Investor Lawyers Blog
Investors in CIM Real Estate Finance Trust Inc. (referred to below as referred to below as “CIM REIT ”) may have FINRA arbitration claims, if their investment was recommended by a financial advisor who lacked a reasonable basis for the recommendation, or if the nature of the investment was misrepresented by the stockbroker or advisor.
CIM REIT, originally sold as Cole Credit Property Trust IV, originally sold shares to the public for $10 each. Since then, the price of the REIT shares has decreased, reaching an estimated net asset value (NAV) per share of $7.77 as of December 31, 2019 and declining even further at later dates.
Now, an Israel-based investment fund, has made a filing with the Securities and Exchange Commission (“SEC”) to launch an unsolicited tender offer to purchase shares of CIM REIT a publicly registered non-traded real estate investment trust. The fund previously made a filing with the SEC in April 2023 to launch an unsolicited tender offer. The previous offer included the purchase of up to 22 million shares of CIM Real Estate Finance Trust Inc. for $4.57 per share. The fund’s current offer is to purchase up to 22 million shares of common stock at a an even lower purchase price equal to $4.21 per share.