CIM Real Estate Finance Trust acquires CIM Group LLC's real assets business
CIM Real Estate Finance Trust, Inc. completed an acquisition of CIM Group, LLC's real assets management business and investment portfolio on June 24, 2026. CIM Group Holdings received 907,376,073.663 newly issued Class A Limited Partnership Units and Special Voting Preferred Shares representing approximately 67.5% economic and voting ownership of the combined company in exchange for contributed interests in CIM Group Management, LLC and CIM Group Investments, LLC. The company changed its legal name to CIM Group, Inc., terminated its REIT status effective January 1, 2026, and committed to quarterly dividends of at least $0.06 per share for the first four quarters post-closing, $0.07 per share for the next four quarters, and $0.095 per share for the following four quarters.
Key facts
- CIM Group Holdings received 907,376,073.663 New OP Class A LP Units and 907,376,073.663 Special Voting Preferred Shares representing approximately 67.5% combined ownership
- Earnout provision allows CIM Group Holdings' ownership to increase by up to approximately 3.75% based on fee-related revenues achievement through December 31, 2028
- Company committed to quarterly dividends of at least $0.06 per Common Share for first four quarters, $0.07 for next four quarters, $0.095 for following four quarters
- Company to use commercially reasonable efforts to initiate listing process within 24 months and consummate listing within 5 years post-closing
- Company changed legal name from CIM Real Estate Finance Trust, Inc. to CIM Group, Inc.
- REIT election terminated effective January 1, 2026
- David Thompson appointed Chief Financial Officer, Principal Accounting Officer and Treasurer effective June 24, 2026
- Nathan D. DeBacker ceased serving as Chief Financial Officer effective June 24, 2026
- Tax Receivable Agreement provides for payment of 85% of certain tax benefits actually realized by company as result of exchanges or redemptions of Class A LP Units
Why it matters
The transaction internalizes management of CMFT's platform by combining it with CIM Group, LLC's real assets management business under common ownership and control, eliminating the prior external-manager structure and aligning shareholder and management interests within a single operating enterprise valued at over $30 billion in assets owned and operated.
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Derived from 8-K filed 2026-06-29. Not investment advice. View the source filing on SEC.gov →