Stroock Counsels Board of Directors of Monmouth Capital in $90.2 million Transaction
Monmouth Real Estate Investment Corporation (NASDAQ: MNRTA) and Monmouth Capital Corporation (NASDAQ: MONM), announced March 26th that they have entered into a definitive agreement to complete a strategic combination of the two companies. The transaction is valued at $90.2 million. After the transaction is consummated, the combined company will operate under the name Monmouth Real Estate Investment Corporation and will continue as an equity real estate investment trust, owning interests in 55 industrial properties on long-term net-leases to investment grade tenants, as well as investments in REIT securities. Stroock & Stroock & Lavan LLP is serving as legal counsel to the Board of Directors of Monmouth Capital.