Story perspectives

Ares Management to Acquire Whitestone REIT for $1.7 Billion

4/9/2026

Summary

Story summary

Ares Management Corporation agreed to acquire Whitestone REIT for $1.7 billion in cash.
Whitestone REIT's board unanimously approved the deal, with shareholders to receive $19 per unit, a 12.2% premium.
The deal would take Whitestone private and is expected to close in Q3 2026, pending approval.
Whitestone's portfolio spans 56 retail properties in Texas and Arizona.
The deal followed pressure from activist Emmett Investment Management criticizing Whitestone's governance and capital strategies.

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Story summary

Ares Management Corporation agreed to acquire Whitestone REIT for $1.7 billion in cash.
Whitestone REIT's board unanimously approved the deal, with shareholders to receive $19 per unit, a 12.2% premium.
The deal would take Whitestone private and is expected to close in Q3 2026, pending approval.
Whitestone's portfolio spans 56 retail properties in Texas and Arizona.
The deal followed pressure from activist Emmett Investment Management criticizing Whitestone's governance and capital strategies.