Ares to acquire Whitestone REIT for $1.7B all-cash

Ares Management Corporation, through certain Ares Real Estate funds, entered into a definitive merger agreement to acquire Whitestone REIT for $19.00 per share or unit in an all-cash transaction valued at approximately $1.7B. The transaction was approved by Whitestone's board and is expected to close in Q3 2026 subject to customary conditions including shareholder approval. Whitestone owns 56 open-air, convenience-focused retail centers totaling about 4.9M SF, concentrated in Phoenix and fast-growing Texas markets.