Ares Real Estate funds complete $1.7 billion acquisition of Whitestone REIT
Ares Real Estate funds completed the acquisition of all outstanding Whitestone REIT common shares and operating partnership units for $19.00 per share or unit in an all-cash transaction valued at approximately $1.7 billion. The transaction closed on July 14, 2026, and adds 54 retail properties totaling approximately 4.8 million square feet to Ares's real estate portfolio. Following the closing, Whitestone's common shares were delisted from the New York Stock Exchange and trading was suspended; the surviving company intends to file Form 15 to deregister under Section 12(g) of the Securities Exchange Act.
Key facts
- Merger consideration: $19.00 per share or unit, all-cash
- Transaction value: approximately $1.7 billion
- Portfolio acquired: 54 high-quality, convenience-focused retail properties totaling approximately 4.8 million square feet
- Closing date: July 14, 2026
- NYSE trading suspended July 14, 2026; NYSE delisting Form 25 filed
- Time-based restricted unit awards fully vested and cancelled for cash at merger consideration
- TSR unit awards earned and vested at target or actual performance, whichever greater
- Fourth Amended and Restated Credit Agreement (Bank of Montreal, dated September 19, 2025) repaid and terminated
- Nationwide Loan (dated June 21, 2024) repaid and terminated
- Note Purchase and Guaranty Agreement (dated March 22, 2019, amended December 16, 2022) repaid and terminated
Why it matters
Whitestone REIT has been acquired and ceases to exist as a public company; shareholders received $19.00 per share in cash, equity awards were settled at the merger consideration, and all debt facilities were repaid and terminated at closing.
Developing story
- 25-NSE
- 8-Kthis filing
Share
Derived from 8-K filed 2026-07-14. Not investment advice. View the source filing on SEC.gov →