This entry is sourced from Ares's Exhibit 99.1 press release filed as part of Whitestone's 8-K on July 14, 2026, announcing that the acquisition had already closed. With completion, Whitestone ceased to be traded or listed on any public securities exchange.
Citigroup Global Markets Inc. acted as lead financial advisor and financing provider to Ares, with Morgan Stanley also acting as financial advisor and financing provider. BofA Securities served as Whitestone's financial advisor and provided a fairness opinion to Whitestone's Board of Trustees; Jones Lang LaSalle Securities also served as a financial advisor to Whitestone.
Kirkland & Ellis LLP served as legal advisor to Ares. Dechert LLP served as legal advisor to Citigroup Global Markets Inc. and Morgan Stanley in their capacity as financing providers. Bass Berry & Sims served as Whitestone's legal advisor.
The transaction closed at $19.00 per share or operating partnership unit, in an all-cash deal valued at approximately $1.7 billion. Additional information regarding the disbursement of merger consideration to Whitestone shareholders was stated to be available in an 8-K filed by Whitestone with the SEC, which was not separately reviewed for this extraction.
The release does not disclose the original signing date of the merger agreement (only that the acquisition had been "previously announced"), a breakdown of the $1.7 billion valuation into equity versus assumed debt components, any termination fee that had applied prior to closing, or specific fee arrangements for any of the four named financial advisors or three named law firms.