Monmouth Real Estate Investment Corporation Announces Pricing Of Common Stock Offering

Monmouth Real Estate Investment Corporation Announces Pricing Of Common Stock
                                   Offering

PR Newswire

FREEHOLD, N.J., May 21, 2014

FREEHOLD, N.J., May 21, 2014 /PRNewswire/ -- Monmouth Real Estate Investment
Corporation (NYSE:MNR) (the "Company"), a real estate investment trust (REIT)
specializing in net-leased industrial properties, today announced that it has
priced a public offering of 7,000,000 shares of its common stock (the "Common
Stock") at a public offering price of $8.50 per share, before underwriting
discounts. The offering is subject to customary closing conditions and is
expected to close on or about May 28, 2014.

In connection with the offering, the Company has granted the underwriters an
option for 30 days to purchase up to 1,050,000 additional shares of Common
Stock at the public offering price, less the underwriting discount. The
Company estimates that the net proceeds from this offering, after deducting
underwriting discounts (before other transaction costs), will be approximately
$56.8 million, or $65.3 million if the underwriters exercise in full their
option to purchase additional shares.

The Company intends to use the net proceeds from this offering to repay
borrowings outstanding under its unsecured revolving credit facility, to
purchase properties and fund expansions of existing properties in the ordinary
course of its business and for general corporate purposes.

BMO Capital Markets Corp. and J.P. Morgan are the joint book-running managers
for the offering. Wunderlich Securities, D.A. Davidson & Co. and CSCA are
co-managers for the offering.

The offering will be made pursuant to the Company's currently effective shelf
registration statement filed with the Securities and Exchange Commission.

The offering of these securities will be made only by means of a prospectus
and a related prospectus supplement, copies of which may be obtained, when
available, by contacting BMO Capital Markets Corp. at 3 Times Square, New
York, NY 10036, Attention: Equity Syndicate Department, emailing
bmoprospectus@bmo.com, or calling 1-800-414-3627; or J.P. Morgan Securities
LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
New York 11717 or calling 1-866-803-9204.

This press release does not constitute an offer to sell or the solicitation of
an offer to buy, 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.

ABOUT MONMOUTH REAL ESTATE INVESTMENT CORPORATION

Monmouth Real Estate Investment Corporation, founded in 1968 and one of the
oldest public equity REITs in the U.S., specializes in net-leased industrial
properties subject to long-term leases primarily to investment grade tenants.
The Company is a fully integrated and self-managed real estate company, whose
property portfolio consists of eighty-one properties located in twenty-seven
states, containing a total of approximately 10.7 million rentable square
feet. In addition, the Company owns a portfolio of REIT securities.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, Section 21E of the
Securities Exchange Act of 1934, as amended, and the Private Securities
Litigation Reform Act of 1995. Forward-looking statements provide the
Company's current expectations or forecasts of future events. Forward-looking
statements include statements about the Company's expectations, beliefs,
intentions, plans, objectives, goals, strategies, future events, performance
and underlying assumptions and other statements that are not historical facts,
including with regard to the Company's securities offering or the anticipated
use of proceeds. You can identify forward-looking statements by their use of
forward-looking words, such as "may," "will," "anticipate," "expect,"
"believe," "intend," "plan," "should," "seek" or comparable terms, or the
negative use of those words, but the absence of these words does not
necessarily mean that a statement is not forward-looking. The forward-looking
statements are based on the Company's beliefs, assumptions and expectations of
its future performance, taking into account all information currently
available to it. Forward-looking statements are not predictions of future
events. These beliefs, assumptions and expectations can change as a result of
many possible events or factors, not all of which are known to the Company.
Some of these factors are described under the headings "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and Results of
Operations" as included in the Company's Annual Report on Form 10-K for the
fiscal year ended September 30, 2013 and its other periodic reports filed with
the Securities and Exchange Commission, which are accessible on the Securities
and Exchange Commission's website at www.sec.gov. These factors should not be
construed as exhaustive and should be read in conjunction with other
cautionary statements that are included in the filings. These and other risks,
uncertainties and factors could cause the Company's actual results to differ
materially from those included in any forward-looking statements it makes. Any
forward-looking statement speaks only as of the date on which it is made. New
risks and uncertainties arise over time, and it is not possible for the
Company to predict those events or how they may affect it. Except as required
by law, the Company is not obligated to, and does not intend to, update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise. You should not place undue reliance on these
forward-looking statements, as events described or implied in such statements
may not occur.

SOURCE Monmouth Real Estate Investment Corporation

Website: http://mreic.com
Contact: Susan M. Jordan, 732-577-9996
 
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