SRP/Tender: Share repurchase or tender program which permits shareholders to sell their shares back to the company, subject to limitations. The merger agreement was negotiated on behalf of CMFT and INAV by their special committees composed exclusively of disinterested independent directors. Big names such as Blackstone and Starwood are attracting more capital, and JP Morgan recently completed a filing for its plan to launch a $5 billion nontraded REIT. . When the firm was first founded in 2015, its model focused on buying out minority investors at a discount. } } 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 holds investments in net lease and . Statements that describe future plans and objectives are also forward-looking statements. QuickLiquidity also aims to provide an alternative source of liquidity to private real estate investors in vehicles such as LLCs, LPs and DSTs. PHOENIX, December 16, 2021--CIM Real Estate Finance Trust has acquired CIM Income NAV in a stock-for-stock, tax-free merger transaction MacKenzie Capital could not be reached for comment. I am an experienced C-level Executive Assistant, with superior knowledge of international companies within many differing industries. Successful stock investing involves buying low and selling high, so stock valuation is an important consideration for stock selection. Most people have been aware of this liquidity gap in real estate alts for a long time, and we view these third-party tender offer firms as step one in taking advantage of that illiquidity, says Sean Stephan, a partner at Cox Capital Partners. For more information, visitwww.cimgroup.com. e.tabw = e.tabw===undefined ? overflow: hidden; Learn more about A+ Investor here! SRP/Tender: Share repurchase or tender program which permits shareholders to sell their shares back to the company, subject to limitations. Contacting us does not guarantee that the firm will undertake representation of you. 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. ("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 . As of March 31, 2021, CIM had total assets of over $5 billion and total liabilities of nearly $2.5 billion, as compared to total assets of approximately $4 billion and liabilities of nearly $1.8 billion as of June 30, 2020. In addition to the secondary marketplaces, shareholders can contact private secondary marketbuyers such as Sell MyREIT. Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) is a real estate investment trust that primarily originates, acquires, invests in and manages performing commercial first mortgage loans . /* If html does not have either class, do not show lazy loaded images. Cim Real Estate Finance Trust Inc does not have a meaningful P/E due to negative earnings over the last 12 trailing months. }; Cim Real Estate Finance Trust Inc does not have a meaningful P/E due to negative earnings over the last 12 trailing months. } Sign Up to Receive a Free Special Report That Shows How A+ Investor Grades Can Help You Make Investment Decisions. Market-leading rankings and editorial commentary - see the top law firms & lawyers for Financial services regulation in United States 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. .ewd-ufaq-post-margin-symbol{ html:not( .jetpack-lazy-images-js-enabled ):not( .js ) .jetpack-lazy-image { 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. or has yet to provide common shareholders with full liquidity for their shares with cash and/or listed stock. sl; } } In January 2012, the board made a number of changes with a view to improving future total returns, including rebasing the dividend to what was deemed a sustainable level and changing the benchmark . Shares were initially offered at $10 per share. The Blue Vault Summit could not have been more perfectly timed. if(e.layout==="fullscreen" || e.l==="fullscreen") build their investment wealth through This communication is not a substitute for the registration statement, the proxy statement/prospectus or any other documents that will be made available to the stockholders of INAV. 3) Premium is approximate, based on the average exchange ratio. CMFT and INAV are non-traded REITs managed by affiliates of CIM Group, LLC ("CIM"). } 0 : e.tabw; Some of the crowdfunding sites, such as Cadre, also have a secondary market for investors. It is essentially the inverse of the P/E ratio. 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. Diversification:CC CMFT's combined 590 property, 23.8-million-square-foot real estate portfolio will have greater tenant, industry and asset type diversity, providing CC CMFT with greater flexibility to opportunistically pursue growth strategies and recycle non-core assets. Over the years, there have been a number of secondary marketplaces that have launched and failed. 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. . Learn more about whether Cim Real Estate Finance Trust Inc is a good stock to buy or sell based on recent news as well as its key financial metrics. More recently, Realto launched a secondary marketplace platform. left: initial; As of June 30, 2020, it was disclosed that the Companys loan portfolio consisted of 143 loans with a net book value of $598.4 million, and investments in real estate-related securities of $16.1 million.. 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. background-size: 1600px auto; 1) Based on CMFT and INAVs respective most recently published NAVS, published as of 3/31/2021 and 7/31/2021 respectively. The only media site dedicated exclusively to the coverage of non-traded REITs, business development companies, interval funds, closed-end funds, DSTs and the full range of private placement offerings, The DI Wire has grown to become the most trusted news source for the community of sponsors, broker-dealers and wealth advisors who provide these investment offerings to millions of American retail investors. } CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. CMFT is managed by affiliates of CIM. programs of education, publications, 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. e.thumbhide = e.thumbhide===undefined ? The combined CMFT, CCIT III and CCPT V (Combined Company) has approximately $4.8 billion in total asset value and a net asset value (NAV) of $2.6 billion, based upon the companies respective June 30, 2020 NAVs, creating a leading commercial real estate credit-focused REIT with scale, primarily invested in net lease assets and commercial real estate debt. I always see my role as being more than an Executive Assistant; for example; I have arranged and managed large company-wide activities . #primary-menu .dropdown-menu.show{ for (var i in e.rl) if (e.gh[i]===undefined || e.gh[i]===0) e.gh[i] = e.gh[i-1]; However, one drawback of those structures has always been that investors have few options to get capital out if they need an early exit, which has fueled a practice, mini-tender offers, that some critics view as predatory. CIM Real Estate Finance Trust, Inc. ("CMFT"), Cole Office & Industrial REIT (CCIT III), Inc. ("CCIT III") and Cole Credit Property Trust V, Inc. ("CCPT V") today announced that CMFT has acquired each of CCIT III and CCPT V in separate stock-for-stock, tax-free merger transactions pursuant to definitive agreements executed in August 2020 and amended in October and November 2020. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. 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. A+ Investor adds to its qualitative teaching by giving you a powerful data suite that helps you whittle down investment decisions, find stocks, exchange-traded funds (ETFs) or mutual funds that meet your needs and understand your portfolio at a more detailed level. Review the table below to see how Cim Real Estate Finance Trust Inc stock stands up against its competitors. Events. display: none; } 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. Company Name, Ticker, Suppliers, else.. . CC CMFTs top five tenant concentration decreases from 22% at both CMFT and INAV to 19%, with no single tenant concentration above 5%. 812-14909. Uninitiated investors in non-traded REITs may come to learn too late that their ability to exit their investment position is limited. I have previously needed to prioritise taking senior short term roles as they arose, in order to afford me financial stability. Digital Media Kit; . CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. 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 andCo-Founderof CIM Group. Contacting us, by itself, does not create an attorney-client relationship. Cautionary Statement Regarding Forward-Looking Information. e.tabh = e.tabh===undefined ? right: 0; e.thumbw = e.thumbw===undefined ? 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. President at Queens' College, Cambridge 5 At the effective time of the CCIT III . } Stockholders of INAV will be able to obtain such documents free of charge at the SECs website,www.sec.gov, or through CIM Group LLCs website athttps://www.cimgroup.com/announcements, as they become available. Comrits recent tender offer follows a previous offer made to CIM investors which closed in April 2021, at an offer price of $4.50 per share. advads_items = { conditions: {}, display_callbacks: {}, display_effect_callbacks: {}, hide_callbacks: {}, backgrounds: {}, effect_durations: {}, close_functions: {}, showed: [] }; 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. //}); 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. The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. div.ufaq-faq-title h4{ CIM investors who require immediate liquidity through participation in Comrits current tender offer may suffer considerable losses, excluding any distributions to date. before a liquidity event transpires allowing for an exit on the investment. What are trust services? #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. 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. These offer intuitive AF grades for each of five key investing factors: value, growth, momentum, earnings revisions and quality. document.documentElement.classList.add( } 2020 Cole Credit Property Trust V, Inc. Cole Office & Industrial REIT (CCIT III), Inc. Cole Real Estate Income Strategy (Daily NAV), Inc. CIM . 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. window.innerHeight : window.RSIH; Applicable FINRA rules mandate that broker-dealers, and by extension their financial advisors, must perform adequate due diligence on an investment before it is recommended to an investor. Cim Real Estate Finance Trust Inc does not currently pay a dividend. This communication may be deemed to be solicitation material in respect of the proposed merger of INAV with CMFT. Statements that describe future plans and objectives are also forward-looking statements. 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). 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. 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. .ewd-ufaq-faqs .printfriendly{ Cim Real Estate Finance Trust Inc (CMRF) Competitors. May 10, 2022. Bruce Ewen, MBA, CIM, CFP 150 Isabella Street Suite 1205 Ottawa, Ontario K1S 5P7 Phone: 613-755-2061 ext. 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