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FREIT BOARD OF DIRECTORS APPROVES PLAN OF VOLUNTARY LIQUIDATION TO MAXIMIZE VALUE FOR STOCKHOLDERS
First Real Estate Investment Trust of New Jersey, Inc. ("FREIT" or the "Trust") announced today that its Board of Directors (the "Board") has unanimously approved a plan of voluntary liquidation, which provides for the voluntary liquidation and dissolution of the Trust by the sale, conveyance, transfer or disposition of all of the Trust's assets (the "Plan"). FREIT intends to file a preliminary proxy statement with the Securities and Exchange Commission ("SEC") describing the Plan. The Plan is s
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[{"type":"text","content":"Current Estimate of Distributions to Stockholders is Approximately $24.44 to $30.03 Per Share; Representing Significant Premium to Latest Closing Stock Price","length":157,"tagName":"p","attribs":{}},{"type":"text","content":"HACKENSACK, N.J., May 14, 2026 /PRNewswire/ -- First Real Estate Investment Trust of New Jersey, Inc. ("FREIT" or the "Trust") announced today that its Board of Directors (the "Board") has unanimously approved a plan of voluntary liquidation, which provides for the voluntary liquidation and dissolution of the Trust by the sale, conveyance, transfer or disposition of all of the Trust's assets (the "Plan"). FREIT intends to file a preliminary proxy statement with the Securities and Exchange Commission ("SEC") describing the Plan. The Plan is subject to the approval of the Trust's stockholders, and the Trust plans to convene a meeting of its stockholders in the Fall of 2026 to approve the Plan.","length":758,"tagName":"p"},{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":307,"url":"https://media.zenfs.com/en/prnewswire.com/c2e07feae4a394118886891e85041560"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/RssM9wGSXMTDGGsTlSPJWg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTU0MQ--/https://media.zenfs.com/en/prnewswire.com/c2e07feae4a394118886891e85041560","width":400,"height":307},"resize_sm":{"url":"https://s.yimg.com/ny/api/res/1.2/ZjOXuo.q82C8CL2kISJziA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTQ5MQ--/https://media.zenfs.com/en/prnewswire.com/c2e07feae4a394118886891e85041560","width":400,"height":307}},"href":"https://mma.prnewswire.com/media/2980615/FREIT_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":""After a diligent exploration of various strategic alternatives, the Board determined that the voluntary and orderly liquidation of the Trust's assets is the most attractive path to maximizing stockholder value," said Ronald Artinian, Chairman of the Board. "The Board and its advisors are focused on maximizing the value of our assets and we look forward to sharing additional details with stockholders."","length":429,"tagName":"p"},{"type":"text","content":"The Trust intends to return net proceeds from the sale ...
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