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1) Based on CMFT and INAVs respective most recently published NAVS, published as of 3/31/2021 and 7/31/2021 respectively. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act. Join the 2,000,000+ individuals who have used AAII to advance their investing knowledge. 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. padding: 15px 20px !important; Announces Completion of Merger with CIM Income NAV, Inc. Equity capital raised during offering periods, including DRIP proceeds. For a free consultation with a securities attorney, please call the offices at 888-637-5510. 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). Contacting us does not guarantee that the firm will undertake representation of you. 0 : parseInt(e.thumbhide); sl = nl[0]; 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. This communication includes certain forward-looking statements within the meaning of Section 27A the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended. } } Investors who wish to discuss a possible claim are invited to contact us by telephone at (201) 771-1115 or by email at info@gialawgroup.com for a no-cost and no-obligation consultation. Click here to visit CIM Groups directory sponsor page. var m = pw>(e.gw[ix]+e.tabw+e.thumbw) ? By Zach Banning e.thumbhide = e.thumbhide===undefined ? 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 investors who require immediate liquidity through participation in Comrit's current tender offer may suffer considerable losses, excluding any distributions to date. Prior results do not guarantee similar outcomes. 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. . display: block; } 812-14909. 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. e.tabh = e.tabh===undefined ? build their investment wealth through /*font-weight: bold;*/ 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. margin: 0; for (var i in nl) if (sl>nl[i] && nl[i]>0) { sl = nl[i]; ix=i;} REITs pool investors' capital and act as trustees that manage portfolios of properties on behalf of . In the real estate investing world, there's a crowded arms race to become the go-to "fractional" investing platform where you can buy $100 shares in $1 million homes. Information on this website should be regarded as opinion based on publicly available information and not as fact. window.RSIW = window.RSIW===undefined ? Digital Media Kit; . var advadsCfpQueue = []; Subject to the terms and conditions of the merger agreement, INAV stockholders would receive an approximate 10.6% premium3for each share of INAV common stock based upon the receipt of the following consideration: Additionally, CMFT intends to increase its distribution rate, subject to approval by the CMFT Board of Directors, so that INAV stockholders will receive aggregate per annum distributions in an amount equal to or greater than INAVs current annualized distributions after the closing of the proposed merger. MONTRE gtag('config', 'G-7K1TNEL3NK');
Definition of REITs. gtag('js', new Date());
MacKenzie Capital could not be reached for comment. padding-bottom: 10px; Last year, the Company announced its intention to transition to a mortgage REIT. The companies in the bottom 20% of the stock universe receive Growth Grades of F, considered Very Weak, while those in the top 20% receive A grades, which are considered Very Strong. #primary-menu .dropdown-menu a:hover{ CC CMFTs top five tenant concentration decreases from 22% at both CMFT and INAV to 19%, with no single tenant concentration above 5%. 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. The transactions were subject to the approval of the respective mergers and certain other matters by stockholders of CCIT III and CCPT V. Both CCIT III and CCPT V stockholders voted in favor of the respective mergers during virtual special meetings of stockholders held on December 17, 2020. 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. 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 . These offer intuitive AF grades for each of five key investing factors: value, growth, momentum, earnings revisions and quality. 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. Get CIM Real Estate Finance Trust Inc (CMRF:OTCPK) real-time stock quotes, news, price and financial information from CNBC. About CIM Group CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Serabi Gold plc ("Serabi" or the "Company") Serabi exceeds production guidance for 2022. 3) Premium is approximate, based on the average exchange ratio. I think almost everybody in the industry would agree that there is a need for liquidity options for investors. #primary-menu .nav-link{ Successful stock investing involves buying low and selling high, so stock valuation is an important consideration for stock selection. CMFT is managed by affiliates of CIM. Private real estate vehicles have struggled to develop a secondary marketplace. The merger agreement was negotiated on behalf of CMFT and INAV by their special committees composed exclusively of disinterested independent directors. CIM Real Estate Finance Trust, Inc. . NEW YORK, Jan. 17, 2023 (GLOBE NEWSWIRE) Apollo Commercial Real Estate Finance, Inc. (the "Company" or "ARI") (), today announced the Company will hold a conference call to review its fourth quarter and full year 2022 financial results on Thursday, February 9, 2023 at 10:00 a.m. Eastern Time.The Company's fourth quarter and full year 2022 financial results will be released after . For immediate release. SRP/Tender: Share repurchase or tender program which permits shareholders to sell their shares back to the company, subject to limitations. RBC Capital Markets, LLC is acting as financial advisor to the Special Committee of the Board of Directors of CMFT, and Sullivan & Cromwell LLP and Venable LLP are acting as legal advisors to the Special Committee of the Board of Directors of CMFT. Ressler added that the combined company could provide several benefits for stockholders and would be well-positioned to navigate the post-COVID economic environment. This may indicate significant losses for investors. 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. if ( 'undefined' == typeof advadsProCfp ) { advadsCfpQueue.push( adID ) } else { advadsProCfp.addElement( adID ) } Lastly, its important to evaluate a stock by comparing it against others in the same industry. window.RSIW : pw; This information should not be relied upon or construed as legal advice. .ewd-ufaq-post-margin-symbol{ 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. 0 : parseInt(e.mh,0); newh = (e.gh[ix] * m) + (e.tabh + e.thumbh); 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. These conversations are paramount, especially in a time of significant regulatory change. QuickLiquidity also aims to provide an alternative source of liquidity to private real estate investors in vehicles such as LLCs, LPs and DSTs. window.dataLayer = window.dataLayer || [];
CMFT and INAV are non-traded REITs managed by affiliates of CIM Group, LLC ("CIM"). Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. CMFT and INAV are non-traded REITs managed by affiliates of CIM Group, LLC (CIM). Financial System Trends: The Monetary Policy Committee (MPC) raised the monetary policy rate and the cash reserve ratio, cumulatively, by 500 basis points to 16.5 per cent and 32.5 per cent, respectively as a way of enforcing liquidity tightening measures to curb rising inflation. overflow: hidden; 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. var advadsCfpAd = function( adID ){ ix = 0, We list all the recent dividend announcements and dividend yields from PNK: CMRF where possible. CCIT III stockholders will receive 1.098 shares of CMFT stock for each CCIT III share and CCPT V stockholders will receive 2.892 shares of CMFT stock for each CCPT V share. This increase, of 11% quarter over quarter, will be reflected in shareholders' monthly dividend . function setREVStartSize(e){ Morris, Manning & Martin, LLP is acting as REIT and securities counsel in connection with the transaction. market. Such documents are not currently available. Get your free copy of our special CMFT, CCIT III and CCPT V arenon-tradedREITs managed by affiliates of CIM Group, LLC (CIM). Events. The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. 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. 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. 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. CMFT and INAV are non-traded REITs managed by affiliates of CIM Group, LLC ("CIM"). CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. 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. 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. 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. img#wpstats{display:none} Suspended: The investment program has suspended its share repurchase or tender program. margin-top: 25px; Specifically, the Quality Grade is the percentile rank of the composite return on assets (ROA), return on invested capital (ROIC), gross profit relative to assets, buyback yield, change in total liabilities to assets, accruals, Z double prime bankruptcy risk (Z) score and FScore. padding-left: 30px; for (var i in e.rl) nl[i] = e.rl[i]
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