CIM Commercial Trust Names Charles Garner II CEO

(RTTNews) - CIM Commercial Trust Corp. (CMCT), a real estate investment trust, said its Board of Directors has approved CIM Group's recommended nominee, Charles Garner II, as Chief Executive Officer, effective August 20.

Garner is a Principal at CIM Group, the manager of CIM Commercial Trust Corp. He has 30 years of experience in the real estate industry and more than 11 years as a member on CIM's Investment and Asset Management Committees.

Garner is one of CIM Group's most senior principals with a leadership role in sourcing, acquiring, and managing investments for its varied investment platforms.

Further, CMCT also announced that it is exploring strategic alternatives for its lending business. The likely result will be the deconsolidation of the lending business, allowing the firm to increase its focus as an urban office REIT while independently expanding, diversifying and growing the lending business.