First Real Estate Investment Trust of New Jersey (FREVS) – Odd Lot Tender Offer – $78 return

Current Price – $22.21

Offer Price – $23

Upside – 3.5% or $78 ( for odd lot holders)

Expiration date –  20 March 2015

SEC Filling



First Real Estate Investment Trust of New Jersey, an equity real estate investment trust organized under the laws of the State of New Jersey (the “Company,” “we” or “us”), invites our shareholders to tender up to 100,000 shares of beneficial interest in the Company, for purchase by us at a price of $23.00 per share, net to the seller in cash. We will purchase up to 100,000 shares in the Offer (representing approximately 1.5% of our total outstanding shares of beneficial interest as of February 16, 2015


No proration for Odd Lot holders:

If more than 100,000 shares are tendered, we will purchase all shares tendered on a pro rata basis, except for “odd lots” (lots held by beneficial or record owners of less than 100 shares), which we will purchase on a priority basis.


Source of Funds:

Assuming we purchase 100,000 shares in the Offer at Purchase Price of $23.00 per share, approximately $2.3 million will be required to purchase such shares. We expect that the maximum aggregate cost of these purchases, including all fees and expenses applicable to the offer, will be approximately $2,350,000. We intend to use cash on hand to purchase shares in the Offer and to pay all related fees and expenses.