---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-21-134692"
form_type: "8-K"
ticker: "ILPT"
cik: "0001717307"
company_name: "Industrial Logistics Properties Trust"
filed_at: "2021-11-05T23:59:59+00:00"
generated_at: "2026-06-28T12:14:20.192938+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# ILPT to acquire Monmouth REIT for $4.0B all-cash; adds 126 industrial properties

## Summary
- ILPT will acquire Monmouth (MNR) for $21.00 per share in cash, valuing the deal at ~$4.0B including debt assumption.
- Portfolio: 126 Class A single-tenant net-leased industrial properties, 26.3M sq ft, 99.7% occupied, 80% investment grade tenants.
- Weighted average remaining lease term ~8 years; transaction expected to be immediately accretive to Normalized FFO per share.
- Financing includes a joint venture with institutional investors ($430M-$1.3B equity), $4.0B bridge loan, and potential property sales up to $1.6B.
- Closing expected in first half of 2022 subject to MNR shareholder approval; post-close net debt/Adjusted EBITDAre targeted at 6-8x.

## SEC filing metadata
- accession: 0001104659-21-134692
- form_type: 8-K
- ticker: ILPT
- cik: 0001717307
- company_name: Industrial Logistics Properties Trust
- filed_at: 2021-11-05T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1717307/000110465921134692/0001104659-21-134692-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1717307/000110465921134692/tm2132072d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-21-134692
- JSON: https://secwatch.observer/filing/0001104659-21-134692.json
- Plain text: https://secwatch.observer/filing/0001104659-21-134692.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.