Whitestone REIT (WSR) 10-K 8 Mar 21 2020 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2020	Mar. 04, 2021	Jun. 30, 2020
Entity Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Document Transition Report	false
Entity File Number	001-34855
Entity Registrant Name	WHITESTONE REIT
Entity Central Index Key	0001175535
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	76-0594970
Entity Address, Address Line One	2600 South Gessner
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77063
City Area Code	713
Local Phone Number	827-9595
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 307,838,248
Entity Common Stock, Shares Outstanding		42,478,720
Documents Incorporated by Reference	We incorporate by reference in Part III of this Annual Report on Form 10-K portions of our definitive proxy statement for our 2021 Annual Meeting of Shareholders, which proxy statement will be filed no later than 120 days after the end of our fiscal year ended December 31, 2020.
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Shares of Beneficial Interest, par value $0.001 per share
Trading Symbol	WSR
Security Exchange Name	NYSE
Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	Preferred Stock Purchase Rights
No Trading Symbol Flag	true
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Real estate assets, at cost
Property		$ 1,106,426	$ 1,099,955
Accumulated depreciation		(163,712)	(137,933)
Total real estate assets		942,714	962,022
Investment in real estate partnership		33,979	34,097
Cash and cash equivalents		25,777	15,530
Restricted cash		179	113
Escrows and acquisition deposits		9,274	8,388
Accrued rents and accounts receivable, net of allowance for doubtful accounts		23,009	22,854
Receivable due from related party		335	477
Unamortized lease commissions, legal fees and loan costs		7,686	8,960
Prepaid expenses and other assets	[1]	2,049	3,819
Operating lease right of use assets		592	1,328
Total assets		1,045,002	1,056,260
Liabilities:
Notes payable		644,185	644,699
Accounts payable and accrued expenses	[2]	50,918	39,336
Operating lease liabilities		603	1,331
Payable due to related party		125	307
Tenants' security deposits		6,916	6,617
Dividends and distributions payable		4,532	12,203
Total liabilities		706,676	703,162
Commitments and contingencies:		0	0
Equity:
Preferred shares, $0.001 par value per share; 50,000,000 shares authorized; none issued and outstanding as of December 31, 2020 and December 31, 2019		0	0
Common shares, $0.001 par value per share; 400,000,000 shares authorized; 42,391,316 and 41,492,117 issued and outstanding as of December 31, 2020 and December 31, 2019, respectively		42	41
Additional paid-in capital		562,250	554,816
Accumulated deficit		(215,809)	(204,049)
Accumulated other comprehensive loss		(14,400)	(5,491)
Total Whitestone REIT shareholders' equity		332,083	345,317
Noncontrolling interest in subsidiary		6,243	7,781
Total equity		338,326	353,098
Total liabilities and equity		$ 1,045,002	$ 1,056,260
[1]	Operating lease right of use assets (net)
[2]	Operating lease liabilities

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Preferred shares, par value per share (in dollars per share)	$ 0.001	$ 0.001
Preferred shares, shares authorized (in shares)	50,000,000	50,000,000
Preferred shares, shares issued (in shares)	0	0
Preferred shares, shares outstanding (in shares)	0	0
Common shares, par value per share (in dollars per share)	$ 0.001	$ 0.001
Common shares, authorized (in shares)	400,000,000	400,000,000
Common shares, issued (in shares)	42,391,316	41,492,117
Common shares, outstanding (in shares)	42,391,316	41,492,117

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues
Rental	[1]	$ 115,084	$ 117,014
Rental	[1]			$ 117,464
Management, transaction, and other fees		2,831	2,237	2,399
Total revenues		117,915	119,251	119,863
Operating expenses
Depreciation and amortization		28,303	26,740	25,679
Operating and maintenance		20,563	20,611	21,069
Real estate taxes		18,015	16,293	16,362
General and administrative	[2]	21,303	21,661	23,281
Total operating expenses		88,184	85,305	86,391
Other expenses (income)
Interest expense		25,770	26,285	25,177
Loss (gain) on sale or disposal of assets, net		364	(638)	(4,547)
Gain on loan forgiveness		(1,734)	0	0
Interest, dividend and other investment income		(278)	(659)	(1,055)
Total other expense		24,122	24,988	19,575
Income before equity investment in real estate partnership and income tax		5,609	8,958	13,897
Equity in earnings of real estate partnership		921	15,076	8,431
Provision for income tax		(379)	(400)	(347)
Income from continuing operations		6,151	23,634	21,981
Gain on sale of property from discontinued operations		0	594	0
Income from discontinued operations		0	594	0
Net income		6,151	24,228	21,981
Less: Net income attributable to noncontrolling interests		117	545	550
Net income attributable to Whitestone REIT		$ 6,034	$ 23,683	$ 21,431
Basic Earnings Per Share:
Income from continuing operations attributable to Whitestone REIT, excluding amounts attributable to unvested restricted shares (in dollars per share)		$ 0.14	$ 0.57	$ 0.54
Income from discontinued operations attributable to Whitestone REIT (in dollars per share)		0	0.02	0
Net income attributable to common shareholders, excluding amounts attributable to unvested restricted shares (in dollars per share)		0.14	0.59	0.54
Diluted Earnings Per Share:
Income from continuing operations attributable to Whitestone REIT, excluding amounts attributable to unvested restricted shares (in dollars per share)		0.14	0.56	0.52
Income from discontinued operations attributable to Whitestone REIT (in dollars per share)		0	0.01	0
Net income attributable to common shareholders, excluding amounts attributable to unvested restricted shares (in dollars per share)		$ 0.14	$ 0.57	$ 0.52
Weighted average number of common shares outstanding:
Basic (in shares)		42,244,000	40,184,000	39,274,000
Diluted (in shares)		42,990,000	41,462,000	40,612,000
Consolidated Statements of Comprehensive Income (Loss)
Net income		$ 6,151	$ 24,228	$ 21,981
Other comprehensive income (loss)
Unrealized gain (loss) on cash flow hedging activities		(9,062)	(9,828)	1,192
Unrealized gain on available-for-sale marketable securities		0	0	18
Comprehensive income (loss)		(2,911)	14,400	23,191
Less: Net income attributable to noncontrolling interests		117	545	550
Less: Comprehensive income (loss) attributable to noncontrolling interests		(173)	(221)	30
Comprehensive income (loss) attributable to Whitestone REIT		(2,855)	14,076	22,611
Rental revenues (under Topic 842)
Rental revenues		87,291	86,750
Recoveries		33,442	31,748
Bad debt		(5,649)	(1,484)
Total rental	[1]	$ 115,084	$ 117,014
Rental revenues (under Topic 840)
Rental revenues				86,644
Recoveries				30,820
Total rental	[1]			117,464
Bad debt (prior to adoption of Topic 842)				$ 1,391
[1]	(1) Rental Rental revenues $ 87,291 $ 86,750 $ 86,644 Recoveries 33,442 31,748 30,820 Bad debt (5,649) (1,484) N/A Total rental $ 115,084 $ 117,014 $ 117,464
[2]	(2) Bad debt included in operating and maintenance expenses prior to adoption of Topic 842 N/A N/A $ 1,391

Consolidated Statement of Chang

Consolidated Statement of Changes in Equity - USD ($) $ in Thousands		Total	Cumulative Effect, Period of Adoption, Adjustment	[1]	Cumulative Effect, Period of Adoption, Adjusted Balance	Common Shares	Common SharesCumulative Effect, Period of Adoption, Adjusted Balance	Additional Paid-in Capital	Additional Paid-in CapitalCumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Deficit	Accumulated DeficitCumulative Effect, Period of Adoption, Adjustment	[1]	Accumulated DeficitCumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Other Comprehensive Gain (Loss)	Accumulated Other Comprehensive Gain (Loss)Cumulative Effect, Period of Adoption, Adjusted Balance	Total Shareholders' Equity	Total Shareholders' EquityCumulative Effect, Period of Adoption, Adjustment	[1]	Total Shareholders' EquityCumulative Effect, Period of Adoption, Adjusted Balance	Noncontrolling Interests	Noncontrolling InterestsCumulative Effect, Period of Adoption, Adjusted Balance
Beginning Balance (in shares) at Dec. 31, 2017						39,222,000	39,222,000
Beginning Balance (in units) at Dec. 31, 2017																				1,084,000	1,084,000
Beginning Balance at Dec. 31, 2017		$ 358,404	$ 19,119		$ 377,523	$ 38	$ 38	$ 521,314	$ 521,314	$ (176,684)	$ 19,119		$ (157,565)	$ 2,936	$ 2,936	$ 347,604	$ 19,119		$ 366,723	$ 10,800	$ 10,800
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exchange of noncontrolling interest OP units for common shares (in shares)						155,000														(155,000)
Exchange of noncontrolling interest OP units for common shares		0				$ 1		1,545								1,546				$ (1,546)
Issuance of common shares under dividend reinvestment plan (in shares)						10,000
Issuance of common shares under dividend reinvestment plan		133						133								133
Exchange offer costs		(126)						(126)								(126)
Repurchase of common shares (in shares)	[2]					(160,000)
Repurchase of common shares	[2]	(1,961)						(1,961)								(1,961)
Shared-based compensation (in shares)						551,000
Share-based compensation		6,742						6,742								6,742
Distributions		(46,352)								(45,227)						(45,227)				(1,125)
Unrealized gain (loss) on change in fair value of cash flow hedge		1,192												1,162		1,162				30
Unrealized gain on change in fair value of available-for sale marketable securities		18												18		18
Reallocation of ownership percentage between parent and subsidiary		0						15								15				(15)
Net income		21,981								21,431						21,431				550
Ending Balance at Dec. 31, 2018		359,150				$ 39		527,662		(181,361)				4,116		350,456				$ 8,694
Ending Balance (in shares) at Dec. 31, 2018						39,778,000
Ending Balance (in units) at Dec. 31, 2018																				929,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exchange of noncontrolling interest OP units for common shares (in shares)						20,000														(20,000)
Exchange of noncontrolling interest OP units for common shares		0						186								186				$ (186)
Issuance of common shares under dividend reinvestment plan (in shares)						10,000
Issuance of common shares under dividend reinvestment plan		137						137								137
Issuance of common shares - ATM Program, net of offering costs (in shares)						1,612,000
Issuance of common shares - ATM Program, net of offering costs		21,246				$ 2		21,244								21,246
Exchange offer costs		(120)						(120)								(120)
Repurchase of common shares (in shares)	[2]					(65,000)
Repurchase of common shares	[2]	(776)						(776)								(776)
Shared-based compensation (in shares)						137,000
Share-based compensation		6,483						6,483								6,483
Distributions		(47,422)								(46,371)						(46,371)				(1,051)
Unrealized gain (loss) on change in fair value of cash flow hedge		(9,828)												(9,607)		(9,607)				(221)
Unrealized gain on change in fair value of available-for sale marketable securities		0
Net income		24,228								23,683						23,683				545
Ending Balance at Dec. 31, 2019		$ 353,098				$ 41		554,816		(204,049)				(5,491)		345,317				$ 7,781
Ending Balance (in shares) at Dec. 31, 2019		41,492,117				41,492,000
Ending Balance (in units) at Dec. 31, 2019																				909,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exchange of noncontrolling interest OP units for common shares (in shares)						136,000														(136,000)
Exchange of noncontrolling interest OP units for common shares		$ 0				$ 1		1,161								1,162				$ (1,162)
Issuance of common shares under dividend reinvestment plan (in shares)						11,000
Issuance of common shares under dividend reinvestment plan		89						89								89
Issuance of common shares - ATM Program, net of offering costs (in shares)						171,000
Issuance of common shares - ATM Program, net of offering costs		2,241						2,241								2,241
Exchange offer costs		(43)						(43)								(43)
Repurchase of common shares (in shares)	[2]					(178,000)
Repurchase of common shares	[2]	(2,077)						(2,077)								(2,077)
Shared-based compensation (in shares)						759,000
Share-based compensation		6,063						6,063								6,063
Distributions		(18,134)								(17,794)						(17,794)				(340)
Unrealized gain (loss) on change in fair value of cash flow hedge		(9,062)												(8,889)		(8,889)				(173)
Unrealized gain on change in fair value of available-for sale marketable securities		0
Reallocation of ownership percentage between parent and subsidiary		0												(20)		(20)				20
Net income		6,151								6,034						6,034				117
Ending Balance at Dec. 31, 2020		$ 338,326				$ 42		$ 562,250		$ (215,809)				$ (14,400)		$ 332,083				$ 6,243
Ending Balance (in shares) at Dec. 31, 2020		42,391,316				42,391,000
Ending Balance (in units) at Dec. 31, 2020																				773,000
[1]	Represents the impact of change in accounting principal for our modified retrospective adoption of ASU 2014-09. See Note 2 of the notes to the consolidated financial statements for additional disclosure.
[2]	During the years ended December 31, 2020, 2019 and 2018, the Company acquired common shares held by employees who tendered owned common shares to satisfy the tax withholding on the lapse of certain restrictions on restricted shares.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Income from continuing operations	$ 6,151	$ 23,634	$ 21,981
Net income from discontinued operations	0	594	0
Net income	6,151	24,228	21,981
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	28,303	26,740	25,679
Amortization of deferred loan costs	1,113	1,095	1,092
Loss on sale of marketable securities	0	0	20
Gain on sale or disposal of assets and loan forgiveness, net	(1,370)	(638)	(4,547)
Bad debt	5,649	1,484	1,391
Share-based compensation	6,063	6,483	6,741
Equity in earnings of real estate partnership	(921)	(15,076)	(8,431)
Changes in operating assets and liabilities:
Escrows and acquisition deposits	(885)	(177)	(295)
Accrued rents and accounts receivable	(6,055)	(2,998)	(1,893)
Receivable due from related party	142	(83)	610
Distributions from real estate partnership	1,039	6,926	1,324
Unamortized lease commissions, legal fees and loan costs	(1,343)	(1,824)	(1,676)
Prepaid expenses and other assets	2,255	(4,163)	1,175
Accounts payable and accrued expenses	2,518	5,609	(2,429)
Payable due to related party	(182)	249	(1,621)
Tenants' security deposits	299	487	436
Net cash provided by operating activities	42,776	47,748	39,557
Cash flows from investing activities:
Acquisitions of real estate	0	(34,804)	0
Additions to real estate	(7,362)	(13,243)	(11,638)
Proceeds from note receivable	922	0	0
Proceeds from sales of properties	0	0	12,574
Proceeds from financed receivable due from related party	0	5,661	9,812
Proceeds from sales of marketable securities	0	0	30
Net cash provided by (used in) investing activities	(6,440)	(42,386)	10,778
Net cash provided by investing activities of discontinued operations	0	594	0
Cash flows from financing activities:
Distributions paid to common shareholders	(25,203)	(45,627)	(44,944)
Distributions paid to OP unit holders	(511)	(1,055)	(1,155)
Proceeds from issuance of common shares, net of offering costs	2,241	21,244	0
Payments of exchange offer costs	(43)	(120)	(126)
Proceeds from bonds and notes payable	1,734	100,000	0
Net proceeds from (payments of) credit facility	10,000	(66,700)	9,000
Repayments of notes payable	(12,164)	(8,095)	(2,543)
Payments of loan origination costs	0	(2,970)	(30)
Repurchase of common shares	(2,077)	(776)	(1,961)
Net cash used in financing activities	(26,023)	(4,099)	(41,759)
Net increase in cash, cash equivalents and restricted cash	10,313	1,857	8,576
Cash, cash equivalents and restricted cash at beginning of period	15,643	13,786	5,210
Cash, cash equivalents and restricted cash at end of period	25,956	15,643	13,786
Supplemental disclosure of cash flow information:
Cash paid for interest	24,741	25,360	24,610
Cash paid for taxes	353	396	304
Non cash investing and financing activities:
Disposal of fully depreciated real estate	88	234	937
Financed insurance premiums	1,431	1,238	1,273
Value of shares issued under dividend reinvestment plan	89	137	133
Value of common shares exchanged for OP units	1,162	186	1,546
Change in fair value of available-for-sale securities	0	0	18
Change in fair value of cash flow hedge	(9,062)	(9,828)	1,192
Reallocation of ownership percentage between parent and subsidiary	(20)	0	15
Property received as termination fee	251	0	250
Cash, cash equivalents and restricted cash
Total cash, cash equivalents and restricted cash	$ 25,956	$ 13,786	$ 13,786

Description of Business and Nat

Description of Business and Nature of Operations	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Nature of Operations	DESCRIPTION OF BUSINESS AND NATURE OF OPERATIONS Whitestone REIT (“Whitestone”) was formed as a real estate investment trust, pursuant to the Texas Real Estate Investment Trust Act on August 20, 1998. In July 2004, we changed our state of organization from Texas to Maryland pursuant to a merger where we merged directly with and into a Maryland real estate investment trust formed for the sole purpose of the reorganization and the conversion of each of our outstanding common shares of beneficial interest of the Texas entity into 1.42857 common shares of beneficial interest of the Maryland entity. We serve as the general partner of Whitestone REIT Operating Partnership, L.P. (the “Operating Partnership” or “WROP” or “OP”), which was formed on December 31, 1998 as a Delaware limited partnership. We currently conduct substantially all of our operations and activities through the Operating Partnership. As the general partner of the Operating Partnership, we have the exclusive power to manage and conduct the business of the Operating Partnership, subject to certain customary exceptions. As of December 31, 2020, 2019 and 2018, we owned 58, 58, and 57 commercial properties, respectively, in and around Austin, Chicago, Dallas-Fort Worth, Houston, Phoenix and San Antonio. As of December 31, 2020, these properties consist of: Consolidated Operating Portfolio • 52 wholly-owned properties that meet our Community Centered Properties ® strategy; Redevelopment, New Acquisitions Portfolio • one wholly-owned property, Las Colinas Village, that meets our Community Centered Properties ® strategy, and is classified as part of our new acquisition portfolio. Acquired properties are categorized in the new acquisition portfolio until the earlier of attainment of 90% occupancy or 18 months of ownership; and • five parcels of land held for future development. As of December 31, 2020, we, through our equity-method investment in Pillarstone Capital REIT Operating Partnership LP (“Pillarstone” or “Pillarstone OP”), owned a majority interest in eight properties that do not meet our Community Centered Property® strategy containing approximately 0.9 million square feet of GLA (the “Pillarstone Properties”). We own 81.4% of the total outstanding units of Pillarstone OP, which we account for using the equity method. We also manage the day-to-day operations of Pillarstone OP. We anticipate that the global health crisis caused by COVID-19 and the related responses intended to control its spread will continue to adversely affect business activity, particularly relating to our retail tenants, across the markets in which we operate. As part of the initial responses to the virus, many governmental authorities implemented measures such as enhanced screenings, quarantine or shelter in place requirements and travel restrictions, including local governments in Texas and Arizona, where all but one of our properties are located. In May 2020, parts of the U.S. began to ease certain restrictions and allow for the reopening of businesses but with required or recommended safety protocols. Due to the increase in the number of COVID-19 cases in the fall of 2020, parts of the U.S. implemented additional stay in place orders and other restrictions. While as of the date of this Annual Report on Form 10-K, service businesses are permitted to be open with limited occupancy in Texas and Arizona, the timing and ultimate impact of any steps to reopen the economy as a whole and on our and our tenants’ businesses and financial condition remains uncertain. As a result, there can be no assurance that service businesses will remain open in the near term, or that state and local governments will not take additional measures to control a possible resurgence of COVID-19 in Texas and/or Arizona, any of which may adversely impact our or our tenants’ businesses and their ability to pay their rental payments or otherwise occupy their space. Though COVID-19 vaccines have become available in the U.S. there remain uncertainties as to the logistics of distribution and the overall efficacy of the vaccine program, and there can be no assurances regarding the timing for when vaccines or other therapies will be widely available and effective and the related impact on the economic recovery. In light of the changing nature of the COVID-19 pandemic, we are unable to predict the extent that its impact will have on our financial condition, results of operations and cash flows due to numerous uncertainties including, but not limited to, the duration and spread of the pandemic, its severity in our markets and elsewhere, governmental actions to contain the spread of the pandemic and respond to the reduction in global economic activity, the unknown timing or effectiveness of treatments, possible resurgences of COVID-19 cases in future periods and how quickly and to what extent normal economic and operating conditions can resume. The Company is closely monitoring the impact of the COVID-19 pandemic on all aspects of its business and markets, including how it will impact the businesses of its tenants. The Company has put in place a temporary response team to address tenant concerns in light of the COVID-19 pandemic. The response team is in ongoing communication with the Company’s tenants and is assisting tenants in identifying local, state and federal resources that may be available to support their businesses and employees during the pandemic, including stimulus funds that may be available under the CARES Act. To date, the Company has received a number of rent relief requests from tenants, most often in the form of rent deferral requests, as a result of the COVID-19 pandemic. The Company is evaluating each tenant rent relief request on an case-by-case basis, considering a number of factors. Not all tenant requests will ultimately result in lease concessions, nor is the Company forgoing its contractual rights under its lease agreements at this time. As of the date of this Annual Report on Form 10-K , as a result of the impact of the COVID-19 pandemic, we have received payments of approximately 95% of contractual base rent and common area maintenance reimbursables billed for the fourth quarter.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Consolidation. We are the sole general partner of the Operating Partnership and possess full legal control and authority over the operations of the Operating Partnership. As of December 31, 2020, 2019 and 2018, we owned a majority of the partnership interests in the Operating Partnership. Consequently, the accompanying consolidated financial statements include the accounts of the Operating Partnership. Noncontrolling interest in the accompanying consolidated financial statements represents the share of equity and earnings of the Operating Partnership allocable to holders of partnership interests other than us. Net income or loss is allocated to noncontrolling interests based on the weighted-average percentage ownership of the Operating Partnership during the year. Issuance of additional common shares of beneficial interest in Whitestone (the “common shares”) and units of limited partnership interest in the Operating Partnership that are convertible into cash or, at our option, common shares on a one-for-one basis (the “OP units”) changes the percentage of ownership interests of both the noncontrolling interests and Whitestone. Profit-sharing Method. In accordance with the Financial Accounting Standards Board’s (“FASB”) guidance applicable to sales of real estate or interests therein, specifically FASB Accounting Standards Codification (“ASC”) 360-20, “Real Estate Sales,” Topic 606, “Revenue from Contracts with Customers” and ASC 610, “Other Income–Gains and Losses from the Derecognition of Nonfinancial Assets,” we did not recognize the sale of assets to Pillarstone OP in the Contribution (as defined in Note 5) and accounted for the transaction under the profit-sharing method for the year ended December 31, 2017. We recognized Pillarstone OP’s real estate assets and notes payables in our consolidated balance sheets. Additionally, the profits and losses of Pillarstone OP not attributable to the Company are reported as profit sharing expense. As a result of the adoption of Topic 606 and ASC 610, the Company derecognized the underlying assets and liabilities associated with the Contribution as of January 1, 2018 and recognized the Company’s investment in Pillarstone OP under the equity method. Equity Method. For the years prior to December 31, 2017, Pillarstone OP was accounted for under the profit-sharing method. We adopted Topic 606 and ASC 610 as of January 1, 2018, resulting in the derecognition of the underlying assets and liabilities associated with the Contribution (defined in Note 5) as of January 1, 2018 and the recognition of the Company’s investment in Pillarstone OP under the equity method. See Note 5 for additional disclosure on Pillarstone OP. As of December 31, 2020, we, through our investment in Pillarstone OP, owned a majority interest in eight properties that do not meet our Community Centered Property® strategy containing approximately 0.9 million square feet of GLA. We own 81.4% of the total outstanding units of Pillarstone OP. We also manage the day-to-day operations of Pillarstone OP. In this Annual Report on Form 10-K, unless otherwise indicated, we do not include the Pillarstone Properties when we refer to our properties. Basis of Accounting. Our financial records are maintained on the accrual basis of accounting whereby revenues are recognized when earned and expenses are recorded when incurred. Use of Estimates. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates that we use include the estimated fair values of properties acquired, the estimated useful lives for depreciable and amortizable assets and costs, the grant date fair value of common share units included in share-based compensation expense, the estimated allowance for doubtful accounts, the estimated fair value of interest rate swaps and the estimates supporting our impairment analysis for the carrying values of our real estate assets. Actual results could differ from those estimates. In particular, the COVID-19 pandemic has adversely impacted and is likely to further adversely impact the Company’s business and markets, including the Company’s operations and the operations of its tenants. The full extent to which the pandemic will directly or indirectly impact the Company's business, results of operations and financial condition, including revenues, expenses, reserves and allowances, fair value measurements, and asset impairment charges, will depend on future developments that are highly uncertain and difficult to predict. These developments include, but are not limited to, the duration and spread of the pandemic, its severity in our markets and elsewhere, the impact on our tenants’ businesses and financial condition, governmental actions to contain the spread of the pandemic and respond to the reduction in global economic activity, and how quickly and to what extent normal economic and operating conditions can resume. Reclassifications. We have reclassified certain prior year amounts in the accompanying consolidated financial statements in order to be consistent with the current fiscal year presentation. Other than the effects noted below, these reclassifications had no effect on net income, total assets, total liabilities or equity. Restricted Cash. We classify all cash pledged as collateral to secure certain obligations and all cash whose use is limited as restricted cash. During 2015, pursuant to the terms of our $15.1 million 4.99% Note, due January 6, 2024, which is collateralized by our Anthem Marketplace property, we were required by the lenders thereunder to establish a cash management account controlled by the lenders to collect all amounts generated by our Anthem Marketplace property in order to collateralize such promissory note. Share-Based Compensation. From time to time, we award nonvested restricted common share awards or restricted common share unit awards, which may be converted into common shares, to executive officers and employees under our 2018 Long-Term Equity Incentive Ownership Plan (the “2018 Plan”). Awarded shares and units vest when certain performance conditions are met. We recognize compensation expense when achievement of the performance conditions is probable based on management’s most recent estimates using the fair value of the shares as of the grant date. We recognized $6.1 million, $6.5 million and $6.8 million in share-based compensation expense for the years ended December 31, 2020, 2019 and 2018, respectively. At our annual meeting of shareholders on May 11, 2017, our shareholders voted to approve the 2018 Plan. The 2018 Plan provides for the issuance of up to 3,433,831 common shares and OP units pursuant to awards under the 2018 Plan. The 2018 Plan became effective on July 30, 2018, which was the day after the 2008 Plan expired. Noncontrolling Interests. Noncontrolling interests are the portion of equity in a subsidiary not attributable to a parent. The ownership interests not held by the parent are considered noncontrolling interests. Accordingly, we have reported noncontrolling interests in equity on the consolidated balance sheets but separate from Whitestone’s equity. On the consolidated statements of operations and comprehensive income (loss), subsidiaries are reported at the consolidated amount, including both the amount attributable to Whitestone and noncontrolling interests. Consolidated statements of changes in equity are included for both quarterly and annual financial statements, including beginning balances, activity for the period and ending balances for shareholders’ equity, noncontrolling interests and total equity. Revenue Recognition. All leases on our properties are classified as operating leases, and the related rental income is recognized on a straight-line basis over the terms of the related leases. Differences between rental income earned and amounts due per the respective lease agreements are capitalized or charged, as applicable, to accrued rents and accounts receivable. Percentage rents are recognized as rental income when the thresholds upon which they are based have been met. Recoveries from tenants for taxes, insurance, and other operating expenses are recognized as revenues in the period the corresponding costs are incurred. We combine lease and nonlease components in lease contracts, which includes combining base rent, recoveries, and percentage rents into a single line item, Rental , within the consolidated statements of operations and comprehensive income (loss). Additionally, we have tenants who pay real estate taxes directly to the taxing authority. We exclude these costs paid directly by the tenant to third parties on our behalf from revenue recognized and the associated property operating expense. Other property income primarily includes amounts recorded in connection with management fees and lease termination fees. Pillarstone OP pays us management fees for property management, leasing and day-to-day advisory and administrative services. Their obligations are satisfied over time. Pillarstone OP is billed monthly and typically pays quarterly. Revenues are governed by the Management Agreements (as defined in Note 5). Refer to Note 5 to our accompanying consolidated financial statements for additional information regarding the Management Agreements with Pillarstone OP. Additionally, we recognize lease termination fees in the year that the lease is terminated and collection of the fee is probable. Amounts recorded within other property income are accounted for at the point in time when control of the goods or services transfers to the customer and our performance obligation is satisfied. Cash and Cash Equivalents. We consider all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents as of December 31, 2020 and 2019 consisted of demand deposits at commercial banks and brokerage accounts. We may have net book credit balances in our primary disbursement accounts at the end of a reporting period. We classify such credit balances as accounts payable in our consolidated balance sheets as checks presented for payment to these accounts are not payable by our banks under overdraft arrangements, and, therefore, do not represent short-term borrowings. Marketable Securities. We classify our existing marketable equity securities as available-for-sale in accordance with the Financial Accounting Standards Board’s (“FASB”) Investments-Debt and Equity Securities guidance. These securities are carried at fair value with unrealized gains and losses reported in equity as a component of accumulated other comprehensive income or loss. The fair value of the marketable securities is determined using Level 1 inputs under FASB Accounting Standards Codification (“ASC”) 820, “ Fair Value Measurements and Disclosures.” Level 1 inputs represent quoted prices available in an active market for identical investments as of the reporting date. Gains and losses on securities sold are based on the specific identification method, and are reported as a component of interest, dividend and other investment income. Real Estate Development Properties. Land, buildings and improvements are recorded at cost. Expenditures related to the development of real estate are carried at cost which includes capitalized carrying charges and development costs. Carrying charges (interest, real estate taxes, loan fees, and direct and indirect development costs related to buildings under construction) are capitalized as part of construction in progress. The capitalization of such costs ceases when the property, or any completed portion, becomes available for occupancy. For the year ended December 31, 2020, approximately $481,000 and $306,000 in interest expense and real estate taxes, respectively, were capitalized. For the year ended December 31, 2019, approximately $500,000 and $320,000 in interest expense and real estate taxes, respectively, were capitalized. For the year ended December 31, 2018, approximately $574,000 and $365,000 in interest expense and real estate taxes, respectively, were capitalized. Due to the COVID-19 pandemic, we have taken a prudent pause in acquisitions activity and are carefully evaluating development and redevelopment activities on a case-by-case basis. Acquired Properties and Acquired Lease Intangibles. We allocate the purchase price of the acquired properties to land, building and improvements, identifiable intangible assets and to the acquired liabilities based on their respective fair values at the time of purchase. Identifiable intangibles include amounts allocated to acquired out-of-market leases, the value of in-place leases and customer relationship value, if any. We determine fair value based on estimated cash flow projections that utilize appropriate discount and capitalization rates and available market information. Estimates of future cash flows are based on a number of factors including the historical operating results, known trends and specific market and economic conditions that may affect the property. Factors considered by management in our analysis of determining the as-if-vacant property value include an estimate of carrying costs during the expected lease-up periods considering market conditions, and costs to execute similar leases. In estimating carrying costs, management includes real estate taxes, insurance and estimates of lost rentals at market rates during the expected lease-up periods, tenant demand and other economic conditions. Management also estimates costs to execute similar leases including leasing commissions, tenant improvements, legal and other related expenses. Intangibles related to out-of-market leases and in-place lease value are recorded as acquired lease intangibles and are amortized as an adjustment to rental revenue or amortization expense, as appropriate, over the remaining terms of the underlying leases. Premiums or discounts on acquired out-of-market debt are amortized to interest expense over the remaining term of such debt. Depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of 5 to 39 years for improvements and buildings, respectively. Tenant improvements are depreciated using the straight-line method over the life of the improvement or remaining term of the lease, whichever is shorter. Impairment. We review our properties for impairment at least annually or whenever events or changes in circumstances indicate that the carrying amount of the assets, including accrued rental income, may not be recoverable through operations. We determine whether an impairment in value has occurred by comparing the estimated future cash flows (undiscounted and without interest charges), including the estimated residual value of the property, with the carrying cost of the property. If impairment is indicated, a loss will be recorded for the amount by which the carrying value of the property exceeds its fair value. Management has determined that there has been no impairment in the carrying value of our real estate assets as of December 31, 2020. Accrued Rents and Accounts Receivable. Included in accrued rents and accounts receivable are base rents, tenant reimbursements and receivables attributable to recording rents on a straight-line basis. We review the collectability of charges under our tenant operating leases on a regular basis, taking into consideration changes in factors such as the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area where the property is located including the impact of the COVID-19 pandemic on tenants’ businesses and financial condition . With the adoption of ASC No. 842, Leases (“Topic 842”), as of January 1, 2019 we recognize an adjustment to rental revenue if we deem it probable that the receivable will not be collected. Prior to the adoption of Topic 842, we recognized an allowance for doubtful accounts and bad debt expense of the specific rents receivable. Our review of collectability under our operating leases includes any accrued rental revenues related to the straight-line method of reporting rental revenue. As of December 31, 2020 and 2019, we had an allowance for uncollectible accounts of $16.4 million and $11.2 million, respectively. For the years ending December 31, 2020 and 2019, we recorded an adjustment to rental revenue in the amount of $5.6 million and $1.5 million, respectively. Included in the adjustment to rental revenue for the year ending December 31, 2020, was a bad debt adjustment of $2.3 million and a straight-line rent reserve adjustment of $1.2 million related to credit loss for the conversion of 102 tenants to cash basis revenue as a result of COVID-19 collectability analysis. For the year ending December 31, 2018, we recorded bad debt expense in the amount of $1.4 million. Unamortized Lease Commissions and Loan Costs. Leasing commissions are amortized using the straight-line method over the terms of the related lease agreements. Loan costs are amortized on the straight-line method over the terms of the loans, which approximates the interest method. Costs allocated to in-place leases whose terms differ from market terms related to acquired properties are amortized over the remaining life of the respective leases. Prepaids and Other Assets. Prepaids and other assets include escrows established pursuant to certain mortgage financing arrangements for real estate taxes and insurance and acquisition deposits which include earnest money deposits on future acquisitions. Federal Income Taxes. We elected to be taxed as a REIT under the Code beginning with our taxable year ended December 31, 1999. As a REIT, we generally are not subject to federal income tax on income that we distribute to our shareholders. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income tax on our taxable income at regular corporate rates. We believe that we are organized and operate in such a manner as to qualify to be taxed as a REIT, and we intend to operate so as to remain qualified as a REIT for federal income tax purposes. State Taxes. We are subject to the Texas Margin Tax, which is computed by applying the applicable tax rate (1% for us) to the profit margin, which, generally, will be determined for us as total revenue less a 30% standard deduction. Although the Texas Margin Tax is not considered an income tax, FASB ASC 740, “Income Taxes” (“ASC 740”) applies to the Texas Margin Tax. As of December 31, 2020, 2019 and 2018, we recorded a margin tax provision of $0.4 million, $0.4 million and $0.4 million, respectively. Fair Value of Financial Instruments. Our financial instruments consist primarily of cash, cash equivalents, accounts receivable, accounts and notes payable and investments in marketable securities. The carrying value of cash, cash equivalents, accounts receivable and accounts payable are representative of their respective fair values due to their short-term nature. The fair value of our long-term debt, consisting of fixed rate secured notes, variable rate secured notes and an unsecured revolving credit facility aggregate to approximately $646.4 million and $653.7 million as compared to the book value of approximately $645.2 million and $645.9 million as of December 31, 2020 and 2019, respectively. The fair value of our long-term debt is estimated on a Level 2 basis (as provided by ASC 820, “Fair Value Measurements and Disclosures ” (“ASC 820”)), using a discounted cash flow analysis based on the borrowing rates currently available to us for loans with similar terms and maturities, discounting the future contractual interest and principal payments. The fair value of our loan guarantee to Pillarstone OP is estimated on a Level 3 basis (as provided by ASC 820, “ Fair Value Measurements and Disclosures” ), using a probability-weighted discounted cash flow analysis based on a discount rate, discounting the loan balance. The fair value of the loan guarantee is $0.1 million and $0.1 million as compared to the book value of approximately $0.1 million and $0.1 million as of December 31, 2020 and 2019, respectively. Disclosure about fair value of financial instruments is based on pertinent information available to management as of December 31, 2020 and 2019. Although management is not aware of any factors that would significantly affect the fair value amounts, such amounts have not been comprehensively revalued for purposes of these financial statements since December 31, 2020 and current estimates of fair value may differ significantly from the amounts presented herein. Derivative Instruments and Hedging Activities. We utilize derivative financial instruments, principally interest rate swaps, to manage our exposure to fluctuations in interest rates. We have established policies and procedures for risk assessment, and the approval, reporting and monitoring of derivative financial instruments. We recognize our interest rate swaps as cash flow hedges with the effective portion of the changes in fair value recorded in comprehensive income (loss) and subsequently reclassified into earnings in the period that the hedged transaction affects earnings. Any ineffective portion of a cash flow hedge’s change in fair value is recorded immediately into earnings. Our cash flow hedges are determined using Level 2 inputs under ASC 820. Level 2 inputs represent quoted prices in active markets for similar assets or liabilities; quoted prices in markets that are not active; and model-derived valuations whose inputs are observable. As of December 31, 2020, we consider our cash flow hedges to be highly effective. Concentration of Risk. Substantially all of our revenues are obtained from office and retail locations in the Austin, Chicago, Dallas-Fort Worth, Houston, Phoenix and San Antonio metropolitan areas. We maintain cash accounts in major U.S. financial institutions. The terms of these deposits are on demand to minimize risk. The balances of these accounts sometimes exceed the federally insured limits, although no losses have been incurred in connection with these deposits. Recent Accounting Pronouncements. In April 2020, the FASB issued guidance on the application of Topic 842, relating to concessions being made by lessors in response to the COVID-19 pandemic. The guidance notes that it would be acceptable for entities to make an election to account for lease concessions relating to the effects of the COVID-19 pandemic consistent with how those concessions would be accounted for under Topic 842 as though enforceable rights and obligations for those concessions existed, even if such enforceable rights and obligations are not explicitly contained in the lease contract. Thus, for concessions relating to the COVID-19 pandemic, an entity would not have to analyze each contract to determine whether enforceable rights and obligations for concessions exist in the contract, and would have the option to apply, or not to apply, the general lease modification guidance in Topic 842 as it stands. We have elected this option to account for lease concessions relating to the effects of the COVID-19 pandemic consistent with how those concessions would be accounted for under Topic 842 as though enforceable rights and obligations for those concessions existed. Therefore, such concessions are not accounted for as a lease modification under Topic 842. In May 2014, the FASB issued guidance, as amended in subsequent updates, establishing a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and superseded most of the existing revenue recognition guidance. The standard also required an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also required certain additional disclosures. This guidance became effective for the reporting periods beginning on or after December 15, 2017, and interim periods within those fiscal years. We adopted this guidance on a modified retrospective basis beginning January 1, 2018 and have derecognized the underlying assets and liabilities associated with the Contribution as of January 1, 2018 and have recognized the Company’s investment in Pillarstone OP under the equity method of accounting. The Company made an adjustment which decreased the Company’s accumulated deficit as of January 1, 2018 by $19.1 million. See Note 5 for further details. In February 2016, FASB issued ASU No. 2016-2 which provided the principles for the recognition, measurement, presentation and disclosure of leases. Additional guidance and targeted improvements to Topic 842 were made through the issuance of supplementary ASUs in July 2018, December 2018 and March 2019. Effective January 1, 2019, we adopted the new lease accounting guidance in Topic 842. As the lessee and lessor, we have elected the package of practical expedients permitted in Topic 842. Accordingly, we have accounted for our existing operating leases as operating leases under the new guidance, without reassessing (a) whether the contract contains a lease under Topic 842, (b) whether classification of the operating lease would be different in accordance with Topic 842, or (c) whether the unamortized initial direct costs before transition adjustments (as of December 31, 2018) would have met the definition of initial direct costs in Topic 842 at lease commencement. Additionally, as the lessee and lessor we will use hindsight in determining the lease term and in assessing impairment of our right-of-use assets. As a result of the adoption of the new lease accounting guidance, as the lessee, we recognized on January 1, 2019 (a) a lease liability of approximately $1.1 million, which represents the present value of the remaining lease payments of approximately $1.2 million discounted using our incremental borrowing rate of 4.5%, and (b) a right-of-use asset of approximately $1.1 million. The adoption of Topic 842 did not have a material impact to our net income and related per share amounts. Upon adoption of Topic 842, lessees and lessors are required to apply a modified retrospective transition approach. Reporting entities are permitted to choose one of two methods to recognize and measure leases within the scope of Topic 842: • Apply Topic 842 to each lease that existed at the beginning of the earliest comparative period presented in the financial statements as well as leases that commenced after that date. Under this method, prior comparative periods presented are adjusted. For leases that commenced prior to the beginning of the earliest comparative period presented, a cumulative-effect adjustment is recognized at that date. • Apply the guidance to each lease that had commenced as of the beginning of the reporting period in which the entity first applies the lease standard with a cumulative-effect adjustment as of that date. Prior comparative periods would not be adjusted under this method. We have elected an optional transition method that allows entities to initially apply Topic 842 at January 1, 2019, the date of adoption, and to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. As the lessor, we have not assessed unamortized legal costs as part of the package of practical expedients, and we will not make any adjustment to retained earnings at the date of adoption to write off unamortized legal costs. We will continue to amortize unamortized legal costs as of December 31, 2018 over the life of the respective leases. We did not have a cumulative-effect adjustment as of the adoption date. Additionally, the optional transition method does allow us to not have to apply the new standard (including disclosure requirements) to comparative periods presented. Those periods can continue to be presented in accordance with prior generally accepted accounting principles. Topic 842 requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases and operating leases. Based on our election of the package of practical expedients, our existing commercial leases, where we are the lessor, continue to be accounted for as operating leases under the new standard. However, Topic 842 changed certain requirements regarding the classification of leases that could result in us recognizing certain long-term leases entered into or modified after January 1, 2019 as sales-type leases or finance leases, as opposed to operating leases. We will continue to monitor our leases following the adoption date to ensure that they are classified in accordance with the new lease standards. We elected a practical expedient which allows lessors to not separate non-lease components from the lease component when the timing and pattern of transfer for the lease components and non-lease components are the same and if the lease component is classified as an operating lease. As a result, we now present all rentals and reimbursements from tenants as a single line item, Rental , within the consolidated statements of operations and comprehensive income (loss). We review the collectability of charges under our tenant operating leases on a regular basis, taking into consideration changes in factors such as the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area where the property is located, including the impact of the COVID-19 pandemic on tenants’ businesses and financial condition. Each tenant is included in one of several portfolios and an allowance is calculated using the calculation methodology for the respective portfolio. With the adoption of Topic 842, we will recognize an adjustment to rental revenue if we deem it probable that the receivable will not be collected. Prior to the adoption of Topic 842, we recognized an allowance for doubtful accounts and bad debt expense of the specific rents receivable. Our review of collectability under our operating leases includes any accrued rental revenues related to the straight-line method of reporting rental revenue. In November 2016, the FASB issued guidance requiring that the statement of cash flows explain the change during the period in the total cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This guidance became effective for the reporting periods beginning on or after December 15, 2017, and interim periods within those fiscal years. We adopted this guidance effective January 1, 2018, and we have reconciled cash and cash equivalents and restricted cash and restricted cash equivalents on a retrospective basis, whereas under the previous guidance, we reported restricted cash and restricted cash equivalents under cash flows from financing activities. In January 2017, the FASB issued guidance clarifying the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or dispositions) of assets or businesses. This guidance became effective for the reporting periods beginning on or after December 15, 2017, and interim periods within those fiscal years. We adopted this guidance on a prospective basis beginning January 1, 2018 and believe the majority of our future acquisitions will qualify as asset acquisitions and the associated transaction costs will be capitalized as opposed to expensed under previous guidance. For the year ending December 31, 2019, we capitalized $0.1 million in associated transaction costs. In February 2017, the FASB issued guidance clarifying the scope of asset derecognition guidance, adding guidance for partial sales of nonfinancial assets and clarifying recognizing gains an

Marketable Securities

Marketable Securities	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	MARKETABLE SECURITIES In January 2018, we sold all of our remaining marketable securities and had no marketable securities as of December 31, 2020.

Real Estate

Real Estate	12 Months Ended
	Dec. 31, 2020
Real Estate [Abstract]
Real Estate	REAL ESTATE As of December 31, 2020, we owned 58 commercial properties in the Austin, Chicago, Dallas-Fort Worth, Houston, Phoenix and San Antonio areas comprised of approximately 5.0 million square feet of gross leasable area (“GLA”). Five of the 58 commercial properties are land parcels held for future development. Property Acquisitions. On December 6, 2019, we acquired Las Colinas Village, a property that meets our Community Centered Property ® strategy, for $34.8 million in cash and net prorations. Las Colinas Village, a 104,919 square foot property, was 86% leased at the time of purchase and is located in Irving, Texas. Unaudited pro forma results of operations. The following unaudited pro forma results summarized below reflect our consolidated results of operations as if our acquisitions for the years ended December 31, 2020, 2019 and 2018 were acquired on January 1, 2018. The unaudited consolidated pro forma results of operations is not necessarily indicative of what the actual results of operations would have been, assuming the transactions had been completed as set forth above, nor do they purport to represent our results of operations for future periods. Year Ended December 31, (in thousands, except per share data) 2020 2019 2018 Total revenues $ 117,915 $ 122,286 $ 123,243 Net income $ 6,151 $ 24,047 $ 21,876 Net income attributable to Whitestone REIT (1) $ 6,034 $ 23,502 $ 21,326 Basic Earnings Per Share: $ 0.14 $ 0.58 $ 0.54 Diluted Earnings Per Share: $ 0.14 $ 0.57 $ 0.52 Weighted-average common shares outstanding: Basic (2) 42,244 40,184 39,274 Diluted (2) 42,990 41,462 40,612 (1) Net income attributable to Whitestone REIT reflects historical ownership percentages and does not reflect the effects of the April 2017 Offering (as defined in Note 14), assuming the sale of the common shares took place on January 1, 2017, as the related impact on ownership percentage is minimal. (2) Pro forma weighted averages reflect the April 2017 Offering, assuming the sale of the common shares took place on January 1, 2017. Acquisition costs. Acquisition-related costs of $0.0 million and $0.1 million are capitalized in real estate assets in our balance sheets for the years ended December 31, 2020 and 2019, respectively. No acquisition-related costs are included in general and administrative expenses in our statements of operations and comprehensive income (loss) for the year ended 2018. Development properties. As of December 31, 2019, we had substantially completed construction at our Anthem Marketplace Phase II property. As of December 31, 2019, we had incurred approximately $1.4 million in construction costs. The 6,853 square foot Community Centered Property ® was 100% occupied as of December 31, 2019 and is located in Phoenix, Arizona, and adjacent to Anthem Marketplace. As of December 31, 2018, we had substantially completed construction at our Pinnacle of Scottsdale Phase II property. As of December 31, 2018, we had incurred approximately $5.5 million in construction costs, including approximately $0.6 million in previously capitalized interest and real estate taxes. The 27,063 square foot Community Centered Property ® was 100% leased at December 31, 2018 and is located in Scottsdale, Arizona, adjacent to Pinnacle of Scottsdale. As of December 31, 2018, we had substantially completed construction at our Shops at Starwood Phase III property. As of December 31, 2018, we had incurred approximately $8.4 million in construction costs, including approximately $1.1 million in previously capitalized interest and real estate taxes. The 35,351 square foot Community Centered Property ® was 72% leased at December 31, 2018 and is located in Frisco, Texas, a northern suburb of Dallas, Texas, adjacent to Shops at Starwood. Property dispositions. On September 24, 2018, we completed the sale of Torrey Square, located in Houston, Texas, for $8.7 million. We recorded a gain on sale of $4.4 million. We have not included Torrey Square in discontinued operations as it did not meet the definition of discontinued operations. On February 27, 2018, we completed the sale of Bellnott Square, located in Houston, Texas, for $4.7 million. We recorded a gain on sale of $0.3 million. We have not included Bellnott Square in discontinued operations as it did not meet the definition of discontinued operations. On November 15, 2019, we received a $0.8 million principal payment in connection with the sale of two retail buildings we completed on November 29, 2016. We recorded a gain on sale of $0.8 million. In 2016, we provided seller-financing for the retail buildings, Webster Pointe and Centre South, and deferred a $1.7 million gain until principal payments on the seller-financed loan are received. The purchaser of the retail buildings sold Webster Pointe on November 15, 2019 and paid the entire principal balance of the loan related to the property. We have not included the gain in discontinued operations as it did not meet the definition of discontinued operations at the date of the sale. On April 24, 2019, we received a $0.7 million principal payment in connection with the sale of three office buildings we completed on December 31, 2014. We recorded a gain on sale of $0.7 million. In 2014, we provided seller-financing for the office buildings, Zeta, Royal Crest and Featherwood, and deferred a $2.5 million gain until principal payments on the seller-financed loan are received. The purchaser of the office buildings sold Zeta on April 24, 2019 and paid the entire principal balance of the loan related to the property. We have included the gain in discontinued operations as it did meet the definition of discontinued operations at the date of sale. On October 23, 2020, we received a $0.5 million principal payment in connection with the Centre South seller-financed retail building mentioned above. We recorded a $0.5 million gain when the principal payment on the seller-financed loan was received. We have not included the gain in discontinued operations as it did not meet the definition of discontinued operations at the date of the sale.

Investment in Real Estate Partn

Investment in Real Estate Partnership	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Investment in Real Estate Partnership	INVESTMENT IN REAL ESTATE PARTNERSHIP On December 8, 2016, we, through our Operating Partnership, entered into a Contribution Agreement (the “Contribution Agreement”) with Pillarstone OP and Pillarstone Capital REIT (“Pillarstone REIT”) pursuant to which we contributed all of the equity interests in four of our wholly-owned subsidiaries: Whitestone CP Woodland Ph. 2, LLC, a Delaware limited liability company (“CP Woodland”); Whitestone Industrial-Office, LLC, a Texas limited liability company (“Industrial-Office”); Whitestone Offices, LLC, a Texas limited liability company (“Whitestone Offices”); and Whitestone Uptown Tower, LLC, a Delaware limited liability company (“Uptown Tower,” and together with CP Woodland, Industrial-Office and Whitestone Offices, the “Entities”) that own 14 non-core properties that did not fit our Community Centered Property ® strategy (the “Pillarstone Properties”), to Pillarstone OP for aggregate consideration of approximately $84 million, consisting of (1) approximately $18.1 million of Class A units representing limited partnership interests in Pillarstone OP (“Pillarstone OP Units”), issued at a price of $1.331 per Pillarstone OP Unit; and (2) the assumption of approximately $65.9 million of liabilities, consisting of (a) approximately $15.5 million of our liability under the 2018 Facility (as defined in Note 9); (b) an approximately $16.3 million promissory note of Uptown Tower under the Loan Agreement, dated as of September 26, 2013, between Uptown Tower, as borrower, and U.S. Bank, National Association, as successor to Morgan Stanley Mortgage Capital Holdings LLC, as lender; and (c) an approximately $34.1 million promissory note (the “Industrial-Office Promissory Note”) of Industrial-Office issued under the Loan Agreement, dated as of November 26, 2013 (the “Industrial-Office Loan Agreement”), between Industrial-Office, as borrower, and Jackson National Life Insurance Company, as lender (collectively, the “Contribution”). In connection with the Contribution, (1) with respect to each Pillarstone Property (other than Uptown Tower), Whitestone TRS, Inc., a subsidiary of the Company (“Whitestone TRS”), entered into a Management Agreement with the Entity that owns such Pillarstone Property and (2) with respect to Uptown Tower, Whitestone TRS entered into a Management Agreement with Pillarstone OP (collectively, the “Management Agreements”). Pursuant to the Management Agreements with respect to each Pillarstone Property (other than Uptown Tower), Whitestone TRS agreed to provide certain property management, leasing and day-to-day advisory and administrative services to such Pillarstone Property in exchange for (x) a monthly property management fee equal to 5.0% of the monthly revenues of such Pillarstone Property and (y) a monthly asset management fee equal to 0.125% of GAV (as defined in each Management Agreement as, generally, the purchase price of the respective Pillarstone Property based upon the purchase price allocations determined pursuant to the Contribution Agreement, excluding all indebtedness, liabilities or claims of any nature) of such Pillarstone Property. Pursuant to the Management Agreement with respect to Uptown Tower, Whitestone TRS agreed to provide certain property management, leasing and day-to-day advisory and administrative services to Pillarstone OP in exchange for (x) a monthly property management fee equal to 3.0% of the monthly revenues of Uptown Tower and (y) a monthly asset management fee equal to 0.125% of GAV of Uptown Tower. The initial term of each Management Agreement expired on December 31, 2017, after which each Management Agreement became automatically renewable on a month to month basis; provided that each Management Agreement can be terminated by either party thereto upon not less than thirty days’ prior written notice to the other party. None of the Management Agreements had been terminated as of December 31, 2020. In connection with the Contribution, on December 8, 2016, the Operating Partnership entered into a Tax Protection Agreement with Pillarstone REIT and Pillarstone OP pursuant to which Pillarstone OP agreed to indemnify the Operating Partnership for certain tax liabilities resulting from its recognition of income or gain prior to December 8, 2021 if such liabilities result from a transaction involving a direct or indirect taxable disposition of all or a portion of the Pillarstone Properties or if Pillarstone OP fails to maintain and allocate to the Operating Partnership for taxation purposes minimum levels of liabilities as specified in the Tax Protection Agreement, the result of which causes such recognition of income or gain and the Company incurs taxes that must be paid to maintain its REIT status for federal income tax purposes. As of December 31, 2020, we owned approximately 81.4% of the total outstanding units of Pillarstone OP. Additionally, certain of our officers and trustees serve as officers and trustees of Pillarstone REIT. In connection with the Contribution, in December 2016, we determined that we were the primary beneficiary of Pillarstone OP, through our power to direct the activities of Pillarstone OP, additional working capital required by Pillarstone OP under an OP Unit purchase agreement and our obligation to absorb losses and receive benefits based on our ownership percentage. Accordingly, we accounted for Pillarstone OP as a VIE and fully consolidated it in our consolidated financial statements for the year ended December 31, 2016 and in the subsequent periods. In November 2017, we received a comment letter from the Staff of the Division of Corporation Finance of the SEC (the “Staff”) relating to our Annual Report on Form 10-K for the year ended December 31, 2016. In their letter, the Staff requested that we provide them with an analysis to support our determination that Pillarstone OP is a VIE of which we are the primary beneficiary and that Pillarstone OP should be consolidated in our financial statements in accordance with GAAP. In response to the Staff’s comment, we provided the Staff with our analysis of our accounting and financial reporting obligations relating to our interest in Pillarstone OP. After communicating our analysis and conclusions to the Staff and responding to additional questions from the Staff relating to this matter, the Staff did not object to or otherwise take exception to our initial determinations at the time of the consummation of the Contribution in December 2016 but provided a verbal reminder that the determination of the primary beneficiary of a VIE should be continually reassessed, noting that the initial terms of the Management Agreements expired in December 2017, and suggesting that we consider pre-clearing future accounting treatment of Pillarstone OP with the Staff of the Office of the Chief Accountant (“OCA”). In connection with the preparation and review of the Company’s financial statements for the quarter ended March 31, 2018, the Company concluded, after consultation with the Company’s outside advisors, that it would be prudent to seek the pre-clearance from the Staff of the SEC’s Office of the Chief Accountant (“OCA”) of the proposed treatment of Pillarstone OP in the Company’s financial statements for such quarter. Accordingly, in April 2018, the Company submitted a letter to the OCA seeking their concurrence with the Company’s determinations that it maintained its status as the primary beneficiary of Pillarstone OP and, accordingly, should continue to consolidate Pillarstone OP in its financial statements for the quarter ended March 31, 2018 in accordance with GAAP. After further correspondence, including telephonic meetings between the Company, its advisors and the OCA, the OCA informed the Company that it objected to the conclusions that the Company was the primary beneficiary of Pillarstone OP and was required to consolidate it in the Company’s financial statements since the Contribution in December 2016 and during the subsequent periods. After consideration of the OCA’s objection to the Company’s original accounting, the Company determined that the correct accounting treatment was to apply certain industry specific accounting guidance applicable to real estate transactions, ASC 360-20, the profit sharing method, which required the Company to continue to recognize the underlying assets and liabilities associated with the Contribution in the Company’s financial statements, and revised its accounting treatment accordingly. Management evaluated the quantitative and qualitative materiality of the errors and concluded that the difference between applying ASC 360-20 and the consolidation of Pillarstone OP under the VIE guidance was not material to the financial statements of any period presented through December 31, 2017. As a result, the Company elected to correct them in future financial statements, beginning with the consolidated financial statements as and for the period ended June 30, 2018 and in the accompanying prior period consolidated financial statements included in the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2018. On January 1, 2018, the Company adopted ASU 2014-09 (“Topic 606”), as subsequently amended, using the modified retrospective method and applied Topic 606 to those contracts that were not completed as of January 1, 2018. Topic 606 added a new section, ASC 610, “ Other Income-Gains and Losses from the Derecognition of Nonfinancial Assets ,” which effectively superseded industry specific accounting guidance applicable to real estate transactions. As a result of the adoption of Topic 606 and ASC 610, the Company derecognized the underlying assets and liabilities associated with the Contribution as of January 1, 2018 and recognized the Company’s investment in Pillarstone OP under the equity method for the periods after December 31, 2017. The table below presents the real estate partnership investment in which the Company held an ownership interest (in thousands): The Company’s Investment as of December 31, 2020 2019 Real estate partnership Ownership Interest Pillarstone OP (1)(2) 81.4% $ 33,979 $ 34,097 Total real estate partnership (3) $ 33,979 $ 34,097 (1) The Company manages these real estate partnership investments and, where applicable, earns acquisition fees, leasing commissions, property management fees, and asset management fees. (2) As of December 31, 2017, the Company had a net deferred gain of $18.0 million relating to the sale of properties to Pillarstone OP prior to the adoption of ASU 2017-05. These deferred gains were included in the Company’s investment above. Upon adoption, the Company recorded a cumulative-effect adjustment of $19.1 million to its beginning accumulated deficit as of January 1, 2018 on the Company’s Consolidated Statements of Changes in Equity. (3) Representing eight property interests and 0.9 million square feet of GLA, as of December 31, 2020 and 2019. On October 8, 2019, Pillarstone OP, through an indirect wholly owned subsidiary, Whitestone Industrial-Office, LLC, sold a portfolio of three properties in Houston, Texas to an unaffiliated third party for $39.7 million in cash. Pillarstone OP used the net proceeds to make a large distribution to Whitestone of $5.4 million after customary closing deductions, to pay off mortgage debt on the three properties, and pay off the remaining $5.7 million of its $15.5 million loan from Whitestone. Included in 2019 equity in earnings from real estate partnership is a $13.8 million gain related to this sale. On December 27, 2018, Pillarstone OP, through an indirect wholly owned subsidiary, Whitestone Industrial-Office, LLC, sold a portfolio of three properties in Houston, Texas to an unaffiliated third party for $15.8 million in cash. Pillarstone OP used the net proceeds, after customary closing deductions, to pay off mortgage debt on the three properties, and repay $8.0 million of its $14.5 million loan from Whitestone. Included in 2018 equity in earnings from real estate partnership is a $6.3 million gain related to this sale. The table below presents the Company’s share of net income from its investment in the real estate partnership which is included in equity in earnings of real estate partnership, net on the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) (in thousands): Year Ended December 31, 2020 2019 2018 Pillarstone OP $ 921 $ 15,076 $ 8,431 Summarized financial information for the Company’s investment in real estate partnership is as follows (in thousands): December 31, 2020 2019 Assets: Real estate, net $ 49,113 $ 50,338 Other assets 7,657 6,742 Total assets 56,770 57,080 Liabilities and equity: Notes payable 15,185 15,434 Other liabilities 3,533 3,575 Equity 38,052 38,071 Total liabilities and equity 56,770 57,080 Company’s share of equity 30,992 31,008 Cost of investment in excess of the Company’s share of underlying net book value 2,987 3,089 Carrying value of investment in real estate partnership $ 33,979 $ 34,097 Year Ended December 31, 2020 2019 2018 Rental revenues $ 9,672 $ 14,253 $ 17,180 Property expenses (6,858) (9,045) (6,687) Other expenses (1,440) (3,449) (7,848) Gain (loss) on sale of properties or disposal of assets (112) 16,943 7,839 Net income $ 1,262 $ 18,702 $ 10,484 The amortization of the basis difference between the cost of investment and the Company's share of underling net book value for both years ended December 31, 2020 and 2019 was $108,000. The Company amortized the difference into equity in earnings of real estate partnership on the consolidated statements of operations and comprehensive income (loss). As a result of the adoption of Topic 606 and ASC 610, the Company recognized the Company’s investment in Pillarstone OP under the equity method for the years ended December 31, 2020, 2019 and 2018. The Company's maximum exposure to loss relating to Pillarstone OP is limited to its investment in Pillarstone OP and its guarantee of promissory notes issued to Pillarstone OP. Since the date of the Contribution, the Company has not provided financial support to Pillarstone OP that it was not previously contractually required to provide under the Management Agreements. The Company has evaluated its guarantee to Pillarstone OP pursuant to ASC 460, Guarantees , and has determined the guarantee to be a performance guarantee, for which ASC 460 contains initial recognition and measurement requirements, and related disclosure requirements. The Company is obligated in two respects: (i) a noncontingent liability, which represents the Company’s obligation to stand ready to perform under the terms of the guarantee in the event that the specified triggering event(s) occur; and (ii) the contingent liability, which represents the Company’s obligation to make future payments if those triggering events occur. The Company recognized a noncontingent liability of $462,000 at the inception of the guarantee at fair value and is recorded on the the Company’s consolidated balance sheet as a liability. The Company amortizes the guarantee liability into income over seven years. For the years ended December 31, 2020, 2019, and 2018, the amortization of the guarantee liability was $39,000, $182,000, and $106,000, respectively.

Accrued Rents and Accounts Rece

Accrued Rents and Accounts Receivable, Net	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Accrued Rents and Accounts Receivable, Net	ACCRUED RENTS AND ACCOUNTS RECEIVABLE, NET Accrued rents and accounts receivable, net, consists of amounts accrued, billed and due from tenants, allowance for doubtful accounts and other receivables as follows (in thousands): December 31, 2020 2019 Tenant receivables $ 22,956 $ 16,741 Accrued rents and other recoveries 16,348 16,983 Allowance for doubtful accounts (16,426) (11,173) Other receivables 131 303 Totals $ 23,009 $ 22,854

Unamortized Lease Commissions,

Unamortized Lease Commissions, Legal Fees and Loan Costs	12 Months Ended
	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Unamortized Lease Commissions, Legal Fees and Loan Costs	UNAMORTIZED LEASE COMMISSIONS, LEGAL FEES AND LOAN COSTS Costs which have been deferred consist of the following (in thousands): December 31, 2020 2019 Leasing commissions $ 10,380 $ 9,868 Deferred legal cost 373 393 Deferred financing cost 3,898 3,908 Total cost 14,651 14,169 Less: leasing commissions accumulated amortization (5,029) (4,200) Less: deferred legal cost accumulated amortization (216) (179) Less: deferred financing cost accumulated amortization (1,720) (830) Total cost, net of accumulated amortization $ 7,686 $ 8,960 A summary of expected future amortization of deferred costs is as follows (in thousands): Years Ended December 31, Leasing Commissions Deferred Legal Costs Deferred Financing Costs Total 2021 $ 1,271 $ 40 $ 889 $ 2,200 2022 1,106 32 827 1,965 2023 898 22 243 1,163 2024 696 19 189 904 2025 484 18 30 532 Thereafter 896 26 — 922 Total $ 5,351 $ 157 $ 2,178 $ 7,686

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	LEASES Effective January 1, 2019, we adopted the new lease accounting guidance in Topic 842. As the lessee and lessor, we have elected the package of practical expedients permitted in Topic 842. See Note 2 for additional disclosure on Topic 842. As a Lessor. All leases on our properties are classified as noncancelable operating leases, and the related rental income is recognized on a straight-line basis over the terms of the related leases. Differences between rental income earned and amounts due per the respective lease agreements are capitalized or charged, as applicable, to accrued rents and accounts receivable. Percentage rents are recognized as rental income when the thresholds upon which they are based have been met. Recoveries from tenants for taxes, insurance, and other operating expenses are recognized as revenues in the period the corresponding costs are incurred. We combine lease and nonlease components in lease contracts, which includes combining base rent, recoveries, and percentage rents into a single line item, Rental , within the consolidated statements of operations and comprehensive income (loss). A summary of minimum future rents to be received (exclusive of renewals, tenant reimbursements, contingent rents, and collectability adjustments under Topic 842) under noncancelable operating leases in existence as of December 31, 2020 is as follows (in thousands): Years Ended December 31, Minimum Future Rents (1) 2021 $ 81,372 2022 70,836 2023 59,509 2024 47,296 2025 32,939 Thereafter 97,199 Total $ 389,151 (1) These amounts do not reflect future rental revenues from the renewal or replacement of existing leases and exclude reimbursements of operating expenses and rental increases that are not fixed. As a Lessee. We have office space, automobile, and office machine leases, which qualify as operating leases, with remaining lease terms of approximately one The following table summarizes the fixed, future minimum rental payments, excluding variable costs, which are discounted by our weighted average incremental borrowing rates to calculate the lease liabilities for our operating leases in existence as of December 31, 2020 in which we are the lessee (in thousands): Years Ended December 31, Minimum Future Rents 2021 $ 447 2022 85 2023 39 2024 35 2025 29 Total undiscounted rental payments 635 Less imputed interest 32 Total lease liabilities $ 603 For the year ended December 31, 2020, the total lease costs were $1,077,000. The weighted average remaining lease term for our operating leases was 2.1 years at December 31, 2020. We do not include renewal options in the lease term for calculating the lease liability unless we are reasonably certain we will exercise the option or the lessor has the sole ability to exercise the option. The weighted average incremental borrowing rate was 4.5% at December 31, 2020.

Debt

Debt	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Debt	DEBT Mortgages and other notes payable consist of the following (in thousands): December 31, Description 2020 2019 Fixed rate notes $10.5 million, 4.85% Note, paid off on September 24, 2020 (1) $ — $ 9,260 $100.0 million, 1.73% plus 1.35% to 1.90% Note, due October 30, 2022 (2) 100,000 100,000 $165.0 million, 2.24% plus 1.35% to 1.90% Note, due January 31, 2024 (3) 165,000 165,000 $80.0 million, 3.72% Note, due June 1, 2027 80,000 80,000 $19.0 million 4.15% Note, due December 1, 2024 18,687 19,000 $20.2 million 4.28% Note, due June 6, 2023 18,222 18,616 $14.0 million 4.34% Note, due September 11, 2024 13,236 13,482 $14.3 million 4.34% Note, due September 11, 2024 14,014 14,243 $15.1 million 4.99% Note, due January 6, 2024 14,165 14,409 $2.6 million 5.46% Note, due October 1, 2023 2,339 2,386 $50.0 million, 5.09% Note, due March 22, 2029 50,000 50,000 $50.0 million, 5.17% Note, due March 22, 2029 50,000 50,000 Floating rate notes Unsecured line of credit, LIBOR plus 1.40% to 1.90%, due January 31, 2023 (4) 119,500 109,500 Total notes payable principal 645,163 645,896 Less deferred financing costs, net of accumulated amortization (978) (1,197) $ 644,185 $ 644,699 (1) Promissory note includes an interest rate swap that fixed the interest rate at 3.55% for the duration of the term through September 24, 2018 and 4.85% beginning September 25, 2018 through September 24, 2020. The promissory note was paid off in September 2020. (2) Promissory note includes an interest rate swap that fixed the LIBOR portion of Term Loan 3 (as defined below) at 1.73%. (3) Promissory note includes an interest rate swap that fixed the LIBOR portion of the interest rate at an average rate of 2.24% for the duration of the term through January 31, 2024. (4) Unsecured line of credit includes certain Pillarstone Properties as of December 31, 2018, in determining the amount of credit available under the 2018 Facility which were released from collateral during 2019. LIBOR is expected to be discontinued after 2021. A number of our current debt agreements have an interest rate tied to LIBOR. Some of these agreements provide procedures for determining an alternative base rate in the event that LIBOR is discontinued, but not all do so. Regardless, there can be no assurances as to what alternative base rates may be and whether such base rate will be more or less favorable than LIBOR and any other unforeseen impacts of the potential discontinuation of LIBOR. The Company intends to monitor the developments with respect to the potential phasing out of LIBOR after 2021 and work with its lenders to ensure any transition away from LIBOR will have minimal impact on its financial condition, but can provide no assurances regarding the impact of the discontinuation of LIBOR. On April 30, 2020, the Company entered into a loan in the principal amount of $1,733,510 from U.S. Bank National Association, one of the Company’s existing lenders, pursuant to the Paycheck Protection Program (the “PPP Loan”) of the CARES Act. The PPP Loan was set to mature on May 6, 2022 (the “Maturity Date”), and accrued interest at 1.00% per annum and could be prepaid in whole or in part without penalty. Principal and interest were payable in 18 monthly installments of $96,864.28, beginning on December 6, 2020, plus a final payment equal to all unpaid principal and accrued interest on the Maturity Date. Pursuant to the CARES Act, the Company applied for and was granted forgiveness for all of the PPP Loan. Forgiveness was determined by the U.S. Small Business Administration based on the use of loan proceeds for payroll costs, mortgage interest, rent or utility costs and the maintenance of employee and compensation levels. The Company intended to and used all proceeds from the PPP Loan to retain employees and maintain payroll and make mortgage payments, lease payments and utility payments to support business continuity throughout the COVID-19 pandemic, which amounts were eligible for forgiveness, subject to the provisions of the CARES Act. Based on the guidance in FASB ASC 405-20, “Liabilities - Extinguishment of Liabilities,” the PPP loan remains a liability until either (1) it is wholly or partially forgiven and we have been legally released, or (2) it is paid off. If the loan is partially or wholly forgiven and legal release is received, the liability is reduced by the amount forgiven and a gain on extinguishment is recognized. T he Company recognized a $1,734,000 gain for the PPP Loan forgiveness during the year ended December 31, 2020 based on the legal release from the U.S. Small Business Administration. On March 22, 2019, we, through our Operating Partnership, entered into a Note Purchase and Guarantee Agreement (the “Note Agreement”) together with certain subsidiary guarantors as initial guarantor parties thereto (the “Subsidiary Guarantors”) and The Prudential Insurance Company of America and the various other purchasers named therein (collectively, the “Purchasers”) providing for the issuance and sale of $100 million of senior unsecured notes of the Operating Partnership, of which (i) $50 million are designated as 5.09% Series A Senior Notes due March 22, 2029 (the “Series A Notes”) and (ii) $50 million are designated as 5.17% Series B Senior Notes due March 22, 2029 (the “Series B Notes” and, together with the Series A Notes, the “Notes”) pursuant to a private placement that closed on March 22, 2019 (the “Private Placement”). Obligations under the Notes are unconditionally guaranteed by the Company and by the Subsidiary Guarantors. The principal of the Series A Notes will begin to amortize on March 22, 2023 with annual principal payments of approximately $7.1 million. The principal of the Series B Notes will begin to amortize on March 22, 2025 with annual principal payments of $10.0 million. The Notes will pay interest quarterly on the 22nd day of March, June, September and December in each year until maturity. The Operating Partnership may prepay at any time all, or from time to time part of, the Notes, in an amount not less than $1,000,000 in the case of a partial prepayment, at 100% of the principal amount so prepaid, plus a make-whole amount. The make-whole amount is equal to the excess, if any, of the discounted value of the remaining scheduled payments with respect to the Notes being prepaid over the aggregate principal amount of such Notes (as described in the Note Agreement). In addition, in connection with a Change of Control (as defined in the Note Purchase Agreement), the Operating Partnership is required to offer to prepay the Notes at 100% of the principal amount plus accrued and unpaid interest thereon. The Note Agreement contains representations, warranties, covenants, terms and conditions customary for transactions of this type and substantially similar to the Operating Partnership’s existing senior revolving credit facility, including limitations on liens, incurrence of investments, acquisitions, loans and advances and restrictions on dividends and certain other restricted payments. In addition, the Note Agreement contains certain financial covenants substantially similar to the Operating Partnership’s existing senior revolving credit facility, including the following: • maximum total indebtedness to total asset value ratio of 0.60 to 1.00; • maximum secured debt to total asset value ratio of 0.40 to 1.00; • minimum EBITDA (earnings before interest, taxes, depreciation, amortization or extraordinary items) to fixed charges ratio of 1.50 to 1.00; • maximum other recourse debt to total asset value ratio of 0.15 to 1.00; and • maintenance of a minimum tangible net worth (adjusted for accumulated depreciation and amortization) of $372 million plus 75% of the net proceeds from additional equity offerings (as defined therein). In addition, the Note Agreement contains a financial covenant requiring that maximum unsecured debt not exceed the lesser of (i) an amount equal to 60% of the aggregate unencumbered asset value and (ii) the debt service coverage amount (as described in the Note Agreement). That covenant is substantially similar to the borrowing base concept contained in the Operating Partnership’s existing senior revolving credit facility. The Note Agreement also contains default provisions, including defaults for non-payment, breach of representations and warranties, insolvency, non-performance of covenants, cross-defaults with other indebtedness and guarantor defaults. The occurrence of an event of default under the Note Agreement could result in the Purchasers accelerating the payment of all obligations under the Notes. The financial and restrictive covenants and default provisions in the Note Agreement are substantially similar to those contained in the Operating Partnership’s existing credit facility. Net proceeds from the Private Placement were used to refinance existing indebtedness. The Notes have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. The Notes were sold in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act. On January 31, 2019, we, through our Operating Partnership, entered into an unsecured credit facility (the “2019 Facility”) with the lenders party thereto, Bank of Montreal, as administrative agent (the “Agent”), SunTrust Robinson Humphrey, as syndication agent, and BMO Capital Markets Corp., U.S. Bank National Association, SunTrust Robinson Humphrey and Regions Capital Markets, as co-lead arrangers and joint book runners. The 2019 Facility amended and restated the 2018 Facility (as defined below). The 2019 Facility is comprised of the following three tranches: • $250.0 million unsecured revolving credit facility with a maturity date of January 1, 2023 (the “2019 Revolver”); • $165.0 million unsecured term loan with a maturity date of January 31, 2024 (“Term Loan A”); and • $100.0 million unsecured term loan with a maturity date of October 30, 2022 (“Term Loan B” and together with Term Loan A, the “2019 Term Loans”). Borrowings under the 2019 Facility accrue interest (at the Operating Partnership's option) at a Base Rate or an Adjusted LIBOR plus an applicable margin based upon our then existing leverage. As of December 31, 2020, the interest rate on the 2019 Revolver was 1.80%. The applicable margin for Adjusted LIBOR borrowings ranges from 1.40% to 1.90% for the 2019 Revolver and 1.35% to 1.90% for the 2019 Term Loans. Base Rate means the higher of: (a) the Agent’s prime commercial rate, (b) the sum of (i) the average rate quoted by the Agent by two or more federal funds brokers selected by the Agent for sale to the Agent at face value of federal funds in the secondary market in an amount equal or comparable to the principal amount for which such rate is being determined, plus (ii) 1/2 of 1.00%, and (c) the LIBOR rate for such day plus 1.00%. Adjusted LIBOR means LIBOR divided by one minus the Eurodollar Reserve Percentage. The Eurodollar Reserve Percentage means the maximum reserve percentage at which reserves are imposed by the Board of Governors of the Federal Reserve System on eurocurrency liabilities. Pursuant to the 2019 Facility, in the event of certain circumstances that result in the unavailability of LIBOR, including but not limited to LIBOR no longer being a widely recognized benchmark rate for newly originated dollar loans in the U.S. market, the Operating Partnership and the Agent will establish an alternate interest rate to LIBOR giving due consideration to prevailing market conventions and will amend the 2019 Facility to give effect to such alternate interest rate. The 2019 Facility includes an accordion feature that will allow the Operating Partnership to increase the borrowing capacity by $200.0 million, upon the satisfaction of certain conditions. On March 20, 2020, as a precautionary measure to preserve our financial flexibility in response to potential credit risks posed by the COVID-19 pandemic, the Company drew down approximately $30.0 million under the 2019 Revolver. As of December 31, 2020, subject to any potential future paydowns or increases in the borrowing base, we hav e $18.4 million re maining availability under the 2019 Revolver. As of December 31, 2020, $384.5 million was drawn on the 2019 Facility and our unused borrowing capacity was $130.5 million, assuming that we use the proceeds of the 2019 Facility to acquire properties, or to repay debt on properties, that are eligible to be included in the unsecured borrowing base. The Company used $446.2 million of proceeds from the 2019 Facility to repay amounts outstanding under the 2018 Facility and intends to use the remaining proceeds from the 2019 Facility for general corporate purposes, including property acquisitions, debt repayment, capital expenditures, the expansion, redevelopment and re-tenanting of properties in its portfolio and working capital. The Company, each direct and indirect material subsidiary of the Operating Partnership and any other subsidiary of the Operating Partnership that is a guarantor under any unsecured ratable debt will serve as a guarantor for funds borrowed by the Operating Partnership under the 2019 Facility. The 2019 Facility contains customary terms and conditions, including, without limitation, customary representations and warranties and affirmative and negative covenants including, without limitation, information reporting requirements, limitations on investments, acquisitions, loans and advances, mergers, consolidations and sales, incurrence of liens, dividends and restricted payments. In addition, the 2019 Facility contains certain financial covenants including the following: • maximum total indebtedness to total asset value ratio of 0.60 to 1.00; • maximum secured debt to total asset value ratio of 0.40 to 1.00; • minimum EBITDA (earnings before interest, taxes, depreciation, amortization or extraordinary items) to fixed charges ratio of 1.50 to 1.00; • maximum other recourse debt to total asset value ratio of 0.15 to 1.00; and • maintenance of a minimum tangible net worth (adjusted for accumulated depreciation and amortization) of $372 million plus 75% of the net proceeds from additional equity offerings (as defined therein). We serve as the guarantor for funds borrowed by the Operating Partnership under the 2019 Facility. The 2019 Facility contains customary terms and conditions, including, without limitation, affirmative and negative covenants such as information reporting requirements, maximum secured indebtedness to total asset value, minimum EBITDA (earnings before interest, taxes, depreciation, amortization or extraordinary items) to fixed charges, and maintenance of a minimum net worth. The 2019 Facility also contains customary events of default with customary notice and cure, including, without limitation, nonpayment, breach of covenant, misrepresentation of representations and warranties in a material respect, cross-default to other major indebtedness, change of control, bankruptcy and loss of REIT tax status. On November 7, 2014, we, through our Operating Partnership, entered into an unsecured revolving credit facility (the “2014 Facility”) with the lenders party thereto, with BMO Capital Markets Corp., Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and U.S. Bank, National Association, as co-lead arrangers and joint book runners, and Bank of Montreal, as administrative agent (the “Agent”). The 2014 Facility amended and restated our previous unsecured revolving credit facility. On October 30, 2015, we, through our Operating Partnership, entered into the First Amendment to the 2014 Facility (the “First Amendment”) with the guarantors party thereto, the lenders party thereto and the Agent. We refer to the 2014 Facility, as amended by the First Amendment, as the “2018 Facility.” Pursuant to the First Amendment, the Company made the following amendments to the 2014 Facility: • extended the maturity date of the $300 million unsecured revolving credit facility under the 2014 Facility (the “2018 Revolver”) to October 30, 2019 from November 7, 2018; • converted $100 million of outstanding borrowings under the Revolver to a new $100 million unsecured term loan under the 2014 Facility (“Term Loan 3”) with a maturity date of October 30, 2022; • extended the maturity date of the first $50 million unsecured term loan under the 2014 Facility (“Term Loan 1”) to October 30, 2020 from February 17, 2017; and • extended the maturity date of the second $50 million unsecured term loan under the 2014 Facility (“Term Loan 2” and together with Term Loan 1 and Term Loan 3, the “2018 Term Loans”) to January 29, 2021 from November 7, 2019. Borrowings under the 2018 Facility accrued interest (at the Operating Partnership's option) at a Base Rate or an Adjusted LIBOR plus an applicable margin based upon our then existing leverage. The applicable margin for Adjusted LIBOR borrowings ranged from 1.40% to 1.95% for the 2018 Revolver and 1.35% to 2.25% for the 2018 Term Loans. Base Rate means the higher of: (a) the Agent’s prime commercial rate, (b) the sum of (i) the average rate quoted by the Agent by two or more federal funds brokers selected by the Agent for sale to the Agent at face value of federal funds in the secondary market in an amount equal or comparable to the principal amount for which such rate is being determined, plus (ii) 1/2 of 1.00%, and (c) the LIBOR rate for such day plus 1.00%. Adjusted LIBOR means LIBOR divided by one minus the Eurodollar Reserve Percentage. The Eurodollar Reserve Percentage means the maximum reserve percentage at which reserves are imposed by the Board of Governors of the Federal Reserve System on eurocurrency liabilities. Proceeds from the 2018 Facility were used for general corporate purposes, including property acquisitions, debt repayment, capital expenditures, the expansion, redevelopment and re-tenanting of properties in our portfolio and working capital. On May 26, 2017, we, through our subsidiary, Whitestone BLVD Place LLC, a Delaware limited liability company, issued a $80.0 million promissory note to American General Life Insurance Company (the “BLVD Note”). The BLVD Note has a fixed interest rate of 3.72% and a maturity date of June 1, 2027. Proceeds from the BLVD Note were used to fund a portion of the purchase price of the acquisition of BLVD Place. As of December 31, 2020, our $160.7 million in secured debt was collateralized by seven properties with a carrying value of $250.9 million. Our loans contain restrictions that would require the payment of prepayment penalties for the acceleration of outstanding debt and are secured by deeds of trust on certain of our properties and by assignment of the rents and leases associated with those properties. In 2018, we were not in compliance with respect to the tangible Net Worth covenant as defined in the 2018 Facility and had received two waivers in 2018. Had we been unable to obtain a waiver or other suitable relief from the lenders under the 2018 Facility, an Event of Default (as defined in the 2018 Facility) would have occurred, permitting the lenders holding a majority of the commitments under the 2018 Facility to, among other things, accelerate the outstanding indebtedness, which would make it immediately due and payable. The 2019 Facility and the Notes contain a similar tangible Net Worth covenant that resets at a new threshold and changes the definition of Net Worth to add back accumulated depreciation. However, we can make no assurances that we will be in compliance with these covenants or other covenants under the 2019 Facility or the Notes in future periods or, if we are not in compliance, that we will be able to obtain a waiver. As of December 31, 2020, we were in compliance with all loan covenants. Scheduled maturities of our outstanding debt as of December 31, 2020 were as follows (in thousands): Year Amount Due 2021 $ 1,829 2022 101,683 2023 147,363 2024 228,573 2025 17,143 Thereafter 148,572 Total $ 645,163 As of December 31, 2020, we had the following contractual obligations (in thousands): Payment due by period (in thousands) Consolidated Contractual Obligations Less than 1 1 - 3 years 3 - 5 years More than Long-Term Debt - Principal $ 645,163 $ 1,829 $ 249,046 $ 245,716 $ 148,572 Long-Term Debt - Fixed Interest 85,931 21,301 37,830 16,281 10,519 Long-Term Debt - Variable Interest (1) 9,918 4,959 4,959 — — Unsecured credit facility - Unused commitment fee (2) 679 326 353 — — Operating Lease Obligations 255 85 106 64 — Related Party Rent Lease Obligations 380 362 18 — — Total $ 742,326 $ 28,862 $ 292,312 $ 262,061 $ 159,091 (1) As of December 31, 2020, we had one loan totaling $119.5 million which bore interest at a floating rate. The variable interest rate payments are based on LIBOR plus 1.40% to LIBOR plus 1.90%, which reflects our new interest rates under the 2019 Facility. The information in the table above reflects our projected interest rate obligations for the floating rate payments based on one-month LIBOR as of December 31, 2020, of 0.15%.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	DERIVATIVES AND HEDGING ACTIVITIES The estimated fair value of our interest rate swaps is as follows (in thousands): December 31, 2020 Balance Sheet Location Estimated Fair Value Prepaid expenses and other assets $ — Accounts payable and accrued expenses $ (14,663) December 31, 2019 Balance Sheet Location Estimated Fair Value Prepaid expenses and other assets $ 59 Accounts payable and accrued expenses $ (5,660) On January 31, 2019, we, through our Operating Partnership, entered into an interest rate swap of $65 million with Bank of Montreal that fixed the LIBOR portion of Term Loan A under the 2019 Facility at 2.43%. Pursuant to the terms of the agreement governing the interest rate swap, Bank of Montreal assigned $12.9 million of the swap to U.S. Bank, National Association, $11.6 million of the swap to Regions Bank, $15.7 million of the swap to SunTrust Bank, and $5.9 million of the swap to Associated Bank. See Note 9 (Debt) for additional information regarding the 2019 Facility. The swap began on February 7, 2019 and matured on November 9, 2020. We designated the interest rate swap as a cash flow hedge with the effective portion of the changes in fair value recorded in comprehensive income (loss). On January 31, 2019, we, through our Operating Partnership, entered into an interest rate swap of $115 million with Bank of Montreal that fixed the LIBOR portion of Term Loan A under the 2019 Facility at 2.43%. Pursuant to the terms of the agreement governing the interest rate swap, Bank of Montreal assigned $22.7 million of the swap to U.S. Bank, National Association, $20.5 million of the swap to Regions Bank, $27.9 million of the swap to SunTrust Bank, and $10.5 million of the swap to Associated Bank. See Note 9 (Debt) for additional information regarding the 2019 Facility. The swap began on November 9, 2020 and will mature on February 8, 2021. We have designated the interest rate swap as a cash flow hedge with the effective portion of the changes in fair value recorded in comprehensive income (loss) and subsequently reclassified into earnings in the period that the hedged transaction affects earnings. The Company does not expect any amount of the existing gains or losses to be reclassified into earnings through the maturity date. On January 31, 2019, we, through our Operating Partnership, entered into an interest rate swap of $165 million with Bank of Montreal that fixed the LIBOR portion of Term Loan A under the 2019 Facility at 2.43%. Pursuant to the terms of the agreement governing the interest rate swap, Bank of Montreal assigned $32.6 million of the swap to U.S. Bank, National Association, $29.4 million of the swap to Regions Bank, $40.0 million of the swap to SunTrust Bank, and $15.0 million of the swap to Associated Bank. See Note 9 (Debt) for additional information regarding the 2019 Facility. The swap began on February 8, 2021 and will mature on January 31, 2024. We have designated the interest rate swap as a cash flow hedge with the effective portion of the changes in fair value to be recorded in comprehensive income (loss) and subsequently reclassified into earnings in the period that the hedged transaction affects earnings. The ineffective portion of the change in fair value, if any, will be recognized directly in earnings. The Company does not expect any amount of the existing gains or losses to be reclassified into earnings within the next 12 months. On September 5, 2018, we, through our Operating Partnership, entered into an interest rate swap with Bank of America that fixed the LIBOR portion of the $9.6 million extension loan on the Whitestone Terravita Marketplace property at 2.85%. The swap began on September 25, 2018 and matured on September 24, 2020. We designated the interest rate swap as a cash flow hedge with the effective portion of the changes in fair value recorded in comprehensive income (loss). On November 19, 2015, we, through our Operating Partnership, entered into an interest rate swap with Bank of Montreal that fixed the LIBOR portion of Term Loan 3 under the 2018 Facility at 1.73%. In the fourth quarter of 2015, pursuant to the terms of the agreement governing the interest rate swap, Bank of Montreal assigned $35.0 million of the swap to U.S. Bank, National Association, and $15.0 million of the swap to SunTrust Bank. See Note 9 for additional information regarding the 2018 Facility. The swap began on November 30, 2015 and will mature on October 28, 2022. We have designated the interest rate swap as a cash flow hedge with the effective portion of the changes in fair value to be recorded in comprehensive income (loss) and subsequently reclassified into earnings in the period that the hedged transaction affects earnings. The ineffective portion of the change in fair value, if any, will be recognized directly in earnings. The Company does not expect any amount of the existing gains or losses to be reclassified into earnings within the next 12 months. On November 19, 2015, we, through our Operating Partnership, entered into an interest rate swap with Bank of Montreal that fixed the LIBOR portion of Term Loan 1 under the 2018 Facility at 1.75%. In the fourth quarter of 2015, pursuant to the terms of the agreement governing the interest rate swap, Bank of Montreal assigned $3.8 million of the swap to Regions Bank, $6.5 million of the swap to U.S. Bank, National Association, $14.0 million of the swap to Wells Fargo Bank, National Association, $14.0 million of the swap to Bank of America, N.A., and $5.0 million of the swap to SunTrust Bank. See Note 9 for additional information regarding the 2018 Facility. The swap began on February 3, 2017 and matured on October 30, 2020. We designated the interest rate swap as a cash flow hedge with the effective portion of the changes in fair value recorded in comprehensive income (loss). On November 19, 2015, we, through our Operating Partnership, entered into an interest rate swap with Bank of Montreal that fixed the LIBOR portion of Term Loan 2 under the 2018 Facility at 1.50%. In the fourth quarter of 2015, pursuant to the terms of the agreement governing the interest rate swap, Bank of Montreal assigned $3.8 million of the swap to Regions Bank, $6.5 million of the swap to U.S. Bank, National Association, $14.0 million of the swap to Wells Fargo Bank, National Association, $14.0 million of the swap to Bank of America, N.A., and $5.0 million of the swap to SunTrust Bank. See Note 9 for additional information regarding the 2018 Facility. The swap began on December 7, 2015 and will mature on January 29, 2021. We have designated the interest rate swap as a cash flow hedge with the effective portion of the changes in fair value to be recorded in comprehensive income (loss) and subsequently reclassified into earnings in the period that the hedged transaction affects earnings. The Company does not expect any amount of the existing gains or losses to be reclassified into earnings through the maturity date. A summary of our interest rate swap activity is as follows (in thousands): Amount Recognized as Comprehensive Income (Loss) Location of Income (Loss) Recognized in Earnings Amount of Income (Loss) Recognized in Earnings (1) Year ended December 31, 2020 $ (9,062) Interest expense $ 3,578 Year ended December 31, 2019 $ (9,828) Interest expense $ 1,036 Year ended December 31, 2018 $ 1,192 Interest expense $ 646 (1) There was no ineffective portion of our interest rate swaps recognized in earnings for the years ended December 31, 2020, 2019 and 2018.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE Basic earnings per share for our common shareholders is calculated by dividing income from continuing operations excluding amounts attributable to unvested restricted shares and the net income attributable to non-controlling interests by our weighted-average common shares outstanding during the period. Diluted earnings per share is computed by dividing the net income attributable to common shareholders excluding amounts attributable to unvested restricted shares and the net income attributable to non-controlling interests by the weighted-average number of common shares including any dilutive unvested restricted shares. Certain of our performance-based restricted common shares are considered participating securities, which require the use of the two-class method for the computation of basic and diluted earnings per share. During the years ended December 31, 2020, 2019 and 2018, 820,563, 924,314 and 1,011,268 OP units, respectively, were excluded from the calculation of diluted earnings per share because their effect would be anti-dilutive. For the years ended December 31, 2020, 2019 and 2018, distributions of $0, $41,000 and $317,000, respectively, were made to the holders of certain restricted common shares, $0, $0, and $16,000 of which were charged against earnings, annually for the years ended December 31, 2020, 2019 and 2018, respectively. See Note 15 for information related to restricted common shares under the 2008 Plan. Year Ended December 31, (in thousands, except per share data) 2020 2019 2018 Numerator: Income from continuing operations $ 6,151 $ 23,634 $ 21,981 Less: Net income attributable to noncontrolling interests (117) (511) (550) Distributions paid on unvested restricted shares — (41) (301) Income from continuing operations attributable to Whitestone REIT excluding amounts attributable to unvested restricted shares 6,034 23,082 21,130 Income from discontinued operations — 594 — Less: Net income attributable to noncontrolling interests — (34) — Income from discontinued operations attributable to Whitestone REIT — 560 — Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 6,034 $ 23,642 $ 21,130 Denominator: Weighted average number of common shares - basic 42,244 40,184 39,274 Effect of dilutive securities: Unvested restricted shares 746 1,278 1,338 Weighted average number of common shares - dilutive 42,990 41,462 40,612 Earnings Per Share: Basic: Income from continuing operations attributable to Whitestone REIT excluding amounts attributable to unvested restricted shares $ 0.14 $ 0.57 $ 0.54 Income from discontinued operations attributable to Whitestone REIT 0.00 0.02 0.00 Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 0.14 $ 0.59 $ 0.54 Diluted: Income from continuing operations attributable to Whitestone REIT excluding amounts attributable to unvested restricted shares $ 0.14 $ 0.56 $ 0.52 Income from discontinued operations attributable to Whitestone REIT 0.00 0.01 0.00 Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 0.14 $ 0.57 $ 0.52

Federal Income Taxes

Federal Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Federal Income Taxes	FEDERAL INCOME TAXES Federal income taxes are not provided because we intend to and believe we qualify as a REIT under the provisions of the Code and because we have distributed and intend to continue to distribute all of our taxable income to our shareholders. Our shareholders include their proportionate taxable income in their individual tax returns. As a REIT, we must distribute at least 90% of our real estate investment trust taxable income to our shareholders and meet certain income sources and investment restriction requirements. In addition, REITs are subject to a number of organizational and operational requirements. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income tax on our taxable income at regular corporate tax rates. Taxable income differs from net income for financial reporting purposes principally due to differences in the timing of recognition of interest, real estate taxes, depreciation and rental revenue. For federal income tax purposes, the cash distributions to shareholders are characterized as follows for the years ended December 31: 2020 2019 2018 Ordinary income (unaudited) 59.9 % 28.6 % 39.1 % Return of capital (unaudited) 40.1 % 19.4 % 26.5 % Capital gain distributions (unaudited) — % 52.0 % 34.4 Total 100.0 % 100.0 % 100.0 %

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS The Contribution. Mr. James C. Mastandrea, the Chairman and Chief Executive Officer of the Company, also serves as the Chairman and Chief Executive Officer of Pillarstone REIT and beneficially owns approximately 78.2% of the outstanding equity in Pillarstone REIT (when calculated in accordance with Rule 13d-3(d)(1) under the Exchange Act of 1934, as amended (the “Exchange Act”)). Mr. John J. Dee, the Chief Operating Officer and Corporate Secretary of the Company, also serves as the Senior Vice President and Chief Financial Officer of Pillarstone REIT and beneficially owns approximately 27.0% of the outstanding equity in Pillarstone REIT (when calculated in accordance with Rule 13d-3(d)(1) under the Exchange Act). In addition, Mr. Paul T. Lambert, a Trustee of the Company, also serves as a Trustee of Pillarstone REIT. The Contribution is pursuant to the Company’s strategy of recycling capital by disposing of Non-Core Properties that do not fit the Company’s Community Centered Property ® strategy and the terms of the Contribution Agreement, the OP Unit Purchase Agreement, the Tax Protection Agreement and the Contribution were determined through arm’s-length negotiations. The Contribution was unanimously approved and recommended by a special committee of independent Trustees of the Company. See Note 5 for additional disclosure on the Contribution. Pillarstone OP. For the periods prior to January 1, 2018, Pillarstone OP was accounted for under the profit-sharing method, and related party transactions between the Company and Pillarstone OP were eliminated. As a result of the adoption of Topic 606 and ASC 610 as of January 1, 2018, the Company derecognized the underlying assets and liabilities associated with the Contribution as of January 1, 2018 and recognized the Company’s investment in Pillarstone OP under the equity method. During the ordinary course of business, we have transactions with Pillarstone OP that include, but are not limited to, rental income, interest expense, general and administrative costs, commissions, management and asset management fees, and property expenses. The following table presents the revenue and expenses with Pillarstone OP included in our consolidated statements of operations and comprehensive income (loss) for the years ended December 31, 2020, 2019 and 2018 (in thousands): Location of Revenue (Expense) 2020 2019 2018 Rent Operating and maintenance $ (932) $ (813) $ (779) Property management fee income Management, transaction, and other fees $ 598 $ 856 $ 1,008 Interest income Interest, dividend and other investment income $ — $ 171 $ 582

Equity

Equity	12 Months Ended
	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Equity	EQUITY Under our declaration of trust, as amended, we have authority to issue up to 400 million common shares of beneficial interest, $0.001 par value per share, and up to 50 million preferred shares of beneficial interest, $0.001 par value per share. Equity Offerings On May 31, 2019, we entered into nine equity distribution agreements for an at-the-market equity distribution program (the “2019 equity distribution agreements”) providing for the issuance and sale of up to an aggregate of $100 million of the Company’s common shares pursuant to our Registration Statement on Form S-3 (File No. 333-225007). Actual sales will depend on a variety of factors determined by us from time to time, including (among others) market conditions, the trading price of our common shares, capital needs and our determinations of the appropriate sources of funding for us, and were made in transactions that will be deemed to be “at-the-market” offerings as defined in Rule 415 under the Securities Act. We have no obligation to sell any of our common shares and can at any time suspend offers under the 2019 equity distribution agreements or terminate the 2019 equity distribution agreements. For the years ended December 31, 2020 and 2019, we sold 170,942 and 1,612,389 common shares under the 2019 equity distribution agreements, with net proceeds to us of approximately $2.2 million and $21.2 million, respectively. In connection with such sales, we paid compensation of approximately $34,000 and $324,000, respectively, to the sales agents. In light of the significant decline in the price of our common shares since the outbreak of COVID-19, we do not currently anticipate selling shares under the 2019 equity distribution agreements until the price of our common shares increases significantly. However, if necessary, we could choose to issue shares at prevailing market prices if our liquidity position so requires. On June 4, 2015, we entered into nine amended and restated equity distribution agreements (the “2015 equity distribution agreements”) for an at-the-market distribution program. Pursuant to the terms and conditions of the 2015 equity distribution agreements, we could issue and sell up to an aggregate of $50 million of our common shares pursuant to our Registration Statement on Form S-3 (File No. 333-203727), which expired on April 29, 2018. Actual sales depended on a variety of factors determined by us from time to time, including (among others) market conditions, the trading price of our common shares, capital needs and our determinations of the appropriate sources of funding for us, and were made in transactions that will be deemed to be “at-the-market” offerings as defined in Rule 415 under the Securities Act. We had no obligation to sell any of our common shares, and could at any time suspend offers under the 2015 equity distribution agreements or terminate the 2015 equity distribution agreements. For the years ended December 31, 2020, 2019 and 2018, we did not sell any common shares under the 2015 equity distribution agreements. Operating Partnership Units Substantially all of our business is conducted through the Operating Partnership. We are the sole general partner of the Operating Partnership. As of December 31, 2020, we owned a 98.2% interest in the Operating Partnership. Limited partners in the Operating Partnership holding OP units have the right to redeem their OP units for cash or, at our option, common shares at a ratio of one OP unit for one common share. Distributions to OP unit holders are paid at the same rate per unit as distributions per share to Whitestone common shares. As of December 31, 2020 and 2019, there were 43,043,251 and 42,279,849 OP units outstanding, respectively. We owned 42,270,476 and 41,371,277 OP units as of December 31, 2020 and 2019, respectively. The balance of the OP units is owned by third parties, including certain trustees. Our weighted-average share ownership in the Operating Partnership was approximately 98.1%, 97.7% and 97.5% for the years ended December 31, 2020, 2019 and 2018, respectively. For the years ended December 31, 2020 and 2019, 135,797 and 19,909 OP units, respectively, were redeemed for an equal number of common shares. Distributions The following table reflects the total distributions we have paid (including the total amount paid and the amount paid per share) in each indicated quarter (in thousands, except per share data): Common Shares Noncontrolling OP Unit Holders Total Quarter Paid Distribution Per Common Share Total Amount Paid Distribution Per OP Unit Total Amount Paid Total Amount Paid 2020 Fourth Quarter $ 0.1050 $ 4,432 $ 0.1050 $ 81 $ 4,513 Third Quarter 0.1050 4,430 0.1050 81 4,511 Second Quarter 0.1050 4,413 0.1050 91 4,504 First Quarter 0.2850 11,928 0.2850 258 12,186 Total $ 0.6000 $ 25,203 $ 0.6000 $ 511 $ 25,714 2019 Fourth Quarter $ 0.2850 $ 11,580 $ 0.2850 $ 262 $ 11,842 Third Quarter 0.2850 11,430 0.2850 264 11,694 Second Quarter 0.2850 11,316 0.2850 265 11,581 First Quarter 0.2850 11,301 0.2850 264 11,565 Total $ 1.1400 $ 45,627 $ 1.1400 $ 1,055 $ 46,682 On March 24, 2020 we announced that, in further pursuit of ensuring our financial flexibility, our board of trustees (the “Board”) determined to conserve additional liquidity by reducing our distribution in response to the COVID-19 pandemic. The distribution reduction has resulted in approximately $7.7 million of quarterly cash savings. The Board will regularly reassess the dividend, particularly as there is more clarity on the duration and severity of the COVID-19 pandemic and as business conditions improve. Shareholders' Rights Plan On May 14, 2020, the Board authorized a dividend of one preferred share purchase right (a “Right”) for each outstanding common share payable on May 26, 2020 (the “Record Date”), to the holders of record of common shares as of 5:00 P.M., New York City time, on the Record Date. In connection with the Rights, the Company and American Stock Transfer & Trust Company, LLC, as rights agent, entered into a Rights Agreement, dated as of May 14, 2020 (the “Rights Agreement”). Each Right entitles the registered holder to purchase from the Company one one-thousandth (a “Unit”) of a Series A Preferred Share, par value $0.001 per share (each a “Preferred Share”), of the Company at a purchase price of $30.00 per Unit, subject to adjustment as described in the Rights Agreement. If a person or group of affiliated or associated persons acquires beneficial ownership of 5% or more of our outstanding common shares (20% or more in the case of a passive institutional investor), subject to certain exceptions described in the Rights Agreement, each Right would entitle its holder (other than the acquiring person or group of affiliated or associated persons) to purchase additional common shares at a substantial discount to the public market price. In addition, under certain circumstances, we may exchange the Rights (other than Rights beneficially owned by the acquiring person or group of affiliated or associated persons), in whole or in part, for common shares on a one-for-one basis. The Rights will expire on the earliest of (i) the close of business on May 13, 2021, (ii) the time at which the Rights are redeemed pursuant to the Rights Agreement, (iii) the closing of any merger or other acquisition transaction involving the Company that has been approved by the Board, at which time the Rights are terminated, and (iv) the time at which the Rights are exchanged pursuant to the Rights Agreement. The Rights are in all respects subject to and governed by the provisions of the Rights Agreement.

Incentive Share Plan

Incentive Share Plan	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Incentive Share Plan	INCENTIVE SHARE PLAN The Company’s 2008 Long-Term Equity Incentive Ownership Plan (as amended, the “2008 Plan”) expired in July 2018. At the Company’s annual meeting of shareholders on May 11, 2017, our shareholders voted to approve the 2018 Long- Term Equity Incentive Ownership Plan (the “2018 Plan”). The 2018 Plan provides for the issuance of up to 3,433,831 common shares and OP units pursuant to awards under the 2018 Plan. The 2018 Plan became effective on July 30, 2018, which is the day after the 2008 Plan expired. The Compensation Committee administered the 2008 Plan and administers the 2018 Plan except, in each case, with respect to awards to non-employee trustees, for which the 2008 Plan was and the 2018 Plan is administered by the board of trustees. The Compensation Committee is authorized to grant share options, including both incentive share options and non-qualified share options, as well as share appreciation rights, either with or without a related option. The Compensation Committee is also authorized to grant restricted common shares, restricted common share units, performance awards and other share-based awards. On September 6, 2017, the Compensation Committee approved the grant of an aggregate of 965,000 performance-based restricted common share units under the 2008 Plan which only vest immediately prior to the consummation of a Change in Control (as defined in the 2008 Plan) that occurs on or before September 30, 2024 (the “CIC Units”) to certain of our employees. Continued employment is required through the vesting date. If a Change in Control does not occur on or before September 30, 2024, the CIC Units shall be immediately forfeited. The Company considers a Change in Control on or before September 30, 2024 to be improbable, and no expense has been recognized for the CIC Units. If a Change in Control occurs, any outstanding CIC Units would be expensed immediately on the date of the Change in Control using the grant date fair value. The grant date fair value for each CIC Unit of $13.05 was determined based on the Company’s closing share price on the grant date. On September 6, 2017, the Compensation Committee approved the grant of an aggregate of 267,783 performance-based restricted common share units under the 2008 Plan with market-based vesting conditions (the “TSR Units”) to certain of our employees. Vesting was contingent upon achieving Total Shareholder Return relative to the peer group defined in the TSR Unit award agreements over a three On March 16, 2018, the Compensation Committee approved the grant of an aggregate of 387,499 time-based restricted common share units under the 2008 Plan, which vest annually in three equal installments, and 4,300 performance-based restricted common share units to certain of our employees. On December 1, 2018, the Compensation Committee approved the grant of an aggregate of 229,684 TSR Units under the 2018 Plan to certain of our employees. Vesting was contingent upon achieving Total Shareholder Return relative to the peer group defined in the TSR Unit award agreements over a three On June 30, 2019, the Compensation Committee approved the grant of an aggregate of 405,417 TSR Units and 317,184 time-based restricted common share units under the 2018 Plan to certain of our employees. On September 30, 2019, the Compensation Committee approved the grant of 17,069 time-based restricted common share units under the 2018 Plan to certain of our employees. Vesting of the TSR Units is contingent upon achieving Total Shareholder Return relative to the peer group defined in the TSR Unit award agreements over a three three On July 31, 2020, the Compensation Committee approved the grant of an aggregate of 545,000 TSR Units and 530,000 time-based restricted common share units under the 2018 Plan to certain of our employees. Vesting of the TSR Units is contingent upon achieving Total Shareholder Return relative to the peer group defined in the TSR Unit award agreements over a three three A summary of the share-based incentive plan activity as of and for the year ended December 31, 2020 is as follows: Shares Weighted-Average Grant Date Fair Value (1) Non-vested at January 1, 2020 2,339,932 $ 11.52 Granted 1,108,014 5.76 Vested (511,621) 10.88 Forfeited (32,479) 10.80 Non-vested at December 31, 2020 2,903,846 $ 9.45 Available for grant at December 31, 2020 375,046 (1) The fair value of the shares granted were determined based on observable market transactions occurring near the date of the grants. A summary of our nonvested and vested shares activity for the years ended December 31, 2020, 2019 and 2018 is presented below: Shares Granted Shares Vested Year Ended Non-Vested Shares Issued Weighted-Average Grant-Date Fair Value Vested Shares Total Vest-Date Fair Value (in thousands) Year Ended December 31, 2020 1,108,014 $ 5.76 (511,621) $ 5,566 Year Ended December 31, 2019 762,630 $ 9.46 (284,964) $ 3,352 Year Ended December 31, 2018 653,472 $ 11.07 (560,126) $ 7,978 Total compensation recognized in earnings for share-based payments for the years ended December 31, 2020, 2019 and 2018 was $6.1 million, $6.5 million and $6.8 million, respectively. Based on our current financial projections, we expect 100% of the unvested awards, exclusive of 890,000 CIC Units, to vest over the next 31 months. As of December 31, 2020, there was approximately $3.8 million in unrecognized compensation cost related to outstanding non-vested TSR Units, which are expected to vest over a period of 25 months and approximately $4.6 million in unrecognized compensation cost related to outstanding non-vested time-based shares, which are expected to be recognized over a period of approximately 31 months beginning on January 1, 2020.

Grants to Trustees

Grants to Trustees	12 Months Ended
	Dec. 31, 2020
Grants to Trustees [Abstract]
Grants to Trustees	GRANTS TO TRUSTEES On December 4, 2020, six independent trustees, including one independent trustee who served on the board until the 2020 annual meeting of shareholders and did not stand for re-election, and one trustee emeritus were granted a total of 29,587 common shares, which vest immediately and are prorated based on date appointed. The 29,587 common shares granted to our trustees had a grant fair value of $8.17 per share. On December 4, 2020, one of our independent trustees elected to receive a total of 3,427 common shares with a grant date fair value of $8.17 in lieu of cash for board fees. The fair value of the shares granted during the year ended December 31, 2020 was determined using quoted prices available on the date of grant. On December 12, 2019, each of our six independent trustees and one trustee emeritus were granted approximately 3,000 common shares, which vest immediately and are prorated based on date appointed. The 19,562 common shares granted to our trustees had a grant fair value of $13.54 per share. On December 12, 2019, two of our independent trustees each elected to receive a total of 3,398 common shares with a grant date fair value of $13.54 in lieu of cash for board fees. The fair value of the shares granted during the year ended December 31, 2019 was determined using quoted prices available on the date of grant. On December 28, 2018, each of our six independent trustees and one trustee emeritus were granted 3,000 common shares, which vest immediately and are prorated based on date appointed. The 21,000 common shares granted to our trustees had a grant fair value of $12.42 per share. On December 28, 2018, two of our independent trustees each elected to receive a total of 4,186 common shares with a grant date fair value of $12.42 in lieu of cash for board fees. The fair value of the shares granted during the year ended December 31, 2018 was determined using quoted prices available on the date of grant.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES On December 12, 2017, a property owner that owns a land parcel adjacent to a Whitestone property filed suit against Whitestone Pinnacle of Scottsdale - Phase II, LLC (“Whitestone Pinnacle”) alleging breach of contract and resulting in the delay of the construction of their assisted living facility. The claimant seeks approximately $2.3 million in restitution from Whitestone Pinnacle. The Company intends to vigorously defend the matter as it believes that these claims are without merit and that it has substantial legal and factual defenses to the claims and allegations contained in the complaint. Based upon the present status of this matter, the Company does not believe it is probable that a loss will be incurred. Accordingly, the Company has not recorded a charge as a result of this action. We are subject to various legal proceedings and claims that arise in the ordinary course of business. These matters are generally covered by insurance. While the resolution of these matters cannot be predicted with certainty, management believes the final outcome of such matters will not have a material adverse effect on our financial position, results of operations, cash flows or liquidity.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION Our management historically has not differentiated by property types and therefore does not present segment information.

Selected Quarterly Financial Da

Selected Quarterly Financial Data (unaudited)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data (unaudited)	SELECTED QUARTERLY FINANCIAL DATA (unaudited) The following is a summary of our unaudited quarterly financial information for the years ended December 31, 2020 and 2019 (in thousands, except per share data): First Second Third Fourth Quarter Quarter Quarter Quarter 2020 Revenues $ 30,584 $ 27,597 $ 29,900 $ 29,834 Net income $ 1,647 $ 419 $ 914 $ 3,171 Net income attributable to Whitestone REIT $ 1,612 $ 410 $ 900 $ 3,112 Basic Earnings per share: Net income attributable to common shareholders, excluding amounts attributable to unvested restricted shares (1) $ 0.04 $ 0.01 $ 0.02 $ 0.07 Diluted Earnings per share: Net income attributable to common shareholders, excluding amounts attributable to unvested restricted shares (1) $ 0.04 $ 0.01 $ 0.02 $ 0.07 2019 Revenues $ 29,694 $ 29,578 $ 29,879 $ 30,100 Net income $ 2,839 $ 3,404 $ 1,849 $ 16,136 Net income attributable to Whitestone REIT $ 2,774 $ 3,327 $ 1,807 $ 15,776 Basic Earnings per share: Income from continuing operations attributable to Whitestone REIT, excluding amounts attributable to unvested restricted shares (1) $ 0.07 $ 0.06 $ 0.04 $ 0.39 Income from discontinued operations attributable to Whitestone REIT (1) $ 0.00 $ 0.02 $ 0.00 0.00 Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares (1) $ 0.07 $ 0.08 $ 0.04 $ 0.39 Diluted Earnings per share: Income from continuing operations attributable to Whitestone REIT, excluding amounts attributable to unvested restricted shares (1) $ 0.07 $ 0.06 $ 0.04 $ 0.38 Income from discontinued operations attributable to Whitestone REIT (1) $ 0.00 $ 0.02 $ 0.00 (0.01) Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares (1) $ 0.07 $ 0.08 $ 0.04 $ 0.37 (1) The sum of individual quarterly basic and diluted earnings per share amounts may not agree with the year-to-date basic and diluted earning per share amounts as the result of each period’s computation being based on the weighted average number of common shares outstanding during that period.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS On February 4, 2021, the Board of Trustees (the “Board”) of the Company, upon recommendation and approval of the Compensation Committee of the Board (the “Compensation Committee”), approved the following cash payments to its employees, including named executive officers, and an increase in the Company’s annual cash distribution. In taking these actions, the Board and the Compensation Committee considered the impact of the ongoing COVID-19 pandemic on the Company’s business and operations and the Company’s commitment to delivering long-term value to its shareholders. Cash Bonuses Payable to Named Executive Officers The Company’s annual incentive program (the “AIP”) provides an opportunity for employees to receive a short-term award based on the achievement of specified organization, operating and financial goals and objectives at the corporate level that are established by the Compensation Committee each year. In July 2020, the Compensation Committee established three targets for 2020 pursuant to the AIP to be based on achievement of specified levels of liquidity, occupancy and the ratio of the Company’s dividend to AFFO. The 2020 targets were intended to be challenging to achieve, even at the lowest level, because the Company has historically not paid out cash incentives and did not intend to do so in 2021 unless performance in 2020 was well-above expectation. The Company’s CEO and CFO have not received cash incentives pursuant to the AIP for the past nine years. Cash incentive opportunities of the named executive officers pursuant to the AIP were as follows, with potential to earn up to 200% of the target award depending on the level of achievement of the three 2020 targets. NEO (Named Executive Officers) AIP Cash Incentive Opportunity at “Target” James C. Mastandrea 125% of annual base salary, or $750,000 David K. Holeman 100% of annual base salary, or $375,000 John J. Dee 50% of annual base salary, or $125,000 Bradford D. Johnson 80% of annual base salary, or $240,000 Christine J. Mastandrea 80% of annual base salary, or $240,000 Because the Company achieved each of the three 2020 targets at the highest level, each named executive officer was potentially eligible to receive his or her AIP cash incentive at 200% of the target amount. Historically, the Compensation Committee has refrained from exercising discretion to modify cash incentives payable pursuant to the AIP. However, the Compensation Committee and the Board considered that, among other things, despite the fact that the 2020 targets were established at the height of the COVID-19 pandemic and that the Company and executive officers had performed at an exceptional level in 2020, as a result of the impact of the pandemic the Compensation Committee and the Board exercised their discretion to reduce the cash incentives payable to named executive officers to target rather than 200% of target. The Company will pay an aggregate of $1.73 million in cash incentives to the named executive officers in 2021 pursuant to the AIP. The Compensation Committee and the Board also amended the employment agreements for Messrs. Mastandrea and Holeman and the change in control agreements for Mrs. Mastandrea and Messrs. Dee and Johnson in order to clarify that this reduction in 2020 cash incentive payouts will be disregarded in connection with any severance or change in control and approved retention payments for the named executive officers to be paid on March 15, 2025, subject to the named executive officers remaining employed by the Company through December 31, 2024 (with exceptions for terminations by the Company without cause, by the named executive officers for good reason or due to death or disability). The amounts of such retention payments for Messrs. Mastandrea, Holeman, Dee and Johnson and Mrs. Mastandrea are $750,000, $375,000, $125,000, $240,000 and $240,000, respectively. Cash Bonuses Payable to Non-Named Executive Officer Employees The Board approved additional cash bonuses payable to the Company’s non-named executive officer employees of up to $300,000 in the aggregate for their contributions during 2020. Quarterly Dividend

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	(in thousands) Balance at Deductions Balance at Beginning from End of Description of Year Charges (1) Reserves Year Allowance for doubtful accounts: Year ended December 31, 2020 $ 11,173 $ 5,649 $ (396) $ 16,426 Year ended December 31, 2019 9,746 1,484 (57) 11,173 Year ended December 31, 2018 8,608 1,391 (253) 9,746 (1) For the years ended December 31, 2020 and 2019, charges were reductions to revenue. For the year ended December 31, 2018, charges were additions to costs and expense.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate and Accumulated Depreciation	Costs Capitalized Subsequent Gross Amount at which Carried at Initial Cost (in thousands) to Acquisition (in thousands) End of Period (in thousands) (1) (2) Building and Improvements Carrying Building and Property Name Land Improvements (net) Costs Land Improvements Total Whitestone Properties: Ahwatukee Plaza $ 5,126 $ 4,086 $ 357 $ — $ 5,126 $ 4,443 $ 9,569 Anthem Marketplace 4,790 17,973 1,771 — 4,790 19,744 24,534 Anthem Marketplace Phase II 204 — 502 — 204 502 706 Bissonnet Beltway 415 1,947 529 — 415 2,476 2,891 BLVD Place 63,893 90,942 2,091 — 63,893 93,033 156,926 The Citadel 472 1,777 3,081 — 472 4,858 5,330 City View Village 2,044 4,149 108 — 2,044 4,257 6,301 Davenport Village 11,367 34,101 1,367 — 11,367 35,468 46,835 Desert Canyon 1,976 1,704 922 — 1,976 2,626 4,602 Eldorado Plaza 16,551 30,746 444 — 16,551 31,190 47,741 Fountain Hills Plaza 5,113 15,340 378 — 5,113 15,718 20,831 Fountain Square 5,573 9,828 2,662 — 5,573 12,490 18,063 Fulton Ranch Towne Center 7,604 22,612 2,636 — 7,604 25,248 32,852 Gilbert Tuscany Village 1,767 3,233 1,622 — 1,767 4,855 6,622 Gilbert Tuscany Village Hard Corner 856 794 169 — 856 963 1,819 Heritage Trace Plaza 6,209 13,821 905 — 6,209 14,726 20,935 Headquarters Village 7,171 18,439 1,670 — 7,171 20,109 27,280 Keller Place 5,977 7,577 873 — 5,977 8,450 14,427 Kempwood Plaza 733 1,798 2,295 — 733 4,093 4,826 La Mirada 12,853 24,464 1,320 — 12,853 25,784 38,637 Las Colinas Village 16,706 18,098 192 — 16,706 18,290 34,996 Lion Square 1,546 4,289 4,600 — 1,546 8,889 10,435 The Marketplace at Central 1,305 5,324 1,442 — 1,305 6,766 8,071 Market Street at DC Ranch 9,710 26,779 8,684 — 9,710 35,463 45,173 Mercado at Scottsdale Ranch 8,728 12,560 1,666 — 8,728 14,226 22,954 Paradise Plaza 6,155 10,221 1,360 — 6,155 11,581 17,736 Parkside Village North 3,877 8,629 192 — 3,877 8,821 12,698 Parkside Village South 5,562 27,154 520 — 5,562 27,674 33,236 Pima Norte 1,086 7,162 2,835 — 1,086 9,997 11,083 Pinnacle of Scottsdale 6,648 22,466 1,838 — 6,648 24,304 30,952 Pinnacle of Scottsdale Phase II 883 4,659 2,719 — 883 7,378 8,261 The Promenade at Fulton Ranch 5,198 13,367 671 — 5,198 14,038 19,236 Providence 918 3,675 2,710 — 918 6,385 7,303 Quinlan Crossing 9,561 28,683 904 — 9,561 29,587 39,148 Seville 6,913 25,518 976 — 6,913 26,494 33,407 Shaver 184 633 140 — 184 773 957 Shops at Pecos Ranch 3,781 15,123 680 — 3,781 15,803 19,584 Shops at Starwood 4,093 11,487 774 — 4,093 12,261 16,354 Shops at Starwood Phase III 1,818 7,069 3,516 — 1,818 10,585 12,403 The Shops at Williams Trace 5,920 14,297 1,011 — 5,920 15,308 21,228 South Richey 778 2,584 2,113 — 778 4,697 5,475 Spoerlein Commons 2,340 7,296 1,022 — 2,340 8,318 10,658 The Strand at Huebner Oaks 5,805 12,335 844 — 5,805 13,179 18,984 SugarPark Plaza 1,781 7,125 1,344 — 1,781 8,469 10,250 Sunridge 276 1,186 562 — 276 1,748 2,024 Sunset at Pinnacle Peak 3,610 2,734 758 — 3,610 3,492 7,102 Terravita Marketplace 7,171 9,392 906 — 7,171 10,298 17,469 Town Park 850 2,911 443 — 850 3,354 4,204 Village Square at Dana Park 10,877 40,250 4,360 — 10,877 44,610 55,487 Costs Capitalized Subsequent Gross Amount at which Carried at Initial Cost (in thousands) to Acquisition (in thousands) End of Period (in thousands) (1) (2) Building and Improvements Carrying Building and Property Name Land Improvements (net) Costs Land Improvements Total Westchase 423 1,751 3,356 — 423 5,107 5,530 Williams Trace Plaza 6,800 14,003 1,651 — 6,800 15,654 22,454 Windsor Park 2,621 10,482 8,664 — 2,621 19,146 21,767 Woodlake Plaza 1,107 4,426 3,393 — 1,107 7,819 8,926 Total Whitestone Properties $ 305,725 $ 688,999 $ 92,548 $ — $ 305,725 $ 781,547 $ 1,087,272 Land Held for Development: BLVD Place Phase II-B 10,500 — 14 2,692 10,500 2,706 13,206 Dana Park Development 4,000 — 26 — 4,000 26 4,026 Eldorado Plaza Development 911 — 30 — 911 30 941 Fountain Hills 277 — — — 277 — 277 Market Street at DC Ranch 704 — — — 704 — 704 Total - Land Held for Development $ 16,392 $ — $ 70 $ 2,692 $ 16,392 $ 2,762 $ 19,154 Grand Totals - Whitestone Properties $ 322,117 $ 688,999 $ 92,618 $ 2,692 $ 322,117 $ 784,309 $ 1,106,426 Accumulated Depreciation Date of Date Depreciation Property Name Encumbrances (in thousands) Construction Acquired Life Whitestone Properties: Ahwatukee Plaza $ 1,062 8/16/2011 5-39 years Anthem Marketplace (3) 3,749 6/28/2013 5-39 years Anthem Marketplace Phase II 77 3/1/2019 5-39 years Bissonnet Beltway 2,055 1/1/1999 5-39 years BLVD Place (4) 8,857 5/26/2017 5-39 years The Citadel 2,335 9/28/2010 5-39 years City View Village 658 3/31/2015 5-39 years Davenport Village 5,589 5/27/2015 5-39 years Desert Canyon 950 4/13/2011 5-39 years Eldorado Plaza 2,937 5/3/2017 5-39 years Fountain Hills Plaza 2,999 10/7/2013 5-39 years Fountain Square 3,246 9/21/2012 5-39 years Fulton Ranch Towne Center 3,993 11/5/2014 5-39 years Gilbert Tuscany Village 2,001 6/28/2011 5-39 years Gilbert Tuscany Village Hard Corner 182 8/28/2015 5-39 years Heritage Trace Plaza 2,615 7/1/2014 5-39 years Headquarters Village (5) 4,336 3/28/2013 5-39 years Keller Place 1,300 8/26/2015 5-39 years Kempwood Plaza 2,034 2/2/1999 5-39 years La Mirada 3,061 9/30/2016 5-39 years Las Colinas Village 507 12/6/2019 5-39 years Lion Square 5,686 1/1/2000 5-39 years The Marketplace at Central 2,221 11/1/2010 5-39 years Market Street at DC Ranch 8,685 12/5/2013 5-39 years Mercado at Scottsdale Ranch 3,083 6/19/2013 5-39 years Paradise Plaza 2,931 8/8/2012 5-39 years Parkside Village North 1,312 7/2/2015 5-39 years Parkside Village South 3,956 7/2/2015 5-39 years Pima Norte 3,508 10/4/2007 5-39 years Pinnacle of Scottsdale (6) 6,105 12/22/2011 5-39 years Pinnacle of Scottsdale Phase II 1,329 3/31/2017 5-39 years The Promenade at Fulton Ranch 2,391 11/5/2014 5-39 years Providence 2,858 3/30/2001 5-39 years Quinlan Crossing 4,231 8/26/2015 5-39 years Seville 2,961 9/30/2016 5-39 years Shaver 424 12/17/1999 5-39 years Shops at Pecos Ranch (7) 3,427 12/28/2012 5-39 years Shops at Starwood (8) 2,917 12/28/2011 5-39 years Shops at Starwood Phase III 1,589 12/31/2016 5-39 years The Shops at Williams Trace 2,541 12/24/2014 5-39 years South Richey 2,827 8/25/1999 5-39 years Spoerlein Commons 2,663 1/16/2009 5-39 years The Strand at Huebner Oaks 2,243 9/19/2014 5-39 years SugarPark Plaza 3,525 9/8/2004 5-39 years Sunridge 979 1/1/2002 5-39 years Sunset at Pinnacle Peak 1,030 5/29/2012 5-39 years Terravita Marketplace 2,673 8/8/2011 5-39 years Town Park 2,360 1/1/1999 5-39 years Village Square at Dana Park (9) 10,125 9/21/2012 5-39 years Westchase 2,578 1/1/2002 5-39 years Accumulated Depreciation Date of Date Depreciation Property Name Encumbrances (in thousands) Construction Acquired Life Williams Trace Plaza 2,396 12/24/2014 5-39 years Windsor Park 10,241 12/16/2003 5-39 years Woodlake Plaza 3,374 3/14/2005 5-39 years $ 163,712 Land Held for Development: BLVD Place Phase II-B — 5/26/2017 Land - Not Depreciated Dana Park Development — 9/21/2012 Land - Not Depreciated Eldorado Plaza Development — 12/29/2017 Land - Not Depreciated Fountain Hills — 10/7/2013 Land - Not Depreciated Market Street at DC Ranch — 12/5/2013 Land - Not Depreciated Total - Land Held For Development $ — Grand Totals - Whitestone Properties $ 163,712 (1) Reconciliations of total real estate carrying value for the three years ended December 31, follows (in thousands): 2020 2019 2018 Balance at beginning of period $ 1,099,955 $ 1,052,238 $ 1,149,454 Cumulative effect of accounting change for adoption of ASU 2017-05. — — (95,146) Additions during the period: Acquisitions — 34,804 — Improvements 7,613 13,474 11,638 7,613 48,278 (83,508) Deductions - cost of real estate sold or retired (1,142) (561) (13,708) Balance at close of period $ 1,106,426 $ 1,099,955 $ 1,052,238 (2) The aggregate cost of real estate for federal income tax purposes is $1.1 billion. (3) This property secures a $15.1 million mortgage note. (4) This property secures a $80.0 million mortgage note. (5) This property secures a $19.0 million mortgage note. (6) This property secures a $20.2 million mortgage note. (7) This property secures a $14.0 million mortgage note. (8) This property secures a $14.3 million mortgage note. (9) A portions of this property secures a $2.6 million mortgage note.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Consolidation	Basis of Consolidation. We are the sole general partner of the Operating Partnership and possess full legal control and authority over the operations of the Operating Partnership. As of December 31, 2020, 2019 and 2018, we owned a majority of the partnership interests in the Operating Partnership. Consequently, the accompanying consolidated financial statements include the accounts of the Operating Partnership. Noncontrolling interest in the accompanying consolidated financial statements represents the share of equity and earnings of the Operating Partnership allocable to holders of partnership interests other than us. Net income or loss is allocated to noncontrolling interests based on the weighted-average percentage ownership of the Operating Partnership during the year. Issuance of additional common shares of beneficial interest in Whitestone (the “common shares”) and units of limited partnership interest in the Operating Partnership that are convertible into cash or, at our option, common shares on a one-for-one basis (the “OP units”) changes the percentage of ownership interests of both the noncontrolling interests and Whitestone.
Profit-sharing Method	Profit-sharing Method. In accordance with the Financial Accounting Standards Board’s (“FASB”) guidance applicable to sales of real estate or interests therein, specifically FASB Accounting Standards Codification (“ASC”) 360-20, “Real Estate Sales,” Topic 606, “Revenue from Contracts with Customers” and ASC 610, “Other Income–Gains and Losses from the Derecognition of Nonfinancial Assets,” we did not recognize the sale of assets to Pillarstone OP in the Contribution (as defined in Note 5) and accounted for the transaction under the profit-sharing method for the year ended December 31, 2017. We recognized Pillarstone OP’s real estate assets and notes payables in our consolidated balance sheets. Additionally, the profits and losses of Pillarstone OP not attributable to the Company are reported as profit sharing expense. As a result of the adoption of Topic 606 and ASC 610, the Company derecognized the underlying assets and liabilities associated with the Contribution as of January 1, 2018 and recognized the Company’s investment in Pillarstone OP under the equity method.
Equity Method	Equity Method. For the years prior to December 31, 2017, Pillarstone OP was accounted for under the profit-sharing method. We adopted Topic 606 and ASC 610 as of January 1, 2018, resulting in the derecognition of the underlying assets and liabilities associated with the Contribution (defined in Note 5) as of January 1, 2018 and the recognition of the Company’s investment in Pillarstone OP under the equity method. See Note 5 for additional disclosure on Pillarstone OP. Noncontrolling Interests. Noncontrolling interests are the portion of equity in a subsidiary not attributable to a parent. The ownership interests not held by the parent are considered noncontrolling interests. Accordingly, we have reported noncontrolling interests in equity on the consolidated balance sheets but separate from Whitestone’s equity. On the consolidated statements of operations and comprehensive income (loss), subsidiaries are reported at the consolidated amount, including both the amount attributable to Whitestone and noncontrolling interests. Consolidated statements of changes in equity are included for both quarterly and annual financial statements, including beginning balances, activity for the period and ending balances for shareholders’ equity, noncontrolling interests and total equity.
Basis of Accounting	Basis of Accounting. Our financial records are maintained on the accrual basis of accounting whereby revenues are recognized when earned and expenses are recorded when incurred.
Use of Estimates	Use of Estimates. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates that we use include the estimated fair values of properties acquired, the estimated useful lives for depreciable and amortizable assets and costs, the grant date fair value of common share units included in share-based compensation expense, the estimated allowance for doubtful accounts, the estimated fair value of interest rate swaps and the estimates supporting our impairment analysis for the carrying values of our real estate assets. Actual results could differ from those estimates. In particular, the COVID-19 pandemic has adversely impacted and is likely to further adversely impact the Company’s business and markets, including the Company’s operations and the operations of its tenants. The full extent to which the pandemic will directly or indirectly impact the Company's business, results of operations and financial condition, including revenues, expenses, reserves and allowances, fair value measurements, and asset impairment charges, will depend on future developments that are highly uncertain and difficult to predict. These developments include, but are not limited to, the duration and spread of the pandemic, its severity in our markets and elsewhere, the impact on our tenants’ businesses and financial condition, governmental actions to contain the spread of the pandemic and respond to the reduction in global economic activity, and how quickly and to what extent normal economic and operating conditions can resume.
Reclassifications	Reclassifications. We have reclassified certain prior year amounts in the accompanying consolidated financial statements in order to be consistent with the current fiscal year presentation. Other than the effects noted below, these reclassifications had no effect on net income, total assets, total liabilities or equity.
Restricted Cash	Restricted Cash. We classify all cash pledged as collateral to secure certain obligations and all cash whose use is limited as restricted cash. During 2015, pursuant to the terms of our $15.1 million 4.99% Note, due January 6, 2024, which is collateralized by our Anthem Marketplace property, we were required by the lenders thereunder to establish a cash management account controlled by the lenders to collect all amounts generated by our Anthem Marketplace property in order to collateralize such promissory note.
Share-Based Compensation	Share-Based Compensation.   From time to time, we award nonvested restricted common share awards or restricted common share unit awards, which may be converted into common shares, to executive officers and employees under our 2018 Long-Term Equity Incentive Ownership Plan (the “2018 Plan”).  Awarded shares and units vest when certain performance conditions are met.  We recognize compensation expense when achievement of the performance conditions is probable based on management’s most recent estimates using the fair value of the shares as of the grant date.
Revenue Recognition	Revenue Recognition. All leases on our properties are classified as operating leases, and the related rental income is recognized on a straight-line basis over the terms of the related leases. Differences between rental income earned and amounts due per the respective lease agreements are capitalized or charged, as applicable, to accrued rents and accounts receivable. Percentage rents are recognized as rental income when the thresholds upon which they are based have been met. Recoveries from tenants for taxes, insurance, and other operating expenses are recognized as revenues in the period the corresponding costs are incurred. We combine lease and nonlease components in lease contracts, which includes combining base rent, recoveries, and percentage rents into a single line item, Rental , within the consolidated statements of operations and comprehensive income (loss). Additionally, we have tenants who pay real estate taxes directly to the taxing authority. We exclude these costs paid directly by the tenant to third parties on our behalf from revenue recognized and the associated property operating expense.
Cash and Cash Equivalents	Cash and Cash Equivalents.  We consider all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.  Cash and cash equivalents as of December 31, 2020 and 2019 consisted of demand deposits at commercial banks and brokerage accounts. We may have net book credit balances in our primary disbursement accounts at the end of a reporting period. We classify such credit balances as accounts payable in our consolidated balance sheets as checks presented for payment to these accounts are not payable by our banks under overdraft arrangements, and, therefore, do not represent short-term borrowings.
Marketable Securities	Marketable Securities. We classify our existing marketable equity securities as available-for-sale in accordance with the Financial Accounting Standards Board’s (“FASB”) Investments-Debt and Equity Securities guidance. These securities are carried at fair value with unrealized gains and losses reported in equity as a component of accumulated other comprehensive income or loss. The fair value of the marketable securities is determined using Level 1 inputs under FASB Accounting Standards Codification (“ASC”) 820, “ Fair Value Measurements and Disclosures.”
Development Properties	Development Properties.  Land, buildings and improvements are recorded at cost. Expenditures related to the development of real estate are carried at cost which includes capitalized carrying charges and development costs. Carrying charges (interest, real estate taxes, loan fees, and direct and indirect development costs related to buildings under construction) are capitalized as part of construction in progress. The capitalization of such costs ceases when the property, or any completed portion, becomes available for occupancy.
Acquired Properties and Acquired Lease Intangibles	Acquired Properties and Acquired Lease Intangibles. We allocate the purchase price of the acquired properties to land, building and improvements, identifiable intangible assets and to the acquired liabilities based on their respective fair values at the time of purchase. Identifiable intangibles include amounts allocated to acquired out-of-market leases, the value of in-place leases and customer relationship value, if any. We determine fair value based on estimated cash flow projections that utilize appropriate discount and capitalization rates and available market information. Estimates of future cash flows are based on a number of factors including the historical operating results, known trends and specific market and economic conditions that may affect the property. Factors considered by management in our analysis of determining the as-if-vacant property value include an estimate of carrying costs during the expected lease-up periods considering market conditions, and costs to execute similar leases. In estimating carrying costs, management includes real estate taxes, insurance and estimates of lost rentals at market rates during the expected lease-up periods, tenant demand and other economic conditions. Management also estimates costs to execute similar leases including leasing commissions, tenant improvements, legal and other related expenses. Intangibles related to out-of-market leases and in-place lease value are recorded as acquired lease intangibles and are amortized as an adjustment to rental revenue or amortization expense, as appropriate, over the remaining terms of the underlying leases. Premiums or discounts on acquired out-of-market debt are amortized to interest expense over the remaining term of such debt.
Depreciation	Depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of 5 to 39 years for improvements and buildings, respectively. Tenant improvements are depreciated using the straight-line method over the life of the improvement or remaining term of the lease, whichever is shorter.
Impairment	Impairment.  We review our properties for impairment at least annually or whenever events or changes in circumstances indicate that the carrying amount of the assets, including accrued rental income, may not be recoverable through operations.  We determine whether an impairment in value has occurred by comparing the estimated future cash flows (undiscounted and without interest charges), including the estimated residual value of the property, with the carrying cost of the property.  If impairment is indicated, a loss will be recorded for the amount by which the carrying value of the property exceeds its fair value.
Accrued Rents and Accounts Receivable	Accrued Rents and Accounts Receivable. Included in accrued rents and accounts receivable are base rents, tenant reimbursements and receivables attributable to recording rents on a straight-line basis. We review the collectability of charges under our tenant operating leases on a regular basis, taking into consideration changes in factors such as the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area where the property is located including the impact of the COVID-19 pandemic on tenants’ businesses and financial condition . With the adoption of ASC No. 842, Leases (“Topic 842”), as of January 1, 2019 we recognize an adjustment to rental revenue if we deem it probable that the receivable will not be collected. Prior to the adoption of Topic 842, we recognized an allowance for doubtful accounts and bad debt expense of the specific rents receivable. Our review of collectability under our operating leases includes any accrued rental revenues related to the straight-line method of reporting rental revenue.
Unamortized Lease Commissions and Loan Costs	Unamortized Lease Commissions and Loan Costs. Leasing commissions are amortized using the straight-line method over the terms of the related lease agreements. Loan costs are amortized on the straight-line method over the terms of the loans, which approximates the interest method. Costs allocated to in-place leases whose terms differ from market terms related to acquired properties are amortized over the remaining life of the respective leases.
Prepaids and Other Assets, Policy	Prepaids and Other Assets.  Prepaids and other assets include escrows established pursuant to certain mortgage financing arrangements for real estate taxes and insurance and acquisition deposits which include earnest money deposits on future acquisitions.
Federal Income and State Taxes	Federal Income Taxes. We elected to be taxed as a REIT under the Code beginning with our taxable year ended December 31, 1999. As a REIT, we generally are not subject to federal income tax on income that we distribute to our shareholders. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income tax on our taxable income at regular corporate rates. We believe that we are organized and operate in such a manner as to qualify to be taxed as a REIT, and we intend to operate so as to remain qualified as a REIT for federal income tax purposes. State Taxes. We are subject to the Texas Margin Tax, which is computed by applying the applicable tax rate (1% for us) to the profit margin, which, generally, will be determined for us as total revenue less a 30% standard deduction. Although the Texas Margin Tax is not considered an income tax, FASB ASC 740, “Income Taxes” (“ASC 740”)
Fair Value of Financial Instruments	Fair Value of Financial Instruments. Our financial instruments consist primarily of cash, cash equivalents, accounts receivable, accounts and notes payable and investments in marketable securities. The carrying value of cash, cash equivalents, accounts receivable and accounts payable are representative of their respective fair values due to their short-term nature. The fair value of our long-term debt, consisting of fixed rate secured notes, variable rate secured notes and an unsecured revolving credit facility aggregate to approximately $646.4 million and $653.7 million as compared to the book value of approximately $645.2 million and $645.9 million as of December 31, 2020 and 2019, respectively. The fair value of our long-term debt is estimated on a Level 2 basis (as provided by ASC 820, “Fair Value Measurements and Disclosures ” (“ASC 820”)), using a discounted cash flow analysis based on the borrowing rates currently available to us for loans with similar terms and maturities, discounting the future contractual interest and principal payments. The fair value of our loan guarantee to Pillarstone OP is estimated on a Level 3 basis (as provided by ASC 820, “ Fair Value Measurements and Disclosures” ), using a probability-weighted discounted cash flow analysis based on a discount rate, discounting the loan balance. The fair value of the loan guarantee is $0.1 million and $0.1 million as compared to the book value of approximately $0.1 million and $0.1 million as of December 31, 2020 and 2019, respectively. Disclosure about fair value of financial instruments is based on pertinent information available to management as of December 31, 2020 and 2019. Although management is not aware of any factors that would significantly affect the fair value amounts, such amounts have not been comprehensively revalued for purposes of these financial statements since December 31, 2020 and current estimates of fair value may differ significantly from the amounts presented herein.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities. We utilize derivative financial instruments, principally interest rate swaps, to manage our exposure to fluctuations in interest rates. We have established policies and procedures for risk assessment, and the approval, reporting and monitoring of derivative financial instruments. We recognize our interest rate swaps as cash flow hedges with the effective portion of the changes in fair value recorded in comprehensive income (loss) and subsequently reclassified into earnings in the period that the hedged transaction affects earnings. Any ineffective portion of a cash flow hedge’s change in fair value is recorded immediately into earnings. Our cash flow hedges are determined using Level 2 inputs under ASC 820. Level 2 inputs represent quoted prices in active markets for similar assets or liabilities; quoted prices in markets that are not active; and model-derived valuations whose inputs are observable. As of December 31, 2020, we consider our cash flow hedges to be highly effective.
Concentration of Risk	Concentration of Risk. Substantially all of our revenues are obtained from office and retail locations in the Austin, Chicago, Dallas-Fort Worth, Houston, Phoenix and San Antonio metropolitan areas. We maintain cash accounts in major U.S. financial institutions. The terms of these deposits are on demand to minimize risk. The balances of these accounts sometimes exceed the federally insured limits, although no losses have been incurred in connection with these deposits.
Recent Accounting Pronouncements	Recent Accounting Pronouncements. In April 2020, the FASB issued guidance on the application of Topic 842, relating to concessions being made by lessors in response to the COVID-19 pandemic. The guidance notes that it would be acceptable for entities to make an election to account for lease concessions relating to the effects of the COVID-19 pandemic consistent with how those concessions would be accounted for under Topic 842 as though enforceable rights and obligations for those concessions existed, even if such enforceable rights and obligations are not explicitly contained in the lease contract. Thus, for concessions relating to the COVID-19 pandemic, an entity would not have to analyze each contract to determine whether enforceable rights and obligations for concessions exist in the contract, and would have the option to apply, or not to apply, the general lease modification guidance in Topic 842 as it stands. We have elected this option to account for lease concessions relating to the effects of the COVID-19 pandemic consistent with how those concessions would be accounted for under Topic 842 as though enforceable rights and obligations for those concessions existed. Therefore, such concessions are not accounted for as a lease modification under Topic 842. In May 2014, the FASB issued guidance, as amended in subsequent updates, establishing a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and superseded most of the existing revenue recognition guidance. The standard also required an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also required certain additional disclosures. This guidance became effective for the reporting periods beginning on or after December 15, 2017, and interim periods within those fiscal years. We adopted this guidance on a modified retrospective basis beginning January 1, 2018 and have derecognized the underlying assets and liabilities associated with the Contribution as of January 1, 2018 and have recognized the Company’s investment in Pillarstone OP under the equity method of accounting. The Company made an adjustment which decreased the Company’s accumulated deficit as of January 1, 2018 by $19.1 million. See Note 5 for further details. In February 2016, FASB issued ASU No. 2016-2 which provided the principles for the recognition, measurement, presentation and disclosure of leases. Additional guidance and targeted improvements to Topic 842 were made through the issuance of supplementary ASUs in July 2018, December 2018 and March 2019. Effective January 1, 2019, we adopted the new lease accounting guidance in Topic 842. As the lessee and lessor, we have elected the package of practical expedients permitted in Topic 842. Accordingly, we have accounted for our existing operating leases as operating leases under the new guidance, without reassessing (a) whether the contract contains a lease under Topic 842, (b) whether classification of the operating lease would be different in accordance with Topic 842, or (c) whether the unamortized initial direct costs before transition adjustments (as of December 31, 2018) would have met the definition of initial direct costs in Topic 842 at lease commencement. Additionally, as the lessee and lessor we will use hindsight in determining the lease term and in assessing impairment of our right-of-use assets. As a result of the adoption of the new lease accounting guidance, as the lessee, we recognized on January 1, 2019 (a) a lease liability of approximately $1.1 million, which represents the present value of the remaining lease payments of approximately $1.2 million discounted using our incremental borrowing rate of 4.5%, and (b) a right-of-use asset of approximately $1.1 million. The adoption of Topic 842 did not have a material impact to our net income and related per share amounts. Upon adoption of Topic 842, lessees and lessors are required to apply a modified retrospective transition approach. Reporting entities are permitted to choose one of two methods to recognize and measure leases within the scope of Topic 842: • Apply Topic 842 to each lease that existed at the beginning of the earliest comparative period presented in the financial statements as well as leases that commenced after that date. Under this method, prior comparative periods presented are adjusted. For leases that commenced prior to the beginning of the earliest comparative period presented, a cumulative-effect adjustment is recognized at that date. • Apply the guidance to each lease that had commenced as of the beginning of the reporting period in which the entity first applies the lease standard with a cumulative-effect adjustment as of that date. Prior comparative periods would not be adjusted under this method. We have elected an optional transition method that allows entities to initially apply Topic 842 at January 1, 2019, the date of adoption, and to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. As the lessor, we have not assessed unamortized legal costs as part of the package of practical expedients, and we will not make any adjustment to retained earnings at the date of adoption to write off unamortized legal costs. We will continue to amortize unamortized legal costs as of December 31, 2018 over the life of the respective leases. We did not have a cumulative-effect adjustment as of the adoption date. Additionally, the optional transition method does allow us to not have to apply the new standard (including disclosure requirements) to comparative periods presented. Those periods can continue to be presented in accordance with prior generally accepted accounting principles. Topic 842 requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases and operating leases. Based on our election of the package of practical expedients, our existing commercial leases, where we are the lessor, continue to be accounted for as operating leases under the new standard. However, Topic 842 changed certain requirements regarding the classification of leases that could result in us recognizing certain long-term leases entered into or modified after January 1, 2019 as sales-type leases or finance leases, as opposed to operating leases. We will continue to monitor our leases following the adoption date to ensure that they are classified in accordance with the new lease standards. We elected a practical expedient which allows lessors to not separate non-lease components from the lease component when the timing and pattern of transfer for the lease components and non-lease components are the same and if the lease component is classified as an operating lease. As a result, we now present all rentals and reimbursements from tenants as a single line item, Rental , within the consolidated statements of operations and comprehensive income (loss). We review the collectability of charges under our tenant operating leases on a regular basis, taking into consideration changes in factors such as the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area where the property is located, including the impact of the COVID-19 pandemic on tenants’ businesses and financial condition. Each tenant is included in one of several portfolios and an allowance is calculated using the calculation methodology for the respective portfolio. With the adoption of Topic 842, we will recognize an adjustment to rental revenue if we deem it probable that the receivable will not be collected. Prior to the adoption of Topic 842, we recognized an allowance for doubtful accounts and bad debt expense of the specific rents receivable. Our review of collectability under our operating leases includes any accrued rental revenues related to the straight-line method of reporting rental revenue. In November 2016, the FASB issued guidance requiring that the statement of cash flows explain the change during the period in the total cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This guidance became effective for the reporting periods beginning on or after December 15, 2017, and interim periods within those fiscal years. We adopted this guidance effective January 1, 2018, and we have reconciled cash and cash equivalents and restricted cash and restricted cash equivalents on a retrospective basis, whereas under the previous guidance, we reported restricted cash and restricted cash equivalents under cash flows from financing activities. In January 2017, the FASB issued guidance clarifying the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or dispositions) of assets or businesses. This guidance became effective for the reporting periods beginning on or after December 15, 2017, and interim periods within those fiscal years. We adopted this guidance on a prospective basis beginning January 1, 2018 and believe the majority of our future acquisitions will qualify as asset acquisitions and the associated transaction costs will be capitalized as opposed to expensed under previous guidance. For the year ending December 31, 2019, we capitalized $0.1 million in associated transaction costs. In February 2017, the FASB issued guidance clarifying the scope of asset derecognition guidance, adding guidance for partial sales of nonfinancial assets and clarifying recognizing gains and losses from the transfer of nonfinancial assets in contracts with noncustomers. This guidance became effective for the reporting periods beginning on or after December 15, 2017, and interim periods within those fiscal years. We adopted this guidance on a modified retrospective basis beginning January 1, 2018 and have derecognized the underlying assets and liabilities associated with the Contribution as of January 1, 2018 and have recognized the Company’s investment in Pillarstone OP under the equity method of accounting. The Company made an adjustment which decreased the Company’s accumulated deficit as of January 1, 2018 by $19.1 million. See Note 5 for further details.

Real Estate (Tables)

Real Estate (Tables)	12 Months Ended
	Dec. 31, 2020
Real Estate [Abstract]
Schedule of pro forma results of operations	Year Ended December 31, (in thousands, except per share data) 2020 2019 2018 Total revenues $ 117,915 $ 122,286 $ 123,243 Net income $ 6,151 $ 24,047 $ 21,876 Net income attributable to Whitestone REIT (1) $ 6,034 $ 23,502 $ 21,326 Basic Earnings Per Share: $ 0.14 $ 0.58 $ 0.54 Diluted Earnings Per Share: $ 0.14 $ 0.57 $ 0.52 Weighted-average common shares outstanding: Basic (2) 42,244 40,184 39,274 Diluted (2) 42,990 41,462 40,612 (1) Net income attributable to Whitestone REIT reflects historical ownership percentages and does not reflect the effects of the April 2017 Offering (as defined in Note 14), assuming the sale of the common shares took place on January 1, 2017, as the related impact on ownership percentage is minimal. (2) Pro forma weighted averages reflect the April 2017 Offering, assuming the sale of the common shares took place on January 1, 2017.

Investment in Real Estate Par_2

Investment in Real Estate Partnership (Tables)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Equity Method Investments	The table below presents the real estate partnership investment in which the Company held an ownership interest (in thousands): The Company’s Investment as of December 31, 2020 2019 Real estate partnership Ownership Interest Pillarstone OP (1)(2) 81.4% $ 33,979 $ 34,097 Total real estate partnership (3) $ 33,979 $ 34,097 (1) The Company manages these real estate partnership investments and, where applicable, earns acquisition fees, leasing commissions, property management fees, and asset management fees. (2) As of December 31, 2017, the Company had a net deferred gain of $18.0 million relating to the sale of properties to Pillarstone OP prior to the adoption of ASU 2017-05. These deferred gains were included in the Company’s investment above. Upon adoption, the Company recorded a cumulative-effect adjustment of $19.1 million to its beginning accumulated deficit as of January 1, 2018 on the Company’s Consolidated Statements of Changes in Equity. (3) Representing eight property interests and 0.9 million square feet of GLA, as of December 31, 2020 and 2019. Summarized financial information for the Company’s investment in real estate partnership is as follows (in thousands): December 31, 2020 2019 Assets: Real estate, net $ 49,113 $ 50,338 Other assets 7,657 6,742 Total assets 56,770 57,080 Liabilities and equity: Notes payable 15,185 15,434 Other liabilities 3,533 3,575 Equity 38,052 38,071 Total liabilities and equity 56,770 57,080 Company’s share of equity 30,992 31,008 Cost of investment in excess of the Company’s share of underlying net book value 2,987 3,089 Carrying value of investment in real estate partnership $ 33,979 $ 34,097 Year Ended December 31, 2020 2019 2018 Rental revenues $ 9,672 $ 14,253 $ 17,180 Property expenses (6,858) (9,045) (6,687) Other expenses (1,440) (3,449) (7,848) Gain (loss) on sale of properties or disposal of assets (112) 16,943 7,839 Net income $ 1,262 $ 18,702 $ 10,484
Real Estate Investment Financial Statements, Disclosure	The table below presents the Company’s share of net income from its investment in the real estate partnership which is included in equity in earnings of real estate partnership, net on the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) (in thousands): Year Ended December 31, 2020 2019 2018 Pillarstone OP $ 921 $ 15,076 $ 8,431

Accrued Rents and Accounts Re_2

Accrued Rents and Accounts Receivable, Net (Tables)	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Schedule of Accrued Rent and Accounts Receivable, Net	Accrued rents and accounts receivable, net, consists of amounts accrued, billed and due from tenants, allowance for doubtful accounts and other receivables as follows (in thousands): December 31, 2020 2019 Tenant receivables $ 22,956 $ 16,741 Accrued rents and other recoveries 16,348 16,983 Allowance for doubtful accounts (16,426) (11,173) Other receivables 131 303 Totals $ 23,009 $ 22,854

Unamortized Lease Commissions_2

Unamortized Lease Commissions, Legal Fees and Loan Costs (Tables)	12 Months Ended
	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Unamortized Leasing Commissions and Loan Costs	Costs which have been deferred consist of the following (in thousands): December 31, 2020 2019 Leasing commissions $ 10,380 $ 9,868 Deferred legal cost 373 393 Deferred financing cost 3,898 3,908 Total cost 14,651 14,169 Less: leasing commissions accumulated amortization (5,029) (4,200) Less: deferred legal cost accumulated amortization (216) (179) Less: deferred financing cost accumulated amortization (1,720) (830) Total cost, net of accumulated amortization $ 7,686 $ 8,960
Schedule of Expected Future Amortization of Deferred Costs	A summary of expected future amortization of deferred costs is as follows (in thousands): Years Ended December 31, Leasing Commissions Deferred Legal Costs Deferred Financing Costs Total 2021 $ 1,271 $ 40 $ 889 $ 2,200 2022 1,106 32 827 1,965 2023 898 22 243 1,163 2024 696 19 189 904 2025 484 18 30 532 Thereafter 896 26 — 922 Total $ 5,351 $ 157 $ 2,178 $ 7,686

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Lessor, Minimum Future Rent Payments	A summary of minimum future rents to be received (exclusive of renewals, tenant reimbursements, contingent rents, and collectability adjustments under Topic 842) under noncancelable operating leases in existence as of December 31, 2020 is as follows (in thousands): Years Ended December 31, Minimum Future Rents (1) 2021 $ 81,372 2022 70,836 2023 59,509 2024 47,296 2025 32,939 Thereafter 97,199 Total $ 389,151 (1) These amounts do not reflect future rental revenues from the renewal or replacement of existing leases and exclude reimbursements of operating expenses and rental increases that are not fixed.
Lessee, Operating Lease, Liability, Maturity	The following table summarizes the fixed, future minimum rental payments, excluding variable costs, which are discounted by our weighted average incremental borrowing rates to calculate the lease liabilities for our operating leases in existence as of December 31, 2020 in which we are the lessee (in thousands): Years Ended December 31, Minimum Future Rents 2021 $ 447 2022 85 2023 39 2024 35 2025 29 Total undiscounted rental payments 635 Less imputed interest 32 Total lease liabilities $ 603

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Debt	Mortgages and other notes payable consist of the following (in thousands): December 31, Description 2020 2019 Fixed rate notes $10.5 million, 4.85% Note, paid off on September 24, 2020 (1) $ — $ 9,260 $100.0 million, 1.73% plus 1.35% to 1.90% Note, due October 30, 2022 (2) 100,000 100,000 $165.0 million, 2.24% plus 1.35% to 1.90% Note, due January 31, 2024 (3) 165,000 165,000 $80.0 million, 3.72% Note, due June 1, 2027 80,000 80,000 $19.0 million 4.15% Note, due December 1, 2024 18,687 19,000 $20.2 million 4.28% Note, due June 6, 2023 18,222 18,616 $14.0 million 4.34% Note, due September 11, 2024 13,236 13,482 $14.3 million 4.34% Note, due September 11, 2024 14,014 14,243 $15.1 million 4.99% Note, due January 6, 2024 14,165 14,409 $2.6 million 5.46% Note, due October 1, 2023 2,339 2,386 $50.0 million, 5.09% Note, due March 22, 2029 50,000 50,000 $50.0 million, 5.17% Note, due March 22, 2029 50,000 50,000 Floating rate notes Unsecured line of credit, LIBOR plus 1.40% to 1.90%, due January 31, 2023 (4) 119,500 109,500 Total notes payable principal 645,163 645,896 Less deferred financing costs, net of accumulated amortization (978) (1,197) $ 644,185 $ 644,699 (1) Promissory note includes an interest rate swap that fixed the interest rate at 3.55% for the duration of the term through September 24, 2018 and 4.85% beginning September 25, 2018 through September 24, 2020. The promissory note was paid off in September 2020. (2) Promissory note includes an interest rate swap that fixed the LIBOR portion of Term Loan 3 (as defined below) at 1.73%. (3) Promissory note includes an interest rate swap that fixed the LIBOR portion of the interest rate at an average rate of 2.24% for the duration of the term through January 31, 2024. (4) Unsecured line of credit includes certain Pillarstone Properties as of December 31, 2018, in determining the amount of credit available under the 2018 Facility which were released from collateral during 2019.
Schedule of Maturities of Debt	Scheduled maturities of our outstanding debt as of December 31, 2020 were as follows (in thousands): Year Amount Due 2021 $ 1,829 2022 101,683 2023 147,363 2024 228,573 2025 17,143 Thereafter 148,572 Total $ 645,163
Schedule of Contractual Obligations	As of December 31, 2020, we had the following contractual obligations (in thousands): Payment due by period (in thousands) Consolidated Contractual Obligations Less than 1 1 - 3 years 3 - 5 years More than Long-Term Debt - Principal $ 645,163 $ 1,829 $ 249,046 $ 245,716 $ 148,572 Long-Term Debt - Fixed Interest 85,931 21,301 37,830 16,281 10,519 Long-Term Debt - Variable Interest (1) 9,918 4,959 4,959 — — Unsecured credit facility - Unused commitment fee (2) 679 326 353 — — Operating Lease Obligations 255 85 106 64 — Related Party Rent Lease Obligations 380 362 18 — — Total $ 742,326 $ 28,862 $ 292,312 $ 262,061 $ 159,091 (1) As of December 31, 2020, we had one loan totaling $119.5 million which bore interest at a floating rate. The variable interest rate payments are based on LIBOR plus 1.40% to LIBOR plus 1.90%, which reflects our new interest rates under the 2019 Facility. The information in the table above reflects our projected interest rate obligations for the floating rate payments based on one-month LIBOR as of December 31, 2020, of 0.15%.

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of activity and fair value of interest rate swaps	The estimated fair value of our interest rate swaps is as follows (in thousands): December 31, 2020 Balance Sheet Location Estimated Fair Value Prepaid expenses and other assets $ — Accounts payable and accrued expenses $ (14,663) December 31, 2019 Balance Sheet Location Estimated Fair Value Prepaid expenses and other assets $ 59 Accounts payable and accrued expenses $ (5,660) A summary of our interest rate swap activity is as follows (in thousands): Amount Recognized as Comprehensive Income (Loss) Location of Income (Loss) Recognized in Earnings Amount of Income (Loss) Recognized in Earnings (1) Year ended December 31, 2020 $ (9,062) Interest expense $ 3,578 Year ended December 31, 2019 $ (9,828) Interest expense $ 1,036 Year ended December 31, 2018 $ 1,192 Interest expense $ 646 (1) There was no ineffective portion of our interest rate swaps recognized in earnings for the years ended December 31, 2020, 2019 and 2018.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Year Ended December 31, (in thousands, except per share data) 2020 2019 2018 Numerator: Income from continuing operations $ 6,151 $ 23,634 $ 21,981 Less: Net income attributable to noncontrolling interests (117) (511) (550) Distributions paid on unvested restricted shares — (41) (301) Income from continuing operations attributable to Whitestone REIT excluding amounts attributable to unvested restricted shares 6,034 23,082 21,130 Income from discontinued operations — 594 — Less: Net income attributable to noncontrolling interests — (34) — Income from discontinued operations attributable to Whitestone REIT — 560 — Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 6,034 $ 23,642 $ 21,130 Denominator: Weighted average number of common shares - basic 42,244 40,184 39,274 Effect of dilutive securities: Unvested restricted shares 746 1,278 1,338 Weighted average number of common shares - dilutive 42,990 41,462 40,612 Earnings Per Share: Basic: Income from continuing operations attributable to Whitestone REIT excluding amounts attributable to unvested restricted shares $ 0.14 $ 0.57 $ 0.54 Income from discontinued operations attributable to Whitestone REIT 0.00 0.02 0.00 Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 0.14 $ 0.59 $ 0.54 Diluted: Income from continuing operations attributable to Whitestone REIT excluding amounts attributable to unvested restricted shares $ 0.14 $ 0.56 $ 0.52 Income from discontinued operations attributable to Whitestone REIT 0.00 0.01 0.00 Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 0.14 $ 0.57 $ 0.52

Federal Income Taxes (Tables)

Federal Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Characterization of Cash Dividends Distrubuted for Income Tax Purpose	For federal income tax purposes, the cash distributions to shareholders are characterized as follows for the years ended December 31: 2020 2019 2018 Ordinary income (unaudited) 59.9 % 28.6 % 39.1 % Return of capital (unaudited) 40.1 % 19.4 % 26.5 % Capital gain distributions (unaudited) — % 52.0 % 34.4 Total 100.0 % 100.0 % 100.0 %

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table presents the revenue and expenses with Pillarstone OP included in our consolidated statements of operations and comprehensive income (loss) for the years ended December 31, 2020, 2019 and 2018 (in thousands): Location of Revenue (Expense) 2020 2019 2018 Rent Operating and maintenance $ (932) $ (813) $ (779) Property management fee income Management, transaction, and other fees $ 598 $ 856 $ 1,008 Interest income Interest, dividend and other investment income $ — $ 171 $ 582

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Schedule of Distributions	The following table reflects the total distributions we have paid (including the total amount paid and the amount paid per share) in each indicated quarter (in thousands, except per share data): Common Shares Noncontrolling OP Unit Holders Total Quarter Paid Distribution Per Common Share Total Amount Paid Distribution Per OP Unit Total Amount Paid Total Amount Paid 2020 Fourth Quarter $ 0.1050 $ 4,432 $ 0.1050 $ 81 $ 4,513 Third Quarter 0.1050 4,430 0.1050 81 4,511 Second Quarter 0.1050 4,413 0.1050 91 4,504 First Quarter 0.2850 11,928 0.2850 258 12,186 Total $ 0.6000 $ 25,203 $ 0.6000 $ 511 $ 25,714 2019 Fourth Quarter $ 0.2850 $ 11,580 $ 0.2850 $ 262 $ 11,842 Third Quarter 0.2850 11,430 0.2850 264 11,694 Second Quarter 0.2850 11,316 0.2850 265 11,581 First Quarter 0.2850 11,301 0.2850 264 11,565 Total $ 1.1400 $ 45,627 $ 1.1400 $ 1,055 $ 46,682

Incentive Share Plan (Tables)

Incentive Share Plan (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Share-Based Incentive Plan Activity	A summary of the share-based incentive plan activity as of and for the year ended December 31, 2020 is as follows: Shares Weighted-Average Grant Date Fair Value (1) Non-vested at January 1, 2020 2,339,932 $ 11.52 Granted 1,108,014 5.76 Vested (511,621) 10.88 Forfeited (32,479) 10.80 Non-vested at December 31, 2020 2,903,846 $ 9.45 Available for grant at December 31, 2020 375,046 (1) The fair value of the shares granted were determined based on observable market transactions occurring near the date of the grants.
Schedule of Nonvested and Vested Shares Activity	A summary of our nonvested and vested shares activity for the years ended December 31, 2020, 2019 and 2018 is presented below: Shares Granted Shares Vested Year Ended Non-Vested Shares Issued Weighted-Average Grant-Date Fair Value Vested Shares Total Vest-Date Fair Value (in thousands) Year Ended December 31, 2020 1,108,014 $ 5.76 (511,621) $ 5,566 Year Ended December 31, 2019 762,630 $ 9.46 (284,964) $ 3,352 Year Ended December 31, 2018 653,472 $ 11.07 (560,126) $ 7,978

Selected Quarterly Financial _2

Selected Quarterly Financial Data (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information	The following is a summary of our unaudited quarterly financial information for the years ended December 31, 2020 and 2019 (in thousands, except per share data): First Second Third Fourth Quarter Quarter Quarter Quarter 2020 Revenues $ 30,584 $ 27,597 $ 29,900 $ 29,834 Net income $ 1,647 $ 419 $ 914 $ 3,171 Net income attributable to Whitestone REIT $ 1,612 $ 410 $ 900 $ 3,112 Basic Earnings per share: Net income attributable to common shareholders, excluding amounts attributable to unvested restricted shares (1) $ 0.04 $ 0.01 $ 0.02 $ 0.07 Diluted Earnings per share: Net income attributable to common shareholders, excluding amounts attributable to unvested restricted shares (1) $ 0.04 $ 0.01 $ 0.02 $ 0.07 2019 Revenues $ 29,694 $ 29,578 $ 29,879 $ 30,100 Net income $ 2,839 $ 3,404 $ 1,849 $ 16,136 Net income attributable to Whitestone REIT $ 2,774 $ 3,327 $ 1,807 $ 15,776 Basic Earnings per share: Income from continuing operations attributable to Whitestone REIT, excluding amounts attributable to unvested restricted shares (1) $ 0.07 $ 0.06 $ 0.04 $ 0.39 Income from discontinued operations attributable to Whitestone REIT (1) $ 0.00 $ 0.02 $ 0.00 0.00 Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares (1) $ 0.07 $ 0.08 $ 0.04 $ 0.39 Diluted Earnings per share: Income from continuing operations attributable to Whitestone REIT, excluding amounts attributable to unvested restricted shares (1) $ 0.07 $ 0.06 $ 0.04 $ 0.38 Income from discontinued operations attributable to Whitestone REIT (1) $ 0.00 $ 0.02 $ 0.00 (0.01) Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares (1) $ 0.07 $ 0.08 $ 0.04 $ 0.37 (1) The sum of individual quarterly basic and diluted earnings per share amounts may not agree with the year-to-date basic and diluted earning per share amounts as the result of each period’s computation being based on the weighted average number of common shares outstanding during that period.

Description of Business and N_2

Description of Business and Nature of Operations (Details) ft² in Millions	1 Months Ended	3 Months Ended
	Jul. 31, 2004shares	Dec. 31, 2020ft²property	Dec. 31, 2019property	Dec. 31, 2018property
Real Estate Properties [Line Items]
Reorganization and conversion, number of common shares (in shares) | shares	1.42857
Contractual base rent, percentage		95.00%
Wholly Owned Properties
Real Estate Properties [Line Items]
Number of properties		58	58	57
Gross leasable area (in square feet) | ft²		5
Retail Site | Community Centered Properties | Wholly Owned Properties
Real Estate Properties [Line Items]
Number of properties		52
Redevelopment, New Acquisitions Portfolio | Retail Site | Community Centered Properties | Wholly Owned Properties
Real Estate Properties [Line Items]
Number of properties		1
Redevelopment, New Acquisitions Portfolio | Land | Parcels Held for Future Development | Wholly Owned Properties
Real Estate Properties [Line Items]
Number of properties		5
Pillarstone Capital REIT Operating Partnership LP
Real Estate Properties [Line Items]
Ownership interest		81.40%
Pillarstone Capital REIT Operating Partnership LP | Unconsolidated Properties
Real Estate Properties [Line Items]
Number of properties		8
Gross leasable area (in square feet) | ft²		0.9

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Narrative (Details) ft² in Millions		12 Months Ended
		Dec. 31, 2020USD ($)ft²tenantpropertyshares	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jan. 01, 2019USD ($)	Dec. 31, 2017USD ($)	May 11, 2017shares	Dec. 31, 2015USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Conversion ratio for common stock to op unit | shares		1
Share-based compensation expense		$ 6,100,000	$ 6,500,000	$ 6,800,000
Interest expense capitalized		481,000	500,000	574,000
Real estate taxes capitalized		306,000	320,000	365,000
Allowance for doubtful accounts		(16,426,000)	(11,173,000)
Bad debt		5,649,000	1,484,000	1,391,000
Bad debt adjustment		(2,300,000)
Straight-line rent reserve adjustment		$ (1,200,000)
Number of tenants | tenant		102,000
Fair value of long-term debt		$ 646,400,000	653,700,000
Book value of long-term debt		645,200,000	645,900,000
Equity		338,326,000	353,098,000	359,150,000		$ 358,404,000
Operating lease liabilities		603,000	$ 1,331,000
Operating lease payments		$ 635,000
Lease, weighted average discount rate, percent		4.50%	4.50%
Operating lease right of use assets		$ 592,000	$ 1,328,000
Transaction costs		$ 0	100,000
Cumulative Effect, Period of Adoption, Adjustment
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity	[1]					19,119,000
2008 Long-Term Equity Incentive Ownership Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares) | shares							3,433,831
Pillarstone Capital REIT Operating Partnership LP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Ownership interest		81.40%
Pillarstone Capital REIT Operating Partnership LP | Level 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of long-term debt		$ 100,000	100,000
Book value of long-term debt		$ 100,000	100,000
Unconsolidated Properties | Pillarstone Capital REIT Operating Partnership LP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of properties | property		8
Gross leasable area (in square feet) | ft²		0.9
Accumulated Deficit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity		$ (215,809,000)	(204,049,000)	(181,361,000)		(176,684,000)
Accumulated Deficit | Cumulative Effect, Period of Adoption, Adjustment
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity	[1]					19,119,000
Accumulated Deficit | Pillarstone Capital REIT Operating Partnership LP | Cumulative Effect, Period of Adoption, Adjustment
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity						$ 19,100,000
Anthem Marketplace Note
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Face amount of debt								$ 15,100,000
Stated interest rate								4.99%
Building and Building Improvements | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated useful life		5 years
Building and Building Improvements | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated useful life		39 years
Texas | State and Local Jurisdiction
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Applicable tax rate used to determine state margin tax		1.00%
Standard deduction rate used to determine state margin tax		30.00%
Margin tax provision recognized		$ 400,000	$ 400,000	$ 400,000
ASU 2016-02
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Operating lease liabilities					$ 1,100,000
Operating lease payments					$ 1,200,000
Lease, weighted average discount rate, percent					4.50%
Operating lease right of use assets					$ 1,100,000
[1]	Represents the impact of change in accounting principal for our modified retrospective adoption of ASU 2014-09. See Note 2 of the notes to the consolidated financial statements for additional disclosure.

Marketable Securities (Details)

Marketable Securities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Marketable securities			$ 0
Proceeds from sales of marketable securities	$ 0	$ 0	30,000
Gross realized losses			$ 20,000

Real Estate Narrative (Details)

Real Estate Narrative (Details)	Oct. 23, 2020USD ($)	Dec. 06, 2019USD ($)ft²	Nov. 15, 2019USD ($)property	Apr. 24, 2019USD ($)property	Sep. 24, 2018USD ($)	Feb. 27, 2018USD ($)	Dec. 31, 2020USD ($)ft²property	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)ft²property	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2020USD ($)ft²property	Dec. 31, 2019USD ($)ft²property	Dec. 31, 2018USD ($)property
Real Estate Properties [Line Items]
Revenues							$ 29,834,000	$ 29,900,000	$ 27,597,000	$ 30,584,000	$ 30,100,000	$ 29,879,000	$ 29,578,000	$ 29,694,000	$ 117,915,000	$ 119,251,000	$ 119,863,000
Net income							$ 3,112,000	900,000	$ 410,000	$ 1,612,000	$ 15,776,000	$ 1,807,000	$ 3,327,000	$ 2,774,000	6,034,000	23,683,000	21,431,000
Payments to acquire property															0	34,804,000	0
Gain on property dispositions															$ 1,370,000	$ 638,000	$ 4,547,000
Anthem Marketplace Phase II
Real Estate Properties [Line Items]
Area of real estate property | ft²							6,853								6,853
Concentration Risk, Percentage															100.00%
Construction costs incurred							$ 1,400,000								$ 1,400,000
Las Colinas Village
Real Estate Properties [Line Items]
Area of real estate property | ft²		104,919
Concentration Risk, Percentage		86.00%
Consideration transferred		$ 34,800,000
Pinnacle of Scottsdale Phase II
Real Estate Properties [Line Items]
Area of real estate property | ft²											27,063					27,063
Concentration Risk, Percentage																100.00%
Construction costs incurred											$ 5,500,000					$ 5,500,000
Capitalized interest and real estate taxes											$ 600,000					$ 600,000
Shops at Starwood Phase III
Real Estate Properties [Line Items]
Area of real estate property | ft²											35,351					35,351
Concentration Risk, Percentage																72.00%
Construction costs incurred								8,400,000
Capitalized interest and real estate taxes								$ 1,100,000
Torrey Square
Real Estate Properties [Line Items]
Proceeds from sale of real estate					$ 8,700,000
Gain on property dispositions					$ 4,400,000
Bellnot Square
Real Estate Properties [Line Items]
Proceeds from sale of real estate						$ 4,700,000
Gain on property dispositions						$ 300,000
Webster Pointe and Centre South
Real Estate Properties [Line Items]
Number of properties | property			2
Proceeds from sale of real estate			$ 800,000
Gain on property dispositions			800,000
Deferred gain on sale of property			$ 1,700,000
Zeta, Royal Crest and Featherwood
Real Estate Properties [Line Items]
Number of properties | property				3
Proceeds from sale of real estate				$ 700,000
Gain on property dispositions				700,000
Deferred gain on sale of property				$ 2,500,000
Centre South
Real Estate Properties [Line Items]
Proceeds from sale of real estate	$ 500,000
Gain on property dispositions	$ 500,000
Wholly Owned Properties
Real Estate Properties [Line Items]
Number of properties | property							58				58				58	58	57
Gross leasable area (in square feet) | ft²							5,000,000								5,000,000
Parcels Held for Future Development | Land | Wholly Owned Properties | Redevelopment, New Acquisitions Portfolio
Real Estate Properties [Line Items]
Number of properties | property							5								5

Real Estate Pro Forma Results o

Real Estate Pro Forma Results of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Real Estate [Abstract]
Total revenues	$ 117,915	$ 122,286	$ 123,243
Net income	6,151	24,047	21,876
Net income attributable to Whitestone REIT	$ 6,034	$ 23,502	$ 21,326
Basic Earnings Per Share (in dollars per share)	$ 0.14	$ 0.58	$ 0.54
Diluted Earnings Per Share (in dollars per share)	$ 0.14	$ 0.57	$ 0.52
Weighted-average common shares outstanding:
Basic (in shares)	42,244,000	40,184,000	39,274,000
Diluted (in shares)	42,990,000	41,462,000	40,612,000

Investment in Real Estate Par_3

Investment in Real Estate Partnership - Narrative (Details) $ / shares in Units, $ in Thousands	Oct. 08, 2019USD ($)property	Dec. 27, 2018USD ($)property	Dec. 08, 2016USD ($)propertysubsidiary$ / shares	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Variable Interest Entity [Line Items]
Repayments of notes payable				$ 12,164	$ 8,095	$ 2,543
Notes payable				$ 644,185	644,699
Pillarstone Variable Interest Entity
Variable Interest Entity [Line Items]
Number of wholly-owned subsidiaries | subsidiary			4
Number of non-core properties | property			14
Consideration amount			$ 84,000
Consideration, limited partnership interest			$ 18,100
Consideration, limited partnership interest (in dollars per share) | $ / shares			$ 1.331
Liabilities assumed			$ 65,900
Property management fee, percent fee			5.00%
Asset management fee, percent fee			0.125%
Uptown Tower | Pillarstone Variable Interest Entity
Variable Interest Entity [Line Items]
Property management fee, percent fee			3.00%
Asset management fee, percent fee			0.125%
Line of Credit | Pillarstone Variable Interest Entity
Variable Interest Entity [Line Items]
Liabilities assumed			$ 15,500
Notes Payable | Uptown Tower Promissory Note | Pillarstone Variable Interest Entity
Variable Interest Entity [Line Items]
Liabilities assumed			16,300
Notes Payable | Industrial-Office Promissory Note | Pillarstone Variable Interest Entity
Variable Interest Entity [Line Items]
Liabilities assumed			$ 34,100
Pillarstone Capital REIT Operating Partnership LP
Variable Interest Entity [Line Items]
Ownership interest				81.40%
Amortization of the basis difference between the cost of investment and the Company's share of underlying net book value				$ 108	108
Pillarstone Capital REIT Operating Partnership LP | Consolidation, Eliminations
Variable Interest Entity [Line Items]
Distribution amount	$ 5,400
Repayments of notes payable	5,700	$ 8,000
Notes payable	$ 15,500	$ 14,500
Pillarstone Capital REIT Operating Partnership LP | Three Properties in Houston, Texas
Variable Interest Entity [Line Items]
Number of properties | property	3	3
Proceeds from sale of real estate	$ 39,700	$ 15,800
Gain on sale of properties recognized	$ 13,800	$ 6,300
Performance Guarantee
Variable Interest Entity [Line Items]
Noncontingent liability				$ 462
Amortization period				7 years
Amortization of guarantee liability				$ 39	$ 182	$ 106

Investment in Real Estate Par_4

Investment in Real Estate Partnership - Unconsolidated Real Estate Partnership Investments (Details) $ in Thousands, ft² in Millions		Dec. 31, 2020USD ($)ft²property	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Schedule of Equity Method Investments [Line Items]
Investment in real estate partnership		$ 33,979	$ 34,097
Equity		338,326	353,098	$ 359,150	$ 358,404
Accumulated Deficit
Schedule of Equity Method Investments [Line Items]
Equity		$ (215,809)	(204,049)	$ (181,361)	(176,684)
Cumulative Effect, Period of Adoption, Adjustment
Schedule of Equity Method Investments [Line Items]
Equity	[1]				19,119
Cumulative Effect, Period of Adoption, Adjustment | Accumulated Deficit
Schedule of Equity Method Investments [Line Items]
Equity	[1]				19,119
Pillarstone Capital REIT Operating Partnership LP
Schedule of Equity Method Investments [Line Items]
Ownership interest		81.40%
Investment in real estate partnership		$ 33,979	$ 34,097
Deferred gain on sale of property					18,000
Pillarstone Capital REIT Operating Partnership LP | Cumulative Effect, Period of Adoption, Adjustment | Accumulated Deficit
Schedule of Equity Method Investments [Line Items]
Equity					$ 19,100
Pillarstone Capital REIT Operating Partnership LP | Unconsolidated Properties
Schedule of Equity Method Investments [Line Items]
Number of properties | property		8
Gross leasable area (in square feet) | ft²		0.9
[1]	Represents the impact of change in accounting principal for our modified retrospective adoption of ASU 2014-09. See Note 2 of the notes to the consolidated financial statements for additional disclosure.

Investment in Real Estate Par_5

Investment in Real Estate Partnership - Net Income from Investments in Real Estate Partnerships (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Equity in earnings of real estate partnership	$ 921	$ 15,076	$ 8,431
Pillarstone Capital REIT Operating Partnership LP
Schedule of Equity Method Investments [Line Items]
Equity in earnings of real estate partnership	$ 921	$ 15,076	$ 8,431

Investment in Real Estate Par_6

Investment in Real Estate Partnership - Summarized Financial Information for Investment in Real Estate Partnership - Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
ASSETS
Total assets	$ 1,045,002	$ 1,056,260
LIABILITIES AND EQUITY
Equity	338,326	353,098	$ 359,150	$ 358,404
Total liabilities and equity	1,045,002	1,056,260
Carrying value of investment in real estate partnership	33,979	34,097
Pillarstone Capital REIT Operating Partnership LP
LIABILITIES AND EQUITY
Carrying value of investment in real estate partnership	33,979	34,097
Pillarstone Capital REIT Operating Partnership LP | Equity Method Investment, Nonconsolidated Investee or Group of Investees
ASSETS
Real estate, net	49,113	50,338
Other assets	7,657	6,742
Total assets	56,770	57,080
LIABILITIES AND EQUITY
Notes payable	15,185	15,434
Other liabilities	3,533	3,575
Equity	38,052	38,071
Total liabilities and equity	56,770	57,080
Company’s share of equity	30,992	31,008
Cost of investment in excess of the Company’s share of underlying net book value	2,987	3,089
Carrying value of investment in real estate partnership	$ 33,979	$ 34,097

Investment in Real Estate Par_7

Investment in Real Estate Partnership - Summarized Financial Information for Investment in Real Estate Partnership - Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Revenues	$ 29,834	$ 29,900	$ 27,597	$ 30,584	$ 30,100	$ 29,879	$ 29,578	$ 29,694	$ 117,915	$ 119,251	$ 119,863
Net income	$ 3,171	$ 914	$ 419	$ 1,647	$ 16,136	$ 1,849	$ 3,404	$ 2,839	6,151	24,228	21,981
Pillarstone Capital REIT Operating Partnership LP | Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Revenues									9,672	14,253	17,180
Property expenses									(6,858)	(9,045)	(6,687)
Other expenses									(1,440)	(3,449)	(7,848)
Gain (loss) on sale of properties or disposal of assets									(112)	16,943	7,839
Net income									$ 1,262	$ 18,702	$ 10,484

Accrued Rents and Accounts Re_3

Accrued Rents and Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Receivables [Abstract]
Tenant receivables	$ 22,956	$ 16,741
Accrued rents and other recoveries	16,348	16,983
Allowance for doubtful accounts	(16,426)	(11,173)
Other receivables	131	303
Totals	$ 23,009	$ 22,854

Unamortized Lease Commissions_3

Unamortized Lease Commissions, Legal Fees and Loan Costs - Unamortized Leasing Commissions and Loan Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Leasing commissions	$ 10,380	$ 9,868
Deferred legal cost	373	393
Deferred financing cost	3,898	3,908
Total cost	14,651	14,169
Less: leasing commissions accumulated amortization	(5,029)	(4,200)
Less: deferred legal cost accumulated amortization	(216)	(179)
Less: deferred financing cost accumulated amortization	(1,720)	(830)
Total cost, net of accumulated amortization	$ 7,686	$ 8,960

Unamortized Lease Commissions_4

Unamortized Lease Commissions, Legal Fees and Loan Costs - Expected Future Amortization of Deferred Costs (Details) $ in Thousands	Dec. 31, 2020USD ($)
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Expected Amortization of Deferred Leasing Commissions Year 2021	$ 1,271
Expected Amortization of Deferred Leasing Commissions Year 2022	1,106
Expected Amortization of Deferred Leasing Commissions Year 2023	898
Expected Amortization of Deferred Leasing Commissions Year 2024	696
Expected Amortization of Deferred Leasing Commissions Year 2025	484
Expected Amortization of Deferred Leasing Commissions Thereafter	896
Expected Amortization of Deferred Leasing Commissions	5,351
Expected Amortization of Deferred Legal Costs Year 2021	40
Expected Amortization of Deferred Legal Costs Year 2022	32
Expected Amortization of Deferred Legal Costs Year 2023	22
Expected Amortization of Deferred Legal Costs Year 2024	19
Expected Amortization of Deferred Legal Costs Year 2025	18
Expected Amortization of Deferred Legal Costs Year Thereafter	26
Expected Amortization of Deferred Legal Costs	157
Expected Amortization of Deferred Financing Costs Year 2021	889
Expected Amortization of Deferred Financing Costs Year 2022	827
Expected Amortization of Deferred Financing Costs Year 2023	243
Expected Amortization of Deferred Financing Costs Year 2024	189
Expected Amortization of Deferred Financing Costs Year 2025	30
Expected Amortization of Deferred Financing Costs Thereafter	0
Expected Amortization of Deferred Financing Costs	2,178
Expected Amortization of Deferred Costs Year 2021	2,200
Expected Amortization of Deferred Costs Year 2022	1,965
Expected Amortization of Deferred Costs Year 2023	1,163
Expected Amortization of Deferred Costs Year 2024	904
Expected Amortization of Deferred Costs Year 2025	532
Expected Amortization of Deferred Costs Thereafter	922
Expected Amortization of Deferred Costs	$ 7,686

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Lease, weighted average remaining lease term	2 years 1 month 6 days	1 year 8 months 12 days
Lease cost	$ 1,077	$ 952
Lease, weighted average discount rate, percent	4.50%	4.50%
Office Space, Automobile, and Office Machine | Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Office Space, Automobile, and Office Machine | Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	5 years

Leases - Lessor, Minimum Future

Leases - Lessor, Minimum Future Rent Payments (Topic 842) (Details) $ in Thousands	Dec. 31, 2020USD ($)
Lessor, Operating Lease, Payments, Fiscal Year Maturity (Topic 842) [Abstract]
2021	$ 81,372
2022	70,836
2023	59,509
2024	47,296
2025	32,939
Thereafter	97,199
Total	$ 389,151

Leases - Lessee, Minimum Future

Leases - Lessee, Minimum Future Rent Payments (Topic 842) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating Lease Liabilities, Payments Due [Abstract]
2021	$ 447
2022	85
2023	39
2024	35
2025	29
Total undiscounted rental payments	635
Less imputed interest	32
Total lease liabilities	$ 603	$ 1,331

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Sep. 25, 2018	Sep. 24, 2018	May 26, 2017
Debt Instrument [Line Items]
Total notes payable principal	$ 645,163,000	$ 645,896,000
Less deferred financing costs, net of accumulated amortization	(978,000)	(1,197,000)
Long-term debt	644,185,000	644,699,000
Fixed Rate Notes | $10.5 million, 4.85% Note, due September 24, 2020
Debt Instrument [Line Items]
Total notes payable principal	0	9,260,000
Face amount of debt	$ 10,500,000
Stated interest rate	4.85%
Fixed Rate Notes | $100.0 million, 1.73% plus 1.65% to 2.25% Note, due October 30, 2022
Debt Instrument [Line Items]
Total notes payable principal	$ 100,000,000	100,000,000
Face amount of debt	$ 100,000,000
Imputed interest rate	1.73%
Fixed Rate Notes | $100.0 million, 1.73% plus 1.65% to 2.25% Note, due October 30, 2022 | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.35%
Fixed Rate Notes | $100.0 million, 1.73% plus 1.65% to 2.25% Note, due October 30, 2022 | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.90%
Fixed Rate Notes | $165.0 million, 2.24% plus 1.35% to 1.90% Note, due January 31, 2024
Debt Instrument [Line Items]
Total notes payable principal	$ 165,000,000	165,000,000
Face amount of debt	$ 165,000,000
Imputed interest rate	2.24%
Fixed Rate Notes | $165.0 million, 2.24% plus 1.35% to 1.90% Note, due January 31, 2024 | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.35%
Fixed Rate Notes | $165.0 million, 2.24% plus 1.35% to 1.90% Note, due January 31, 2024 | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.90%
Fixed Rate Notes | $80.0 million, 3.72% Note, due June 1, 2027
Debt Instrument [Line Items]
Total notes payable principal	$ 80,000,000	80,000,000
Face amount of debt	$ 80,000,000				$ 80,000,000
Stated interest rate	3.72%				3.72%
Fixed Rate Notes | $19.0 million 4.15% Note, due December 1, 2024
Debt Instrument [Line Items]
Total notes payable principal	$ 18,687,000	19,000,000
Face amount of debt	$ 19,000,000
Stated interest rate	4.15%
Fixed Rate Notes | $20.2 million 4.28% Note, due June 6, 2023
Debt Instrument [Line Items]
Total notes payable principal	$ 18,222,000	18,616,000
Face amount of debt	$ 20,200,000
Stated interest rate	4.28%
Fixed Rate Notes | $14.0 million 4.34% Note, due September 11, 2024
Debt Instrument [Line Items]
Total notes payable principal	$ 13,236,000	13,482,000
Face amount of debt	$ 14,000,000
Stated interest rate	4.34%
Fixed Rate Notes | $14.3 million 4.34% Note, due September 11, 2024
Debt Instrument [Line Items]
Total notes payable principal	$ 14,014,000	14,243,000
Face amount of debt	$ 14,300,000
Stated interest rate	4.34%
Fixed Rate Notes | $15.1 million 4.99% Note, due January 6, 2024
Debt Instrument [Line Items]
Total notes payable principal	$ 14,165,000	14,409,000
Face amount of debt	$ 15,100,000
Stated interest rate	4.99%
Fixed Rate Notes | $2.6 million 5.46% Note, due October 1, 2023
Debt Instrument [Line Items]
Total notes payable principal	$ 2,339,000	2,386,000
Face amount of debt	$ 2,600,000
Stated interest rate	5.46%
Fixed Rate Notes | $50.0 million, 5.09% Note, due March 22, 2029
Debt Instrument [Line Items]
Total notes payable principal	$ 50,000,000	50,000,000
Face amount of debt	$ 50,000,000
Stated interest rate	5.09%
Fixed Rate Notes | $50.0 million, 5.17% Note, due March 22, 2029
Debt Instrument [Line Items]
Total notes payable principal	$ 50,000,000	50,000,000
Face amount of debt	$ 50,000,000
Stated interest rate	5.17%
Floating Rate Notes
Debt Instrument [Line Items]
Long-term debt	$ 119,500,000
Floating Rate Notes | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.40%
Floating Rate Notes | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.90%
Floating Rate Notes | Unsecured line of credit, LIBOR plus 1.40% to 1.90%, due January 31, 2023
Debt Instrument [Line Items]
Total notes payable principal	$ 119,500,000	$ 109,500,000
Floating Rate Notes | Unsecured line of credit, LIBOR plus 1.40% to 1.90%, due January 31, 2023 | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.40%
Floating Rate Notes | Unsecured line of credit, LIBOR plus 1.40% to 1.90%, due January 31, 2023 | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.90%
Interest Rate Swap | $10.5 million, 4.85% Note, due September 24, 2020
Debt Instrument [Line Items]
Stated interest rate			4.85%	3.55%
Interest Rate Swap | $100.0 million, 1.73% plus 1.65% to 2.25% Note, due October 30, 2022
Debt Instrument [Line Items]
Stated interest rate	1.73%
Interest Rate Swap | $165.0 million, 2.24% plus 1.35% to 1.90% Note, due January 31, 2024
Debt Instrument [Line Items]
Stated interest rate	2.24%

Debt (Narrative) (Details)

Debt (Narrative) (Details)	Apr. 30, 2020USD ($)	Mar. 22, 2019USD ($)	Jan. 31, 2019USD ($)	Nov. 07, 2014USD ($)	Dec. 31, 2020USD ($)property	Mar. 31, 2020USD ($)	Mar. 20, 2020USD ($)	May 26, 2017USD ($)
Debt Instrument [Line Items]
Secured Debt					$ 160,700,000
Number of collateralized properties | property					7
Carrying value of collateralized properties					$ 250,900,000
U.S. Bank National Association
Debt Instrument [Line Items]
Credit facility, amount outstanding	$ 1,733,510
Credit facility, interest rate	1.00%
Credit facility, periodic payment	$ 96,864.28
Credit facility, gain on loan forgiveness					$ (1,734,000)
Series A
Debt Instrument [Line Items]
Annual principal payments		$ 7,100,000
Series B
Debt Instrument [Line Items]
Annual principal payments		10,000,000
2019 Facility
Debt Instrument [Line Items]
Credit facility, covenant, total debt to total assets ratio, maximum			0.60
Credit facility, covenant, secured debt to total assets ratio, maximum			0.40
Credit facility, covenant, EBITDA to fixed charges ratio, minimum			1.50
Credit facility, covenant, other recourse debt to total assets ratio, maximum			0.15
Credit facility, covenant, tangible net worth threshold before percentage of aggregate net proceeds, amount			$ 372,000,000
Credit facility, covenant, tangible net worth, percentage of aggregate net proceeds, minimum			75.00%
Interest rate at period end					1.80%
Repayments of long-term debt			$ 446,200,000
Senior Notes
Debt Instrument [Line Items]
Face amount of debt		100,000,000
Period principal payment		$ 1,000,000
Credit facility, covenant, total debt to total assets ratio, maximum		0.60
Credit facility, covenant, secured debt to total assets ratio, maximum		0.40
Credit facility, covenant, EBITDA to fixed charges ratio, minimum		1.50
Credit facility, covenant, other recourse debt to total assets ratio, maximum		0.15
Credit facility, covenant, tangible net worth threshold before percentage of aggregate net proceeds, amount		$ 372,000,000
Credit facility, covenant, tangible net worth, percentage of aggregate net proceeds, minimum		75.00%
Senior Notes | Series A
Debt Instrument [Line Items]
Face amount of debt		$ 50,000,000
Stated interest rate		5.09%
Senior Notes | Series B
Debt Instrument [Line Items]
Face amount of debt		$ 50,000,000
Stated interest rate		5.17%
Floating Rate Notes | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate					1.40%
Floating Rate Notes | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate					1.90%
Floating Rate Notes | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate					0.15%
Fixed Rate Notes | $80.0 million, 3.72% Note, due June 1, 2027
Debt Instrument [Line Items]
Face amount of debt					$ 80,000,000			$ 80,000,000
Stated interest rate					3.72%			3.72%
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, amount outstanding					$ 384,500,000
Revolving Credit Facility | The Revolver
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity				$ 300,000,000
Revolving Credit Facility | 2018 Facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate				1.00%
Revolving Credit Facility | 2018 Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate				1.40%
Revolving Credit Facility | 2018 Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate				1.95%
Revolving Credit Facility | 2019 Facility
Debt Instrument [Line Items]
Credit facility, amount outstanding					384,500,000		$ 30,000,000
Credit facility, remaining borrowing capacity					$ 130,500,000	$ 18,400,000
Revolving Credit Facility | 2019 Facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate			1.00%
Revolving Credit Facility | 2019 Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate			1.40%
Revolving Credit Facility | 2019 Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate			1.90%
Term Loan | Term Loan 3
Debt Instrument [Line Items]
Face amount of debt				$ 100,000,000
Credit facility, remaining borrowing capacity				100,000,000
Term Loan | Term Loan 1
Debt Instrument [Line Items]
Face amount of debt				50,000,000
Term Loan | Term Loan 2
Debt Instrument [Line Items]
Face amount of debt				$ 50,000,000
Term Loan | 2018 Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate				1.35%
Term Loan | 2018 Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate				2.25%
Term Loan | 2019 Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate			1.35%
Term Loan | 2019 Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate			1.90%
Term Loan | Unsecured Line of Credit | Term Loan A
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			$ 165,000,000
Term Loan | Unsecured Line of Credit | Term Loan B
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			100,000,000
Revolving Credit Facility | 2019 Facility
Debt Instrument [Line Items]
Credit facility, accordion feature, increase limit			200,000,000
Revolving Credit Facility | Unsecured Line of Credit | 2019 Revolver
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			$ 250,000,000

Debt (Schedule of Maturities of

Debt (Schedule of Maturities of Debt) (Details) $ in Thousands	Dec. 31, 2020USD ($)
Debt Disclosure [Abstract]
2021	$ 1,829
2022	101,683
2023	147,363
2024	228,573
2025	17,143
Thereafter	148,572
Total	$ 645,163

Debt (Contractual Obligations)

Debt (Contractual Obligations) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)loan	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Total	$ 645,163
Long-Term Debt - Principal, Less than 1 year (2021)	1,829
Long-Term Debt - Principal, 1 - 3 years (2022 - 2023)	249,046
Long-Term Debt - Principal, 3 - 5 years (2024 - 2025)	245,716
Long-Term Debt - Principal, More than 5 years (after 2025)	148,572
Long-Term Debt - Fixed Interest, Total	85,931
Long-Term Debt - Fixed Interest, Less than 1 year (2021)	21,301
Long-Term Debt - Fixed Interest, 1 - 3 years (2022 - 2023)	37,830
Long-Term Debt - Fixed Interest, 3 - 5 years (2024 - 2025)	16,281
Long-Term Debt - Fixed Interest, More than 5 years (after 2025)	10,519
Long-Term Debt - Variable Interest, Total	9,918
Long-Term Debt - Variable Interest, Less than 1 year (2021)	4,959
Long-Term Debt - Variable Interest, 1 - 3 years (2022 - 2023)	4,959
Long-Term Debt - Variable Interest, 3 - 5 years (2024 - 2025)	0
Long-Term Debt - Variable Interest, More than 5 years (after 2025)	0
Unsecured revolving credit facility - Unused commitment fee, Total	679
Unsecured revolving credit facility - Unused commitment fee, Less than 1 year (2021)	326
Unsecured revolving credit facility - Unused commitment fee, 1 - 3 years (2022 - 2023)	353
Unsecured revolving credit facility - Unused commitment fee, 3 - 5 years (2024 - 2025)	0
Unsecured revolving credit facility - Unused commitment fee, More than 5 years (after 2025)	0
Operating Lease Obligations, Total	255
Operating Lease Obligations, Less than 1 year (2021)	85
Operating Lease Obligations, 1 - 3 years (2022 - 2023)	106
Operating Lease Obligations, 3 - 5 years (2024 - 2025)	64
Operating Lease Obligations, More than 5 years (after 2025)	0
Related Party Rent Lease Obligation, Total	380
Related Party Rent Lease Obligation, Less than 1 year (2021)	362
Related Party Rent Lease Obligation, 1 - 3 years (2022 - 2023)	18
Related Party Rent Lease Obligation, 3 - 5 years (2024 - 2025)	0
Related Party Rent Lease Obligation, More than 5 years (after 2025)	0
Contractual Obligations, Total	742,326
Contractual Obligations, Less than 1 year (2021)	28,862
Contractual Obligations, 1 - 3 years (2022 - 2023)	292,312
Contractual Obligations, 3 - 5 years (2024 - 2025)	262,061
Contractual Obligations, More than 5 years (after 2025)	159,091
Long-term debt	$ 644,185	$ 644,699
Minimum
Debt Instrument [Line Items]
Commitment fee percentage	0.20%
Facility usage	50.00%
Maximum
Debt Instrument [Line Items]
Commitment fee percentage	0.25%
Facility usage	50.00%
Floating Rate Notes
Debt Instrument [Line Items]
Number of loans | loan	1
Long-term debt	$ 119,500
Floating Rate Notes | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.40%
Floating Rate Notes | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.90%
Floating Rate Notes | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	0.15%
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, amount outstanding	$ 384,500

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Dec. 31, 2015	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Sep. 05, 2018	Nov. 19, 2015
Interest Rate Swap | Interest Expense
Derivative [Line Items]
Amount Recognized as Comprehensive Income (Loss)			$ (9,062)	$ (9,828)	$ 1,192
Amount of Gain (Loss) Recognized in Earnings			3,578	1,036	$ 646
Interest Rate Swap | Prepaid Expenses and Other Current Assets
Derivative [Line Items]
Estimated fair value			0	59
Interest Rate Swap | Accounts Payable and Accrued Expenses
Derivative [Line Items]
Estimated fair value			$ (14,663)	$ (5,660)
Term Loan 3 | Interest Rate Swap | Cash Flow Hedging
Derivative [Line Items]
Fixed interest rate							1.73%
Term Loan 3 | U.S. Bank National Association
Derivative [Line Items]
Swap amount assigned to counterparty		$ 35,000
Term Loan 3 | SunTrust Bank
Derivative [Line Items]
Swap amount assigned to counterparty		15,000
Term Loan 1
Derivative [Line Items]
Swap amount assigned to counterparty		14,000
Term Loan 1 | Interest Rate Swap | Cash Flow Hedging
Derivative [Line Items]
Fixed interest rate							1.75%
Term Loan 1 | U.S. Bank National Association
Derivative [Line Items]
Swap amount assigned to counterparty		6,500
Term Loan 1 | Wells Fargo Bank, National Association
Derivative [Line Items]
Swap amount assigned to counterparty		14,000
Term Loan 1 | SunTrust Bank
Derivative [Line Items]
Swap amount assigned to counterparty		5,000
Term Loan 1 | Regions Bank
Derivative [Line Items]
Swap amount assigned to counterparty		3,800
Term Loan 2 | Interest Rate Swap | Cash Flow Hedging
Derivative [Line Items]
Fixed interest rate							1.50%
Term Loan 2 | U.S. Bank National Association
Derivative [Line Items]
Swap amount assigned to counterparty		6,500
Term Loan 2 | Wells Fargo Bank, National Association
Derivative [Line Items]
Swap amount assigned to counterparty		14,000
Term Loan 2 | Bank of American, N.A.
Derivative [Line Items]
Swap amount assigned to counterparty		14,000
Term Loan 2 | SunTrust Bank
Derivative [Line Items]
Swap amount assigned to counterparty		5,000
Term Loan 2 | Regions Bank
Derivative [Line Items]
Swap amount assigned to counterparty		$ 3,800
Terravita Marketplace | Extension Loan | Interest Rate Swap | Cash Flow Hedging
Derivative [Line Items]
Fixed interest rate						2.85%
Derivative, amount of hedged item						$ 9,600
February 7, 2019 | Term Loan A | Interest Rate Swap | Cash Flow Hedging
Derivative [Line Items]
Fixed interest rate	2.43%
February 7, 2019 | Term Loan A | Bank Of Montreal
Derivative [Line Items]
Swap amount assigned to counterparty	$ 65,000
February 7, 2019 | Term Loan A | U.S. Bank National Association
Derivative [Line Items]
Swap amount assigned to counterparty	12,900
February 7, 2019 | Term Loan A | Wells Fargo Bank, National Association
Derivative [Line Items]
Swap amount assigned to counterparty	5,900
February 7, 2019 | Term Loan A | SunTrust Bank
Derivative [Line Items]
Swap amount assigned to counterparty	15,700
February 7, 2019 | Term Loan A | Regions Bank
Derivative [Line Items]
Swap amount assigned to counterparty	$ 11,600
November 9, 2020 | Term Loan A | Interest Rate Swap | Cash Flow Hedging
Derivative [Line Items]
Fixed interest rate	2.43%
November 9, 2020 | Term Loan A | Bank Of Montreal
Derivative [Line Items]
Swap amount assigned to counterparty	$ 115,000
November 9, 2020 | Term Loan A | U.S. Bank National Association
Derivative [Line Items]
Swap amount assigned to counterparty	22,700
November 9, 2020 | Term Loan A | Wells Fargo Bank, National Association
Derivative [Line Items]
Swap amount assigned to counterparty	10,500
November 9, 2020 | Term Loan A | SunTrust Bank
Derivative [Line Items]
Swap amount assigned to counterparty	27,900
November 9, 2020 | Term Loan A | Regions Bank
Derivative [Line Items]
Swap amount assigned to counterparty	$ 20,500
February 8, 2021 | Term Loan A | Interest Rate Swap | Cash Flow Hedging
Derivative [Line Items]
Fixed interest rate	2.43%
February 8, 2021 | Term Loan A | Bank Of Montreal
Derivative [Line Items]
Swap amount assigned to counterparty	$ 165,000
February 8, 2021 | Term Loan A | U.S. Bank National Association
Derivative [Line Items]
Swap amount assigned to counterparty	32,600
February 8, 2021 | Term Loan A | Wells Fargo Bank, National Association
Derivative [Line Items]
Swap amount assigned to counterparty	15,000
February 8, 2021 | Term Loan A | SunTrust Bank
Derivative [Line Items]
Swap amount assigned to counterparty	40,000
February 8, 2021 | Term Loan A | Regions Bank
Derivative [Line Items]
Swap amount assigned to counterparty	$ 29,400

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Distributions to holders of certain restricted common shares charged against earnings									$ 6,100	$ 6,500	$ 6,800
Numerator:
Income from continuing operations									6,151	23,634	21,981
Less: Net income attributable to noncontrolling interests									(117)	(511)	(550)
Distributions paid on unvested restricted shares									0	(41)	(301)
Income from continuing operations attributable to Whitestone REIT excluding amounts attributable to unvested restricted shares									6,034	23,082	21,130
Net income from discontinued operations									0	594	0
Less: Net income attributable to noncontrolling interests									0	(34)	0
Income from discontinued operations attributable to Whitestone REIT									0	560	0
Net income attributable to common shareholders excluding amounts attributable to unvested restricted shares									$ 6,034	$ 23,642	$ 21,130
Denominator:
Weighted average number of common shares - basic									42,244,000	40,184,000	39,274,000
Effect of dilutive securities:
Unvested restricted shares									746,000	1,278,000	1,338,000
Weighted average number of common shares - dilutive									42,990,000	41,462,000	40,612,000
Basic:
Income from continuing operations attributable to Whitestone REIT, excluding amounts attributable to unvested restricted shares (in dollars per share)									$ 0.14	$ 0.57	$ 0.54
Income from discontinued operations attributable to Whitestone REIT (in dollars per share)									0	0.02	0
Net income attributable to common shareholders, excluding amounts attributable to unvested restricted shares (in dollars per share)	$ 0.07	$ 0.02	$ 0.01	$ 0.04	$ 0.39	$ 0.04	$ 0.08	$ 0.07	0.14	0.59	0.54
Diluted:
Income from continuing operations attributable to Whitestone REIT, excluding amounts attributable to unvested restricted shares (in dollars per share)									0.14	0.56	0.52
Income from discontinued operations attributable to Whitestone REIT (in dollars per share)									0	0.01	0
Net income attributable to common shareholders, excluding amounts attributable to unvested restricted shares (in dollars per share)	$ 0.07	$ 0.02	$ 0.01	$ 0.04	$ 0.37	$ 0.04	$ 0.08	$ 0.07	$ 0.14	$ 0.57	$ 0.52
OP Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
OP units excluded from diluted earnings per share because their effect would be anti-dilutive (in shares)									820,563	924,314	1,011,268
Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Distributions to holders of certain restricted common shares									$ 0	$ 41	$ 317
Distributions to holders of certain restricted common shares charged against earnings									$ 0	$ 0	$ 16

Federal Income Taxes (Details)

Federal Income Taxes (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Ordinary income (unaudited)	59.90%	28.60%	39.10%
Return of capital (unaudited)	40.10%	19.40%	26.50%
Capital gain distributions (unaudited)	0.00%	52.00%	34.40%
Total	100.00%	100.00%	100.00%

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 08, 2016
Beneficial Owner | James C. Mastandrea
Related Party Transaction [Line Items]
Ownership percentage	78.20%
Beneficial Owner | John J. Dee
Related Party Transaction [Line Items]
Ownership percentage	27.00%
Pillarstone OP
Related Party Transaction [Line Items]
Financed receivable due from related party		$ 15.4
Minimum | LIBOR | Pillarstone OP
Related Party Transaction [Line Items]
Financing receivable, basis spread on variable rate		1.40%
Maximum | LIBOR | Pillarstone OP
Related Party Transaction [Line Items]
Financing receivable, basis spread on variable rate		1.95%

Related Party Transactions - Re

Related Party Transactions - Revenue and Expenses (Details) - Pillarstone OP - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating and maintenance
Related Party Transaction [Line Items]
Rent	$ (932)	$ (813)	$ (779)
Management, transaction, and other fees
Related Party Transaction [Line Items]
Property management fee income	598	856	1,008
Interest, dividend and other investment income
Related Party Transaction [Line Items]
Interest income	$ 0	$ 171	$ 582

Equity (Details)

Equity (Details)	May 14, 2020$ / shares	Mar. 24, 2020USD ($)	Dec. 31, 2020USD ($)$ / sharesshares	Sep. 30, 2020USD ($)$ / shares	Jun. 30, 2020USD ($)$ / shares	Mar. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)$ / sharesshares	Sep. 30, 2019USD ($)$ / shares	Jun. 30, 2019USD ($)$ / shares	Mar. 31, 2019USD ($)$ / shares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018	May 31, 2019USD ($)agreement	Jun. 04, 2015USD ($)agreement
Class of Stock [Line Items]
Common shares, authorized (in shares) | shares			400,000,000				400,000,000				400,000,000	400,000,000
Common shares, par value per share (in dollars per share) | $ / shares			$ 0.001				$ 0.001				$ 0.001	$ 0.001
Preferred shares, shares authorized (in shares) | shares			50,000,000				50,000,000				50,000,000	50,000,000
Preferred shares, par value per share (in dollars per share) | $ / shares			$ 0.001				$ 0.001				$ 0.001	$ 0.001
Weighted-average share ownership in operating partnership											98.10%	97.70%	97.50%
Operating Partnership
Class of Stock [Line Items]
Ownership interest in operating partnership											98.20%
OP Units
Class of Stock [Line Items]
OP units outstanding (in shares) | shares			43,043,251				42,279,849				43,043,251	42,279,849
OP units owned (in shares) | shares			42,270,476				41,371,277				42,270,476	41,371,277
Conversion of stock, shares converted (in shares) | shares											135,797	19,909
Distribution Per Common Share (in dollars per share) | $ / shares	$ 30
Ownership interest	20.00%
Series A Preferred Stock | Preferred Stock
Class of Stock [Line Items]
Preferred shares, par value per share (in dollars per share) | $ / shares	$ 0.001
Conversion ratio	1
Ownership interest	5.00%
Cash Distribution
Class of Stock [Line Items]
Total Amount Paid			$ 4,513,000	$ 4,511,000	$ 4,504,000	$ 12,186,000	$ 11,842,000	$ 11,694,000	$ 11,581,000	$ 11,565,000	$ 25,714,000	$ 46,682,000
Cash Distribution | Minimum | COVID-19
Class of Stock [Line Items]
Total Amount Paid		$ 7,700,000
Cash Distribution | Common Stock
Class of Stock [Line Items]
Distribution Per Common Share (in dollars per share) | $ / shares			$ 0.1050	$ 0.1050	$ 0.1050	$ 0.2850	$ 0.2850	$ 0.2850	$ 0.2850	$ 0.2850	$ 0.6000	$ 1.1400
Total Amount Paid			$ 4,432,000	$ 4,430,000	$ 4,413,000	$ 11,928,000	$ 11,580,000	$ 11,430,000	$ 11,316,000	$ 11,301,000	$ 25,203,000	$ 45,627,000
Cash Distribution | OP Units
Class of Stock [Line Items]
Distribution Per Common Share (in dollars per share) | $ / shares			$ 0.1050	$ 0.1050	$ 0.1050	$ 0.2850	$ 0.2850	$ 0.2850	$ 0.2850	$ 0.2850	$ 0.6000	$ 1.1400
Total Amount Paid			$ 81,000	$ 81,000	$ 91,000	$ 258,000	$ 262,000	$ 264,000	$ 265,000	$ 264,000	$ 511,000	$ 1,055,000
2019 Equity Distribution Agreement
Class of Stock [Line Items]
Number of equity distribution agreements | agreement														9
Amount authorized														$ 100,000,000
Net proceeds											2,200,000	21,200,000
Compensation paid											$ 34,000	$ 324,000
2019 Equity Distribution Agreement | Common Stock
Class of Stock [Line Items]
Issuance of commons shares (in shares) | shares											170,942	1,612,389
2015 Equity Distribution Agreement
Class of Stock [Line Items]
Number of equity distribution agreements | agreement															9
Amount authorized															$ 50,000,000

Incentive Share Plan (Narrative

Incentive Share Plan (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions

Jan. 01, 2021

Jul. 31, 2020

Jan. 01, 2020

Sep. 30, 2019

Jun. 30, 2019

Dec. 01, 2018

Mar. 16, 2018

Sep. 06, 2017

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2021

May 11, 2017

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based compensation expense

$ 6.1

$ 6.5

$ 6.8

Restricted Stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Restricted stock granted (in shares)

4,300

Restricted Stock | Market-Based Vesting (TSR Units)

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting period

25 months

Restricted stock granted (in shares)

267,783

Performance period

3 years

Grant date fair value (in dollars per share)

$ 14.89

$ 12.37

Stock granted to trustees, vested in period (in shares)

247,978

Unrecognized compensation cost

$ 3.8

Restricted Stock | Market-Based Vesting (TSR Units) | Subsequent Event

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock granted to trustees, vested in period (in shares)

208,210

Restricted Stock | Market-Based Vesting (TSR Units) | Maximum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting percentage

200.00%

50.00%

200.00%

Restricted Stock | Market-Based Vesting (TSR Units) | Maximum | Subsequent Event

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting percentage

50.00%

Restricted Stock | Immediate Vesting (CIC Units)

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Restricted stock granted (in shares)

965,000

890,000

Grant date fair value (in dollars per share)

$ 13.05

Time-Based Restricted Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Restricted stock granted (in shares)

387,499

Performance Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting period

31 months

Non-Cash Share Based Compensation in 2014 | Subsequent Event | Forecast

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Unrecognized compensation cost

$ 8.5

Common Stock | Market-Based Vesting (TSR Units)

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Period Increase (Decrease)

495,956

Common Stock | Market-Based Vesting (TSR Units) | Subsequent Event

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Period Increase (Decrease)

104,105

2008 Long-Term Equity Incentive Ownership Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares authorized (in shares)

3,433,831

2008 Long-Term Equity Incentive Ownership Plan | Restricted Common Shares and Restricted Share Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting percentage

100.00%

2008 Long-Term Equity Incentive Ownership Plan | Non-Vested Time Based Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Unrecognized compensation cost

$ 4.6

Period from recognition

31 months

2008 Long-Term Equity Incentive Ownership Plan | Non-Cash Share Based Compensation in 2014

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Period from recognition

23 months

2018 Long-Term Equity Incentive Ownership Plan | Restricted Stock | Market-Based Vesting (TSR Units)

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Restricted stock granted (in shares)

545,000

405,417

229,684

Performance period

3 years

3 years

3 years

Grant date fair value (in dollars per share)

$ 5.55

$ 8.22

2018 Long-Term Equity Incentive Ownership Plan | Restricted Stock | Market-Based Vesting (TSR Units) | Minimum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting percentage

0.00%

0.00%

2018 Long-Term Equity Incentive Ownership Plan | Restricted Stock | Market-Based Vesting (TSR Units) | Maximum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting percentage

200.00%

200.00%

2018 Long-Term Equity Incentive Ownership Plan | Time-Based Restricted Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Restricted stock granted (in shares)

530,000

17,069

317,184

Performance period

3 years

3 years

3 years

Grant date fair value (in dollars per share)

$ 5.83

$ 11.69

$ 10.63

Shared Issued 2018 | Restricted Stock | Market-Based Vesting (TSR Units)

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting percentage

50.00%

Shares issued 2019 | Restricted Stock | Market-Based Vesting (TSR Units)

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting percentage

0.00%

Shares issued 2020 | Restricted Stock | Market-Based Vesting (TSR Units)

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting percentage

0.00%

Incentive Share Plan (Schedule

Incentive Share Plan (Schedule of Share-Based Incentive Plan Activity) (Details) - 2008 Long-Term Equity Incentive Ownership Plan - $ / shares	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2020
Shares
Non-vested, beginning balance (in shares)	2,339,932		2,339,932
Granted (in shares)	762,630	653,472	1,108,014
Vested (in shares)	(284,964)	(560,126)	(511,621)
Forfeited (in shares)			(32,479)
Non-vested, ending balance (in shares)			2,903,846
Available for grant (in shares)			375,046
Weighted-Average Grant Date Fair Value
Non-vested, beginning balance (in dollars per share)	$ 11.52		$ 11.52
Granted (in dollars per share)	$ 9.46	$ 11.07	5.76
Vested (in dollars per share)			10.88
Forfeited (in dollars per share)			10.80
Non-vested, ending balance (in dollars per share)			$ 9.45

Incentive Share Plan (Schedul_2

Incentive Share Plan (Schedule of Nonvested and Vested Shares Activity) (Details) - 2008 Long-Term Equity Incentive Ownership Plan - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-Vested Shares Issued (in shares)	762,630	653,472	1,108,014
Weighted Average Grant Date Fair Value (in dollars per share)	$ 9.46	$ 11.07	$ 5.76
Vested Shares (in shares)	(284,964)	(560,126)	(511,621)
Total Vest-Date Fair Value	$ 3,352	$ 7,978	$ 5,566

Grants to Trustees (Details)

Grants to Trustees (Details)	Dec. 04, 2020trustee$ / sharesshares	Dec. 12, 2019trustee$ / sharesshares	Dec. 28, 2018trustee$ / sharesshares
Individual Trustee Grant Agreements 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of independent trustees | trustee	6	6	6
Number of trustee emeritus | trustee	1	1	1
Individual Trustee Grant Agreements 1 | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted to trustees (in shares) | shares	29,587	19,562	21,000
Stock granted to trustees, vested in period (in shares) | shares	29,587	3,000	3,000
Stock granted to trustees, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 8.17	$ 13.54	$ 12.42
Individual Trustee Grant Agreements 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of independent trustees | trustee	1	2	2
Individual Trustee Grant Agreements 2 | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted to trustees (in shares) | shares	3,427	3,398	4,186
Stock granted to trustees, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 8.17	$ 13.54	$ 12.42

Selected Quarterly Financial _3

Selected Quarterly Financial Data (unaudited) - Unaudited Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 29,834	$ 29,900	$ 27,597	$ 30,584	$ 30,100	$ 29,879	$ 29,578	$ 29,694	$ 117,915	$ 119,251	$ 119,863
Net income	3,171	914	419	1,647	16,136	1,849	3,404	2,839	6,151	24,228	21,981
Net income (loss) attributable to Whitestone REIT	$ 3,112	$ 900	$ 410	$ 1,612	$ 15,776	$ 1,807	$ 3,327	$ 2,774	$ 6,034	$ 23,683	$ 21,431
Basic Earnings Per Share:
Income from continuing operations attributable to Whitestone REIT, excluding amounts attributable to unvested restricted shares (in dollars per share)					$ 0.39	$ 0.04	$ 0.06	$ 0.07
Income from discontinued operations attributable to Whitestone REIT (in dollars per share)					0	0	0.02	0
Net income attributable to common shareholders, excluding amounts attributable to unvested restricted shares (in dollars per share)	$ 0.07	$ 0.02	$ 0.01	$ 0.04	0.39	0.04	0.08	0.07	$ 0.14	$ 0.59	$ 0.54
Diluted Earnings Per Share:
Income from continuing operations attributable to Whitestone REIT, excluding amounts attributable to unvested restricted shares (in dollars per share)					0.38	0.04	0.06	0.07
Income from discontinued operations attributable to Whitestone REIT (in dollars per share)					(0.01)	0	0.02	0
Net income attributable to common shareholders, excluding amounts attributable to unvested restricted shares (in dollars per share)	$ 0.07	$ 0.02	$ 0.01	$ 0.04	$ 0.37	$ 0.04	$ 0.08	$ 0.07	$ 0.14	$ 0.57	$ 0.52

Subsequent Events (Details)

Subsequent Events (Details)

May 14, 2020$ / shares

Jul. 31, 2020target

Mar. 31, 2021$ / shares

Dec. 31, 2020USD ($)$ / shares

Sep. 30, 2020$ / shares

Jun. 30, 2020$ / shares

Mar. 31, 2020$ / shares

Dec. 31, 2019$ / shares

Sep. 30, 2019$ / shares

Jun. 30, 2019$ / shares

Mar. 31, 2019$ / shares

Dec. 31, 2024USD ($)

Dec. 31, 2021USD ($)

Dec. 31, 2020USD ($)$ / shares

Dec. 31, 2019$ / shares

OP Units

Subsequent Event [Line Items]

Distribution per common share (in dollars per share) | $ / shares

$ 30

Cash Distribution | OP Units

Subsequent Event [Line Items]

Distribution per common share (in dollars per share) | $ / shares

$ 0.1050

$ 0.1050

$ 0.1050

$ 0.2850

$ 0.2850

$ 0.2850

$ 0.2850

$ 0.2850

$ 0.6000

$ 1.1400

Forecast | Subsequent Event | Cash Distribution | OP Units

Subsequent Event [Line Items]

Increase in distribution per common share (in dollars per share) | $ / shares

$ 0.0025

Increase in distribution per common share, percent

2.40%

Distribution per common share (in dollars per share) | $ / shares

$ 0.1075

Monthly payments, distribution per common share (in dollars per share) | $ / shares

$ 0.035833

Executive Officer

Subsequent Event [Line Items]

Deferred compensation arrangement, number of targets | target

3

Deferred compensation arrangement, CEO and CFO have not received cash incentives, term

9 years

Deferred compensation arrangement, cash awards granted, percentage

200.00%

Deferred compensation arrangement, cash award granted, additional amount

$ 300,000

$ 300,000

Executive Officer | Forecast | Subsequent Event

Subsequent Event [Line Items]

Compensation paid

$ 1,730,000

James C. Mastandrea | Executive Officer | Forecast | Subsequent Event

Subsequent Event [Line Items]

Deferred compensation arrangement, cash awards granted, percentage

125.00%

Deferred compensation arrangement, cash award granted, amount

$ 750,000

David K. Holeman | Executive Officer | Forecast | Subsequent Event

Subsequent Event [Line Items]

Deferred compensation arrangement, cash awards granted, percentage

100.00%

Deferred compensation arrangement, cash award granted, amount

$ 375,000

John J. Dee | Executive Officer | Forecast | Subsequent Event

Subsequent Event [Line Items]

Deferred compensation arrangement, cash awards granted, percentage

50.00%

Deferred compensation arrangement, cash award granted, amount

$ 125,000

Bradford D. Johnson | Executive Officer | Forecast | Subsequent Event

Subsequent Event [Line Items]

Deferred compensation arrangement, cash awards granted, percentage

80.00%

Deferred compensation arrangement, cash award granted, amount

$ 240,000

Christine J. Mastandrea | Executive Officer | Forecast | Subsequent Event

Subsequent Event [Line Items]

Deferred compensation arrangement, cash awards granted, percentage

80.00%

Deferred compensation arrangement, cash award granted, amount

$ 240,000

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Charges	$ 5,649	$ 1,484	$ 1,391
SEC Schedule, 12-09, Allowance, Credit Loss
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	11,173	9,746	8,608
Charges	5,649	1,484	1,391
Deductions from Reserves	(396)	(57)	(253)
Balance at End of Year	$ 16,426	$ 11,173	$ 9,746

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020
Initial Cost
Land				$ 322,117
Building and Improvements				688,999
Costs Capitalized Subsequent to Acquisition
Improvements (net)				92,618
Carrying Costs				2,692
Gross Amount at which Carried at End of Period
Land				322,117
Building and Improvements				784,309
Total	$ 1,106,426	$ 1,052,238	$ 1,052,238	1,106,426
Accumulated Depreciation				163,712
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at beginning of period	1,099,955	1,052,238	1,149,454
Additions during the period:
Acquisitions	0	34,804	0
Improvements	7,613	13,474	11,638
Real estate, total additions	7,613	48,278	(83,508)
Deductions - cost of real estate sold or retired	(1,142)	(561)	(13,708)
Balance at close of period	1,106,426	1,099,955	1,052,238
Aggregate cost of real estate for federal income tax purposes				1,100,000
Retail Communities
Initial Cost
Land				305,725
Building and Improvements				688,999
Costs Capitalized Subsequent to Acquisition
Improvements (net)				92,548
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				305,725
Building and Improvements				781,547
Total	1,087,272			1,087,272
Accumulated Depreciation				163,712
Additions during the period:
Balance at close of period	1,087,272
Retail Communities | Ahwatukee Plaza
Initial Cost
Land				5,126
Building and Improvements				4,086
Costs Capitalized Subsequent to Acquisition
Improvements (net)				357
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				5,126
Building and Improvements				4,443
Total	9,569			9,569
Accumulated Depreciation				1,062
Additions during the period:
Balance at close of period	9,569
Retail Communities | Anthem Marketplace
Initial Cost
Land				4,790
Building and Improvements				17,973
Costs Capitalized Subsequent to Acquisition
Improvements (net)				1,771
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				4,790
Building and Improvements				19,744
Total	24,534			24,534
Accumulated Depreciation				3,749
Additions during the period:
Balance at close of period	24,534
Amount of encumbrances				15,100
Retail Communities | Anthem Marketplace Phase II
Initial Cost
Land				204
Building and Improvements				0
Costs Capitalized Subsequent to Acquisition
Improvements (net)				502
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				204
Building and Improvements				502
Total	706			706
Accumulated Depreciation				77
Additions during the period:
Balance at close of period	706
Retail Communities | Bissonnet Beltway
Initial Cost
Land				415
Building and Improvements				1,947
Costs Capitalized Subsequent to Acquisition
Improvements (net)				529
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				415
Building and Improvements				2,476
Total	2,891			2,891
Accumulated Depreciation				2,055
Additions during the period:
Balance at close of period	2,891
Retail Communities | BLVD Place
Initial Cost
Land				63,893
Building and Improvements				90,942
Costs Capitalized Subsequent to Acquisition
Improvements (net)				2,091
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				63,893
Building and Improvements				93,033
Total	156,926			156,926
Accumulated Depreciation				8,857
Additions during the period:
Balance at close of period	156,926
Amount of encumbrances				80,000
Retail Communities | The Citadel
Initial Cost
Land				472
Building and Improvements				1,777
Costs Capitalized Subsequent to Acquisition
Improvements (net)				3,081
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				472
Building and Improvements				4,858
Total	5,330			5,330
Accumulated Depreciation				2,335
Additions during the period:
Balance at close of period	5,330
Retail Communities | City View Village
Initial Cost
Land				2,044
Building and Improvements				4,149
Costs Capitalized Subsequent to Acquisition
Improvements (net)				108
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				2,044
Building and Improvements				4,257
Total	6,301			6,301
Accumulated Depreciation				658
Additions during the period:
Balance at close of period	6,301
Retail Communities | Davenport Village
Initial Cost
Land				11,367
Building and Improvements				34,101
Costs Capitalized Subsequent to Acquisition
Improvements (net)				1,367
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				11,367
Building and Improvements				35,468
Total	46,835			46,835
Accumulated Depreciation				5,589
Additions during the period:
Balance at close of period	46,835
Retail Communities | Desert Canyon
Initial Cost
Land				1,976
Building and Improvements				1,704
Costs Capitalized Subsequent to Acquisition
Improvements (net)				922
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				1,976
Building and Improvements				2,626
Total	4,602			4,602
Accumulated Depreciation				950
Additions during the period:
Balance at close of period	4,602
Retail Communities | El Dorado Plaza
Initial Cost
Land				16,551
Building and Improvements				30,746
Costs Capitalized Subsequent to Acquisition
Improvements (net)				444
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				16,551
Building and Improvements				31,190
Total	47,741			47,741
Accumulated Depreciation				2,937
Additions during the period:
Balance at close of period	47,741
Retail Communities | Fountain Hills Plaza
Initial Cost
Land				5,113
Building and Improvements				15,340
Costs Capitalized Subsequent to Acquisition
Improvements (net)				378
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				5,113
Building and Improvements				15,718
Total	20,831			20,831
Accumulated Depreciation				2,999
Additions during the period:
Balance at close of period	20,831
Retail Communities | Fountain Square
Initial Cost
Land				5,573
Building and Improvements				9,828
Costs Capitalized Subsequent to Acquisition
Improvements (net)				2,662
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				5,573
Building and Improvements				12,490
Total	18,063			18,063
Accumulated Depreciation				3,246
Additions during the period:
Balance at close of period	18,063
Retail Communities | Fulton Ranch Towne Center
Initial Cost
Land				7,604
Building and Improvements				22,612
Costs Capitalized Subsequent to Acquisition
Improvements (net)				2,636
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				7,604
Building and Improvements				25,248
Total	32,852			32,852
Accumulated Depreciation				3,993
Additions during the period:
Balance at close of period	32,852
Retail Communities | Gilbert Tuscany Village
Initial Cost
Land				1,767
Building and Improvements				3,233
Costs Capitalized Subsequent to Acquisition
Improvements (net)				1,622
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				1,767
Building and Improvements				4,855
Total	6,622			6,622
Accumulated Depreciation				2,001
Additions during the period:
Balance at close of period	6,622
Retail Communities | Gilbert Tuscany Village Hard Corner
Initial Cost
Land				856
Building and Improvements				794
Costs Capitalized Subsequent to Acquisition
Improvements (net)				169
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				856
Building and Improvements				963
Total	1,819			1,819
Accumulated Depreciation				182
Additions during the period:
Balance at close of period	1,819
Retail Communities | Heritage Trace Plaza
Initial Cost
Land				6,209
Building and Improvements				13,821
Costs Capitalized Subsequent to Acquisition
Improvements (net)				905
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				6,209
Building and Improvements				14,726
Total	20,935			20,935
Accumulated Depreciation				2,615
Additions during the period:
Balance at close of period	20,935
Retail Communities | Headquarters Village
Initial Cost
Land				7,171
Building and Improvements				18,439
Costs Capitalized Subsequent to Acquisition
Improvements (net)				1,670
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				7,171
Building and Improvements				20,109
Total	27,280			27,280
Accumulated Depreciation				4,336
Additions during the period:
Balance at close of period	27,280
Amount of encumbrances				19,000
Retail Communities | Keller Place
Initial Cost
Land				5,977
Building and Improvements				7,577
Costs Capitalized Subsequent to Acquisition
Improvements (net)				873
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				5,977
Building and Improvements				8,450
Total	14,427			14,427
Accumulated Depreciation				1,300
Additions during the period:
Balance at close of period	14,427
Retail Communities | Kempwood Plaza
Initial Cost
Land				733
Building and Improvements				1,798
Costs Capitalized Subsequent to Acquisition
Improvements (net)				2,295
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				733
Building and Improvements				4,093
Total	4,826			4,826
Accumulated Depreciation				2,034
Additions during the period:
Balance at close of period	4,826
Retail Communities | La Mirada
Initial Cost
Land				12,853
Building and Improvements				24,464
Costs Capitalized Subsequent to Acquisition
Improvements (net)				1,320
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				12,853
Building and Improvements				25,784
Total	38,637			38,637
Accumulated Depreciation				3,061
Additions during the period:
Balance at close of period	38,637
Retail Communities | Las Colinas Village
Initial Cost
Land				16,706
Building and Improvements				18,098
Costs Capitalized Subsequent to Acquisition
Improvements (net)				192
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				16,706
Building and Improvements				18,290
Total	34,996			34,996
Accumulated Depreciation				507
Additions during the period:
Balance at close of period	34,996
Retail Communities | Lion Square
Initial Cost
Land				1,546
Building and Improvements				4,289
Costs Capitalized Subsequent to Acquisition
Improvements (net)				4,600
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				1,546
Building and Improvements				8,889
Total	10,435			10,435
Accumulated Depreciation				5,686
Additions during the period:
Balance at close of period	10,435
Retail Communities | MarketPlace at Central
Initial Cost
Land				1,305
Building and Improvements				5,324
Costs Capitalized Subsequent to Acquisition
Improvements (net)				1,442
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				1,305
Building and Improvements				6,766
Total	8,071			8,071
Accumulated Depreciation				2,221
Additions during the period:
Balance at close of period	8,071
Retail Communities | Market Street at DC Ranch
Initial Cost
Land				9,710
Building and Improvements				26,779
Costs Capitalized Subsequent to Acquisition
Improvements (net)				8,684
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				9,710
Building and Improvements				35,463
Total	45,173			45,173
Accumulated Depreciation				8,685
Additions during the period:
Balance at close of period	45,173
Retail Communities | Mercado at Scottsdale Ranch
Initial Cost
Land				8,728
Building and Improvements				12,560
Costs Capitalized Subsequent to Acquisition
Improvements (net)				1,666
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				8,728
Building and Improvements				14,226
Total	22,954			22,954
Accumulated Depreciation				3,083
Additions during the period:
Balance at close of period	22,954
Retail Communities | Paradise Plaza
Initial Cost
Land				6,155
Building and Improvements				10,221
Costs Capitalized Subsequent to Acquisition
Improvements (net)				1,360
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				6,155
Building and Improvements				11,581
Total	17,736			17,736
Accumulated Depreciation				2,931
Additions during the period:
Balance at close of period	17,736
Retail Communities | Parkside Village North
Initial Cost
Land				3,877
Building and Improvements				8,629
Costs Capitalized Subsequent to Acquisition
Improvements (net)				192
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				3,877
Building and Improvements				8,821
Total	12,698			12,698
Accumulated Depreciation				1,312
Additions during the period:
Balance at close of period	12,698
Retail Communities | Parkside Village South
Initial Cost
Land				5,562
Building and Improvements				27,154
Costs Capitalized Subsequent to Acquisition
Improvements (net)				520
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				5,562
Building and Improvements				27,674
Total	33,236			33,236
Accumulated Depreciation				3,956
Additions during the period:
Balance at close of period	33,236
Retail Communities | Pima Norte
Initial Cost
Land				1,086
Building and Improvements				7,162
Costs Capitalized Subsequent to Acquisition
Improvements (net)				2,835
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				1,086
Building and Improvements				9,997
Total	11,083			11,083
Accumulated Depreciation				3,508
Additions during the period:
Balance at close of period	11,083
Retail Communities | Pinnacle of Scottsdale
Initial Cost
Land				6,648
Building and Improvements				22,466
Costs Capitalized Subsequent to Acquisition
Improvements (net)				1,838
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				6,648
Building and Improvements				24,304
Total	30,952			30,952
Accumulated Depreciation				6,105
Additions during the period:
Balance at close of period	30,952
Amount of encumbrances				20,200
Retail Communities | Pinnacle of Scottsdale Phase II
Initial Cost
Land				883
Building and Improvements				4,659
Costs Capitalized Subsequent to Acquisition
Improvements (net)				2,719
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				883
Building and Improvements				7,378
Total	8,261			8,261
Accumulated Depreciation				1,329
Additions during the period:
Balance at close of period	8,261
Retail Communities | The Promenade at Fulton Ranch
Initial Cost
Land				5,198
Building and Improvements				13,367
Costs Capitalized Subsequent to Acquisition
Improvements (net)				671
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				5,198
Building and Improvements				14,038
Total	19,236			19,236
Accumulated Depreciation				2,391
Additions during the period:
Balance at close of period	19,236
Retail Communities | Providence
Initial Cost
Land				918
Building and Improvements				3,675
Costs Capitalized Subsequent to Acquisition
Improvements (net)				2,710
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				918
Building and Improvements				6,385
Total	7,303			7,303
Accumulated Depreciation				2,858
Additions during the period:
Balance at close of period	7,303
Retail Communities | Quinlan Crossing
Initial Cost
Land				9,561
Building and Improvements				28,683
Costs Capitalized Subsequent to Acquisition
Improvements (net)				904
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				9,561
Building and Improvements				29,587
Total	39,148			39,148
Accumulated Depreciation				4,231
Additions during the period:
Balance at close of period	39,148
Retail Communities | Seville
Initial Cost
Land				6,913
Building and Improvements				25,518
Costs Capitalized Subsequent to Acquisition
Improvements (net)				976
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				6,913
Building and Improvements				26,494
Total	33,407			33,407
Accumulated Depreciation				2,961
Additions during the period:
Balance at close of period	33,407
Retail Communities | Shaver
Initial Cost
Land				184
Building and Improvements				633
Costs Capitalized Subsequent to Acquisition
Improvements (net)				140
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				184
Building and Improvements				773
Total	957			957
Accumulated Depreciation				424
Additions during the period:
Balance at close of period	957
Retail Communities | Shops at Pecos Ranch
Initial Cost
Land				3,781
Building and Improvements				15,123
Costs Capitalized Subsequent to Acquisition
Improvements (net)				680
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				3,781
Building and Improvements				15,803
Total	19,584			19,584
Accumulated Depreciation				3,427
Additions during the period:
Balance at close of period	19,584
Amount of encumbrances				14,000
Retail Communities | Shops at Starwood
Initial Cost
Land				4,093
Building and Improvements				11,487
Costs Capitalized Subsequent to Acquisition
Improvements (net)				774
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				4,093
Building and Improvements				12,261
Total	16,354			16,354
Accumulated Depreciation				2,917
Additions during the period:
Balance at close of period	16,354
Amount of encumbrances				14,300
Retail Communities | Shops at Starwood Phase III
Initial Cost
Land				1,818
Building and Improvements				7,069
Costs Capitalized Subsequent to Acquisition
Improvements (net)				3,516
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				1,818
Building and Improvements				10,585
Total	12,403			12,403
Accumulated Depreciation				1,589
Additions during the period:
Balance at close of period	12,403
Retail Communities | The Shops at Williams Trace
Initial Cost
Land				5,920
Building and Improvements				14,297
Costs Capitalized Subsequent to Acquisition
Improvements (net)				1,011
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				5,920
Building and Improvements				15,308
Total	21,228			21,228
Accumulated Depreciation				2,541
Additions during the period:
Balance at close of period	21,228
Retail Communities | South Richey
Initial Cost
Land				778
Building and Improvements				2,584
Costs Capitalized Subsequent to Acquisition
Improvements (net)				2,113
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				778
Building and Improvements				4,697
Total	5,475			5,475
Accumulated Depreciation				2,827
Additions during the period:
Balance at close of period	5,475
Retail Communities | Spoerlein Commons
Initial Cost
Land				2,340
Building and Improvements				7,296
Costs Capitalized Subsequent to Acquisition
Improvements (net)				1,022
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				2,340
Building and Improvements				8,318
Total	10,658			10,658
Accumulated Depreciation				2,663
Additions during the period:
Balance at close of period	10,658
Retail Communities | The Strand at Huebner Oaks
Initial Cost
Land				5,805
Building and Improvements				12,335
Costs Capitalized Subsequent to Acquisition
Improvements (net)				844
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				5,805
Building and Improvements				13,179
Total	18,984			18,984
Accumulated Depreciation				2,243
Additions during the period:
Balance at close of period	18,984
Retail Communities | SugarPark Plaza
Initial Cost
Land				1,781
Building and Improvements				7,125
Costs Capitalized Subsequent to Acquisition
Improvements (net)				1,344
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				1,781
Building and Improvements				8,469
Total	10,250			10,250
Accumulated Depreciation				3,525
Additions during the period:
Balance at close of period	10,250
Retail Communities | Sunridge
Initial Cost
Land				276
Building and Improvements				1,186
Costs Capitalized Subsequent to Acquisition
Improvements (net)				562
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				276
Building and Improvements				1,748
Total	2,024			2,024
Accumulated Depreciation				979
Additions during the period:
Balance at close of period	2,024
Retail Communities | Sunset at Pinnacle Peak
Initial Cost
Land				3,610
Building and Improvements				2,734
Costs Capitalized Subsequent to Acquisition
Improvements (net)				758
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				3,610
Building and Improvements				3,492
Total	7,102			7,102
Accumulated Depreciation				1,030
Additions during the period:
Balance at close of period	7,102
Retail Communities | Terravita Marketplace
Initial Cost
Land				7,171
Building and Improvements				9,392
Costs Capitalized Subsequent to Acquisition
Improvements (net)				906
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				7,171
Building and Improvements				10,298
Total	17,469			17,469
Accumulated Depreciation				2,673
Additions during the period:
Balance at close of period	17,469
Retail Communities | Town Park
Initial Cost
Land				850
Building and Improvements				2,911
Costs Capitalized Subsequent to Acquisition
Improvements (net)				443
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				850
Building and Improvements				3,354
Total	4,204			4,204
Accumulated Depreciation				2,360
Additions during the period:
Balance at close of period	4,204
Retail Communities | Village Square at Dana Park
Initial Cost
Land				10,877
Building and Improvements				40,250
Costs Capitalized Subsequent to Acquisition
Improvements (net)				4,360
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				10,877
Building and Improvements				44,610
Total	55,487			55,487
Accumulated Depreciation				10,125
Additions during the period:
Balance at close of period	55,487
Amount of encumbrances				2,600
Retail Communities | Westchase
Initial Cost
Land				423
Building and Improvements				1,751
Costs Capitalized Subsequent to Acquisition
Improvements (net)				3,356
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				423
Building and Improvements				5,107
Total	5,530			5,530
Accumulated Depreciation				2,578
Additions during the period:
Balance at close of period	5,530
Retail Communities | Williams Trace Plaza
Initial Cost
Land				6,800
Building and Improvements				14,003
Costs Capitalized Subsequent to Acquisition
Improvements (net)				1,651
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				6,800
Building and Improvements				15,654
Total	22,454			22,454
Accumulated Depreciation				2,396
Additions during the period:
Balance at close of period	22,454
Retail Communities | Windsor Park
Initial Cost
Land				2,621
Building and Improvements				10,482
Costs Capitalized Subsequent to Acquisition
Improvements (net)				8,664
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				2,621
Building and Improvements				19,146
Total	21,767			21,767
Accumulated Depreciation				10,241
Additions during the period:
Balance at close of period	21,767
Retail Communities | Woodlake Plaza
Initial Cost
Land				1,107
Building and Improvements				4,426
Costs Capitalized Subsequent to Acquisition
Improvements (net)				3,393
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				1,107
Building and Improvements				7,819
Total	8,926			8,926
Accumulated Depreciation				3,374
Additions during the period:
Balance at close of period	8,926
Land Held for Development
Initial Cost
Land				16,392
Building and Improvements				0
Costs Capitalized Subsequent to Acquisition
Improvements (net)				70
Carrying Costs				2,692
Gross Amount at which Carried at End of Period
Land				16,392
Building and Improvements				2,762
Total	19,154			19,154
Accumulated Depreciation				0
Additions during the period:
Balance at close of period	19,154
Land Held for Development | Market Street at DC Ranch
Initial Cost
Land				704
Building and Improvements				0
Costs Capitalized Subsequent to Acquisition
Improvements (net)				0
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				704
Building and Improvements				0
Total	704			704
Accumulated Depreciation				0
Additions during the period:
Balance at close of period	704
Land Held for Development | BLVD Place Phase II-B
Initial Cost
Land				10,500
Building and Improvements				0
Costs Capitalized Subsequent to Acquisition
Improvements (net)				14
Carrying Costs				2,692
Gross Amount at which Carried at End of Period
Land				10,500
Building and Improvements				2,706
Total	13,206			13,206
Accumulated Depreciation				0
Additions during the period:
Balance at close of period	13,206
Land Held for Development | Dana Park Development
Initial Cost
Land				4,000
Building and Improvements				0
Costs Capitalized Subsequent to Acquisition
Improvements (net)				26
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				4,000
Building and Improvements				26
Total	4,026			4,026
Accumulated Depreciation				0
Additions during the period:
Balance at close of period	4,026
Land Held for Development | Eldorado Plaza Development
Initial Cost
Land				911
Building and Improvements				0
Costs Capitalized Subsequent to Acquisition
Improvements (net)				30
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				911
Building and Improvements				30
Total	941			941
Accumulated Depreciation				0
Additions during the period:
Balance at close of period	941
Land Held for Development | Fountain Hills
Initial Cost
Land				277
Building and Improvements				0
Costs Capitalized Subsequent to Acquisition
Improvements (net)				0
Carrying Costs				0
Gross Amount at which Carried at End of Period
Land				277
Building and Improvements				0
Total	277			277
Accumulated Depreciation				$ 0
Additions during the period:
Balance at close of period	$ 277
Minimum | Retail Communities | Ahwatukee Plaza
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Anthem Marketplace
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Anthem Marketplace Phase II
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Bissonnet Beltway
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | BLVD Place
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | The Citadel
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | City View Village
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Davenport Village
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Desert Canyon
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | El Dorado Plaza
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Fountain Hills Plaza
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Fountain Square
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Fulton Ranch Towne Center
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Gilbert Tuscany Village
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Gilbert Tuscany Village Hard Corner
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Heritage Trace Plaza
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Headquarters Village
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Keller Place
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Kempwood Plaza
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | La Mirada
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Las Colinas Village
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Lion Square
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | MarketPlace at Central
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Market Street at DC Ranch
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Mercado at Scottsdale Ranch
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Paradise Plaza
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Parkside Village North
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Parkside Village South
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Pima Norte
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Pinnacle of Scottsdale
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Pinnacle of Scottsdale Phase II
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | The Promenade at Fulton Ranch
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Providence
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Quinlan Crossing
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Seville
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Shaver
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Shops at Pecos Ranch
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Shops at Starwood
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Shops at Starwood Phase III
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | The Shops at Williams Trace
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | South Richey
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Spoerlein Commons
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | The Strand at Huebner Oaks
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | SugarPark Plaza
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Sunridge
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Sunset at Pinnacle Peak
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Terravita Marketplace
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Town Park
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Village Square at Dana Park
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Westchase
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Williams Trace Plaza
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Windsor Park
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Minimum | Retail Communities | Woodlake Plaza
Gross Amount at which Carried at End of Period
Depreciation Life	5 years
Maximum | Retail Communities | Ahwatukee Plaza
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Anthem Marketplace
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Anthem Marketplace Phase II
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Bissonnet Beltway
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | BLVD Place
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | The Citadel
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | City View Village
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Davenport Village
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Desert Canyon
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | El Dorado Plaza
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Fountain Hills Plaza
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Fountain Square
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Fulton Ranch Towne Center
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Gilbert Tuscany Village
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Gilbert Tuscany Village Hard Corner
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Heritage Trace Plaza
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Headquarters Village
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Keller Place
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Kempwood Plaza
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | La Mirada
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Las Colinas Village
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Lion Square
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | MarketPlace at Central
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Market Street at DC Ranch
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Mercado at Scottsdale Ranch
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Paradise Plaza
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Parkside Village North
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Parkside Village South
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Pima Norte
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Pinnacle of Scottsdale
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Pinnacle of Scottsdale Phase II
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | The Promenade at Fulton Ranch
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Providence
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Quinlan Crossing
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Seville
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Shaver
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Shops at Pecos Ranch
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Shops at Starwood
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Shops at Starwood Phase III
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | The Shops at Williams Trace
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | South Richey
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Spoerlein Commons
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | The Strand at Huebner Oaks
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | SugarPark Plaza
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Sunridge
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Sunset at Pinnacle Peak
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Terravita Marketplace
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Town Park
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Village Square at Dana Park
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Westchase
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Williams Trace Plaza
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Windsor Park
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Maximum | Retail Communities | Woodlake Plaza
Gross Amount at which Carried at End of Period
Depreciation Life	39 years
Cumulative Effect, Period of Adoption, Adjustment
Gross Amount at which Carried at End of Period
Total	$ 0	0	(95,146)
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at beginning of period	$ 0	0	(95,146)
Additions during the period:
Balance at close of period		$ 0	$ 0

Uncategorized Items - wsr-20201

Label	Element	Value
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	us-gaap:AccountingStandardsUpdate201409Member