CMFT to acquire CIM Income NAV in stock-for-stock merger; combined enterprise value ~$6B

CIM REAL ESTATE FINANCE TRUST, INC.

INAV stockholders to receive 2.508-2.622 CMFT shares per INAV share, representing ~10.6% premium.
Combined pro forma enterprise value ~$6.0B; equity value ~$3.2B.
Combined portfolio: 590 properties, 23.8M sq ft, 94.2% occupancy, 8.5yr avg lease term.
Expected to close Q4 2021, subject to INAV stockholder approval; CMFT intends public market listing in 2022.
Annualized G&A synergies of $2.8M and additional cash flow improvement of $2.5M from elimination of INAV stockholder servicing fees.

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