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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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Sera Global Continues Expansion of Real Estate Expertise with Hire of Six Industry Leaders

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NEW YORK, 4th August 2021 / PRNewswire / – Sera Global (“Sera”), a leading global independent real estate advisor, today announced the continued expansion of its real estate business with the hiring of five partners and an executive director. famous North America and Europe.

The new employees bring a wealth of experience to Sera’s growing real estate team. These professionals, who move into Private Capital Advisory (PCA) and Investment Banking, further underscore how Sera is building an integrated advisory platform to meet clients’ strategic priorities across their business or asset lifecycle.

“We are excited to welcome each of these talented individuals to our growing global team and are excited about the extensive real estate knowledge and experience they will bring to our client base,” said Leo van den Thillart, Managing Partner and Global Head of Sera. “These people are central to realizing our vision as a holistic strategic advisor as our clients continue to seek long-term partnerships with specialist real estate expertise in investment banking, private capital advisory and liquidity solutions.”

  • Bailey Puntereri, Partner joins Sera’s private capital advisory business new Yorkwhere he will be responsible for institutional investor and advisor coverage as well as advising property operators and managers on capital raising strategies, vehicle structuring and equity placement. He brings almost 20 years of experience in commercial real estate and most recently served as a Principal in the real estate sales team at PJT Park Hill, serving institutional investors along the East Coast and Southern United States.
  • James Park, Partner strengthens Sera’s investment banking team in new York from Evercore, where he served as a managing director in the real estate consultancy practice. Previously, he was also Managing Director at UBS in their Real Estate Lodging and Leisure (RELL) Group, both in London and Singapore. At Sera, he will be responsible for M&A, strategy and fundraising advice for public and private companies and sponsors.
  • Patricia Wilkinson, Partner will be responsible for the project management function for Real Assets for Sera Global’s Private Capital Advisory business and will also be responsible for advising general partners, operating companies and managers of Real Assets on capital formation and fund strategy, as well as overseeing the fundraising process and business development . She joins Sera from Threadmark, where she was responsible for project management and origination worldwide.
  • Alexandra Cromer, Partner becomes Co-Head of Project Management and Deal Management for Sera Global’s Private Capital Advisory business. Prior to joining Sera, Alexandra was with Atlantic-Pacific Capital for over 13 years, providing strategic advice and management services for primary fundraising, co-investments and direct transactions to a number of infrastructure and real estate clients.
  • Eoin Bastible, Partner comes from UBS Asset Management, where he has been Head of Business Development EMEA for Real Estate and Private Markets since 2014. Seat in London, he will be responsible for Funding, Origination and Business Development for Private Capital Advisory in EMEA.
  • Ian Currie, Executive Director becomes Executive Director in Sera’s Private Capital Advisory business, based in London. Ian was previously Executive Director at MEC Global Partners, Mitsubishi Estate’s investment platform.

“As our customers develop their business and growth strategies, these people will help drive our integrated approach to customer solutions and help us achieve their long-term goals,” said Maggie Coleman, Managing Partner, Real Estate Private Capital Advisory at Sera Global. “We look forward to expanding our portfolio of real estate advisors as we accelerate our delivery of solutions to global markets.”

These appointments follow the recent addition of Michael Yang and Kilian Toms Head of the Liquidity Solutions / Secondaries Practice of Sera and Maria Kang | and Stephane Marguier to drive the North American and European expansion of Sera’s infrastructure PCA business, both key pillars of Sera’s integrated approach to strategic advice.

About Sera Global

Sera Global is a leading global real estate advisor with over $ 100 billion in the previous transaction volume; Sera management has more than $ 300 billion of capital. The company offers integrated investment banking, private capital and strategic advisory services in the real estate, infrastructure and renewable energy sectors. Sera is co-headquartered in New York, NY and London, United Kingdom with own offices in The angel, Toronto, and Seoul.

Contact:
Anne Hart / Claire Walsh
[email protected] / [email protected]

SOURCE will be global

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Modiv Completes Three Commercial Real Estate Transactions in Texas | News

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Newport Beach, Calif., Aug. 3, 2021 (GLOBE NEWSWIRE) – The transactions include an acquisition, property sale and lease renewal, indicating healthy portfolio activity for Modiv in the Texas real estate market

Modiv Inc., an innovative real estate, fintech and proptech asset manager, today announced the completion of three separate commercial real estate transactions in central Texas. The transactions include an acquisition and rental extension in San Antonio and a property sale in the greater Austin area with a cumulative total of 99,265 square feet of real estate.

Texas Transaction Details include:

Acquired a 3,800 square foot fast food restaurant leased to Raising Cane’s® located at 19110 Stone Oak Parkway in San Antonio. Founded in 1996,

Raising canes

is a popular and growing fast food brand that specializes in chicken fingers and operates approximately 550 restaurants in 30 states and the Middle East. The property is on a major thoroughfare near schools, medical facilities, and new housing developments. An eight year lease extension for a Pre-K 4 SA Educational Center on 1255 Old Highway 90 W in San Antonio. The 50,000 square foot facility is leased to the San Antonio Early Childhood Development Corporation (“Early Childhood”) and the lease is guaranteed by the City of San Antonio. This pre-K center is one of four in the San Antonio market and has an enrollment of over 400 students. Modiv worked closely with the board of directors of Early Childhood on the transaction so that the center can continue its mission of delivering high quality, high impact early childhood education to the San Antonio community at 5900 183A Frontage Road in Cedar Park became with an aerospace technology company completed. Pricing came before the most recent independent assessment that shows the strength of the greater Austin commercial real estate market.

“These transactions reflect our team’s ability to add value and actively manage our diverse real estate portfolio,” said David Collins, chief property officer at Modiv, based in Dallas. “We remain optimistic about the continued growth of the Texas commercial real estate market and we believe our investments in the area can provide long-term value to our investors.”

Within Texas, Modiv also owns an office property leased to Texas Health Resources in Dallas and a retail property leased to Dollar General in Big Spring.

Forward-Looking Statements Certain statements contained herein, other than historical facts, may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Exchange Act of 1934 as amended (the “Exchange Act”). Modiv intends that all such forward-looking statements be subject to the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act, Section 21E of the Exchange Act and other applicable laws. Such statements include, in particular, statements about Modiv’s ability to add value and actively manage its portfolio, the strength of the Texas real estate market and its ability to create long-term value. Therefore, such statements are not guarantees of future results and are subject to risks, uncertainties and other factors, some of which are beyond Modiv’s control, which are difficult to predict and which could cause actual results to differ materially from those expressed in the forward-looking statements implied differ. seek statements. Accordingly, Modiv makes no representations or warranties, express or implied, as to the accuracy of any forward-looking statements contained herein. Unless otherwise required by federal securities laws, Modiv assumes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unforeseen events, or changes in future operating results, whether as a result of new information, future events or otherwise.

About Modiv Modiv Inc., a real estate, fintech and proptech asset manager, is reinventing modern real estate investments for retail investors. Driven by innovation, a focus on investors and an experienced management team, Modiv has created one of the largest unlisted real estate funds raised through crowdfunding technology and the first real estate crowdfunding platform wholly owned by investors. Modiv offers retail investors access to real estate and property-related investments that are designed to generate both income and long-term growth. To learn more, visit modiv.com.

Contact Associate Vice President Hudson Pitts RUBENSTEIN hpitts@rubenstein.com 248-767-1688

Copyright 2021 GlobeNewswire, Inc.

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SEC files complaint alleging Vestin Mortgage owner defrauded investors

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A Las Vegas executive who runs several real estate firms and once taught real estate law at the UNLV has been charged with securities fraud.

The US Securities and Exchange Commission announced last week that it had charged Vestin mortgage owner Michael Shustek with defrauding investors for alleging he owned himself and one of his businesses “at the expense” of two others fraudulently enriched real estate investment firms he founded.

According to the agency, Shustek allegedly “withdrew $ 29 million” from these two firms to “move the money into the third” and later “ran a series of money loss transactions in which the same six buildings were repeatedly resold, all for” utility for himself ”and one of his companies.

He is also alleged to have “deceived” the boards of two of his firms into trying to get them to pay him nearly $ 10 million and induced the companies to “make false and misleading statements in their public filings that hid his self-dealing “Claimed the SEC in a press release.

This is not the first time the agency has made allegations against 62-year-old Shustek, whom they described as a “recidivist” in last week’s press release.

An outside communications company told the review journal on Tuesday that Shustek was unable to comment on or interview the SEC complaint filed with the Nevada District Court.

The firm also issued a statement from Shustek’s attorney Manny Abascal of Latham & Watkins law firm in Los Angeles, who said his client was “a successful real estate entrepreneur and an integral part of the Las Vegas business world.”

“The SEC’s complaint falsely alleges that Mr. Shustek exploited two companies several years ago without disclosing that he is the founder and largest shareholder in those companies,” Abascal said. “Mr. Shustek has successfully run these businesses for over twenty years, surviving multiple recessions, a pandemic and, more recently, a relentless three-year investigation by disgruntled former business partners.”

Abascal, who did not name these partners, added that Shustek “looks forward to challenging these ancient and unfounded claims and clearing his name.”

In its 17-page complaint, the SEC alleged that since at least 2012, Shustek has “orchestrated a number of different and complex fraudulent schemes that have one common theme: He has found ways to get rich at the expense of those who have invested in companies, that he ran. “

The agency claimed he had “control” over two real estate investment trusts that “bear the brunt of his misconduct,” Vestin Realty Mortgage I and Vestin Realty Mortgage II. In a “shameless plot,” Shustek allegedly reported “$ 29 million skimmed from the trusts and the money directed into a newer company called The Parking REIT, ”said the SEC.

The lawsuit comes nearly 15 years after the SEC, in a 2006 settlement with Shustek, ordered him to “cease” any breach of securities law and pay a civil penalty of $ 100,000.

At the time, the agency said that Shustek and two of his companies had raised approximately $ 560 million from investors since 2000 and allegedly “deliberately violated” securities laws. In the context of the settlement, Shustek neither admitted nor denied the SEC’s claims.

In a 2012 securities filing – in which Shustek planned to raise up to $ 550 million for a real estate company – his biography stated that he was visiting professor at UNLV and had also taught a course in real estate law and ethics at the university .

UNLV spokesman Tony Allen said Tuesday that, as the school previously stated, Shustek “has been a regular guest speaker over the years in business school classes on topics such as real estate law,” possibly from the late 1990s to the 2000s.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.

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