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Equity Commonwealth to Buy Industrial REIT Monmouth for $3.4B

“The transaction provides Equity Commonwealth with a high-quality, net-leased industrial business with stable cash flows, says Chairman Sam Zell.

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Equity Commonwealth is acquiring Monmouth Real Estate Investment in an all-stock transaction for approximately $3.4 billion, including the assumption of debt. The combined company is expected to have a pro forma equity market capitalization of approximately $5.5 billion.

Under the terms of the agreement, Monmouth shareholders will receive 0.67 shares of Equity Commonwealth stock for every share of Monmouth stock they own. Based on the closing price for Equity Commonwealth on May 4, 2021, this represents approximately $19.40 per Monmouth share. 

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Erika Morphy

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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