Whitney Robinette
Strategic Realty Trust Inc., a publicly registered non-traded real estate investment trust, has appointed Whitney Robinette to serve as chief operating officer. Robinette was appointed to fill the vacancy created upon Domenic Lanni’s appointment as chief executive officer in late summer 2024.
Robinette is a principal at L3 Capital LLC, an affiliate of the REIT’s external adviser, where she is responsible for overseeing L3 Capital’s asset and development management teams. In her position since 2020, Robinette is involved in L3 Capital’s leasing, construction management, debt procurement, and investor relations functions while supporting acquisition efforts.
Prior to joining L3 Capital in April 2013, Robinette served from 2008 to 2013 as portfolio accountant and then senior portfolio accountant in the investor accounting department at Heitman, a global investment management firm. In this role, she was primarily responsible for the reporting and valuation of one of the firm’s largest national retail, office, and residential portfolios.
Robinette is an active member of the International Council of Shopping Centers. She graduated from the University of Illinois Urbana-Champaign with a bachelor’s degree in accountancy.
In other REIT activity, the company consummated the disposition of five operating properties in San Francisco for approximately $10.9 million in cash. As previously reported by The DI Wire, the disposition resulted in net cash proceeds after customary closing and transaction costs of $9.8 million which was used to partially repay the loan from PHP Holding Company VI, LLC and the San Francisco assets were released as security from the deed of trust. The outstanding balance on the loan from PHP Holding Company VI, LLC after the sale of the assets is approximately $8.1 million and is secured by a deed of trust at the Silverlake Collection property in Los Angeles.
Strategic Realty Trust focuses on building a portfolio of high-quality West Coast urban and street retail properties in high-demand locations with solid growth prospects, strong cash flows and visible value appreciation characteristics. The REIT reported having $27.4 million in assets as of June 30, 2024, an approximately 20% year-over-year decrease from its $34.3 million in assets reported in June 2023.
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