Following acquisition interest from major real estate players, Houston-based Whitestone REIT has hired Bank of America to oversee the proceedings.
The shopping center REIT has seen acquisition interest from Blackstone and TPG, according to sources that spoke to Reuters. For years, Whitestone has faced pressure to go private from stakeholders citing concerns about the REIT’s leadership and finances.
Nothing has been finalized, and there’s no guarantee a sale will even take place, according to Reuters.
One of Whitestone’s majority owners, Emmett Investment Management, nominated four candidates to replace the majority of the REIT’s board of directors. The company has hinted at a potential proxy fight for…