Kirkland Advises Ares on Close of $1.7 Billion Whitestone REIT Acquisition
Kirkland & Ellis advised Ares Management Corporation (NYSE: ARES) on the close of the acquisition of Whitestone REIT (NYSE: WSR). Ares Real Estate funds purchased the outstanding Whitestone common shares and operating partnership units for $19.00 per share or unit in an all-cash transaction valued at approximately $1.7 billion. The transaction adds to Ares Real Estate’s portfolio a footprint of 54 high-quality, convenience-focused retail properties totaling approximately 4.8 million square feet across fast-growing markets in the United States, including Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio.
Read the transaction press release
The Kirkland team included real estate lawyer Michelle Kelban; and corporate lawyers Jonathan Benloulou; Emily Lichtenheld, Daniel Elizondo and Natasha Shah.
