Equity Commonwealth Acquires Monmouth Real Estate In $2.7B Deal

Equity Commonwealth, led by Sam Zell, has acquired Monmouth Real Estate in a deal valued at approximately $2.7 billion. The acquisition offer from Equity Commonwealth was chosen over a competing offer from Starwood Capital, represented by Barry Sternlicht. The transaction is an all-stock deal, with Equity Commonwealth expected to hold around 65% of the newly formed company. This acquisition adds approximately 120 industrial properties to Sam Zell's existing portfolio.

Summary of transaction details

• Buyer: Equity Commonwealth - Sam Zell
• Seller: Monmouth Real Estate - Mike Landy
• Valuation: $2,700,000,000

Sam Zell, representing Equity Commonwealth, successfully secured the acquisition of Monmouth Real Estate. This strategic deal adds significant value to Zell's portfolio, expanding his industrial property holdings by incorporating the 120 properties from Monmouth Real Estate. Barry Sternlicht, representing Starwood Capital, was unable to secure the acquisition due to the competing offer from Equity Commonwealth.