Whitestone REIT (WSR), on Thursday, has entered into a definitive merger agreement with funds managed by Ares Management Corp. (ARES).
The transaction is expected to close in the third quarter of 2026.
Under the agreement, Ares will acquire all outstanding shares and operating partnership units in an all-cash transaction valued at approximately $1.7 billion.
The offer price of $19 per share represents a premium of 12.2% to Whitestone's closing price on April 8, and 26.5% to the unaffected share price prior to March 5.
Upon completion, Whitestone will become a private company and its shares will be delisted from the New York Stock Exchange.
Whitestone's portfolio comprises 56 retail properties totaling approximately 4.9 million square feet across key markets including Phoenix, Austin, Dallas-Fort Worth, Houston, and San Antonio.
In the pre-market trading, Whitestone is 10.96% higher at $18.80 on the New York Stock Exchange.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.