CIM Group buys Cole Capital

VEREIT has sold Cole Capital to an affiliate of CIM Group in a cash-and-fees deal worth up to $200 million.

Currently, Cole has more than $7.6 billion in assets under management and manages five public non-listed real estate investment trusts: Cole Credit Property Trust IV, Cole Credit Property Trust V, Cole Real Estate Income Strategy, Cole Office & Industrial REIT, and Cole Office & Industrial REIT.