secwatch.observer — SEC 8-K summary
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Issuer:     CIM REAL ESTATE FINANCE TRUST, INC. (CMRF)
CIK:        0001498547
Form:       8-K
Filed at:   2022-06-02T23:59:59+00:00
Accession:  0001498547-22-000050
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CIM Real Estate Finance Trust completes sale of 80 properties for $1.28B to Necessity Retail REIT
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- Total consideration of $1.28B: $1.22B cash (incl. $23.5M earnout) and $53.4M in RTL common stock; one property closing expected Q2 2022.
- Debt repaid/assumed $843.2M; transaction costs $10.9M; net proceeds of $437.1M to redeploy into senior secured loans and credit leases.
- Sale of 79 shopping centers and two single-tenant properties (~9.5M sq ft across 27 states); first 44 properties closed Feb 2022.
- Pro forma net income for year ended Dec 2021 adjusted from $86.5M to $57.9M reflecting disposition.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1498547/000149854722000050/0001498547-22-000050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1498547/000149854722000050/cmft-20220526.htm
  HTML page:      https://secwatch.observer/filing/0001498547-22-000050

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