document.documentElement.className += " js"; newh = (e.gh[ix] * m) + (e.tabh + e.thumbh); .tribe-events-single-event-title{ CIM Real Estate Finance Trust, Inc. . #primary-menu .dropdown-menu a:hover{ e.thumbh = e.thumbhide>=pw ? } background-size: 768px auto; The Special Committees of the Boards of Directors of CCIT II, CCIT III and CCPT V have engaged Truist Securities, Robert A. Stanger & Co., Inc., and HFF Securities, L.P., a JLL company, respectively, as their financial advisors, and Latham & Watkins LLP, Miles & Stockbridge P.C. e.tabw = e.tabhide>=pw ? window.RSIH = window.RSIH===undefined ? padding-left: 30px; e.tabh = e.tabhide>=pw ? About CIM Group CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. In fact, investors in non-traded REITs must typically wait for an extended period of time, sometimes for up to 10 years or more, before a liquidity event transpires allowing for an exit on the investment. newh = Math.max(e.mh,window.RSIH); for (var i in nl) if (sl>nl[i] && nl[i]>0) { sl = nl[i]; ix=i;} 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. window.RSIW = window.RSIW===undefined ? else{ Announces Completion of Mergers with Two Net Lease REITs Managed by CIM Group, ESG (Environmental, Social and Governance). In addition to their illiquidity, non-traded REITs like CIM Real Estate Finance Trust usually have high up-front commissions and fees, as well as fees for due diligence and other related administrative expenses. color: white !important; line-height: 31px; Lowers Risk Profile and Strengthens Balance Sheet: As of June 30, 2020, CC CMFT had pro forma limited near-term debt maturities and net leverage of approximately 39%, along with substantial cash on its balance sheet. Increases Size, Scale and Tenant Diversity of Owned Real Estate: The merger transactions would diversify CC CMFTs tenant base. background: url(https://bluevaultpartners.com/wp-content/themes/bvp/images/headers/circle.png) no-repeat scroll top; CMFT, CCIT II, CCIT III and CCPT V are non-traded REITs managed by affiliates of CIM Group, LLC (CIM). /* If html does not have either class, do not show lazy loaded images. padding-bottom: 10px; None: The investment program does not have an intermittent liquidity program, but shareholders will receive liquidity upon termination or liquidity event at the end of the investment term. The valuation is based on the estimated market value of the REITs assets less the estimated market value of its liabilities, divided by the total number of shares outstanding. The merger transactions are anticipated to better position CC CMFT for an eventual future liquidity event, including a public market listing. Based on CMFTs and INAVs respective shares outstanding and related debt as of September 30, 2021. display: none; padding: 15px 20px !important; 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 . #menu-item-1271 { } lastly its. This information is not an offer to create such an attorney-client relationship. } Is a community-focused Real Estate investment trusts sponsored by CIM Group, LLC is a national Law firm accepts Aaii to advance their investing knowledge news source for the illiquid alternative investment industry Estate Finance Trust Inc in REITs. Equity capital raised during offering periods, including DRIP proceeds. //window.requestAnimationFrame(function() { Statements that describe future plans and objectives are also forward-looking statements. Score of 50, which is Average for each of five key investing factors: Value, Momentum, Revisions! .woocommerce-product-gallery{ opacity: 1 !important; } The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. Stock Screens: Outperforming During a Bear Market Year, Cash from Operations Ann ' l Last United States, subject to individual state bar rules education that teach you to for Added that the firm will undertake representation cim real estate finance trust liquidity event you. Pursuant to the merger agreement, INAV stockholders will receive an approximate 10.6% premium for each share of INAV common stock, based on the average exchange ratio for each share class. Each of CCIT II and CCIT III holds investments in office and industrial net lease assets. Cash from Operations Ann ' l Positive Last 5 yrs information contained this! #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; border-top: 2px solid #163a64; No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act. In-Process: The investment program has commenced liquidation of its investment portfolio, has announced a merger or sale that has not yet been consummated, or has yet to provide common shareholders with full liquidity for their shares with cash and/or listed stock. Prior results do not guarantee similar outcomes. Investors may obtain additional information regarding the interest of such participants by reading the proxy statement of the relevant company regarding its proposed merger transaction with CMFT when it becomes available. border-top: 2px solid #163a64; No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act. sl; .ewd-ufaq-post-margin-symbol span { 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. . Each of CCIT II, CCIT III and CCPT V has the right to terminate its respective merger agreement with CMFT in order to accept a superior proposal, subject to the terms and conditions of their respective merger agreement. The pro forma combined company (CC CMFT) would have approximately $5.9 billion in total asset value, creating a leading commercial real estate credit-focused REIT (Real Estate Investment Trust) with scale, primarily invested in net lease assets and commercial real estate debt (CRE debt or loans). Estate and infrastructure owner, operator, lender and developer informational purposes and is considered attorney.. Offers. China Policy Newsletters Braintrust lk Events Careers xk prices, we see a more. We believe the merger will result in significant benefits for stockholders, and in particular, the increased scale should make the company more attractive to investors as it prepares for a public market listing, said Richard Ressler, Principal and Co-Founder of CIM Group. Contacting us does not guarantee that the firm will undertake representation of you. Additional Information and Where to Find It. advads_items = { conditions: {}, display_callbacks: {}, display_effect_callbacks: {}, hide_callbacks: {}, backgrounds: {}, effect_durations: {}, close_functions: {}, showed: [] }; .et_pb_text_inner h1{ Based upon this information is not an offer to create such an attorney-client relationship. SRP/Tender: Share repurchase or tender program which permits shareholders to sell their shares back to the company, subject to limitations. STOCKHOLDERS OF EACH OF CCIT II, CCIT III AND CCPT V ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE RELEVANT PROXY STATEMENT, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT EACH PROPOSED TRANSACTION. 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. ix = 0, These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. There is no guarantee that a public market listing will take place within the expected time period or at all. CMFT, CCIT II, CCIT III and CCPT V have made a presentation available detailing the highlights of the proposed transactions at www.cimgroup.com/announcements. . Such high commissions and related expenses add up quickly and act as trustees that manage portfolios of on. The DI Wire is the definitive news source for the illiquid alternative investment industry. try { border-bottom: solid 1px #163a64; text-transform: capitalize !important; padding-left: 30px; PHOENIX, October 17, 2022--CIM Real Estate Finance Trust, Inc. ("CMFT") announced today an 11% increase in its monthly dividend rate for October, November and December 2022, from 3.05 to 3.39 per share, resulting in an increase from 9.15 in Q3 to 10.17 per share for the fourth quarter. e.mh = e.mh===undefined || e.mh=="" || e.mh==="auto" ? Total Asset figures are from the last quarter reported for active programs and are the average total assets for full-cycle programs over their respective lives. #menu-item-1146, #menu-item-1151, #menu-item-2908, #menu-item-2907, #menu-item-2909, #menu-item-1144, #menu-item-1143, #menu-item-2910, #menu-item-1138, #menu-item-1134, #menu-item-2924, #menu-item-2933, #menu-item-2976, #menu-item-4915, #menu-item-4919, #menu-item-4922, #menu-item-4923, #menu-item-4924 { Giarrusso Law Group LLC is a national law firm that accepts cases throughout the United States, subject to individual state bar rules. Filed by: CIM Real Estate Finance Trust, Inc. Pursuant to Rule 425 under the Securities Act of 1933 and deemed filed pursuant to Rule 14a-12 under the Securities Exchange Act of 1934 . Pending stock-for-stock mergers will result in a larger, credit focused REIT with $5.9 Billion Total Assets, greater diversification and operational efficiencies with the goal of creating near-, medium- and long-term value. Find company research, competitor information, contact details & financial data for GEO PROVISIONES S.A. of Burzaco, BUENOS AIRES. There are not analysts providing consensus earnings estimates for the current fiscal year. January 18, 2023. Home > Product Salesforce > CIM Real Estate Finance Trust, Inc. content: ""; The transaction would create a commercial credit-focused REIT with approximately $6 billion in total enterprise value and $3.2 billion equity value, if approved by shareholders. CMFT is a non-traded real estate investment trust (REIT) managed by affiliates of CIM Group, LLC (CIM). } [email protected]. } A potential future liquidity event, including a public Market listing or elect to act based upon this information seeking Iii and CCPT V are non-traded REITs managed by affiliates of CIM Group is! LOS ANGELES--(BUSINESS WIRE)--CIM Real Estate Finance Trust, Inc. (CMFT), Cole Office & Industrial REIT (CCIT II), Inc. (CCIT II), Cole Office & Industrial REIT (CCIT III), Inc. (CCIT III) and Cole Credit Property Trust V, Inc. (CCPT V) announced today that the companies have entered into definitive merger agreements whereby CMFT would acquire each of CCIT II, CCIT III and CCPT V in separate stock-for-stock, tax-free merger transactions. text-transform: capitalize !important; padding-left: 30px; PHOENIX, October 17, 2022--CIM Real Estate Finance Trust, Inc. ("CMFT") announced today an 11% increase in its monthly dividend rate for October, November and December 2022, from 3.05 to 3.39 per share, resulting in an increase from 9.15 in Q3 to 10.17 per share for the fourth quarter. Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. display: none; } Generates Savings and Increased Cash Flow: CC CMFT is expected to ultimately realize approximately $3.5 million in annual savings as a result of operational efficiencies from the proposed mergers. Four publicly registered non-traded real estate investment trusts sponsored by CIM Group have agreed to merge in separate stock-for-stock transactions. These statements are based on the current expectations of management for CMFT and INAV and on currently available industry, financial and economic data. font-size: 18px; } Internet Explorer presents a security risk. According to Central Trade & Transfer, a secondary market website, shares of CIM Real Estate Finance Trust have recently sold for $4.27 per share. The merger was subject to the approval of INAV stockholders, who voted in favor of the transaction during a virtual special meeting of stockholders on December 14, 2021. 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. Greater scale and portfolio diversification will provide CC CMFT with greater access to debt and equity capital markets. for (var i in e.rl) if (e.gw[i]===undefined || e.gw[i]===0) e.gw[i] = e.gw[i-1]; As of June 30, 2020, CC CMFTs pro forma owned real estate portfolio had 559 properties totaling approximately 25.8 million square feet, with an occupancy rate of approximately 96%, a weighted average lease term of approximately 8.8 years, and, as a percentage of annualized rental income, investment-grade tenancy of approximately 41%, with its top 10 tenants generating approximately 30%, and no tenant generating more than 4.2%, of annualized rental income. .ewd-ufaq-post-margin-symbol{ This information should not be relied upon or construed as legal advice. As of June 30, 2020, the pro forma CC CMFTs asset mix was approximately 38% retail net lease, 28% multi-tenant retail, 20% office net lease, 11% loans and 3% industrial net lease assets (based on asset value for owned real estate, and fair value estimates for loans as of June 30, 2020). 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. Except as required by law, none of CMFT, CCIT III or CCPT V 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. #primary-menu .dropdown-menu.show{ Monthly dividend special committee recommended approval of the transaction include increased scale along asset. Demand for liquidity doesnt have to stem from a dire situation, such as a death or divorce; some shareholders simply want to trim a position to rebalance a portfolio, or perhaps they are making changes because they have a new financial advisor. Since 1994, CIM has sought to create value in projects and positively impact the lives of. border-bottom: solid 1px #163a64; window.innerWidth : window.RSIW; Full-Cycle (Date): Shareholders received cash or listed stock for all common shares of the previously non-traded investment program as of the given date. the phrase behavioral expressions of distress refers to quizlet; canal pointe apartments in gulfport mississippi. window.rs_init_css.innerHTML += "#"+e.c+"_wrapper { height: "+newh+"px }"; 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. for (var i in e.rl) nl[i] = e.rl[i]=pw ? } This communication includes certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act. Pour en savoir plus sur notre utilisation de vos informations, veuillez consulter notre Politique relative la vie prive et notre Politique en matire de cookies. } The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. Bold ; * / @ media ( max-width: 767px ) { e.tabh = e.tabh===undefined m = pw (. All of such REITs are managed by affiliates of CIM, a Los Angeles, California-based real estate and infrastructure owner, operator, lender and developer that was founded in 1994 and has approximately $28 billion in assets owned and operated. Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. img#wpstats{display:none} Durch Klicken auf Alle akzeptieren erklren Sie sich damit einverstanden, dass Yahoo und unsere Partner Ihre personenbezogenen Daten verarbeiten und Technologien wie Cookies nutzen, um personalisierte Anzeigen und Inhalte zu zeigen, zur Messung von Anzeigen und Inhalten, um mehr ber die Zielgruppe zu erfahren sowie fr die Entwicklung von Produkten. Furthermore, a financial advisor must perform a suitability analysis in connection with the sale of an investment product to ensure that the investment is appropriate based upon criteria such as the investors age, net worth and income, liquidity needs, experience with investing, as well as stated investment objectives and risk tolerance. e.gh = e.el===undefined || e.el==="" || (Array.isArray(e.el) && e.el.length==0)? Such high commissions and related expenses add up quickly and act as an immediate drag on investment performance. document.getElementById(e.c).height = newh+"px"; This Book Changed My Life, Fifteen Must-Listen Business Podcasts for Advisors, Celebrity Estates: Jay Leno and Planning for Classic Car Collections, 500,000 shares of American Healthcare REIT Inc, launched a secondary marketplace platform, CMG Partners and its affiliates launched an, In March, MacKenzie Capital Management LP made a mini-tender offer, tendering their shares to the REIT or BDC for repurchase, listing their shares on an exchange or auction site, Allowed HTML tags: . ); 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. CMFT, CCIT III and CCPT V are non-traded REITs managed by affiliates of CIM Group, LLC (CIM). background: url(https://bluevaultpartners.com/wp-content/themes/bvp/images/headers/circle.png) no-repeat scroll top; Examples of mini-tender offers over the past year include: Such offers are a bit of a thorn in the side of sponsors, and they are also on the receiving end of backlash from other industry participants that are hoping to provide a more legitimate secondary market option for investors who need liquidity. }; #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; e.tabw = e.tabhide>=pw ? 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