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Blackwells Makes Unsolicited Offer for Monmouth REIT

Blackwells Makes Unsolicited Offer for Monmouth REIT Bloomberg 12/21/2020 Scott Deveau and Kiel Porter © Bloomberg The Estates at Kelley Farms new housing development in Ballston Lake, New York, U.S., on Friday, Dec. 11, 2020. The U.S. Census Bureau is scheduled to release housing starts figures on December 17. (Bloomberg) Blackwells Capital has made an unsolicited proposal to acquire the portion of Monmouth Real Estate Investment Corp. that it doesn’t already own in a transaction valued at about $3.8 billion, including debt. The all-cash offer at $18 a share was made Friday, and is the second time Blackwells has proposed acquiring the remaining interest in the industrial real estate investment trust, according to a statement Monday that confirmed an earlier Bloomberg News report.

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