Ultimately, what we want to do is do away with these third-party tender offer firms that are really taking advantage and providing unfair values, says Stephan. Access global real estate's most influential events and network. This communication does not constitute an offer to sell or the solicitation of an offer to buy or sell any securities or a solicitation of a proxy or of any vote or approval. CIM Real Estate Finance Trust was launched in January 2012, raising more than $3 billion in investor capital prior to its offering closing in April 2014. AAII can help you figure these out and identify which investments align with what works best for you. This gathering of the Broker Dealer and Sponsor communities provided insightful and open discussion from several vantage points. For immediate release. Equity Sales Company, CIM Real Estate Finance Trust, Inc. Completes Merger with Two CIM Net Lease REITs, Alts Week 2022 Presentations & Panel Discussions, Capital Square Reports Record Year: $2.29 Billion in Acquisitions and More Than $1 Billion in Equity Raised in 2022, Bluerock Capital Markets Logs a Record $4+ Billion in Annual Capital Raise in 2022, Up 92% Over 2021s Record Inflows, StratCap Acquires Nearly $20 Million in Digital Infrastructure Assets in December, Phoenix American Announces New Client, Cannabis Fund Sponsor AC Capital Partners, for Fund Administration, Understanding the Terms of the Blackstone REIT Share Repurchase Plan. This information should not be relied upon or construed as legal advice. In addition to Growth, A+ Investor also provides grades for Value, Momentum, Estimate Revisions and Quality. CIM, formerly known as Cole Credit Property Trust IV, was launched in January 2012, raising approximately $3 billion in investor capital prior to closing its offering in April 2014. CC CMFTs top five tenant concentration decreases from 22% at both CMFT and INAV to 19%, with no single tenant concentration above 5%. display: none !important; In the real estate investing world, there's a crowded arms race to become the go-to "fractional" investing platform where you can buy $100 shares in $1 million homes. } You should not act or elect to act based upon this information without seeking professional counsel regarding your situation. border-top: 2px solid #163a64; According to a filing with the SEC, Comrit Investments 1 LP, a Tel Aviv-based investment fund, is reportedly extending an unsolicited tender offer to purchase up to 22.4 million shares of CIM Real Estate Finance Trust Inc., for $4.61 per share. The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. }, Home > News Article > CIM Real Estate Finance Trust, Inc. Completes Merger with Two CIM Net Lease REITs. Often, surprises beget further surprises‐or at least continued sales growth (the exact opposite is generally true, too). The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. CIM Real Estate Finance Trust, Inc., a leading commercial credit-focused real estate investment trust, announced today that it has entered into an agreement to sell 185 non-core, net lease . The merger transactions could also better position it for a future liquidity event, including a public listing. CMFT, CCIT III and CCPT V are non-traded REITs managed by affiliates of CIM Group, LLC (CIM). e.thumbhide = e.thumbhide===undefined ? The transactions were subject to the approval of the respective mergers and certain other matters by stockholders of CCIT III and CCPT V. Both CCIT III and CCPT V stockholders voted in favor of the respective mergers during virtual special meetings of stockholders held on December 17, 2020. Companies similar to Cim Real Estate Finance Trust Inc in the REITs - Commercial industry. In addition, the real estate portfolio had 559 properties totaling approximately 25.8 million square feet, with an occupancy rate of approximately 96 percent and a weighted average lease term of approximately 8.8 years. Generally, we think the model, or, more specifically, the discounts MacKenzie tends to offer while leveraging the third-party tender offer model, are predatory, agrees John Cox, founder and CEO of Cox Capital Partners, an investment management firm specializing in alternative asset management strategies and secondary market liquidity solutions. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. To begin, as a non-traded REIT, an investment in CIM Real Estate Finance Trust is very illiquid. window.RSIW : pw; background: url(https://bluevaultpartners.com/wp-content/themes/bvp/images/headers/circle.png) no-repeat scroll top; Estate Planning 101 . Duff & Phelps LLC, a third-party valuation firm, assisted with the process and estimated a $7.05 to $7.61 per share valuation range with a midpoint of $7.31 per share as of June 30, 2020. CMFT and INAV have made a presentation available detailing the highlights of the proposed transaction atwww.cimgroup.com/announcements. .ewd-ufaq-post-margin-symbol span{ CIM Real Estate Finance Trust Inc. on Dec. 21 finalized its stock-for-stock mergers with Cole Office & Industrial REIT (CCIT III) Inc., or CCIT III, and Cole Credit Property Trust V Inc., or CCPT V. All three nontraded real estate investment trusts are managed by CIM Group LLC affiliates. } PERE Global Passport membership allows decision-makers to . width: 70px; Cim Real Estate Finance Trust Inc does not currently pay a dividend. PHOENIX, December 30, 2022--CIM Real Estate Finance Trust, Inc. agrees to sell 185 non-core, net lease properties to Realty Income Corporation (NYSE: O) for $894 M This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. gtag('config', 'G-7K1TNEL3NK'); CIM Real Estate Finance Trust, Inc. html:not( .jetpack-lazy-images-js-enabled ):not( .js ) .jetpack-lazy-image { }; #menu-item-1271 { CIM Real Estate Finance Trust is expected to realize approximately $3.5 million in annual savings as a result of operational efficiencies from the proposed mergers, the company said. . According to Robert A. Stanger & Co., the real estate alts sector has raised $69.3 billion yeartodate through Julya 95% increase over the same period of 2021. About CIM Real Estate Finance Trust, Inc. CMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. Review the table below to see how Cim Real Estate Finance Trust Inc stock stands up against its competitors. Actual results may vary materially from those expressed or implied by the forward-looking statements, which are subject to a number of risks and uncertainties, many of which are out of the control of such companies, including, but not limited to, those associated with the risk that the proposed merger will not be consummated within the expected time period or at all; the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement; the failure to satisfy the conditions to the consummation of the proposed merger, including the approval of the stockholders of INAV; the ability of CC CMFT to achieve the expected cost synergies or to engage in any liquidity event or public offering; the disruption of managements attention from ongoing business operations due to the proposed merger; the availability of suitable investment or disposition opportunities; the impact of the COVID-19 pandemic on the operations and financial condition of each of CMFT and INAV and the real estate industries in which they operate, including with respect to occupancy rates, rent deferrals and the financial condition of their respective tenants; general financial and economic conditions, which may be affected by government responses to the COVID-19 pandemic; legislative and regulatory changes; and other factors, including those set forth in the section entitled Risk Factors in CMFTs and INAVs most recent Annual Reports on Form 10-K, as amended, and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (SEC), and other reports filed by CMFT and INAV with the SEC, copies of which are available on the SECs website,www.sec.gov. display: none; content: ""; Headquartered in Phoenix, Arizona, CIM is a publicly registered non-traded real estate investment trust (REIT) that primarily owns and operates a portfolio of commercial real estate assets and a portfolio of commercial mortgage loans. One example of a secondary marketplace that has been around for several years is Central Trade & Transfer. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. In some instances, retail investors may have been solicited to invest by their financial advisor without being fully informed of the Companys risky and complex nature. Path to Liquidity:The merger transaction is one more step in the execution of CMFTs business plan and is anticipated to better position CC CMFT for a public market listing, which, subject to market conditions, is expected to occur in 2022.2. } The Combined Companys greater size and improved portfolio diversification should provide it with greater access to debt and equity capital markets. You should not act or elect to act based upon this information without seeking professional counsel regarding your situation. Alternative options to generate liquidity may include selling shares on a limited and fragmented secondary market, or responding to a tender offer such as Comrits recent Liquidation Opportunity, options which nearly always entail disadvantageous pricing for the investor. 0 : parseInt(e.tabw); More recently, Realto launched a secondary marketplace platform. Kindly share this postIt was a night of glowing tributes for the Director General, National Information Technology Development Agency (NITDA), Kashifu Inuwa, CCIE, as Forbes Magazine recognised him as Best of Africa Outstanding Corporate Governance CEO Award, 2022. . The pro forma combined company (CC CMFT) would have approximately $6.0 billion in total enterprise value, creating a leading commercial credit-focused real estate investment trust (REIT) with greater tenant, industry, and asset type diversity, financial strength, and improved access to capital markets. For example, Cox Capital does not make unsolicited offers. For more information, visitwww.cimgroup.com. About CIM Real Estate Finance Trust, Inc. CMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. CMFT invests in senior secured loans and credit leases. AAIIs proprietary stock grades come with A+ Investor. INAV holds investments in office, industrial and retail assets. The companies in the bottom 20% of the stock universe receive Growth Grades of F, considered Very Weak, while those in the top 20% receive A grades, which are considered Very Strong. MacKenzie and its affiliates currently own 11,118 shares. Visited more than 50,000 times per month by wealth advisors and industry leaders, www.TheDIWire.com is an invaluable resource for anyone interested in the illiquid alternative investment industry. e.thumbh = e.thumbhide>=pw ? #menu-item-2870, #menu-item-1147, #menu-item-1149, #menu-item-1150, #menu-item-1152, #menu-item-1153, #menu-item-2871, #menu-item-1136, #menu-item-1139, #menu-item-1133, #menu-item-1137, #menu-item-1135, #menu-item-1142, #menu-item-1141, #menu-item-2974, #menu-item-2975, #menu-item-3343, #menu-item-3344, #menu-item-4916, #menu-item-4917, #menu-item-4918, #menu-item-4920, #menu-item-4921, #menu-item-9450, #menu-item-12309, #menu-item-12303, #menu-item-13384, #menu-item-13383, #menu-item-16055,#menu-item-23904,#menu-item-23735, #menu-item-1126, #menu-item-1127, #menu-item-9849, #menu-item-14285 { margin-left: 15px; } CIMs diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. ; background: url ( https: //bluevaultpartners.com/wp-content/themes/bvp/images/headers/circle.png ) no-repeat scroll top ; Estate Planning 101 of performance results. 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