Top Real Estate News for Monday, Nov. 8, 2021: A Little REIT in a Big Deal
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This Little-Known REIT Just Beat Out Two Titans On a $4 Billion Deal
Real estate titans Sam Zell and Barry Sternlicht had been fighting over industrial real estate investment trust (REIT) Monmouth Real Estate Investment (NYSE: MNR). After a protracted battle, the winning bidder turned out to be a surprising new entrant: Industrial Logistics Properties Trust (NASDAQ: ILPT). The little-known industrial REIT has agreed to buy Monmouth for $4 billion in cash, a huge deal, considering ILPT's size. Motley Fool contributor Matthew DiLallo takes a look inside ILPT's high-risk gamble in the hot industrial real estate space.
Source Fool.com
