Industrial Logistics Properties Trust Plans to Buy Monmouth Real Estate in $4 Billion Deal

Industrial Logistics Properties Trust (Nasdaq: ILPT) said Nov.5 it has agreed to purchase Monmouth Real Estate Investment Corp. (NYSE: MNR) in an all-cash transaction valued at approximately $4 billion, including debt. The transaction is expected to close in the first half of 2022.

Earlier this year, Equity Commonwealth (NYSE: EQC) said it would acquire Monmouth in an all-stock transaction valued at $3.4 billion, including debt. That offer was subsequently rejected by shareholders. Monmouth also received an unsolicited proposal from Starwood Capital Group. In September, Monmouth announced that it “heard loudly and clearly the voices of our stockholders” and would re-initiate exploring strategic alternatives.