Whitestone REIT to be Acquired by Ares Management

By Chris Stiles • Thursday, April 09 11:23 • Permanent Link

Whitestone REIT agreed to be acquired by Ares Management in an all-cash deal valued at about $1.7 billion, with shareholders set to receive $19.00 per share or unit.

The offer price is 12.2% above Whitestone’s April 8 closing price and 26.5% above the unaffected price before a March 5 Reuters report that the company had hired advisers to explore a sale.

Whitestone said its portfolio as of March 31 totaled 56 retail properties spanning about 4.9 million square feet, concentrated in Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio.

The company’s board unanimously approved the transaction, which is expected to close in the third quarter of 2026. Once the deal closes, Whitestone will go private and its shares will stop trading on the NYSE.

Ares said the acquisition will add necessity-based retail centers in supply-constrained metro areas across Arizona and Texas to its real estate platform. Ares Management reported nearly $623 billion of assets under management as of Dec. 31, 2025. Following these announcements, the company's shares moved 0.62%, and are now trading at a price of $16.18. For the full picture, make sure to review Whitestone REIT's 8-K report.

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