Comrit Investments Acquires Stake in CIM Real Estate Finance Trust

Comrit expands its presence in real estate finance with a tender offer to purchase shares of CIM Real Estate Finance Trust.

September 13, 2024

The Tender Offer Details:

Comrit Investments 1, Limited Partnership recently completed a tender offer to acquire shares of CIM Real Estate Finance Trust, Inc. The investment firm has successfully bought around 557,207 shares of the Trust, further solidifying its stake in the company's common stock.

The tender offer was initiated as part of Comrit’s strategy to acquire up to 15.3 million shares of CIM Real Estate Finance Trust. Each share was purchased at a price of $2.43, as per the terms set out in the Offer to Purchase dated July 16, 2024, and its related Assignment Form. The offer has now been concluded with shareholders agreeing to sell a total of 557,207 shares to Comrit.

Following this acquisition, Comrit’s total ownership in CIM Real Estate Finance Trust stands at approximately 7.56 million shares. This increased position translates to around 1.7% of the total outstanding shares of the Trust. Comrit's growing interest in the Trust highlights its confidence in the performance and prospects of CIM Real Estate Finance Trust, which is focused on commercial real estate financing.

Implications for Shareholders and the Real Estate Market

This tender offer signifies Comrit’s active role in the real estate investment sector. By acquiring a substantial position in CIM Real Estate Finance Trust, Comrit seeks to leverage the Trust’s portfolio and market performance. For existing shareholders, the tender offer has provided an opportunity to liquidate shares at a specified price, allowing them to re-evaluate their investments based on the offer price and market conditions.

The completion of this transaction indicates Comrit’s strategic investment approach to strengthen its presence in real estate finance, aligning with its broader investment goals. As Comrit now holds a more significant share in the Trust, its influence in matters concerning the Trust’s governance and future strategic decisions may also see an increase.