CIM Real Estate Finance Trust Closes Merger with CIM Income NAV.

MANews-(C)2009-2021

US-based CIM Real Estate Finance Trust, Inc has acquired CIM Income NAV, Inc. in a stock-for-stock, tax-free merger transaction pursuant to the definitive agreement executed in September 2021, the company said.

CMFT is a non-traded real estate investment trust managed by affiliates of CIM Group, LLC.

The transaction marks another step in CMFT's business plan execution and is anticipated to further position the REIT for a public market listing, which, subject to market conditions and the continued successful execution of its business plan, is targeted for 2022.

Following the merger, CMFT will be one of the largest credit-focused REITs with approximately USD 6.1bn in enterprise value and in excess of USD 3.1bn in equity value.

CMFT invests in credit leases and senior secured loans and believes that it will benefit from the greater scale, financial strength, and improved access to capital markets that this...

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