Ares Completes $1.7 Billion Acquisition of Whitestone REIT

Corporate Action
โดย Business Wire·Read original
Summary · why it matters

Ares Management Corporation has completed its all-cash acquisition of Whitestone REIT for $19.00 per share, valuing the transaction at approximately $1.7 billion. The deal adds 54 convenience-focused retail properties totaling about 4.8 million square feet to Ares Real Estate's portfolio, located in fast-growing U.S. markets including Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio. Whitestone will no longer be publicly traded following the acquisition. Citigroup Global Markets Inc. served as lead financial advisor and financing provider to Ares, with Morgan Stanley also acting as financial advisor and financing provider, while BofA Securities advised Whitestone and provided a fairness opinion.

Impact on stocks 5

Financials▲ · 3 stocks
Ares Management LP
ARES
▲ PositiveCapitalrelevance

Ares completed a $1.7B acquisition, expanding its real estate portfolio.

Bank of America Corp
BAC
▲ PositiveCapitalrelevance

BofA Securities advised Whitestone and provided a fairness opinion, generating advisory fees.

Morgan Stanley
MS
▲ PositiveCapitalrelevance

Morgan Stanley acted as financial advisor and financing provider to Ares, earning fees.

Digital Finance & Tokenization▲ · 1 stocks
Citigroup Inc.
C
▲ PositiveCapitalrelevance

Citigroup served as lead financial advisor and financing provider to Ares, earning fees.

Real Estate▲ · 1 stocks
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