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Comrit Launches Tender Offer for Shares of CIM REIT

Comrit Launches Tender Offer for Shares of CIM REIT. Alternative investments, CIM Real Estate Finance Trust Inc, Comrit, investment, investor, loans, NAV, net asset value, net lease, real estate investment trust, REIT, shares, tender offer
Comrit Launches Tender Offer for Shares of CIM REIT. Alternative investments, CIM Real Estate Finance Trust Inc, Comrit, investment, investor, loans, NAV, net asset value, net lease, real estate investment trust, REIT, shares, tender offer

Comrit Investments 1 LP, a Tel Aviv-based investment fund, has made a filing with the SEC to launch an unsolicited tender offer to purchase shares of CIM Real Estate Finance Trust Inc., a publicly registered non-traded real estate investment trust.

As The DI Wire previously reported, Comrit made a filing with the SEC in April 2023 to launch an unsolicited tender offer. The previous offer included the purchase of up to 22 million shares of CIM Real Estate Finance Trust Inc. for $4.57 per share.

Comrit’s current offer is to purchase up to 22 million shares of common stock at a purchase price equal to $4.21 per share.

Comrit currently owns approximately 5.2 million shares of the CIM REIT’s common stock, or 1.2% of the common stock as of Aug. 4, 2023.

CIM REIT estimated its per share NAV at $6.57 as of Sept. 30, 2022, and recently sold on LODAS Markets for $4.20 per share.

CIM Real Estate Finance Trust primarily owns and operates a portfolio of core commercial real estate assets consisting of net leased properties and a portfolio of commercial mortgage loans. The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014.

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