News
Ares Management · REIT Acquisition · Retail Real Estate · Whitestone REIT
Ares Management Corporation funds will acquire Whitestone REIT (NYSE: WSR) in an all-cash transaction valued at approximately $1.7 billion, with Whitestone shareholders receiving $19.00 per share or unit, representing a 12.2% premium to its April 8, 2026 closing price.
This purchase price also reflects a 26.5% premium to Whitestone’s unaffected share price prior to the March 5, 2026 Reuters article announcing the exploration of a sale. Whitestone’s portfolio, as of March 31, 2026, includes 56 high-quality, convenience-focused retail properties totaling approximately 4.9 million square feet in rapidly growing markets such as Phoenix, Austin, and Houston.
Whitestone CEO Dave Holeman stated the transaction validates their strategy of high-return smaller spaces. David Roth, Global Head of Real Estate Strategy and Growth at Ares Real Estate, confirmed the acquisition diversifies Ares' footprint with necessity-based retail centers in high-demand, supply-constrained metro regions.
The transaction, unanimously approved by the Whitestone Board of Trustees, is expected to close in the third quarter of 2026 and is not subject to a financing condition. Upon completion, Whitestone will become a private company.
