CIM Real Estate Finance Trust, Inc. ("CMFT") was a public, non-listed real estate investment trust whose shares were not traded on a national securities exchange.
In June 2026, CMFT completed a transaction in which it acquired CIM Group, LLC's real assets management business and investment portfolio. Following the transaction, CMFT changed its legal name to CIM Group, Inc. and became part of a diversified real assets management platform.
Existing CMFT shareholders retained an ownership interest in the combined company. Investors who originally purchased CIM Real Estate Finance Trust shares may therefore still refer to their investment as CIM REIT, CMFT, or CIM Real Estate Finance Trust when reviewing account statements or exploring liquidity.
Because these legacy shares are not currently traded on a national securities exchange, shareholders seeking liquidity may need to evaluate transferability, available buyer demand, valuation considerations, ownership structure, and current company requirements.
The June 2026 transaction substantially changed the structure of the former CIM Real Estate Finance Trust.
CIM Group, LLC contributed its real assets management business and related investments to the combined company. In exchange, the former CIM owners received a majority ownership position, while existing CMFT shareholders retained an ownership interest in the combined company.
The combined company now operates as CIM Group, Inc., with businesses spanning real estate, credit, infrastructure, opportunity zones, and strategic opportunities.
Transaction materials also describe an intention to pursue a potential future listing on a national securities exchange or another liquidity event. The timing, structure, and outcome of any future liquidity event remain uncertain.
CIM Real Estate Finance Trust, Inc. (CMFT)
CIM Group, Inc.
Public, Non-Listed REIT
CMFT acquired CIM Group's real assets management business
Shares are not currently listed on a national securities exchange
Transferability, ownership structure, documentation, valuation, and market demand
Legacy CIM Real Estate Finance Trust shareholders may explore liquidity for a variety of reasons, including estate administration, inherited positions, retirement planning, portfolio reallocation, changing financial needs, or a desire to exit an illiquid investment.
The 2026 transaction changed the company structure, but it did not itself create a publicly traded market for existing shareholder interests.
Liquidity opportunities may therefore depend on current company procedures, ownership registration, transfer requirements, available secondary market demand, and the characteristics of the individual position.
Potentially. Certain legacy CIM Real Estate Finance Trust positions may be reviewed for a private secondary market transaction, subject to transferability, ownership requirements, available buyer demand, and current company procedures.
A private secondary market transaction is different from selling shares on a public stock exchange. There is generally no continuously quoted market price or guarantee that a buyer will be available for a particular position.
Investors who want to understand this process in greater detail can review AIL's guide to the non-traded REIT secondary market.
Before the 2026 transaction, CMFT's board established an estimated net asset value of $5.14 per share as of December 31, 2025. That historical NAV may provide a reference point, but it should not be assumed to represent a current secondary market sale price.
The acquisition of CIM Group's real assets management business materially changed the company from its former structure as a real estate-focused non-listed REIT into a diversified real assets management platform.
The combined company has stated an intention to pursue a potential future exchange listing or another liquidity event. Buyer expectations regarding the timing and probability of a future liquidity event may influence secondary market interest.
Current and anticipated distributions may affect investor demand and the value buyers assign to an illiquid position.
A potential transaction may require ownership verification, transfer documentation, account registration review, and compliance with applicable transfer procedures.
Secondary market pricing can vary based on buyer interest, position size, market conditions, expected holding period, and the circumstances of the individual transaction.
A recent account statement is often the most useful starting point when evaluating a legacy CIM Real Estate Finance Trust position.
The statement may help confirm the shareholder's registration, number of shares, account type, custodian, and how the investment is currently reflected following the 2026 transaction.
Additional documentation may be needed for positions held in trusts, estates, retirement accounts, entities, or inherited accounts.
Transfer documentation and other ownership records may also be required if a potential liquidity transaction moves forward.
Not every CIM or CMFT shareholder position will necessarily qualify for a private transaction.
Review eligibility can depend on the number of shares, ownership registration, transferability, available documentation, company requirements, secondary market demand, and the pricing expectations of both the shareholder and potential purchaser.
A confidential review helps determine whether a legacy CIM Real Estate Finance Trust position may qualify for further evaluation and whether a potential liquidity pathway may currently exist.
Secondary market interest depends on more than asset type. AIL evaluates each position based on investment structure, transferability, documentation, and current market conditions.
Ownership type, sponsor requirements, investment terms, and underlying asset characteristics all influence review.
Some positions may be subject to transfer restrictions, approval requirements, or limitations within governing documents.
Offering materials, account records, ownership documents, and sponsor information help determine whether review can proceed.
Potential liquidity depends on current buyer interest, asset category, pricing expectations, and transaction feasibility.
Every opportunity is reviewed individually. Our process is designed to provide clarity regarding transferability, marketability, and potential liquidity pathways before any transaction decisions are made.
Provide basic details regarding the investment position, ownership structure, and available documentation.
AIL evaluates the investment type, transfer restrictions, sponsor requirements, and available transfer pathways.
We determine whether a secondary market opportunity may exist based on current investor demand and transaction activity.
If a viable pathway exists, we discuss potential next steps, timing considerations, and transaction requirements.
Submit basic information for a confidential review. Opportunities are evaluated individually based on investment structure, available documentation, transferability, and potential market interest.
REQUEST A CONFIDENTIAL REVIEW