Whitestone's chairman and CEO Jim Mastandrea says the REIT plansto close additional deals in early 2008 in business-friendlystates. "We're looking at office, retail and warehouse, and ourinitial assets will be individual assets, to start with," he says,adding there are "one or two" assets under contract and another oneor two properties lined up for development. "That'll start seedingour work for 2008," he says.

Also on the drawing board is redevelopment and overhauls ofproperties that the REIT inherited late lastyear when it split from Hartman Management. Mastandreatells GlobeSt.com that the REIT has spent several monthsidentifying issues with certain assets and determining how tocorrect the problems. He says the cap-ex budget will besignificant. "We've identified about 11 properties to upgrade andplan to invest money in them," he says, adding that more specificinformation will come out in the fall. He didn't specify if theplan will target its class B headquarters building, Woodlake at2600 S. Gessner Rd. in Westchase.

To move REIT's plan forward, several staff members have receivedpromotions. CFO David K. Holeman also assumes a vice president'stitle. Other changes are Valarie King, who becomes senior vicepresident of property management; Samuel Demissie, vice presidentof acquisitions and asset management; Richard A. Vaughan, vicepresident of marketing and investor relations; Theodore R. Zeck,vice president of information systems; Priscilla Gonzalez,administration officer and office manager; J.R. O'Brien, seniorcounsel; and Roger Nasiff, vice president of construction.