Ares Real Estate to Acquire Whitestone REIT in $1.7 Billion Cash Deal

Apr 09, 2026 10:09 UTC

WSR, ARES

Short term

Ares Real Estate funds have reached a definitive agreement to acquire Whitestone REIT for $19 per share. The all-cash transaction values the company at approximately $1.7 billion.

All-cash transaction valued at approximately $1.7 billion
Acquisition price set at $19 per share
Represents a 12.2% premium to the closing price
Definitive merger agreement has been signed

Whitestone REIT (WSR) will be taken private following a definitive merger agreement with funds managed by Ares Real Estate. The deal is structured as an all-cash acquisition, providing immediate liquidity to the REIT's shareholders. The acquisition reflects ongoing consolidation within the real estate investment trust sector as private equity firms seek stable, income-generating assets. By absorbing Whitestone, Ares expands its footprint in the commercial real estate landscape. Under the terms of the agreement, Ares will pay $19 per share. This purchase price represents a 12.2% premium over Whitestone’s most recent closing stock price. The transaction is expected to lead to the delisting of WSR from public markets once the merger is finalized. Market participants may view this acquisition as a valuation benchmark for similar small-to-mid-cap commercial property holdings in the current interest rate environment.