Baltimore, MD (September 14, 2016) – Venable LLP announced today that it represented Monmouth Real Estate Investment Corporation, a real estate investment trust, in a $135 million underwritten public offering of preferred stock. Under terms of the offering, Monmouth issued 5.4 million shares of its 6.125% Series C Cumulative Redeemable Preferred Stock on the New York Stock Exchange under the symbol "MNRprC."
Partners Carmen M. Fonda and Michael A. Leber led Venable's Corporate and Securities team advising Monmouth, which included Damien G. Scott, Gabriel M. Steele, Mario A. Richards, and Amanda C. E. Knab. Partner Brian J. O'Connor and Christopher S. Davidson also provided assistance with tax matters.
Venable has extensive experience advising issuers, underwriters, and other market participants in a variety of public offerings of common stock, preferred stock, and debt. The Corporate and Securities Group frequently provides comprehensive advice with regard to compliance with applicable securities laws and disclosure issues, filing and reporting requirements, and the many related corporate governance issues applicable to capital markets transactions.
Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the United States. The company specializes in single-tenant, net-leased industrial properties, subject to long-term leases, primarily to investment-grade tenants. Monmouth Real Estate Investment Corporation is a fully integrated and self-managed real estate company, whose property portfolio consists of 99 properties located in 30 states, containing approximately 16 million rentable square feet. In addition, the company owns a portfolio of REIT securities.
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