360° images and video have become extremely popular formats for immersive displays, due in large part to the technical ease of content production. While many experiences use a single camera viewpoint, an increasing number of experiences use multiple camera locations. In such multi-view 360° media (MV360M) systems, a visual effect is required when the user transitions from one camera location to another. This effect can take several forms, such as a cut or an image-based warp, and the choice of effect may impact many aspects of the experience, including issues related to enjoyment and scene understanding. To investigate the effect of transition types on immersive MV360M experiences, a repeated-measures experiment was conducted with 31 participants. Wearing a head-mounted display, participants explored four static scenes, for which multiple 360° images and a reconstructed 3D model were available. Three transition types were examined: teleport, a linear move through a 3D model of the scene, and an image-based transition using a Möbius transformation. The metrics investigated included spatial awareness, users' movement profiles, transition preference and the subjective feeling of moving through the space. Results indicate that there was no significant difference between transition types in terms of spatial awareness, while significant differences were found for users' movement profiles, with participants taking 1.6 seconds longer to select their next location following a teleport transition. The model and Möbius transitions were significantly better in terms of creating the feeling of moving through the space. Preference was also significantly different, with model and teleport transitions being preferred over Möbius transitions. Our results indicate that trade-offs between transitions will require content creators to think carefully about what aspects they consider to be most important when producing MV360M experiences.