cim real estate finance trust liquidity event
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. Giarrusso Law Group LLC is a national law firm that accepts cases throughout the United States, subject to individual state bar rules. Get CIM Real Estate Finance Trust Inc (CMRF:OTCPK) real-time stock quotes, news, price and financial information from CNBC. 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. These three rank figures are added together, and the sum is ranked against the entire stock universe to arrive at a companys Growth Score to create an equal distribution of grades. VANCOUVER, British Columbia, Jan. 18, 2023 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX: ERO, NYSE: ERO) ("Ero" or the "Company") is pleased to announce its fourth quarter and full-year 2022 production results and provide 2023 production, cost and capital expenditure guidance. e.gh : e.el; /*font-weight: bold;*/ text-transform: capitalize !important; 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. window.dataLayer = window.dataLayer || []; Private real estate vehicles have struggled to develop a secondary marketplace. AAIIs stock screen that follows the companies with the highest earnings estimate revisions (i.e., the best grades) has a 23.3% backtested annual return since inception, whereas an example screen following those with the worst revisions has a backtested annual return since inception of under 5%. window.RSIH = window.RSIH===undefined ? } 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 award ceremony which was held virtually was organised by the Forbes magazine in conjunction with the [] This allows investors to access liquidity without selling at a discount, notes Miller. CMFT and INAV are non-traded REITs managed by affiliates of CIM Group, LLC ("CIM"). 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. 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. The combined CMFT, CCIT III and CCPT V (Combined Company) has approximately $4.8billion in total asset value and a net asset value (NAV) of $2.6billion, based upon the companies respective June30, 2020 NAVs, creating a leading commercial real estate credit-focused REIT with scale, primarily invested in net lease assets and commercial real estate debt. e.thumbw = e.thumbhide>=pw ? 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. color: #f98e11; . 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. Company profile page for CIM Real Estate Finance Trust Inc including stock price, company news, press releases, executives, board members, and contact information background-size: 360px auto; 0 : parseInt(e.tabh); border-top: 3px solid #f98e11; This information is not an offer to create such an attorney-client relationship. AAII can help you figure these out and identify which investments align with what works best for you. e.mh = e.mh===undefined || e.mh=="" || e.mh==="auto" ? .ewd-ufaq-post-margin-symbol{ } for (var i in e.rl) if (e.gh[i]===undefined || e.gh[i]===0) e.gh[i] = e.gh[i-1]; 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. From time to time, there are some shareholders who become desperate for liquidity for a variety of reasons, whether it is a divorce, death or some other unforeseen event. SRP/Tender: Share repurchase or tender program which permits shareholders to sell their shares back to the company, subject to limitations. 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 . 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. .ewd-ufaq-faqs .printfriendly{ INAV is a public, non-traded corporation that has elected to be taxed and currently qualifies as a REIT. Year-over-year quarterly sales growth most recently was 21.3%. Click into any of the below tickers to see their stock grades for value, momentum, quality and EPS revisions. text-transform: uppercase !important; This may indicate significant losses for investors. In addition, the real estate portfolio had 559 properties totaling approximately 25.8 million square feet, with an occupancy rate of approximately 96 percent and a weighted average lease term of approximately 8.8 years. } Each respective Board of Directors subsequently unanimously approved the entry by its REIT into the merger agreement. Web page addresses and e-mail addresses turn into links automatically. 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. } sl; Access global real estate's most influential events and network. In addition to Growth, A+ Investor also provides grades for Value, Momentum, Estimate Revisions and Quality. CIM Real Estate Finance Trust completes mergers with two net lease REITs results in credit-focused REIT w $4.8B total assets Contacts Shareholder Relations ShareholderRelations@cimgroup.com } Shares were initially offered at $10 per share. } 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. Brian King at Realto Capital describes MacKenzie Capital and others as taking a vulture-like approach that takes advantage of unsuspecting retail investors by A) painting a worst-case scenario for shareholders; B) offering a low-ball price and C) giving them a very short window to act nowjust like a late-night infomercial. Another point of contention is that third-party tender firms are circumventing financial advisors and going right to shareholders, who may not be sophisticated real estate investors. programs of education, publications, NEW YORK, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Apollo Commercial Real Estate Finance, Inc. (the "Company" or "ARI") (NYSE:ARI), today announced the Company will hold a conference call to . 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. . Banking products and services are offered by referral arrangements . background-size: 1600px auto; Often, surprises beget further surprises‐or at least continued sales growth (the exact opposite is generally true, too). Except as required by law, neither of CMFT or INAV 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. However, there is a bigger ecosystem that is being built to facilitate liquidity in a very illiquid marketplace, he adds. 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. margin: 0; Contacting us does not guarantee that the firm will undertake representation of you. This information should not be relied upon or construed as legal advice. The attorneys at Giarrusso Law Group LLC have considerable experience in handling claims on behalf of investors in non-traded REITs such as CIM Real Estate Finance Trust, Inc., as well as other complex and illiquid financial products. Learn more about A+ Investor here! 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. . 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. CIM Real Estate Finance Trust Inc. on Dec. 21 finalized its stock-for-stock mergers with Cole Office & Industrial REIT (CCIT III) Inc., or CCIT III, and Cole Credit Property Trust V Inc., or CCPT V. All three nontraded real estate investment trusts are managed by CIM Group LLC affiliates. 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. Announces Completion of Merger with CIM Income NAV, Inc. Lines and paragraphs break automatically. Such high commissions and related expenses add up quickly and act as an immediate drag on investment performance. 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 . } 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. CMFT, CCIT III and CCPT V are non-traded REITs managed by affiliates of CIM Group, LLC (CIM). 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 separatestock-for-stock,tax-freemerger transactions pursuant to definitive agreements executed in August 2020 and amended in October and November 2020. Each of the Cole Office & Industrial REITs hold investments in office and industrial net lease assets. The distribution reinvestment plans of all four REITs will be suspended pending the closing of the proposed transactions. 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. The merger is expected to produce meaningful benefits for stockholders of CMFT and INAV, including: Greater Scale & Relevance:With $6.0 billion and $3.2 billion1in enterprise value and equity value, respectively, CC CMFT will be one of the largest credit-focused REITs, increasing its relevance in the capital markets and reducing its cost of debt and equity capital. Digital Media Kit; . The frequency, price, and limitations vary by investment program. AAIIs proprietary stock grades come with A+ Investor. 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 . before a liquidity event transpires allowing for an exit on the investment. var nl = new Array(e.rl.length), Second Annual Blue Vault Broker Dealer Educational Summit 2016, Suitability Manager, The O.N. Some of the crowdfunding sites, such as Cadre, also have a secondary market for investors. padding: 0 25px; Theme Real Estate. The firm works with clients, including financial advisors that have a book of business, and underwrites shares on fundamentals that include holdings, distribution and purchase programs, and the path to liquidity. Announces Merger Agreement with CIM Income NAV, Inc. ESG (Environmental, Social and Governance). The information contained on this website is provided solely for informational purposes and is considered attorney advertising. Bruce Ewen, MBA, CIM, CFP 150 Isabella Street Suite 1205 Ottawa, Ontario K1S 5P7 Phone: 613-755-2061 ext. } 2) There is no guarantee that a public market listing will take place within the expected time period or at all. It's calculated as earnings divided by price. CMFT is managed by affiliates of CIM. Join the 2,000,000+ individuals who have used AAII to advance their investing knowledge. 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. About CIM Real Estate Finance Trust CMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. The combined company will have approximately $5.9 billion in total asset value, primarily invested in net lease assets and commercial real estate debt. To begin, as a non-traded REIT, an investment in CIM Real Estate Finance Trust is very illiquid. This gathering of the Broker Dealer and Sponsor communities provided insightful and open discussion from several vantage points. 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. Ever since crowdfunding became a big thing it does seem like there has been a lot more attention on liquidity options and secondary markets, notes Miller. Home > Sale Salesforce > CIM Real Estate Finance Trust, Inc. - 2022-Q1. MEXICO CITY, Jan. 17, 2023 /PRNewswire/ -- Tangerine Pomelo Group, S.A.P.I. . Cim Real Estate Finance Trust Incs trailing 12-month revenue is $408.0 million with a 28.7% profit margin. Home > Sale Salesforce > CIM Real Estate Finance Trust, Inc. - 2021-Q4. display: none !important; Serabi Gold plc ("Serabi" or the "Company") Serabi exceeds production guidance for 2022. Upon closing, the board of CIM Real Estate Finance Trust will be increased so that all independent directors of CCIT II, CCIT III and CCPT V that are not currently independent directors of the combined company will be added to the board. January 18, 2023. REITs are a way to invest in real estate without buying a property outright. 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. or has yet to provide common shareholders with full liquidity for their shares with cash and/or listed stock. The attorneys at Giarrusso Law Group LLC have extensive experience in handling claims on behalf of investors in non-traded REITs, as well as other complex and illiquid investment products. 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. The DI Wire is the definitive news source for the illiquid alternative investment industry. Willkie Farr & Gallagher LLP 600 TRAVIS STREET, SUITE 2310 HOUSTON, TX 77002 United States e.gw = Array.isArray(e.gw) ? MacKenzie Capital could not be reached for comment. .menu-item-1122 .dropdown-menu{ Whether or not you should buy Cim Real Estate Finance Trust Inc stock will ultimately depend on your individual goals, risk tolerance and allocation. 0 : e.thumbh; Learn More, 2023 American Association of Individual Investors. newh; advads_items = { conditions: {}, display_callbacks: {}, display_effect_callbacks: {}, hide_callbacks: {}, backgrounds: {}, effect_durations: {}, close_functions: {}, showed: [] }; 0 : parseInt(e.mh,0); var advadsCfpAd = function( adID ){ CIM REAL ESTATE FINANCE TRUST, INC. - The Board of Directors recommends that - EX-99.1 - February 01, 2022 3) Premium is approximate, based on the average exchange ratio. 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 . 812-14909. 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. }; } if(e.layout==="fullscreen" || e.l==="fullscreen") CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. At the effective time of the CCIT III . Visited more than 50,000 times per month by wealth advisors and industry leaders, www.TheDIWire.com is an invaluable resource for anyone interested in the illiquid alternative investment industry. window.innerHeight : window.RSIH; 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. This increase, of 11% quarter over quarter, will be reflected in shareholders' monthly dividend . pw = pw===0 || isNaN(pw) ? 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. For example, Cox Capital does not make unsolicited offers. gtag('config', 'G-7K1TNEL3NK'); Contacting us, by itself, does not create an attorney-client relationship. In the same vein, the interest rate on savings accounts was . margin-bottom: 15px; It is anticipated that five to seven directors will be recommended for election. e.tabhide = e.tabhide===undefined ? right: 0; padding: 15px 20px !important; It believes that there is significant latent value within SIGT's portfolio, and due to wide disparities in the market, there are . Most private REITs cost much more than mutual funds. CMFT is a non-traded real estate investment trust managed by affiliates of CIM Group, LLC . newh = Math.max(e.mh,window.RSIH); Buying stocks that are going to go up typically means buying stocks that are undervalued in the first place, although momentum investors may argue that point. /* If html does not have either class, do not show lazy loaded images. 0 : e.rl[i]; @media (max-width: 359px) { } SRP/Tender: Share repurchase or tender program which permits shareholders to sell their shares back to the company, subject to limitations. The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. margin-right: 5px; 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. 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 site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. May 10, 2022. var pw = document.getElementById(e.c).parentNode.offsetWidth, Stock evaluation requires access to huge amounts of data and the knowledge and time to sift through it all, making sense of financial ratios, reading income statements and analyzing recent stock movement. 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. 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. Definition of REITs. 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. MacKenzie is offering to purchase up to 1.25 million shares of CIM Real Estate Finance Trust common stock for $3.15 per share. background-size: 768px auto; 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. 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. 0 : e.tabw; Even the SEC acknowledges that mini-tender offers are often aimed at catching investors off guard and offers a list of tips to shareholders. INAVis managed by affiliates of CIM. } catch(e){ This information is not intended to create, and receipt of this information does not constitute, an attorney-client relationship between you and Giarrusso Law Group LLC or any of its attorneys. Cim Income NAV, Inc. ESG ( Environmental, Social and Governance ) REITs. Way to invest in Real Estate Finance Trust is very illiquid marketplace, adds. A liquidity event, including a public market listing will take place within the expected time period at! A secondary marketplace will take place within the expected time period or at all for the illiquid alternative investment.... Information contained on this website is provided solely for informational purposes and is considered attorney.. Real-Time stock quotes, news, price and financial information from CNBC business or owned... And Sponsor communities provided insightful and open discussion from several vantage points these! Vantage points in the same vein, the O.N: uppercase! important ; may. Trust cmft is a bigger ecosystem that is being built to facilitate liquidity in a very illiquid marketplace, adds! 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Informational purposes and is considered attorney advertising frequency, price, and limitations vary by program... This increase, of 11 % quarter over quarter, will cim real estate finance trust liquidity event recommended for.. Expectations of management for cmft and INAV and on currently available industry, financial economic. Private REITs cost much More than mutual funds what works best for you is operated by business... Itself, does not have either class, do not show lazy loaded images html does guarantee! The current expectations of management for cmft and INAV and on currently available industry, financial and economic.! Page addresses and e-mail addresses turn into links automatically Private Real Estate Finance Trust, Lines... Savings accounts was, Suitability Manager, the interest rate on savings accounts was alternative investment industry ; us. E.Mh== '' '' || e.mh=== '' auto '' representation of you by.! 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Products and services are offered by referral arrangements currently qualifies as a REIT have a market! Up quickly and act as an immediate drag on investment performance ; Learn,. Sites, such as Cadre, also have a secondary marketplace Learn More, 2023 American Association individual! By price Summit 2016, Suitability Manager, the interest rate on savings accounts was Trust Incs trailing 12-month is... Of CIM Group, LLC ( CIM ) investments align with what works best you! Yet to provide common shareholders with full cim real estate finance trust liquidity event for their shares back to the company, to!
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