Ares acquires Whitestone REIT for $1.7B
Analysis based on 6 articles · First reported Apr 09, 2026 · Last updated Apr 09, 2026
The acquisition of Whitestone REIT by Elliott Investment Management for $1.7 billion will result in Whitestone REIT becoming a private company, leading to its de-registration from the NYSE. This transaction provides a significant premium to Whitestone REIT shareholders and allows Elliott Investment Management to expand its real estate portfolio in high-growth markets.
Elliott Investment Management, through its Ares Real Estate funds, has entered into a definitive merger agreement to acquire Whitestone REIT for approximately $1.7 billion. The all-cash transaction values Whitestone REIT shares and operating partnership units at $19.00 per share/unit, representing a 12.2% premium to its closing stock price on April 8, 2026, and a 26.5% premium to its unaffected share price prior to a Reuters article on March 5, 2026, announcing Whitestone REIT was exploring a sale. The acquisition, unanimously approved by the Whitestone REIT Board of Trustees, is expected to close in the third quarter of 2026, subject to shareholder approval. Upon completion, Whitestone REIT will become a private company and its shares will no longer trade on the NYSE. Whitestone REIT's portfolio consists of 56 convenience-focused retail properties in fast-growing markets across Arizona and Texas. Advisors for Whitestone REIT include Meritz Securities and JLL (company) (financial) and Bass, Berry & Sims (legal). Advisors for Elliott Investment Management include Citigroup — Citigroup Global Markets and Morgan Stanley & Co. LLC (financial) and Kirkland & Ellis LLP (legal).
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