FREIT receives unsolicited nonbinding acquisition interest from Kushner's K Corp

FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.

Board received letter from K Corp Acquisitions LLC on June 27, 2023 expressing nonbinding interest in acquiring FREIT.
K Corp is a Kushner company; letter released publicly same day.
Litigation between FREIT and affiliates vs Sinatra LLC (Kushner company) pending in NJ Appellate Division.
Board will evaluate the letter consistent with fiduciary duties; no stockholder action required now.

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