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July 21 (Reuters) - U.S. investment firm Starwood Capital Group on Wednesday confirmed it sweetened its buyout bid for Monmouth Real Estate Investment Corp (MNR.N) to $1.86 billion.
Starwood raised its bid for Monmouth to $18.88 per share from $18.70 apiece.
Monmouth said last week it had received an unsolicited acquisition proposal from "a large private investment firm".
Starwood said the total offer can increase to as much as $19.51 per share in case Monmouth does not pay a break-up fee of $62.2 million to Equity Commonwealth (EQC.N) or pays a lower fee. Equity Commonwealth had planned to acquire Monmouth for $1.91 billion in stock.
Monmouth, whose shares are up 2.1% in premarket trade, could not be immediately reached for a comment.
(Corrects paragraph 4 to say "total offer can increase to as much as $19.51 per share" and clarifies break-up fee condition)