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:   2023-03-28T23:59:59+00:00
Accession:  0001498547-23-000012
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CMFT sells 151 net-lease properties to Realty Income for $779M; remaining 34 expected Q2 2023
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- Closed sale of 151 of 185 single-tenant net-lease properties to Realty Income (NYSE: O) for $779M in cash; total deal consideration $894M.
- Repaid approximately $369.4M of debt and incurred $4.2M in transaction costs from proceeds.
- Net proceeds will be redeployed into senior secured loans and credit leases, consistent with CMFT's core credit-focused REIT strategy.
- Remaining 34 properties are expected to close in Q2 2023, but no assurance is given.
- Pro forma financials reflect reduced rental income and interest expense; net income would have been $111M vs $128M for nine months ended Sep 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1498547/000149854723000012/0001498547-23-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1498547/000149854723000012/cmft-20230322.htm
  HTML page:      https://secwatch.observer/filing/0001498547-23-000012

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