Monmouth Real Estate Investment Corporation (NYSE:MNR), a real estate investment trust (REIT) specializing in net-leased industrial properties, today announced that it has priced a public offering of 8,000,000 shares of its common stock (the "Common Stock") at a public offering price of $15.00 per share, before underwriting discounts. The offering is subject to customary closing conditions and is expected to close on or about October 9, 2018.

In connection with the offering, the Company has granted the underwriters an option for 30 days to purchase up to 1,200,000 additional shares of Common Stock at the public offering price, less the underwriting discount. The Company estimates that the net proceeds from this offering, after deducting underwriting discounts (before other transaction costs), will be approximately $115.2 million, or $132.5 million if the underwriters exercise in full their option to purchase additional shares.

The Company intends to use the net proceeds from this offering to purchase properties and fund expansions of existing properties in the ordinary course of its business, to repay borrowings outstanding under its unsecured revolving credit facility, and for general corporate purposes.

BMO Capital Markets, J.P. Morgan, and RBC Capital Markets are the joint book-running managers for the offering. B. Riley FBR, D.A. Davidson & Co., Janney Montgomery Scott and CSCA Capital Advisors, LLC are the co-managers for the offering.

ABOUT MONMOUTH REAL ESTATE INVESTMENT CORPORATION

Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. The Company specializes in single tenant, net-leased industrial properties, subject to long term leases, primarily to investment-grade tenants. Monmouth Real Estate Investment Corporation is a fully integrated and self-managed real estate company, whose property portfolio consists of 111 properties containing a total of approximately 21.2 million rentable square feet, geographically diversified across 30 states. In addition, the Company owns a portfolio of REIT securities.