Starwood makes an offer to Monmouth Real Estate Investment Corp.

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Stephen Nakrosis

On Wednesday, Starwood Real Estate Income Trust Inc. announced that it is increasing its offer to acquire Monmouth Real Estate Investment Corp. up to net cash consideration of $ 19.20 per share.

Starwood said the new offering was priced at $ 19.93 per Monmouth share, minus the termination fee due to Commonwealth Equity of 73 cents per share.

On Monday, Monmouth and Equity said they agreed to an amendment to the merger agreement whereby Equity would pay $ 19 per Monmouth share in cash and stock.

Monmouth shares ended the day trading 0.59% higher to close at $ 18.91 a share. The stock was slightly higher after the close, adding 1% at 5:13 pm to $ 19.10 a share.

Starwood Real Estate Income Trust has announced that it is an affiliate of Starwood Capital Group.

-Email Steven Nakrosis at stephen.nakrosis@wsj.com

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