Schanzer’s Erez Asks Whitestone REIT to Sell Company, Assets

Bruce Schanzer’s Erez Asset Management LLC has asked retail landlord Whitestone REIT to consider selling its portfolio in whole or in part, a person with knowledge of the matter said.

In a letter to the real estate investment trust’s board earlier this month, Erez asked Whitestone to pursue an orderly and well-managed corporate unwind or sale of the company, citing its belief that Whitestone could fetch at least $14 per share, according to the person. In the letter, Erez, an investment firm focused on small-cap REITs, described itself as a Whitestone shareholder, the person said, asking not to be ...