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Monmouth Real Estate Investment Corporation Announces Receipt of Amendment to Unsolicited … | News



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

HOLMDEL, NJ, July 16, 2021 (GLOBE NEWSWIRE) – Monmouth Real Estate Investment Corporation (NYSE: MNR, “Monmouth” or “the Company”) announced today that it has received an amendment to the unsolicited tender offer it has received had previously received on July 8, 2021 from a certain large private investment firm. The change in proposal reflects an increase of $ 0.18 per share in consideration that would be paid for each Monmouth common share, resulting in a net cash payment of $ 18.88 per share, which is a stated purchase price of $ 19.51 per share reduced by the termination fee of approximately $ 62.2 million or $ 0.63 per share if Monmouth previously entered into the Merger Agreement with Equity Commonwealth (“EQC”) under its terms to accept the amended proposal quits. The increase is a result of the investment firm’s decision not to reduce the purchase price by the $ 0.18 per share of Monmouth common stock previously announced by Monmouth’s board of directors on July 1, 2021, and to be released on or about December 15, 2021 . September 2021 was payable. On July 16, 2021, Monmouth common stock closed at $ 19.23 per share.

As previously announced, Monmouth entered into a definitive merger agreement with EQC on May 4, 2021, under which EQC has agreed to acquire Monmouth in an approximately $ 3.4 billion equity transaction, including the assumption of debt. The combined company is expected to have a pro forma stock market capitalization of approximately $ 5.5 billion.

In accordance with its legal obligations and in consultation with its financial and legal advisers, the Monmouth Board of Directors is now reviewing the amended proposal and has not made a decision as to what action to take in response to the proposal. The Board of Directors of the Company intends to respond to the proposal in due course and will continue 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 an investment grade rating. 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 may identify forward-looking statements using forward-looking terminology such as “may,” “will,” “should,” “expect,” “intend,” “plan,” “expect,” “believe”, “estimate”, ” “Forecasts”, “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 constitute 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 and is not intended to be a substitute for such 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 PARTIES. Investors and securityholders can obtain free copies of the proxy statement / prospectus and other documents Monmouth has filed with the SEC through the SEC’s website at 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 the Monmouth website at


Investors Becky Coleridge (732) 577-9996

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

Copyright 2021 GlobeNewswire, Inc.

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Real Estate News

Celebrating 40 years in Taos Real Estate | Success Stories



Louise Rose is just as individualistic in her attitude as she is as an independent Taos broker. This combination has ensured that it successfully brings clients together with the home, land or investment of their dreams.

Before Louise moved here, she was a stockbroker with a NYSE firm. She raised her sons Justin Bailey and Andrew Morrison, who graduated from the eclectic and distinguished Taos High School. “Children who grow up here are well prepared to live anywhere in the world.”

Louise is blessed with loyal clients who appreciate her upbeat approach, ability to listen, and insane sense of humor.

“Finding someone for the perfect home or ranch is the most personal transaction they can have,” said Louise. “It’s worth finding exactly what you’re hoping for. To get to know a customer, you have to listen carefully. Especially if you come from outside the city, it is important to understand exactly what attracted you to our unique and fascinating heart and soul of the Southwest. “

It’s an intuitive process that takes countless hours with people of many languages, cultures, and ethnicities. Often times the first home she shows them is the one they choose.

“Show them what they want; not what other customers desperately want or need to sell unless it’s the perfect thing. That saves everyone a lot of wear and tear. “

Louise has lived in Taos since 1973 and has seen many changes. She believes that no matter how many people move here, the spirit and essence of Taos never change.

In 1982 she carried out the first “Realtor Tours” together with another broker. Within two years, the brokers were ready for a multiple listing service (also known as MLS). Customers finally got the benefit of knowing that the home they were buying was the best choice for them and they no longer had to go to every real estate agent in town to find out what was for sale.

In 1985 she and two other people brought the first real estate franchises to Taos. Louise sold her successful ERA Taos Realtors in 1991. Three years later, she bought the Realty World, Taos franchise and then sold it to work independently.

With the market hot today, her boutique business is in demand through word of mouth and referral.

Louise said, “I personally rarely go to a doctor or lawyer for advertising because the most experienced and talented are as busy as they can get. When I do advertising, it is to the benefit of my salespeople, so that they get the attention. ”

Her longstanding clients include the Comptons: Mike, a successful commercial high quality contractor, and Jane, the Taos optician, whose first appointment is in early October.

Louise sold the Comptons her first Ranchos home, the first they looked at; and then 20 years later she sold it for them to the first buyers who looked at it.

The new doctor, his wife, and their poodle lived in a motel and needed a place to stay immediately.

Two weeks later, the Comptons were out with their two young daughters, four horses and three dogs.

The Comptons are currently selling Taos Creek Cabins, which can be seen in the pictures with Louise on this page.

Pat Allen, another longtime Taoseño and owner of 9 to 5 Ship & Print, said, “I remember the first house Louise showed me was the one I bought. It was the easiest purchase ever. She is still my broker after 30 years.

Louise’s pink, white, and black property signs are eye-catching. Each carries a reminder, “Please don’t disturb the owner,” a thoughtful touch that embodies both the agent’s signature personal style and savvy business acumen.

Louise has enjoyed a life of world travel and adventure and, when she’s not selling real estate, is working on a book. If you are a happy new customer, she will pamper you with stories and you will instantly connect with this powerhouse of energy. They know that you made the right choice in choosing your broker.

“The last decade has been the best of my life and I’ve been happier than ever,” she said. Share your enthusiasm and let Louise Rose help you find the home that will make you happier than ever.

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Real Estate News

Tucker Carlson exposes real estate companies ‘wrecking’ America



“Gavin Newsom is turning the state of California into a swamp,” said Fox News host Tucker Carlson on Tucker Carlson Tonight.

TUCKER CARLSON: In addition to all of the other problems California has, property prices are higher there than anywhere in the country. The average home price in the state of California is now over $ 800,000, more than double the national median. In the past few years, California leaders have passed dozens of laws that they claim will fix the problem because it really is a problem. Governor Jerry Brown, the last man, signed 15 housing laws in 2017 alone. Last year, Gavin Newsom signed 18 separate housing laws. Did it work? No not at all. They didn’t work for the people who live in California. But they weren’t intended for people who wanted to buy houses. Instead, these bills had one purpose: to destroy suburban houses and replace them with high-density apartments. Of course, real estate developers make more money when single-family houses are leveled and replaced by multi-family houses. And real estate developers happen to be the main donors to the California Democratic Party, and Gavin Newsom in particular.

Real estate development company Marcus was one of Newsom’s largest funders in the recent recall election. This week, after surviving the recall, Gavin Newsom tragically rewarded these real estate developers with the largest housing bill ever. Newsom has just signed a series of laws, SB9 and SB10, that will abolish the suburbs in the state of California. The state that invented the suburbs. These bills were approved by the California Building Industry Association, which, citing, “represents the interests of home builders and developers of residential and commercial projects. There will be some new commercial projects in the California suburbs.” As the New York Times put it, you quote, “SB9 essentially ends the single-family zone zones.” Property owners now have state approval to convert any single family home in the state of California into a 4 unit apartment complex. How does this improve someone’s life? It will not. It means demolishing houses to build rental units.

At the behest of his donors, Gavin Newsom is turning the state of California into a swamp. It’s not just happening in California, Oregon recently passed a nationwide ban on single-family home zoning. That’s crazy! Cities like Minneapolis and Sacramento have started allowing apartment buildings on single-family lots. Crowding problem anyone thinks? By the way, only the Chinese government seems to be doing everything possible to rule the real estate developers. “Housing should live and not for speculation,” said the Chinese president. Woo, I hate to quote the President of China but in this case he’s right, one of the largest and most indebted real estate companies in the world is collapsing and China has signaled that it will never be interested in a bailout again. In this country, real estate companies not only get bailouts, they can also write laws that destroy your neighborhood. And in many parts of America, they can tear down the neighboring house and turn it into a residential complex. Big!

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Real Estate News

Crow Holdings Announces Closing of Ninth U.S. Diversified Value-Add Real Estate Fund with Approximately $2.6 Billion of Investable Capital



DALLAS – (BUSINESS WIRE) – Crow Holdings, a leading national real estate investment and development firm, today announced the definitive closing of Crow Holdings Realty Partners IX, LP (“Fund IX” or the “Fund”). Managed by Crow Holdings Capital, Crow Holdings’ investment management company, the fund invests in value-adding real estate investments in the United States, primarily in industrial and multi-family homes and specialty sector opportunities.

Fund IX was oversubscribed with approximately $ 2.3 billion in commitments, above its original ceiling of $ 2.0 billion, and received strong support from existing investors and significant participation from new investors, including global banks and Insurance companies, pension plans, family offices and high net worth individuals. The fund has also co-invested a total of $ 265 million in equity, resulting in total investable equity of approximately $ 2.6 billion for the strategy. Fund IX marks the company’s largest fundraiser to date and is a significant increase over the $ 1.3 billion pledges raised for the previous fund.

The fund focuses on diversified value-add investment and development opportunities in multiple property types in major US markets. Today these possibilities exist mainly in industrial and multi-family houses as well as in special sectors such as prefabricated houses, comfort and gas, self-storage and student dormitories. The fund was fully launched during the Covid-19 pandemic and began investing during this challenging time as well. To date, more than 63% of the fund’s capital has been invested in 62 investments, primarily in the high-growth regions of the Southwest, Southeast and Mountains of the United States

“We appreciate the trust our investment partners have in the continued ability of our team to deliver results to them,” said Michael Levy, CEO of Crow Holdings. “This successful degree shows recognition for our company’s long-standing track record, real estate expertise and, in particular, for our early recognition of the considerable tailwind behind the demand for logistics and e-commerce, the changing population demographics and changing housing preferences as an integral part of our differentiated investment strategy . ”

“With more than 63% of the capital employed in Fund IX, we are already achieving strong investment results, including the repatriation of capital at the beginning of the fund’s life cycle through rapid realizations. This achievement is recognition of the team who have worked hard during this unprecedented and challenging time to continue fulfilling our commitment to all partners, ”said Bob McClain, CEO of Crow Holdings Capital. “We believe that our pipeline – particularly in the industrial, multi-family and specialty sectors – will continue to offer attractive opportunities to grow results throughout the life of the fund.”

Hodes Weill Securities, LLC acted as placement agent for Fund IX.

About Crow Holdings

Crow Holdings is a leading national real estate investment and development company with 70 years of operations and $ 21 billion in assets under management. With a strong track record across property types and market cycles, Crow Holdings pursues unique investment opportunities through a range of strategies and risk-return profiles, creating value for its investors, partners and communities. Operating out of 17 offices in the United States, Crow Holdings has extensive industry reach with expertise in multi-family, industrial, office and specialty sectors and has developed or acquired more than 225 million square feet. Our core principles of partnership, collaboration and reconciliation of interests remain central to Crow Holdings today. More information is available at

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