It was announced today that MNR (Monmouth Industrial REIT) will be acquired by ILPT at a $4bn valuation. Link here
We, as one minority investor, while commending the management team of seeking maximizing shareholder’s return in MNR, disagree with the sale price. We strongly believe that such a high quality industrial portfolio with long term credit tenants like Fedex should be valued at a much higher level.
We urge our fellow shareholders to vote against this transaction and suggest management to continue the path of strategic review to find the buyer at the right price, or focusing on creating value of existing portfolio and with such strong tailwind behind high quality industrial assets, we will see a much higher valuation some years from today