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Realty Income to Acquire Properties from CIM Real Estate Finance Trust, Inc. for $894 Million, 7.1% Cash Cap Rate
SAN DIEGO, Dec. 30, 2022 /PRNewswire/ — Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced that it has signed a definitive agreement to acquire up to 185 single-tenant retail and industrial properties from subsidiaries of CIM Real Estate Finance Trust, Inc. (CMFT), a non-listed REIT which is sponsored by an affiliate of CIM Group, for approximately $894 million in cash. The portfolio composition may vary based upon the completion of our due diligence and the potential exercise of rights of first refusal related to certain properties. The transaction is expected to close in the first quarter of 2023, subject to customary closing conditions, approvals and completion…
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Acorn Finance, LMN Team for Home Improvements
Landscape Management Network (LMN) and home improvement lender Acorn Finance have joined forces to launch a new funding tool for landscape contractors and their customers, the companies said in a Friday (April 8) announcement. LMN Lend Home Improvement Financing lets contractors who use LMN’s business management software offer their customers access to Acorn Finance’s marketplace for funding options up to $100,000, according to the announcement. “Consumers continue to invest in their properties,” said LMN CEO Mark Bradley in the announcement. “As a contractor, you want to be able to provide the best experience possible for your customers. Knowing you can now easily walk them through financing options as a part…
