CMFT closes sale of 44 properties for $557M; remaining 37 expected Q1-Q2 2022

CIM REAL ESTATE FINANCE TRUST, INC.

Total consideration $557M: $530.3M cash (incl. $9.6M earnout) and $26.7M AFIN common stock, restricted.
Repaid $348.2M of debt and incurred $6.7M transaction costs from the initial closing.
Net proceeds to be redeployed into senior secured loans and credit leases per core strategy.
Remaining 37 properties (of 81 total under contract) expected to close in phases through early Q2 2022.
Pro forma financials reflect reduction in rental income and total assets post-disposition.

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