Ares completes acquisition of Whitestone REIT for $19 per share in $1.7 billion deal

Ares Real Estate funds completed the acquisition of all outstanding Whitestone REIT common shares and operating partnership units for $19 per share or unit.

The all-cash deal values Whitestone at about $1.7 billion.

The transaction adds 54 convenience-focused retail properties totaling about 4.8 million square feet in fast-growing U.S. markets.

Whitestone will no longer trade or be listed on any public securities exchange.