Ares Management to Acquire Whitestone REIT in $1.7 Billion All-Cash Deal
Alternative investment manager Ares Management has reached an agreement to acquire Whitestone REIT, a Houston-based real estate investment trust, in an all-cash transaction valued at approximately $1.7 billion. Under the terms of the deal, Ares will pay $19 per share for Whitestone stock, representing a 12% premium over the company's closing price of $16.94 on Wednesday. This acquisition marks a significant consolidation in the commercial real estate sector, allowing Ares to expand its portfolio of retail properties. The announcement was made on Thursday by both companies, highlighting the strategic value of Whitestone's assets. The transaction is expected to provide immediate liquidity to Whitestone shareholders while integrating the REIT into Ares' broader alternative investment framework.
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Ares Management to Acquire Whitestone REIT in $1.7 Billion All-Cash Deal
Alternative investment manager Ares Management has reached an agreement to acquire Whitestone REIT, a Houston-based real estate investment trust, in an all-cash transaction valued at approximately $1.7 billion. Under the terms of the deal, Ares will pay $19 per share for Whitestone stock, representing a 12% premium over the company's closing price of $16.94 on Wednesday. This acquisition marks a significant consolidation in the commercial real estate sector, allowing Ares to expand its portfolio of retail properties. The announcement was made on Thursday by both companies, highlighting the strategic value of Whitestone's assets. The transaction is expected to provide immediate liquidity to Whitestone shareholders while integrating the REIT into Ares' broader alternative investment framework.
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