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An update from Chimera Investment ( (CIM) ) is now available.
Chimera Investment Corporation has signed a definitive agreement to acquire Palisades Group, a specialist in residential real estate credit, for $30 million with potential earn-outs up to $20 million based on financial targets. This acquisition, expected to close in late 2024, aims to expand Chimera’s residential credit reach and is anticipated to enhance earnings by 2025. The deal will diversify income streams, increase market presence, and add investment expertise, aligning interests with shareholders by potentially using common shares for earn-out payments.
Learn more about CIM stock on TipRanks’ Stock Analysis page.