Real Estate Titans Sam Zell, Barry Sternlicht Battling for This Industrial REIT
The saga for control of industrial REIT (real estate investment trust) Monmouth Real Estate Investment (NYSE: MNR) has taken an interesting turn. The company had agreed to a merger with Equity Commonwealth (NYSE: EQR), an office REIT controlled by Sam Zell, in a $3.4 billion all-stock deal. The all-cash proposal could derail Zell's plans to get into the fast-growing industrial real estate sector.