Announced
Completed
Financials
Tags
Single Bidder
Real Estate Holding and Development
Acquisition
United States
Friendly
Domestic
Majority
Real Estate
Private
commercial real estate
Completed
Synopsis
The Necessity Retail REIT, a real estate investment trust, completed the acquisition of 81 multi-tenant retail property portfolio from CIM Real Estate, a community-focused real estate and infrastructure owner, operator, lender and developer, for $1.3bn. "This immediately accretive off-market transaction represents a unique value creation opportunity. We are adding significant scale while further enhancing our best-in-class portfolio with pandemic-tested assets on accretive terms," Michael Weil, The Necessity Retail REIT CEO.
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