#primary-menu .nav-link{ } 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 . CIM Real Estate Finance Trust Inc. (CMFT), Cole Office & Industrial REIT Inc. (CCIT II), Cole Office & Industrial REIT Inc. (CCIT III), and Cole Credit Property Trust V Inc. (CCPT V), four publicly registered non-traded real estate investment trusts sponsored by affiliates of CIM Group, have agreed to merge in separate stock-for-stock transactions, with CIM Real Estate Finance Trust as the surviving entity. e.gh : e.el; margin: 0; CIM Real Estate Finance Trust, Inc. 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. var nl = new Array(e.rl.length), padding-left: 0; Prior results do not guarantee similar outcomes. Number 8860726. } sl = nl[0]; Its also important to note that these are not liquidity solutions that are being offered in a market that is no longer growing. 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. These statements are based on the current expectations of management for CMFT and INAV and on currently available industry, financial and economic data. Cim Real Estate Finance Trust Inc has a Growth Score of 50, which is Average. . .ewd-ufaq-post-margin-symbol span{ The distribution reinvestment plans of all four REITs will be suspended pending the closing of the proposed transactions. 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. Digital Media Kit; . I have previously needed to prioritise taking senior short term roles as they arose, in order to afford me financial stability. 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. 228 | Cell: 613-798-3804. gtag('js', new Date()); Giarrusso Law Group LLC is a national law firm that accepts cases throughout the United States, subject to individual state bar rules. else{ CIM Real Estate Finance Trust, Inc. . A number of opportunistic investment groups have been trying to capitalize on the illiquidity within the real estate alts sector with unsolicited mini-tender offers (less than 5%of company shares) to buy shares, often at bargain basement prices. Theme Real Estate. .ewd-ufaq-faqs .printfriendly{ text-transform: capitalize !important; Contacting us does not guarantee that the firm will undertake representation of you. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. } 0 : e.thumbh; 0 : parseInt(e.thumbw); 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 . line-height: 31px; e.tabh = e.tabh===undefined ? margin-bottom: 4px; Cole Credit Property Trust V has investments in retail net lease and multi-tenant retail assets. For more information, visitwww.cimgroup.com. de C.V.) (BIVA: MEXAMX), a leading financial technology company in . https://www.wealthmanagement.com/sites/wealthmanagement.com/files/logos/Wealth-Management-Logo-white.png. 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. Estate Planning 101 . 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. 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. The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. We believe combining INAV and CMFT will benefit stockholders of both companies by creating a larger, more diversified and valuable company, positioning the company for a public market listing, said Richard Ressler, Principal and Co-Founder of CIM Group. 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. 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. } Further, by joining A+ Investor you can see whether Cim Real Estate Finance Trust Incs stock passes any of our 60+ stock screens that have outperformed the market since their creation. CIM investors who require immediate liquidity through participation in Comrits current tender offer may suffer considerable losses, excluding any distributions to date. } 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. 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. /* If html does not have either class, do not show lazy loaded images. 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. President at Queens' College, Cambridge 5 The offer price is 56.3 percent less than the REIT's most recent net asset value per share of $7.20, as of March 31, 2021. The award ceremony which was held virtually was organised by the Forbes magazine in conjunction with the [] 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. e.thumbw = e.thumbw===undefined ? Cautionary Statement Regarding Forward-Looking Information. One example of a secondary marketplace that has been around for several years is Central Trade & Transfer. e.tabw = e.tabhide>=pw ? color: white !important; color: #f98e11; 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. 2022 Review of AAII Stock Screens: Outperforming During a Bear Market Year, Cash from Operations Ann'l Positive Last 5 yrs. By Zach Banning 0 : e.tabh; 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. } 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. text-transform: uppercase !important; Investors who wish to discuss a possible claim may contact us at (201) 771-1115 or info@gialawgroup.com for a no-cost, confidential consultation. Four publicly registered non-traded real estate investment trusts sponsored by CIM Group have agreed to merge in separate stock-for-stock transactions. STOCKHOLDERS OF INAV ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE RELEVANT PROXY STATEMENT, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. 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. Serabi Gold plc (AIM:SRB, TSX:SBI), the Brazilian-focused gold mining and development company, is pleased to report operational results for the final quarter of 2022 and provide a review of its development and exploration activities. The transactions were subject to the approval of the respective mergers and certain other matters by stockholders of CCIT III and CCPT V. Both CCITIII and CCPT V stockholders voted in favor of the respective mergers during virtual special meetings of stockholders held on December17, 2020. } AAIIs A+ Investor Quality Grade comes from the ranking of key metrics. e.thumbh = e.thumbhide>=pw ? }; Serabi Gold plc ("Serabi" or the "Company") Serabi exceeds production guidance for 2022. Six years ago, the firm shifted its model to offer loans secured by minority interest positions in real estate partnerships. For immediate release. Founded as the Taverners Trust and initially managed by Aberdeen Asset Management, the trust became the Midas Income & Growth Trust in August 2005. You should not act or elect to act based upon this information without seeking professional counsel regarding your situation. BREIT's S shares, with a minimum investment of $2,500, cost 2.1% per year (a 1.25% management fee plus a 0.85% stockholder servicing fee), in . 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. Market-leading rankings and editorial commentary - see the top law firms & lawyers for Financial services regulation in United States newh = Math.max(e.mh,window.RSIH); CMFT is managed by affiliates of CIM. 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