The combined firm will operate under the name Monmouth RealEstate Investment Corp. and will continue as an equity REIT. Thecompany, which currently owns interests in 56 industrial propertieson long-term net-leases to investment-grade tenants and oneshopping center, plus investments in REIT securities, will continueto be managed by the team that managed both Monmouth REIT andMonmouth Capital before the combination.
In connection with the merger, the number of directors servingon Monmouth REIT's board of directors was increased to 13. Anna T.Chew, Eugene D. Rothenberg, Joshua Kahr and Michael P. Landy, eacha former director of Monmouth Capital, were appointed as directorsof Monmouth REIT to fill the additional spots.
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