Ares Completes Whitestone REIT Acquisition for $1.7B

Ares Management Corporation has completed its previously announced acquisition of Whitestone REIT. The all-cash transaction, valued at approximately $1.7 billion, saw Whitestone shareholders and operating partnership unit holders receive $19.00 per share or unit. Following the completion of the merger, Whitestone REIT will be delisted from all public securities exchanges. Concurrently with the closing, Whitestone repaid and terminated its outstanding obligations under the Fourth Amended and Restated Credit Agreement, the Nationwide Loan, and the Note Purchase and Guaranty Agreement.