Whitestone REIT Shareholders Approve $1.7 Billion Acquisition by Ares Real Estate Funds
Whitestone REIT (WSR) said late Thursday that its shareholders have approved the company's proposed $1.7 billion all-cash acquisition by funds managed by Ares Management's (ARES) real estate investment division, Ares Real Estate, at a special meeting. Under the merger agreement announced on April 8, certain Ares Real Estate funds will acquire all outstanding Whitestone common shares and operating partnership units for $19 per share or unit. The deal is expected to close on or about July 14, subject to the satisfaction or waiver of the remaining customary closing conditions, Whitestone said.
Whitestone REIT (WSR) said late Thursday that its shareholders have approved the company's proposed $1.7 billion all-cash acquisition by funds managed by Ares Management's (ARES) real estate investment division, Ares Real Estate, at a special meeting.
Under the merger agreement announced on April 8, certain Ares Real Estate funds will acquire all outstanding Whitestone common shares and operating partnership units for $19 per share or unit.
The deal is expected to close on or about July 14, subject to the satisfaction or waiver of the remaining customary closing conditions, Whitestone said.