CIM Group, the real‑estate and credit platform that owns and operates the publicly traded hybrid mortgage REIT Chimera Investment Corporation (CIM), announced the sale of its 177,434‑square‑foot Best Buy Plaza shopping center in North Dallas. The property, which is fully leased to tenants including Best Buy, Dick’s Sporting Goods, Total Wine, Cavender’s, and Hyper Kidz, was acquired by CIM Group in 2016 and is now being sold to an undisclosed buyer; the sale price was not disclosed in the announcement.
The transaction is part of CIM Group’s broader portfolio‑management strategy. CIM’s Q4 2025 GAAP net income was $7 million, or $0.08 per diluted share, and its full‑year 2025 net income was $144 million, or $1.72 per diluted share. The REIT’s book value stood at $19.70 per share as of December 31, 2025, and it raised its first‑quarter 2026 common‑stock dividend to $0.45. These figures illustrate the scale of the company’s operations and the liquidity position that the sale is intended to strengthen.
By divesting Best Buy Plaza, CIM Group aims to free capital that can be redeployed into its evolving mortgage platform or used to bolster liquidity. The sale aligns with the company’s stated focus on its core mortgage‑related businesses and reflects a shift away from traditional retail real‑estate holdings toward higher‑margin credit and mortgage activities. The move also signals confidence in the company’s ability to generate cash from its credit platform, which has originated billions in commercial‑real‑estate loans.
The Dallas‑Fort Worth retail market has shown resilience in 2025, with positive net absorption and rising rental rates in some submarkets, but new construction continues to increase vacancy risk. Selling a fully leased center in this environment underscores CIM Group’s intent to streamline its asset mix and reduce exposure to the retail sector, which has faced broader headwinds such as e‑commerce growth and changing consumer habits.
CIM Group’s recent transaction history—selling Turtle Creek Village in May 2025 and acquiring a three‑building industrial portfolio in January 2026—demonstrates an active approach to portfolio optimization. The Best Buy Plaza sale is the first major real‑estate transaction reported for the company in the past month and represents a tangible shift in its asset mix, providing investors with a clearer view of the company’s strategic priorities and liquidity strategy.
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