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Article: Monmouth Real Estate Investment Corporation Places 1,257,253 Shares With Palisade Concentrated Equity Partnership, L.P. for $8,324,901.
- Article from:
- PR Newswire
- Article date:
- February 27, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Monmouth Real Estate Investment Corporation today announced the private placement of 1,257,253 shares with Palisade Concentrated Equity Partnership, L.P. for consideration of $8,324,901 or $6.6215 a share. The proceeds of the private placement will be used for working capital and will initially be used to pay down the Company's outstanding credit facility.
Eugene W. Landy, President, stated that, "MNRTA is very pleased to have an institutional shareholder of the caliber of Palisade Concentrated Equity Partnership, L.P. MNRTA is now approaching the $100 million market capitalization milestone. When MNRTA reaches that milestone, management believes that MNRTA ...