February 17, 2022 -- Monmouth Real Estate Investment Corporation (NYSE: MNR), or Monmouth, today announced that its shareholders voted to approve the acquisition of Monmouth by Industrial Logistics Properties Trust, a Maryland real estate investment trust (“ILPT”) Under the terms of the previously announced transaction, upon completion of the merger, which is expected to occur before the end of the month subject to customary closing conditions, holders of Monmouth’s 125% Series C Cumulative Redeemable Preferred Stock will receive $25.00 per share in cash plus accumulated and unpaid dividends to, but not including, the date the transaction is completed. At such time, Monmouth’s common stock and 6.125% Series C Cumulative Redeemable Preferred Stock will no longer be listed on the New York Stock Exchange.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Monmouth Real Estate Investment, 6.125% Series C Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 9/15/2021 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 6.125% per annum ($1.53125 per annum or $0.3828125 per quarter) will be paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date fixed by the board, not more than 30 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). Upon the occurrence of a change of control or a delisting event the company will have the option within 120 days (90 days for delisting) to redeem the preferred shares at $25 per share plus accrued and unpaid dividends. If the company has exercised their redemption right, the holders will not have the following conversion right. Upon the occurrence of a change of control or delisting event, and the company has not provided notice that they intend to redeem the preferred shares, the holder will have the right to convert the preferred shares into common shares under certain circumstances (see the prospectus for details). Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Distribution Dates	15% Tax Rate
NYSE Chart	6.13% $1.53	$25.00 $25.00	Called for 2/17/2022 None	NF NF 3/01/2022	3/15, 6/15, 9/15 & 12/15 Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

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HOME PAGE:     http://www.mreic.reit/
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Company's Email Address Links

Inv Rel Email Address	bcoleridge@mreic.com
General Email Address	mreic@mreic.com
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Address and Phone Numbers

Address:   Juniper Business Plaza, 3499 Route 9 North, Suite 3-C, Freehold, NJ 07728
Main Phone Number	732-577-9996
Fax Number	732-577-9981
Investor Relations   Becky G. Coleridge	732-810-0907
Toll Free Phone Number	Unknown

CEO - Michael P. Landy

CFO - Kevin S. Miller