Whitestone REIT receives acquisition proposal from MCB Real Estate

Whitestone REIT (WSR) shareholders were issued an open letter from MCB Real Estate, a commercial real estate developer and investment management firm with approximately $3B in AUM and the largest actively managed shareholder of Whitestone with ownership of 4,690,000 shares representing 9.2% of Whitestone’s common shares, regarding MCB’s proposal to acquire all of the outstanding shares of Whitestone REIT for $15.20 per share in cash, with no financing contingency. Absent engagement, MCB is considering all available options to ensure that the Board acts in the best interests of shareholders. MCB’s proposal would give Whitestone shareholders $15.20 per share in cash, representing a 21.0% premium to Whitestone’s share price and a 25.0% premium to Whitestone’s 30-day VWAP as of November 3, 2025. MCB’s proposal is backed by fully committed equity along with debt financing supported by a letter from Wells Fargo. MCB intends to vote against the entire Whitestone Board at next year’s Annual Meeting of Shareholders.