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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