CIM Real Estate Finance Trust, Inc. said Monday it has acquired CIM Group, LLC’s real assets management business and portfolio of investments to form a combined company. Terms were not disclosed. In exchange for its contributed businesses, CIM Group, LLC received 67.5% voting and economic ownership of the combined company, which is now known as CIM Group, Inc.
The combined company will operate as a diversified owner, operator, lender, developer and real assets management platform, managing more than $30 billion of assets. Richard Ressler will continue to serve as CEO and chairman.
“For over 30 years at CIM Group, LLC, we have focused on building a diversified real assets platform capable of creating value across market cycles,” said Ressler. “This transaction represents the next evolution of that strategy. With CMFT and CIM Group, LLC’s platforms together, we are creating a real assets manager with greater scale, stronger alignment, enhanced resources, and a commitment to long-term value creation, while preserving continuity across our leadership team, investment professionals, and operations.”
Pictured: CIM Group’s Centennial Yards in Atlanta.
