CAPRE’s Commercial Real Estate Headlines for September 5, 2019

Check out the latest deals and developments in commercial real estate for September 5, 2019: CIM Real Estate Finance Trust, Inc. Sells Properties for Approximately $1.25 Billion USD: Certain subsidiaries of CIM Real Estate Finance Trust, Inc. (“CMFT”), a publicly registered non-listed real estate investment trust (“REIT”) that primarily owns and operates a diversified portfolio of core commercial real estate assets consisting of net leased properties, have entered into an approximately $1.25 billion purchase and sale agreement to sell 454 single-tenant properties to Realty Income Corporation (“Realty Income,” NYSE: O). The purchase price will be paid mainly in cash, subject to Realty Income’s option to seek the assumption of certain existing debt, of which it currently anticipates to assume $131 million USD. The 454 single-tenant properties involved in the acquisition by Realty Income are 100% leased and encompass approximately 5.1 million gross rentable square feet across 41 states. Notable tenants include Dollar General, Walgreens, Dollar Tree/Family Dollar and United Oil. Silverman Group Sells Rockaway Industrial Asset to Davco Group: NJ Bizis first reporting that Cushman & Wakefield has facilitated the sale of a multi-tenant industrial asset located at 114 Beach St. in Rockaway on behalf of the Silverman Group. Sholom Davidowits of Davco Group, a New York-based real estate investment company, purchased the more than 10-acre, 170,000 square feet, six-building complex. "114 Beach St. is located less than one mile from Interstate 80 and Route 46 in the heart of…