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Page 14 - David Helfand News Today : Breaking News, Live Updates & Top Stories | Vimarsana

President Biden Announces Five Key Nominations

President Biden Announces Five Key Nominations
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Equity Commonwealth Purchases Monmouth Real Estate

Equity Commonwealth Purchases Monmouth Real Estate Equity Commonwealth and Monmouth Real Estate Investment Corporation have entered into a definitive merger agreement by which Equity Commonwealth will acquire Monmouth in an all-stock transaction, valued at approximately $3.4 billion, including the assumption of debt. The combined company is expected to have a pro forma equity market capitalization of approximately $5.5 billion. Monmouth’s portfolio is comprised of 120 properties totaling 24.5 million square feet. Equity Commonwealth and Monmouth shareholders are expected to own approximately 65% and 35%, respectively, of the pro forma company following the close of the transaction. “The transaction provides Equity Commonwealth with a high-quality, net-leased industrial business with stable cash flows while preserving EQC’s balance sheet capacity for future acquisitions,” said

Equity Commonwealth (EQC) Q1 2021 Earnings Call Transcript

Operator Greetings, and welcome to Equity Commonwealth First Quarter 2021 Earnings Conference Call. [Operator Instructions] I would now like to turn the conference over to your host, Sarah Byrnes, Senior Vice President, Investor Relations and Capital Markets. Thank you. You may begin. Sarah C. Byrnes Senior Vice President of Investor Relations and Capital Markets Thanks, Rob. Good morning, and thank you for joining us today. We will be discussing the recently announced merger between Equity Commonwealth and Monmouth Real Estate Investment Corporation. On the call today from Equity Commonwealth are Sam Zell, our Chairman; David Helfand, President and Chief Executive Officer; David Weinberg, Chief Operating Officer; and Bill Griffiths, Chief Financial Officer. Please be advised that certain matters discussed during this conference call, including relating to the pending merger, may constitute forward-looking statements within the meaning of federal securities laws.

Senior Wisdom: Chana T Fisch – Bwog

Senior Wisdom: Chana T Fisch – Bwog
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