Unlike stocks or ETFs, which can be readily sold and resold on a deep and liquid national securities exchange, an investment in a non-traded REIT such as CIM Real Estate Finance Trust cannot be easily exited. Unfortunately, some investors in CIM Real Estate Finance Trust may have been induced into making an unsuitable investment in the Company, or otherwise misled into investing without being adequately advised as to the investments risk components. .ufaq-faq-body { and. For each share of common stock, CCIT II, CCIT III and CCPT V stockholders would receive, 1.501,1.093 and 2.691 shares of CIM Real Estate Finance Trust common stock, respectively, which is valued at approximately $10.97 per CCIT II share, $7.99 per CCIT III share and $19.67 per CCPT V share, based on CIM Real Estate Finance Trusts most recently estimated net asset value per share of $7.31. . 0 : e.thumbw; Ressler added that the combined company could provide several benefits for stockholders and would be well-positioned to navigate the post-COVID economic environment. Each special committee recommended approval of the merger agreement to its respective Board of Directors. The Combined Company will provide several benefits for stockholders and will be well-positioned to navigate the post-COVID economic environment with enhanced financial and operational flexibility and efficiency, making the Combined Company more valuable, said Richard Ressler, Principal and Co-Founder of CIM Group. #primary-menu .dropdown-menu a:hover{ Definition of REITs. 0 : parseInt(e.tabh); CIM investors who require immediate liquidity through participation in Comrit's current tender offer may suffer considerable losses, excluding any distributions to date. Cim Real Estate Finance Trust Inc does not have a meaningful P/E due to negative earnings over the last 12 trailing months. This communication may be deemed to be solicitation material in respect of the proposed merger of INAV with CMFT. The merger transactions could also better position it for a future liquidity event, including a public listing. e.gh = Array.isArray(e.gh) ? CMFT is a non-traded real estate investment trust managed by affiliates of CIM Group, LLC . ); } The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. window.rs_init_css.innerHTML += "#"+e.c+"_wrapper { height: "+newh+"px }"; January 18, 2023. line-height: 31px; for (var i in nl) if (sl>nl[i] && nl[i]>0) { sl = nl[i]; ix=i;} 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 . . According to documents recently filed with the U.S. Securities and Exchange Commission, Tel Aviv-based Comrit Investments 1, LP (Comrit) plans to launch a tender offer for up to 18.3 million shares of CIM at $5.01 per share, with the offer expiring on September 30, 2021 (unless extended). About CIM Real Estate Finance Trust CMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. Each respective Board of Directors subsequently unanimously approved the entry by its REIT into the merger agreement. margin-bottom: 15px; Uninitiated investors in non-traded REITs may come to learn too late that their ability to exit their investment position is limited. For example, Cox Capital does not make unsolicited offers. Announces Completion of Merger with CIM Income NAV, Inc. OFS / OFS Capital Corp; SEC Filings; CIM REAL ESTATE FINANCE TRUST, INC. - - 40-APP/A - 40-APP/A - June 30, 2020; 40-APP/A 1 tm2023615d1_40appa.htm 40-APP/A . Mini-tenders have been a thorn in the side of nontraded REIT sponsors, and they are also on the receiving end of backlash from other industry participants. Information on this website should be regarded as opinion based on publicly available information and not as fact. 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. Following the closings of the merger transactions, former stockholders of CIM Real Estate Finance Trust, CCIT II, CCIT III and CCPT V are expected to own approximately 67 percent, 22 percent, 1 percent and 10 percent of the combined company, respectively. There are not analysts providing consensus earnings estimates for the current fiscal year. e.tabhide = e.tabhide===undefined ? margin-bottom: 4px; CIM REAL ESTATE FINANCE TRUST, INC. - The Board of Directors recommends that - EX-99.1 - February 01, 2022 //window.requestAnimationFrame(function() { 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. These conversations are paramount, especially in a time of significant regulatory change. Giarrusso Law Group LLC may partner with law firms located in other jurisdictions, as needed, on a case-by-case basis, on behalf of clients located in but not limited to: New York City-Long Island-Jersey City-Newark, Atlanta-Sandy Springs-Alpharetta, Austin-Round Rock-Georgetown, Baltimore-Columbia-Towson, Boston-Cambridge-Newton, Charlotte-Concord-Gastonia, Chicago-Naperville-Elgin, Cincinnati, Dallas-Fort Worth-Arlington, Denver-Aurora-Lakewood, Detroit-Warren-Dearborn, Houston-The Woodlands-Sugar Land, Las Vegas-Henderson-Paradise, Los Angeles-Long Beach-Anaheim, Miami-Fort Lauderdale-West Palm Beach, Minneapolis-St. Paul-Bloomington, Orlando-Kissimmee-Sanford, Philadelphia-Camden-Wilmington, Phoenix-Mesa-Chandler, Pittsburgh, Portland-Vancouver-Hillsboro, Riverside-San Bernardino-Ontario, Sacramento-Roseville-Folsom, San Antonio-New Braunfels, San Diego-Chula Vista-Carlsbad, San Francisco-Oakland-Berkeley, Seattle-Tacoma-Bellevue, St. Louis, Tampa-St. Petersburg-Clearwater, and Washington DC-Arlington-Alexandria. This information is not intended to create, and receipt of this information does not constitute, an attorney-client relationship between you and Giarrusso Law Group LLC or any of its attorneys. CIM Real Estate Finance Trust completes mergers with two net lease REITs results in credit-focused REIT w $4.8B total assets Contacts Shareholder Relations [email protected] It is essentially the inverse of the P/E ratio. Following a big year of fundraising last year, real estate alternative investment vehicles, such as nontraded REITs and business development companies (BDCs), have been posting more record inflows in 2022. 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. 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. CIM Real Estate Finance Trust, Inc. Four CIM REITs Plan to Merge to Create $5.9 Billion REIT, Click here to subscribe to our Daily News Updates, Capital Square Expands Executive Team with Two New Hires, Go Store It Buys Vacant Sams Club in South Carolina OZ for Self-Storage Conversion, Bluerock Raises Record $4 Billion of Investor Capital in 2022, MacKenzie Realty Capital Increases Quarterly Dividend Again, Cerity Completes Third RIA Acquisition in January, Adding $8.6 Billion in AUM. .site-header { For example, a stock trading at $35 with earnings of $3 would have an earnings yield of 0.0857 or 8.57 . border-top: 3px solid #f98e11; While capital is pouring into these vehicles, exiting in advance of a planned liquidity event, such as a sale or IPO, can come at a steep price for shareholders. Except as required by law, neither of CMFT or INAV undertakes any obligation to update or revise any forward-looking statement in this communication, whether to reflect new information, future events, changes in assumptions or circumstances or otherwise. Click here to visit CIM Groups directory sponsor page. PERE Global Passport membership allows decision-makers to . Cim Real Estate Finance Trust Inc has a Growth Score of 50, which is Average. Willkie Farr & Gallagher LLP 600 TRAVIS STREET, SUITE 2310 HOUSTON, TX 77002 United States Before you choose to buy, sell or hold Cim Real Estate Finance Trust Inc stock, youll want to analyze how it has been graded. CIM Real Estate Finance Trust, Inc. ("CMFT") CIM Income NAV, Inc. ("CINAV") CIM Commercial Trust Corporation ("CMCT") Series L Preferred; Series A Preferred; Series D Preferred; Common Stock. Cim Real Estate Finance Trust Inc (CMRF) Competitors. The Company merged with Cole Office & Industrial REIT, Inc. and Cole Credit Property Trust V, Inc. in December 2020. }, Home > News Article > CIM Real Estate Finance Trust, Inc. Completes Merger with Two CIM Net Lease REITs. Giarrusso Law Group LLC is a national law firm that accepts cases throughout the United States, subject to individual state bar rules. 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 ability of the combined companies to achieve expected cost synergies or to engage in any liquidity event or public offering; the availability of suitable investment or disposition opportunities and access to debt and equity capital markets; the impact of the COVID-19 pandemic on the operations and financial condition the Combined Company and the real estate industries in which it operates, including with respect to occupancy rates, rent deferrals and the financial condition of its 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, CCIT IIIs and CCPT Vs 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, CCIT III and CCPT V with the SEC, copies of which are available on the SECs website,www.sec.gov. Often, surprises beget further surprises‐or at least continued sales growth (the exact opposite is generally true, too). However, you should decide whether Cim Real Estate Finance Trust Inc stock is a buy, sell or hold based on a combination of grades, metrics, ratios and U.S. Securities and Exchange Commission (SEC) reports. for (var i in e.rl) nl[i] = e.rl[i]
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