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MONMOUTH REAL ESTATE INVESTMENT CORPORATION ANNOUNCES RECEIPT OF UNSOLICITED ACQUISITION PROPOSAL | News

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Monmouth shareholders do not need to take any action at this time

HOLMDEL, NJ, July 12, 2021 (GLOBE NEWSWIRE) – Monmouth Real Estate Investment Corporation (NYSE: MNR) or Monmouth announced today that it has received an unsolicited tender offer from a large private investment company that focuses primarily on global real estate Concentrated participated in the strategic alternative review process conducted by the Monmouth Board of Directors earlier this year and made a proposal to acquire Monmouth as part of that process. Under the terms of its new offering, the investment firm is proposing to purchase 100% of Monmouth’s outstanding equity for a net cash payment of approximately $ 18.70 per share of Monmouth common stock, for a stated purchase price of $ 19.51 per share, reduced by (i) the termination fee payable by Monmouth to Equity Commonwealth or EQC of approximately $ 62.2 million or $ 0.63 per share if Monmouth terminates the Merger Agreement previously entered into with EQC under its terms to accept the new Announces Offering and (ii) the dividend of $ 0.18 per share on Monmouth common stock previously determined by the Monmouth Board of Directors on July 1, 2021 and payable on or about September 15, 2021. Monmouth common stock closed at $ 19.00 per share on July 12, 2021.

The new unsolicited proposal was accompanied by signed commitments from a global commercial bank regarding the investment firm’s planned debt financing and an equity bridge, as well as a proposed form of a merger agreement. The new proposal states that the investment firm has obtained all necessary internal approvals and completed its due diligence.

On May 4, 2021, Monmouth announced that it had entered into a definitive merger agreement with EQC, under which EQC has agreed to sell Monmouth in an all-stock transaction valued at approximately $ 3.4 billion, including the assumption of debt to take over. The combined company is expected to have a pro forma stock market capitalization of approximately $ 5.5 billion.

In accordance with its fiduciary duties and in consultation with its financial and legal advisers, the Monmouth Board of Directors is reviewing the new unsolicited proposal and has not made a decision as to what action to take in response to the proposal. The Monmouth Board of Directors intends to respond in due course and continues to seek to act in the best interests of the company and its shareholders.

JP Morgan Securities LLC and CS Capital Advisors, LLC are serving as financial advisor and Stroock & Stroock & Lavan LLP is serving as legal advisor to Monmouth.

About Monmouth

Founded in 1968, Monmouth Real Estate Investment Corporation is one of the oldest public equity REITs in the world. The company specializes in single-tenant net-lease industrial properties that are rented out on a long-term basis, mainly to tenants with investment grade ratings. Monmouth Real Estate Investment Corporation is a fully integrated, self-managed real estate company whose real estate portfolio consists of 120 properties totaling approximately 24.5 million square feet of lettable space, geographically spread across 31 states. The company’s occupancy rate at this point is 99.7%.

Forward-Looking Statements

Some of the statements contained in this press release constitute forward-looking statements within the meaning of federal securities laws, including, but not limited to, statements regarding the merger with EQC. All forward-looking statements in this press release are intended to be made in accordance with the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, expected events or trends, and similar statements about matters that are not historical facts. In some instances, you can identify forward-looking statements by using forward-looking terminology such as “may,” “will,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “Projections,” “potential,” or the negative of these words and phrases or similar words or phrases that are predictions or indications of future events or trends and are not related solely to historical matters. You can also identify forward-looking statements by discussing strategies, plans, or intentions. All forward-looking statements in this press release reflect Monmouth’s current beliefs about future events and are subject to numerous known and unknown risks, uncertainties, assumptions and changes in circumstances that could cause actual results to differ materially from those expressed in any forward-looking statements. For further discussion of other factors that could cause Monmouth’s future results to differ materially from forward-looking statements, see the “Risk Factors” section in Monmouth’s latest Annual Report on Form 10-K and in its Quarterly Reports on Form 10-Q. While forward-looking statements reflect Monmouth’s beliefs, they are not guarantees of future performance. Monmouth disclaims any obligation to publicly update or revise any forward-looking statements to reflect changes in underlying assumptions or factors, new information, data or method, future events or other changes.

Participant in the tender

Monmouth and some of its directors and officers, as well as other employees, may be considered participants in the solicitation of proxies from Monmouth’s shareholders in connection with the proposed merger with EQC under SEC rules. Investors can obtain information regarding the names, affiliations, and interests of Monmouth’s directors and officers in Monmouth’s Annual Report on Form 10-K for Monmouth’s fiscal year ended September 30, 2020, which was filed with the SEC on November 23, 2020, as as well as Monmouth’s other filings with the SEC. Further information on the participants in the proxy recruitment and a description of their direct and indirect interests, by holdings or otherwise, is contained in the proxy statement / prospectus and other relevant proxy materials filed with the SEC in relation to the proposed merger.

No offer or solicitation

This announcement does not constitute an offer to buy or sell, or a solicitation of an offer to buy or sell any securities, or a solicitation of a vote or approval, nor does a sale of securities in any jurisdiction in which such offer or solicitation take place or such sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No securities may be offered unless it is a prospectus that complies with Section 10 of the US Securities Act of 1933, as amended.

Additional information and where to find it

In connection with the proposed merger with EQC, Monmouth intends to file a proxy statement / prospectus with the US Securities and Exchange Commission which will be sent to Monmouth common shareholders with a request for approval of the proposed merger, EQC common shareholders who have given their consent soliciting the issue of EQC common shares in connection with the merger. Monmouth and EQC may also file other documents with the SEC regarding the proposed merger. This press release is not intended as a substitute for any filings or other documents that Monmouth and / or EQC may file with the SEC in connection with the proposed merger. PRIOR TO ANY VOTE OR AN INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS ARE REQUIRED TO FOLLOW THE FINAL DECLARATION OF MEETING / PROSPECTUS, AS WELL AS ALL OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AND ANY ADDITIONAL SUPPLIES. CAREFULLY AND IN YOUR ENTIRETY, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT MONMOUTH, EQC AND THE PROPOSED MERGER. Investors and security holders can obtain free copies of the proxy statement / prospectus and other documents Monmouth has filed with the SEC through the SEC’s website at www.sec.gov when they become available. In addition, investors and security holders can obtain free copies of the proxy statement / prospectus and other documents filed with the SEC on Monmouth’s website at www.mreic.reit. receive

Contacts:

Investors Becky Coleridge (732) 577-9996 mreic@mreic.com

Media Andrew Siegel / Amy Feng / Kara Brickman Joele Frank (212) 355-4449

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Forget about asking price for CNY real estate. Plus, National Guard deployed to help nursing homes (Good Morning CNY for Dec. 3)

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High: 36; Low: 28. Partly sunny, cool. Check out the 5 day forecast.

picture of the Day

“We had a thousand balls here,” says Mark Koester of the past 14 years at his home at 2119 Conley Road near Chittenango. Climb down the steps, jump off the diving board, or slide down the slide into the heated swimming pool.Courtesy of Simply Heidi Photography

HOUSE OF THE WEEK: This Chittenango house, built in 2003, was designed for families. It sits on 6.45 acres and checks in on 6,406 square feet and has plenty of room to play. And if you think the pool is beautiful, just take a look inside.

What’s hot

Are you looking for a house in CNY? Forget the asking price: the real estate market in central New York has been on fire for much of the year, and a great indicator of the heat is how close sellers are getting to their asking prices. For months they have not only grown closer. You got more.

New York State is using the National Guard to support low-staffed nursing homes: Nursing homes, such as hospitals and other health facilities, are grappling with a severe shortage of nurses and other health workers. To cope with this, the New York National Guard is sending 120 of its medical staff to low-demand nursing homes across the state, including Loretto in Syracuse.

  • The nursing home in Syracuse will reopen the Covid unit to ease the hospital shutdown

While New York licensing lags, Indian nations are increasing marijuana sales: It’s been eight months since New York state legalized the possession and use of adult marijuana. Yet the state has still not enacted regulations or issued licenses to sell, which is delaying the opening of retail stores. Several Native American nations in New York have filled the void, citing sovereign nation status.

Future uncertain for planned Microsoft tech hub in Syracuse: In 2019, the software giant Microsoft announced plans to build a “Smart Cities technology hub” in Syracuse and signed a three-year agreement with the city, Onondaga County and Syracuse University . Two years after signing the contract, City Councilor Michael Greene says that Microsoft “did not have the decency to give us a clear answer where they stand” with the project.

looking ahead

Are you ready for a challenge? Don’t you go after waterfalls? We say chase away in upstate New York with a new challenge that brings people to some of the 150 breathtaking cascades that Ithaca has to offer. The Waterfalls Challenge, launched by Visit Ithaca, lists 22 known and hidden gems in the area.

Sports

Runners run on a track during a meeting

The Jack Morse Kickoff Meet will take place on Thursday in the SRC Arena of the Onondaga Community College.Marilu Lopez-Fretts | Contributing photographer

WESTHILL, BALDWINSVILLE TEAMS WIN AT JACK MORSE RELAYS: Athletes from Section III schools participated in the second day of the Jack Morse Relays at the SRC Arena on the Onondaga Community College Campus on Thursday. The Westhill girls ‘and Baldwinsville boys’ teams were victorious. See the results and more than 70 photos from the event. (See results and photos from Wednesday here) (Marilu Lopez-Frett’s photo)

Old Rival Back on the Syracuse Lacrosse Scheme: One of Syracuse men’s lacrosse’s fiercest rivals is back on its way, and a new Orange coach is set to make some serious flashbacks.

How did the SU women beat a top 20 team after 3 losses in the Bahamas? The Syracuse women’s basketball team had a rough time in the Bahamas last week, trailing in all three games in Battle 4 Atlantis. The team took some of their frustration with a win over Colgate on Sunday, but the Orange needed more. The opportunity came with Ohio State No. 18 in town for the Big Ten / ACC Challenge, and SU took the opportunity.

FURTHER SPORT NEWS:

In the letter

A Syracuse man requests a plea for the murder of a 15-year-old boy in Creekwalk. DA drops large numbers

Byrne Dairy & Deli are closing down a shop that has been in operation for nearly 50 years

Watch an exclusive courtroom video in which Anthony Broadwater was acquitted of Alice Sebold’s rape 40 years later

CNY Wishlist: Would you like to help? Here’s a wishlist from local nonprofits

Rome woman killed in head-on collision, 2 more hospitalized, soldiers say

A rainy summer in Syracuse revealed a growing problem: black mold

Man dies after striking a power pole during a medical emergency in Syracuse, police say

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My holiday wish list for commercial real estate – Daily News

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With Thanksgiving lately, Hanukkah in full swing, and Christmas in less than 30 days … it’s time for some Christmas cheer!

Countless children around the world – including our five grandchildren – are putting together their lists. So I thought it would be fun to draw my five hopes for the 2022 commercial real estate market – aka my gift list for the coming year.

So without further ado, here it goes.

A more balanced market. Industrial real estate – buildings where people make, store, and ship things – have fallen by the wayside for the past six years. Currently, fewer than 1 in 100 buildings have no residents!

We find an acute imbalance when there is a demand that exceeds supply, the lack of new buildings, changes in consumer shopping habits and an excessive appetite for things. As a result, the prices of listings have skyrocketed and many people are wondering if rents are sustainable.

So I would like a little more common sense.

Vanishing office insecurity. II have said many times that transactions take place when activity increases or decreases. But uncertainty is a killer for a company that relies on movement.

There have been some big Amazon office deals in the market – like the purchase of the former Orange County Register Printing Office in Santa Ana and the Bank of America campus in Brea. For both, however, a change of use is pending. The former suites of executives, middle management and office workers will be eliminated and replaced by countless blue delivery vans.

The pandemic changed the office paradigm. Companies countered with “hybrid” approaches that required smaller floor space, virtual workstations and less collaborative layouts.

I would like some long-term leases for large office buildings here.

Solution to the port problem. Talk about a perfect storm that’s like an anaconda eating a Thanksgiving meal or six: the accumulation of ecommerce containers slowly moving through the supply chain.

Many people are much better informed than me about the causes. All points in the supply chain are simply squashed – which leads to massive delays, bottlenecks and escalating price tags. Certainly some reduction in regulation would help. A little more storage space could help too. Are you asking America to stop shopping for a while?

I would like a stable flow of goods until July 4th.

Interest rates still low. Rising interest rates could be the best thing for us – like tearing off a bandage. But wow! How incredibly painful for an economy that depends on cheap money.

Our 10-year Treasuries rate – the benchmark for commercial real estate lending – has been hovering in the low 1% range for a number of years. Great for borrowers but terrible for savers. As our population ages and more of us have steady incomes, an increase in returns would be welcome. Don’t forget, however, that $ 1.2 trillion in stimulus goodies is to be paid back. Rising interest rates would make amortization more expensive.

All in all, I would like more of it.

A more diverse industry. Commercial real estate brokerage has been dominated by men in the past. However, two fall conferences that we attended showed a change.

I was thrilled to see over 40% women and minorities at the Commercial Real Estate Influencers Summit and the Society of Industrial and Office Realtors Global Event.

It is my wish that the face of commercial real estate reflects our world.

Allen C. Buchanan, SIOR, is a Principal at Lee & Associates Commercial Real Estate Services, Orange. He can be reached at abuchanan@lee-associates.com or 714.564.7104.

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Dec 2 Financial News: Cathie Wood, San Francisco In Trouble, Real Estate Market, Gov Shutdown, | SF News – Oakland News Now

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Oakland news now –

December 2 Financial News: Cathie Wood, San Francisco in Trouble, Real Estate Market, Government Shutdown,

– YouTube channel video with the logo in the top left corner of the video. OaklandNewsNow.com is the original blog post for this type of video blog content.

BUY NEW BOOK HERE https://ift.tt/3kZnaaw FREE 10-page PDF: I wrote this paper as a guide to help you get your next rental …

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Note from Zennie62Media and OaklandNewsNow.com: This video blog post demonstrates the full and live operation of the latest updated version of an experimental Zennie62Media, Inc. network for video blogging systems for mobile media that launched in June 2018, The new and Zennie62Media, Inc.’s innovative approach to news media production. What we call “The Third Wave of Media”. The uploaded video is from a YouTube channel. When YouTube Video Search uploads a video from a search for San Francisco News Today News Today Vlogs, it is automatically uploaded and formatted to the Oakland News Now site and Zennie62-created and custom social media pages. The overall goal here is, in addition to our smartphone-enabled, real-time reporting of news, interviews, observations and events anywhere in the world and within seconds rather than hours – is the use of the existing YouTube social graphic on any topic in the world. News is now reported with the smartphone and also by promoting the latest content on YouTube: There is no need for heavy and expensive cameras or even a laptop, or to have a camera team to film what is already on YouTube. The secondary goal is faster and very inexpensive production and distribution of media content. We have found that there is a discrepancy between post length and time to product and revenue generated. This means that the problem is much smaller, but by no means solved. Zennie62Media is constantly working to improve the system’s network encoding and is looking for interested content and media technology partners.

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