FREEHOLD, N.J., Sept. 14, 2018 /PRNewswire/ -- On September 13, 2018, the Board of Directors of
Monmouth Real Estate Investment Corporation (NYSE: MNR) (the
"Company") increased the number of its directors from twelve to
thirteen. To fill the resulting vacancy, the Board elected
Mr. Kiernan "KC" Conway as a Class II Director, to serve for the
remaining term of Class II Directors, until the Company's 2020
annual meeting of stockholders and when his successor is duly
elected and qualifies. The Board has determined that Mr.
Conway is an independent director under the listing standards of
the New York Stock Exchange.
Mr. Conway is an expert on the U.S. economy, commercial real
estate markets, real estate finance, ports and logistics, risk
management, and valuation, among several other subjects. A
graduate of Emory University and Member
of the Appraisal Institute, he has served since 2017 as the
Director of Research and Corporate Engagement of the Alabama Center
for Real Estate and as the Chief Economist of the CCIM (Certified
Commercial Investment Member) Institute. From 2014-2017, he
served as Senior Vice President of Credit Risk Management for Sun
Trust in Atlanta, GA. From
2010-2014, he served as U.S. Chief Economist for Colliers
International in Atlanta,
GA. From 2005-2010, he served as Commercial Real Estate
Subject Matter Expert for the Federal Reserve in Atlanta, GA. Mr. Conway has addressed
more than 750 real estate industry and regulatory organizations and
conferences since the 2008 financial crisis, including the Chairman
of the Federal Reserve, as well as numerous governmental, academic
and corporate organizations. He has also published extensively in
real estate and economic journals.
Commenting on the announcement, Eugene
W. Landy, Chairman of the Board, said, "KC Conway has
extraordinary experience in commercial real estate, real estate
finance, economics and logistics. We have followed and benefited
from KC's extensive research for over a decade. With his
appointment, the Board of Directors recognizes his wide-ranging
expertise in market intelligence and valuation, as well as his
history of accurately forecasting real estate trends. I am
confident that KC will be an excellent addition to our Board for
many years to come."
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.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, Section 21E of the Securities Exchange Act of 1934, as
amended . Forward-looking statements provide the Company's current
expectations or forecasts of future events. Forward-looking
statements include statements about the Company's expectations,
beliefs, intentions, plans, objectives, goals, strategies, future
events, performance and underlying assumptions and other statements
that are not historical facts, including with regard to the
Company's securities offering or the anticipated use of proceeds.
You can identify forward-looking statements by their use of
forward-looking words, such as "may," "will," "might,"
"anticipate," "estimate," "project," "expect," "believe," "intend,"
"plan," "should," "seek" or comparable terms, or the negative use
of those words, but the absence of these words does not necessarily
mean that a statement is not forward-looking. The forward-looking
statements are based on the Company's beliefs, assumptions and
expectations of its future performance, taking into account all
information currently available to it. Forward-looking statements
are not predictions of future events. These beliefs, assumptions
and expectations can change as a result of many possible events or
factors, not all of which are known to the Company. Some of
these factors are described under the headings "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" as included in the Company's Annual Report
on Form 10-K for the fiscal year ended September 30, 2016 and its other periodic
reports filed with the Securities and Exchange Commission, which
are accessible on the Securities and Exchange Commission's website
at www.sec.gov. These factors should not be construed as
exhaustive and should be read in conjunction with other cautionary
statements that are included in the filings. These and other
risks, uncertainties and factors could cause the Company's actual
results to differ materially from those included in any
forward-looking statements it makes. Any forward-looking statement
speaks only as of the date on which it is made. New risks and
uncertainties arise over time, and it is not possible for the
Company to predict those events or how they may affect it. Except
as required by law, the Company is not obligated to, and does not
intend to, update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise. You
should not place undue reliance on these forward-looking
statements, as events described or implied in such statements may
not occur.
View original
content:http://www.prnewswire.com/news-releases/monmouth-real-estate-announces-the-election-of-kiernan-kc-conway-to-the-board-of-directors-300712787.html
SOURCE Monmouth Real Estate Investment Corporation