Director of Investor Relations, Whitestone Reit
Search every verified David Mordy interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. In a September 2024 interview, Whitestone REIT CEO David Holeman discussed the company’s strategy and recent performance. He stated that the company focuses on small-space tenants, with 94% of its 1,500 tenants occupying spaces under 10,000 square feet, and noted that this is intentional because demand is strongest in that segment. Holeman said the company has benefited from a post-pandemic trend of people spending more time near their homes. He described the current environment for Whitestone as “as strong as I’ve ever seen,” citing limited new retail supply in its markets over the past decade. Holeman also addressed a recent proxy contest, saying the company spent significant time with shareholders and that many claims by the dissident were “inaccurate and misleading.” He said the company learned from the experience but hopes not to repeat it. He highlighted progress since he became CEO in early 2022, including governance changes, balance sheet strengthening, and exiting joint venture investments, which he said contributed to a total shareholder return of over 40%. Holeman added that the company recently won litigation matters that will allow it to further reduce debt, and that with its debt locked in and strong organic growth, he expects a favorable two to three years ahead.
“We really focused on continuing to improve our financial and operating performance, we wanted to dramatically improve our relationship with shareholders and initially we announced a series of governance changes, committed to strengthening our balance sheet, reducing our leverage and then really exiting and monetizing o...”
“94% of our 1500 tenants occupy spaces less than 10,000 square feet; those tenants make up 75% of our revenue and that's very intentional for us. If you compare us to a number of the other public REITs, that percentage would be about 50% for them, it's 75% for us, so very much focused on small spaces because that's wher...”
“One trend we've seen that came out of the pandemic was people work virtually much more than ever before, and so for Whitestone as an owner of neighborhood centers, we see people spend more time around their homes and we're benefiting from that trend.”
“Quality of revenue is very important to us. Being able to grow by raising our rental rates over time is strongly tied to the success of thriving businesses that drive traffic and grow. Today's environment for companies like Whitestone is as strong as I've ever seen.”
David Holeman, CEO of Whitestone REIT, joined Judy Shaw on #NYSEFloorTalk at the NYSE Texas Economic Summit to discuss ...
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