According to sources familiar with the matter, shopping mall operator Whitestone REIT has hired an investment bank to advise on a potential sale, as private equity giants Blackstone and TPG are bidding for the company.

Sources indicate that Whitestone REIT has recently commissioned financial institutions such as Bank of America to evaluate strategic options, including a possible sale of the company as a whole. Currently, both Blackstone and TPG have shown acquisition interest, but specific offer details have not yet been disclosed. Industry insiders analyze that if this deal is completed, it will mark a new wave of consolidation in the shopping center real estate investment trust sector. As consumer patterns shift, such assets are regaining capital favor through renovation and upgrades.