIRE) -- Whitestone REIT proudly presents the rooftop cinema experience as London-based Rooftop Cinema Club throws open the rooftop doors to Houston's first ever skyline cinema on Oct. 3, 2018 located on the roof of BLVD Place, 1800 Post Oak Blvd., overlooking the Uptown/Galleria area and downtown Houston. This unique open-air venue creates an unparalleled movie-watching experience with sunset screenings of recent releases and cult classics, fine food, craft cocktails, and cozy seating designed for a more social and scenic atmosphere than traditional movie theatres.

Whitestone REIT's chairman and CEO Jim Mastandrea commented, "Whitestone REIT is proud and excited to be the first and only to bring the rooftop cinema experience to the city of Houston and the Uptown community. The ‘Social Cinema' concept blends together the interactive, social networking scene with the nostalgic, outdoor film experience"   

Mr. Mastandrea added, "We believe RCC's unique rooftop cinema fits Whitestone's community-centric, E-Commerce resistant business model; will be a great addition to the BLVD family of entrepreneurial tenants, and a traffic driver to the property. We expect the long term value of the property to increase as we have creatively found uses of space that also enhance the revenue drivers –triple net leases and percentage rent clauses– of other tenants on the property."

Mr. Mastandrea concluded, "This is another example of Whitestone's ability to bring a value-add component to each of the properties in our portfolio that rewards both our existing tenants and our shareholders."    

The buzz around BLVD Place with the new concept hitting the city of Houston has been enormous and continues to grow; as evidenced by numerous media outlets carrying the story. According to…

  • the Houston Chronicle, "… a new generation of Houstonians will pay to watch movies under an open sky..." 
  • Culturemap Houston, "… The concept is as simple and appealing as a Spielberg plot: the rooftop, open-air venue offers up sunset screenings of new releases and classics…"   
  • KHOU11, "… Houston will soon become the first city in the Lone Star State with a Rooftop Cinema Club..."  
  • ABC13, "… Houston's new rooftop theater will have you enjoying the feeling of an outdoor movie, all while taking in the views of the city..."
  • Houston Business Journal, "… Houston marks Rooftop Cinema Club's fourth U.S. city to open following its international expansion from London…"

"Uptown's skyline and the BLVD Place location are a perfect fit for our film experience," says Gerry Cottle Jr., Rooftop Cinema Club founder. "We've found that movie-goers don't always want to sit quietly in a large dark room, but instead make it an experience they can share with friends and family."

Houston marks Rooftop Cinema Club's fourth U.S. city to open following its international expansion from London where it began in 2011. The first U.S. venue was opened in New York followed by two in Los Angeles and one in San Diego that opened in April 2018.

Ticket Information
Tickets for opening weekend go on sale Wed., Aug. 29, 2018 and start at $17 per person for a single deck-chair, $20 for a deck-chair and bottomless popcorn, or couples can choose a double love-seat and popcorn for $24 per person.

All tickets include studio-quality wireless headphones and cozy blankets for use during the movie, which is projected on to a giant rooftop screen with state-of-the-art HD projectors.

Show times and tickets can be purchased at Film lovers are encouraged to sign up for the newsletter now so that they are first to hear about tickets and other up-and-coming news at Rooftop Cinema Club.

Media Sneak Peek
Save the Date for Oct. 2, the day before opening to the public, Rooftop Cinema Club will host a private showing for members of the media only to capture the experience and speak with Rooftop Cinema's management team. Please RSVP to Eric Herrera,

About Whitestone REIT
Whitestone 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 provide 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. Visit for additional information.

About Rooftop Cinema Club
The ultimate open-air film experience, Rooftop Film Club started as a single rooftop in London's Shoreditch in 2011 and has now expanded globally with four venues in the UK and rooftops in LA, NYC, San Diego and now Houston. Sold out crowds enjoy sunset film screenings under the stars using state of the art projectors, high quality wireless headphones, comfy deck chairs and cozy blankets, all coupled with the best food and drink on offer. 

About BLVD Place
BLVD Place is a mixed-use development in the Uptown area of Houston, Texas. Owned and managed by Whitestone REIT, BLVD Place is an urban destination located in the 15th largest CBD in the country, encompassing the Galleria area. Strategically positioned at the intersection of San Felipe and prestigious Post Oak Boulevard, BLVD Place is ideally located to capitalize on Uptown's daytime working population and the affluent neighborhoods of Tanglewood, River Oaks, and others. The dynamic area has tenants including Whole Foods Market, Frost Bank, True Food Kitchen, North Italia, Regus Workspaces, Newmark Grubb Knight Frank, Pinkberry, Elaine Turner, The Eye Gallery, Laura Rathe Fine Art, Sozo Sushi, The Boardroom, Façade, Rise Soufflé & Wine Bar, Sakowitz Furs, Paloma, Luxington Boutique, Bellami Hair, and Verizon Wireless.

Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Company intends for all such forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act, as applicable. Such information is subject to certain risks and uncertainties, as well as known and unknown risks, which could cause actual results to differ materially from those projected or anticipated. Therefore, such statements are not intended to be a guarantee of our performance in future periods. Such forward-looking statements can generally be identified by the Company's use of forward-looking terminology, such as "may," "will," "plan," "expect," "intend," "anticipate," "believe," "continue," "goals" or similar words or phrases that are predictions of future events or trends and which do not relate solely to historical matters.

The following are some of the factors that could cause the Company's actual results and its expectations to differ materially from those described in the Company's forward-looking statements: the Company's ability to meet its long-term goals, its assumptions regarding its earnings guidance, including its ability to execute effectively its acquisition and disposition strategy, to continue to execute its development pipeline on schedule and at the expected costs, and its ability to grow its NOI as expected, which could be impacted by a number of factors, including, among other things, its ability to continue to renew leases or re-let space on attractive terms and to otherwise address its leasing rollover; its ability to successfully identify, finance and consummate suitable acquisitions, and the impact of such acquisitions, including financing developments, capitalization rates and internal rate of return; the Company's ability to reduce or otherwise effectively manage its general and administrative expenses, including in connection with the recent proposed nomination of trustees by a shareholder of the Company; the Company's ability to fund from cash flows or otherwise distributions to its shareholders at current rates or at all; current adverse market and economic conditions; lease terminations or lease defaults; the impact of competition on the Company's efforts to renew existing leases; changes in the economies and other conditions of the specific markets in which the Company operates; economic, legislative and regulatory changes, including the impact of the Tax Cuts and Jobs Act of 2017; the success of the Company's real estate strategies and investment objectives; the Company's ability to continue to qualify as a REIT under the Internal Revenue Code of 1986, as amended; and other factors detailed in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents the Company files with the Securities and Exchange Commission ("SEC") from time to time.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company cannot guarantee the accuracy of any such forward-looking statements contained in this press release, and the Company does not intend to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Whitestone REIT Contact:
Kevin Reed, Director of Investor Relations
Whitestone REIT
(713) 435-2219 

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