CMFT sells 81 retail properties to AFIN for $1.32B; expects Q1 2022 close

CIM REAL ESTATE FINANCE TRUST, INC.

Total consideration up to $1.32B: $1.27B cash + $53.4M AFIN stock + earnout based on lease performance.
Properties sold: 79 shopping centers and 2 single-tenant retail assets with 5.0-year WALT.
$40M non-refundable deposit due within two business days; closing expected in Q1 2022.
Proceeds to repay debt and redeploy into senior secured loans and credit leases.
Post-sale, CMFT credit lease portfolio: 114 concepts, 13.2M sq ft, 98.4% leased across 45 states.

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