Sam Zell acquires Monmouth Real Estate for $3.4B

As the industrial real estate sector booms, Sam Zell’s Equity Commonwealth is expanding into the field. The billionaire’s company, which focuses on office real estate, is acquiring the big industrial firm Monmouth Real Estate Investment in a $3.4 billion, all-stock deal, according to Crain’s Chicago Business. Based in Holmdel, New Jersey, Monmouth owns 120 properties totaling 24.5 million square feet. “The transaction provides Equity Commonwealth with a high-quality, net-leased industrial business with stable cash flows