MCB Real Estate, a commercial real estate developer and investment management firm with about $3 billion in assets under management, said it has made an offer to acquire all outstanding shares of Whitestone REIT for $15.20 per share in cash.
The company issued an open letter Tuesday to Whitestone shareholders outlining the proposal, which includes no financing contingency. MCB said that without engagement from Whitestone’s board, it is considering all available options to ensure directors act in the best interests of shareholders.
To read the full release, click here.
