You see some of these more mainstream institutions getting into the space, because of the opportunity set that exists, and you need to build it front to back, meaning you need to give investors liquidity options to make the market more efficient, says Stephan. document.getElementById(e.c).height = newh+"px"; } Go Back. 10/17/2022 CIM Real Estate Finance Trust, Inc. Increases Fourth Quarter Dividends by 11%; 12/20/2021 CIM Real Estate Finance Trust, Inc. to Sell Non-Core, Multi-Tenant Retail Properties for More Than $1.32 Billion; 12/16/2021 CIM Real Estate Finance Trust, Inc. #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; For more information, visitwww.cimgroup.com. INAVis managed by affiliates of CIM. } 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. 812-14909. Contacting us, by itself, does not create an attorney-client relationship. 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. CIMs board recently announced a post-merger net asset value (NAV) of $7.20 per share for the Companys common stock, valued as of March 31, 2021. The American Association of Individual Investors is an independent, nonprofit corporation formed for the purpose of assisting individuals in becoming effective managers of their own assets through programs of education, information and research. CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. margin-right: 5px; This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. This information should not be relied upon or construed as legal advice. Announces Completion of Merger with CIM Income NAV, Inc. Join the 2,000,000+ individuals who have used AAII to advance their investing knowledge. 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. LOS ANGELES--CIM Real Estate Finance Trust, Inc. ("CMFT") announced today it has entered into a definitive merger agreement to acquire CIM Income NAV, Inc. ("INAV") in a stock-for-stock, tax-free merger transaction. } One example of a secondary marketplace that has been around for several years is Central Trade & Transfer. By Zach Banning THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. Although the firm will present buyout offers for investors who reach out wanting liquidity, the majority of its business focuses on providing loans with the partnership shares as collateral. This allows investors to access liquidity without selling at a discount, notes Miller. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act. 0 : parseInt(e.tabw); 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. The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. MacKenzie and its affiliates currently own 11,118 shares. 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). e.gw = Array.isArray(e.gw) ? 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 . 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. Cost Savings:CC CMFT is expected to realize $2.8 million of annualized general and administrative synergies on a run-rate basis with additional cash flow improvement of $2.5 million to INAV stockholders through the elimination of ongoing stockholder servicing fees. INAV holds investments in office, industrial and retail assets. Private real estate vehicles have struggled to develop a secondary marketplace. The most recent NAV of $7.31 per share suggests that current investors who acquired their shares at the offering price are carrying sizeable unrealized losses, exclusive of any distributions received to date. var advadsCfpAd = function( adID ){ programs of education, publications, CIM investors who require immediate liquidity through participation in Comrit's current tender offer may suffer considerable losses, excluding any distributions to date. Click here to visit CIM Groups directory sponsor page. Review the table below to see how Cim Real Estate Finance Trust Inc stock stands up against its competitors. Oftentimes, they are thrilled to take any available offer because there are no other options to access quick liquidity, even if they feel that the offer doesnt represent a fair price, notes Cox. margin-bottom: 15px; Investors may obtain additional information regarding the interest of such participants by reading the proxy statement of INAV regarding its proposed merger with CMFT when it becomes available. This transaction is expected to close in the fourth quarter of 2021, subject to certain closing conditions, including INAV stockholder approval. Following the onset of the COVID-19 pandemic and the related economic impact of shutdowns, each of CMFT, CCIT II, CCIT III, and CCPT V undertook comprehensive reviews of their businesses and prospects and concluded that greater scale, tenant diversity, asset type diversity, financial strength and fund raising flexibility would best position each of them to thrive in a post-pandemic economic environment, said Richard Ressler, principal and co-founder of CIM Group. Statements can generally be identified as forward-looking because they include words such as believes, anticipates, expects, would, could, or words of similar meaning. The award ceremony which was held virtually was organised by the Forbes magazine in conjunction with the [] In connection with the proposed merger, CMFT intends to file a registration statement on Form S-4 with the SEC that will include a proxy statement of INAV and will also constitute a prospectus of CMFT. The transactions are expected to close in the fourth quarter of 2020, pending stockholders approval. 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. software and grassroots meetings. Both CMFT and INAV and their directors and executive officers, as well as certain affiliates of CIM Group, LLC serving as their external advisors, may be deemed to be participants in the solicitation of proxies from their respective shareholders (or, in the case of CMFT, from the stockholders of INAV) in respect of the proposed merger between INAV and CMFT. 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. I am an experienced C-level Executive Assistant, with superior knowledge of international companies within many differing industries. .site-header { . Overall, Cim Real Estate Finance Trust Inc stock has a Growth Grade of C, . In this way, you can effectively become a manager of your own wealth‐without having to rely on others for your financial independence. 0 : parseInt(e.thumbhide); 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. 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. You can use the information about how Cim Real Estate Finance Trust Inc stock is graded to determine if you should invest in this specific company. .et_pb_text_inner h1:before{ PERE Global Passport membership allows decision-makers to . background-size: 768px auto; PHOENIX, December 16, 2021--CIM Real Estate Finance Trust has acquired CIM Income NAV in a stock-for-stock, tax-free merger transaction Cox Capital has underwritten assets with as little as a 1% or 2% discount to about 35% for a more illiquid and distressed asset. Since inception in 1978, the nonprofit try { When initially contacting us via the websites contact form, e-mail, telephone, or by any other means, do not include any confidential or sensitive information. SRP/Tender: Share repurchase or tender program which permits shareholders to sell their shares back to the company, subject to limitations. However, there was usually a big disconnect in pricing, what QuickLiquidity wanted to pay versus what the shareholder was willing to accept, notes Miller. The Combined Companys greater size and improved portfolio diversification should provide it with greater access to debt and equity capital markets. font-size: 15px; e.tabh = e.tabhide>=pw ? Traditionally, shareholders seeking liquidityhave been limited to options that include: However, groups such as Cox Capital and QuickLiquidity are working to educate stakeholders about alternatives for liquidity. width: 70px; else{ In some instances, investors may be uninformed and unaware that income received on the investment may consist substantially of return of capital from other investors. 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. 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. CMFT holds investments in net lease and . In order to compute the Growth Score and assign it a letter grade, the percentile ranks for each of the three individual components‐consistency of annual sales growth, five‐year sales growth rankings adjusted for extreme levels, and consistency of positive annual cash from operations‐must be determined. This may indicate significant losses for investors. Information regarding the directors, executive officers and external advisors of INAV and CMFT is contained in the Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC by each entity on March 31, 2021, as amended by INAV on April 19, 2021 and as amended by CMFT on April 27, 2021. Equity capital raised during offering periods, including DRIP proceeds. CCITIII stockholders will receive 1.098 shares of CMFT stock for each CCITIII share and CCPT V stockholders will receive 2.892 shares of CMFT stock for each CCPT V share. Its also important to note that these are not liquidity solutions that are being offered in a market that is no longer growing. Each special committee recommended approval of the merger agreement to its respective Board of Directors. Headquartered in Phoenix, Arizona, CIM Real Estate Finance Trust primarily owns and operates a real estate portfolio of net leased properties throughout the United States. The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. The foundation of growth investing is seeking out stocks of companies exhibiting strong, consistent and prolonged growth that is expected to continue into the future. Click into any of the below tickers to see their stock grades for value, momentum, quality and EPS revisions. The Company expects to provide an updated 5-year outlook in Q1 2023 upon completion of ongoing Project Honeypot . 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