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May 6, 2021

Stroock Spotlight

Stroock is representing Monmouth Real Estate Investment Corporation (NYSE: MNR)  in its $3.4 billion acquisition by Equity Commonwealth (NYSE: EQC). The two companies entered into a definitive merger agreement on May 4, by which Equity Commonwealth will acquire Monmouth in an all-stock transaction that includes an assumption of debt. The combined company is expected to have a pro forma equity market capitalization of approximately $5.5 billion. 

Equity Commonwealth President and Chief Executive Officer, David Helfand, and the company’s existing management team, will lead the post-merger company. Sam Zell will remain chairman of the board of trustees. 

The board of trustees of Equity Commonwealth and the board of directors of Monmouth Real Estate have each unanimously approved the transaction, which is expected to close in the second half of 2021.  

Led by Corporate Practice Group Co-Chair Jeffrey S. Lowenthal, Stroock’s team includes: Chris Doyle, James Fang, Dan Fliman, Kris Hansen, Marni Isaacson, Brian Kelly, Austin Lilling, Daniel Martinez, Marc Orlando, Marija Pecar, Patrick Petrocelli, Ida Phair, Ryan Rivera, Tess Sadler, Lauren Shandler, Albert Singer, Mitchell Snow, Jeff Uffner and Jon Ziefert.