Starwood Asks Monmouth Investors to Reject Deal With Zell

Starwood Capital Group plans to solicit votes against Monmouth Real Estate Investment Corp.’s deal to sell itself to Sam Zell’s Equity Commonwealth, ratcheting up the fight for the industrial property company.

Starwood, led by Barry Sternlicht, argued its competing proposal to acquire the company provides Monmouth shareholders with greater value and certainty than the Equity Commonwealth deal, according to a filing late Tuesday.