Hunton Andrews Kurth Advises Industrial Logistics Properties Trust in $4 Billion Acquisition of Monmouth Real Estate Investment Corp.

Hunton Andrews Kurth LLP advised Industrial Logistics Properties Trust in its $4 billion acquisition of Monmouth Real Estate Investment Corporation, a deal that adds 126 industrial properties to ILPT’s portfolio, expanding the company’s geographic reach and tenant base.

In a transaction that closed Feb. 25, ILPT paid $21 per share to acquire all outstanding Monmouth shares in the all-cash deal, which includes the assumption of approximately $323 million in debt. Based in Newton, Massachusetts, ILPT is a REIT focused on owning and leasing distribution and logistics properties that serve the growing needs of e-commerce. 

The Hunton Andrews Kurth team advising ILPT was led by the firm’s global real estate practice co-chair Laurie A. Grasso and M&A practice co-head Steven M. Haas. The team also included Christopher J. Adan, Christina C. Frick, Charles L. Brewer, Demitrianna Grekos, Edward J. Fuhr, J.C. Chenault, Ryan A. Glasgow, Tyler S. Laughinghouse, Gregory R. Wall, Johnathon Schronce and Gil O. Acevedo.

Hunton Andrews Kurth has extensive experience advising on significant REIT M&A deals, including representation of Pebblebrook Hotel Trust in its $5.1 billion takeover of LaSalle Hotel Properties, Service Properties Trust in its $2.4 billion acquisition of Spirit MTA REIT’s property portfolio, and Capstead Mortgage Corp. in its $1 billion merger with Benefit Street Partners Realty Trust, Inc.