Industrial Logistics Properties Trust Acquires Monmouth Real Estate Investment Corporation

February 28, 2022

Industrial Logistics Properties Trust (ILPT) completed its acquisition of Monmouth Real Estate Investment Corporation (MNR) for $21.00 per share in an all-cash transaction valued at approximately $4.0 billion, including assumed debt and transaction costs. ILPT also formed a joint venture with an unnamed institutional investor to hold 95 of the acquired MNR properties (ILPT retained a 61% interest), expanding ILPT’s scale, e‑commerce logistics exposure, tenant diversity and geographic footprint.

Buyers
Industrial Logistics Properties Trust
Targets
Monmouth Real Estate Investment Corporation
Sellers
Monmouth Real Estate Investment Corporation shareholders
Industry
Real Estate
Location
New Jersey, United States
Transaction Type
Buyout

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