FREEHOLD, N.J., May 29, 2012 /PRNewswire/ -- Monmouth Real Estate Investment Corporation (NYSE: MNR) (the "Company"), a real estate investment trust (REIT) specializing in net-leased industrial properties, today announced the commencement of a public offering of 2,000,000 shares of its Series B Cumulative Redeemable Preferred Stock (the "Series B Preferred Shares"). In connection with the offering, the Company has granted the underwriters an option for 30 days to purchase additional shares to cover overallotments, if any. The Company intends to apply to list the Series B Preferred Shares on the NYSE under the symbol "MNR-PRB".
The Company expects to use the net proceeds from this offering to purchase properties in the ordinary course of its business and for general corporate purposes.
BMO Capital Markets Corp. is the sole book-running manager for the offering. Wunderlich Securities, Inc., and BB&T Capital Markets, a division of Scott & Stringfellow, LLC, are co-lead managers for the offering. CSCA Capital Advisors, LLC, Crowell, Weedon and Co. and J.J.B Hilliard, W.L. Lyons, LLC are co-managers for the offering.
The offering of these securities will be made only by means of a prospectus, when available. Copies of the prospectus, when available, may be obtained by emailing email@example.com. Alternatively, copies can be obtained by contacting BMO Capital Markets Corp., Attn: Equity Syndicate Department, 3 Times Square, New York, NY 10036.This press release does not constitute an offer to sell or the solicitation of an offer to buy shares of preferred stock, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The Company, which was organized in 1968, is a publicly owned REIT that seeks to invest in net-leased industrial properties subject to long-term leases to investment grade tenants. In addition, the Company owns a portfolio of REIT securities.