Industrial Logistics completed the acquisition of Monmouth for $4bn.

Industrial Logistics Properties Trust, a real estate investment trust, completed the acquisition of Monmouth, a publicly traded REIT, for $4bn. "The successful completion of the MNR acquisition creates a stronger ILPT with enhanced scale, additional high quality e-commerce focused mainland properties and increased tenant and geographic diversity. This accretive transaction is complementary to our existing portfolio and increases ILPT’s exposure to key markets that offer attractive long-term investment prospects. It also further demonstrates our strong and growing relationships with private capital investors, providing ILPT with access to efficient capital to support future growth. We have already completed significant steps in our integration plan and are well positioned to continue capitalizing on the ongoing strong fundamental tailwinds in the industrial sector," John Murray, ILPT CEO. On February 17, 2022, Monmouth shareholders voted to approve the acquisition of Monmouth by Industrial Logistics Properties Trust.