1-202-739-9401 (fax). The tenant generally agrees that it will either have no ability or only limited ability to terminate the lease or abate rent prior to the expiration of the term of the lease as a result of real estate driven events such as casualty, condemnation or failure by the landlord to fulfill its obligations under the lease. Quarterly Report on Form 10-Q for further discussion of our operating segments. Values relevant asset sale of cim group targets than sufficient cash equivalents, all publicly traded reits the form of cim real estate finance trust redemption form. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. The Combined Companys greater size and improved portfolio diversification should provide it with greater access to debt and equity capital markets. Senior Loans 62.6%Net Lease Real Estate 31.7%Cash & Other Investments 5.7%, Commercial Real Estate Loans 71.2%Liquid Senior Secured 15.4%Commercial Mortgage-Backed Securities & Customer Relationship Summary and Disclosure. "same store" properties during the six months ended June 30, 2022 and 2021. CIM REAL ESTATE FINANCE TRUST, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) (Unaudited) The accompanying notes are an integral part of these condensed consolidated financial statements. CIM truly does still have an entrepreneurial spirit, despite having grown significantly in the past few years. CMCT is operated by affiliates of CIM Group, L.P., a vertically-integrated owner and operator of real assets with multi-disciplinary expertise and in-house research, acquisition, credit analysis, development, finance, leasing, and onsite property management capabilities. be impacted by current or future economic conditions associated with the The Merger is intended to qualify as a "reorganization" under, and within the meaning of, Section 368(a) of the Internal Revenue Code of 1986, as amended (the "Code"). Our Board authorized the following -, Cim Real Estate Finance Trust, Inc. : Entry into a Material Definitive Agreement, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K), Cim Real Estate Finance Trust, Inc. : Other Events, Financial Statements and Exhibits (form 8-K), CIM REAL ESTATE FINANCE TRUST, INC. Management's Discussion and Analysis of Financial Condition and Results periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the nine months ended connection with the disposition of the underlying properties during the six CMFT invests in senior secured loans and credit leases. Invested $1.3 billion in first mortgage loans and received principal repayments 2) Reflects total net asset value as of 9/30/22. September 30, 2022 and 2021 was $125.4 million and $97.5 million, respectively. CMFT invests in senior secured loans and credit. These statements are based on the current expectations of management for CMFT, CCIT III and CCPT V and on currently available industry, financial and economic data. through the CIM Income NAV Merger that closed in December 2021. Disposed of 112 properties and an outparcel of land for an aggregate sales CIM Real Estate Finance Trust, Inc. seeks to provide investors with access to the highest-quality retail real estate assets, providing current income, reduced portfolio volatility and potential for capital appreciation. General and administrative expenses remained generally consistent during the Cautionary Statement Regarding Forward-Looking Information. The merger was subject to the approval of INAV stockholders, who voted in favor of the transaction during a virtual special meeting of stockholders on December 14, 2021. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. amounts per share, payable to stockholders as of the record date for the SAN DIEGO, Sept. 3, 2019 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company, today announced that i. This material must be read in conjunction with a prospectus in order to understand fully all the implications and risks of an offering of securities to which it relates. The decrease in depreciation and amortization of $5.9 million during the three Cautionary Statement Regarding Forward-Looking Information. Based on portfolio information as of September 30, 2022. price of $1.55 billion. Pour en savoir plus sur notre utilisation de vos informations, veuillez consulter notre Politique relative la vie prive et notre Politique en matire de cookies. CMFTs senior loan portfolio totals $4.6 billion2. (2)Our distributions covered by cash flows from operating activities for the six fees, banking fees and transfer agency and board of directors costs. Expense Reimbursements to Related Parties. for the three months ended June 30, 2022, as compared to the same period in Net proceeds from the transaction, will be deployed into senior secured loans and other similar credit investments. 812-14909. Credit Facility and terminated the CIM Income NAV Credit Facility. Actual results may vary materially from those expressed or implied by the forward-looking statements, which are subject to a number of risks and uncertainties, many of which are out of CMFTs control, including, but not limited to, those associated with the risk that a public listing of securities or other liquidity opportunities may not be realized within an expected time period or at all; the availability of and access to the capital markets or other financing sources; the availability of suitable investment or disposition opportunities; the impact of the COVID-19 pandemic on the operations and financial condition of CMFT and the real estate industry in which it operates, including with respect to occupancy rates, rent deferrals and the financial condition of tenants; general financial and economic conditions, which may be affected by government responses to the COVID-19 pandemic; legislative and regulatory changes; and other factors, including those set forth in the section entitled "Risk Factors" in CMFTs most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission ("SEC"), and other reports filed by CMFT with the SEC, copies of which are available on the SECs website, www.sec.gov. (1)As of September 30, 2022, 100% of our loans by principal balance earned a We have substantial indebtedness, which may affect our ability to pay The transaction marks another step in CMFTs business plan execution and is anticipated to further position the REIT for a public market listing, which, subject to market conditions and the continued successful execution of its business plan, is targeted for 2022.1Following the merger, CMFT will be one of the largest credit-focused REITs with approximately $6.1 billion in enterprise value and in excess of $3.1 billion in equity value.2CMFT invests in credit leases and senior secured loans and believes that it will benefit from the greater scale, financial strength, and improved access to capital markets that this transaction brings. September 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 691,981 $ 470,121 $ 56,424 Announces Completion of Merger with CIM Income NAV, Inc. ESG (Environmental, Social and Governance). In its offer letter to shareholders, MacKenzie indicated that the REITs share redemption program is oversubscribed and did not redeem approximately 59 million of the shares submitted for redemption as of September 30, 2021. COVID-19 pandemic. on loans held-for-investment of $127.1 million. Share Redemption? All rights reserved. This virtual event features six 90-minute classes about the fundamentals of ESG in commercial real estate. In late December 2021, the REIT agreed to sell all of its shopping centers to American Finance Trust Inc. (Nasdaq: AFIN), a publicly traded REIT managed by AR Global, for approximately $1.32 billion. Cautionary Statement Regarding Forward-Looking InformationThis communication includes certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. . Karen Diehl (5,301) $ 59,009 $ 57,569 $ 1,440 $, 46,522 $ 53,263 $ (6,741). As a result of these relationships, the Company is dependent upon CR IV Advisors and its affiliates. Change of Transfer on Death. arise from dispositions. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution Shareholder Relations the offer or cim real estate finance trust redemption form and complex provisions. CMFT is managed by affiliates of CIM. We are subject to fluctuations in interest rates which could reduce our ability applicable month, for the periods indicated below: As of September 30, 2022, we had distributions payable of $13.3 million. CCO Group and CIM are not affiliated or associated with, is not endorsed by, does not endorse, and is not sponsored by or a sponsor of the tenants or of their products or services pictured or mentioned on this web site. fees, banking fees and transfer agency and board of directors costs. David de Haan, the Deputy Director of Ironbridge Gorge Museum Trust, took time out to . Explore CMCT Case Study Penn Field Lending Platform Since 1994, CIM has sought to create value in projects and positively impact the lives of. --------------------------------------------------------------------------------. We may not generate cash flows sufficient to pay our distributions to CMFT is a non-traded real estate investment trust ("REIT") managed by affiliates of CIM Group, LLC ("CIM"). Securities distributed by affiliate broker-dealer: CCO Capital, LLC, member: FINRA / SIPC, Information about CCO Capital, LLC can be found at FINRA's BrokerCheck, ESG (Environmental, Social and Governance). For 60 years, Nareit has led the U.S. REIT industry by ensuring its members best interests are promoted by providing unparalleled advocacy, investor outreach, continuing education and networking. United States. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. As of September 30, 2019, the company's loan portfolio consisted of nine loans with a net book value of $187 million. maximum facility size. 1-800-3-NAREIT as of June 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of repayments of $50,000. CMCT +2.60% + Free Alerts. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Except as required by law, none of CMFT, CCIT III or CCPT V undertakes any obligation to update or revise any forward-looking statement in this communication, whether to reflect new information, future events, changes in assumptions or circumstances or otherwise. Interest expense and other, net also includes amortization of deferred financing (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no Disposed of 130 properties and an outparcel of land, including the two The Credit segment is engaged primarily in acquiring and originating loans, either directly or through co-investments in joint ventures, related to real estate assets. Assignor and real estate. unsecured debt. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. During the six months ended June 30, 2022 and 2021, the Company did not acquire The purchase price will be paid in cash and the transaction is expected to close during the first quarter of 2023, subject to the completion of due diligence and the satisfaction of closing conditions. (www.creativemediacommunity.com). Application for Transfer for Required Minimum Distributions (RMD) Change of Address. Application for Transfer for Non-Custodial Accounts. CMFT is managed by affiliates of CIM. Comparison of the Three Months Ended September 30, 2022 and 2021. Comparison of the Six Months Ended June 30, 2022 and 2021. Year-over-year quarterly sales growth most recently was 21.3%. With the risk of recession a dominant theme for 2023, Nareits Ed Pierzak explains that a recession does not have to equate to negative property total returns.. Investors in CIM Real Estate Finance Trust, Inc. (CIM, or the Company) who invested on the advice of a financial advisor may be able to recover their losses through FINRA arbitration, if the recommendation to invest lacked a reasonable basis, or if the investor was otherwise misled into making the investment. This communication includes certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended. Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily me some much-needed insights into the publishing market. CIM Real Estate Finance Trust, Inc. is a non-exchange traded real estate investment trust (REIT). CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Data as of 9/30/22, dollar amounts and square footages for all properties are approximate and include the square feet of buildings that are on land subject to ground leases. floating rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. leases. the availability of origination and acquisition opportunities acceptable to us. months ended June 30, 2022, as compared to the same period in 2021. Weighted-average interest rate. September 30, 2021, partially offset by the acquisition of 115 properties The primary general and administrative expense items are legal and accounting Refer to Note 16 - primarily due to the increased number of loan investments entered into during Converted $68.2 million of preferred units into a CRE loan upon maturity. The decrease in depreciation and amortization of $19.1 million during the nine Unfunded loan commitments, 2,031 $ - $ 6,649 amounts per share, payable to stockholders as of the record date for the During the nine months ended September 30, 2022 and 2021, the Company did not ShareholderRelations@cimgroup.com, Media Relations Since 1994, CIM has sought to create value in projects and positively impact the lives of. Provisions do not affiliated transfer. CIM Real Estate Finance Trust, Inc., a publicly registered non-listed real estate investment trust (REIT), is reportedly "repositioning its portfolio into commercial mortgage loans" by selling a substantial portion of its shopping center assets, according to SEC filings. offset by an increase in redemptions of common stock of $19.7 million due to the Refer to Note 16 - Get CIM Real Estate Finance Trust Inc (CMRF:OTCPK) real-time stock quotes, news, price and financial information from CNBC. $274.4 million. The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. We are subject to risks associated with bankruptcies or insolvencies of our PHOENIX--CIM Real Estate Finance Trust, Inc. ("CMFT") announced today it has acquired CIM Income NAV, Inc. ("INAV") in a stock-for-stock, tax-free merger transaction pursuant to the definitive agreement executed in September 2021. We use certain defined terms throughout this Quarterly Report on Form 10-Q that Retail REITs Announce Financial Transactions in 2019. Data as of 6/30/22. Among CMCT's assets is Penn Field, a 1918 U.S. Army air base that was transformed into a creative office campus. View source version on businesswire.com: https://www.businesswire.com/news/home/20221230005217/en/, Media Contact Karen Diehl310.741.9097karen@diehlcommunications.com, Championing digital transformation in Southeast Asia, https://www.businesswire.com/news/home/20221230005217/en/. Cole Office & Industrial REIT (CCIT III), Inc. Cole Real Estate Income Strategy (Daily NAV), Inc. Cole Office & Industrial REIT (CCIT II), Inc. CIM Commercial Trust Corporation (CMCT), CIM Real Assets & Credit Fund (Form not required as there was no organizational action), Cole Office & Industrial REIT (CCIT II), Inc. (Form not required as there was no organizational action), Cole Real Estate Income Strategy (Daily NAV), Inc. (Form not required as there was no organizational action). stockholders or meet our debt service obligations. (2). PHOENIX, December 30, 2022--(BUSINESS WIRE)--CIM Real Estate Finance Trust, Inc. ("CMFT"), a leading commercial credit-focused real estate investment trust (REIT), announced today. About CIM Real Estate Finance Trust, Inc. CMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. leases expire on favorable terms or at all. The following table presents distributions and source of distributions for the Its segments include Credit and Real estate. National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). This resulted in a CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. (2)Net proceeds on the repurchase facilities, credit facilities and notes ESG (Environmental, Social and Governance). Stock-for-stock mergers result in a credit-focused REIT with $4.8 billion of total assets, greater diversification and operational efficiencies with the goal of creating near-, medium- and long-term value. Gain on Disposition of Real Estate and Condominium Developments, Net, Expense Reimbursements to Related Parties. Stockholders may participate in CMFT's redemption plan upon completion of the proposed merger transaction and reinstatement of the redemption plan by the CMFT Board of Directors or, if one or more mergers is not completed, upon the reinstatement of the redemption plan by the Board of Directors of CCIT II, CCIT III or CCPT V, as applicable. Creative Media & Community Trust Corporation ("CMCT") previously announced that it will redeem all outstanding shares of its Series L Preferred Stock in cash on January . developments, net. "Non-same store" properties, for purposes of the table below, includes About CIM Real Estate Finance Trust CMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. Our properties, intangible assets and other assets, as well as the property Find the latest CIM Real Estate Finance Trust, Inc. (CMRF) stock quote, history, news and other vital information to help you with your stock trading and investing. The board believes the offer price is significantly below the current and potential long-term value of the shares, and is an opportunistic attempt by MacKenzie to purchase your shares at a deeply discounted price, the letter stated. CIM Real Estate Finance Trust, Inc. seeks to provide investors with access to the highest-quality retail real estate assets, providing current income, reduced portfolio volatility and potential for capital appreciation. We are subject to risks associated with the incurrence of additional secured or User ID: Password: Establish a new User ID and Password. CMFT is managed by affiliates of CIM. Suite 1100 Interest expense and other, net also includes amortization of deferred financing Securities distributed by affiliate broker-dealer: CCO Capital, LLC, member: FINRA / SIPC, Information about CCO Capital, LLC can be found at FINRA's BrokerCheck. CIM Real Estate Finance Trust primarily owns and operates a portfolio of core commercial real estate assets consisting of net leased properties and a portfolio of commercial mortgage loans. (2)Maximum maturity date assumes all extension options are exercised by the Critical Accounting Policies and Significant Accounting Estimates, Allocation of Purchase Price of Real Estate Assets; and, Related-Party Transactions and Agreements. Actual results may vary materially from those expressed or implied by the forward-looking statements, which are subject to a number of risks and uncertainties, many of which are out of the control of the company, including, but not limited to, the ability of CMFT to achieve the expected cost synergies or to engage in any liquidity event or public offering; the availability of suitable investment or disposition opportunities; the impact of the COVID-19 pandemic on the operations and financial condition of CMFT and the real estate industries in which it operates, including with respect to occupancy rates, rent deferrals and the financial condition of its tenants; general financial and economic conditions, which may be affected by government responses to the COVID-19 pandemic; legislative and regulatory changes; and other factors, including those set forth in the section entitled Risk Factors in CMFTs most recent Annual Report on Form 10-K, as amended, and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (SEC), and other reports filed by CMFT with the SEC, copies of which are available on the SECs website,www.sec.gov. About CIM Real Estate Finance Trust CMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. Los Angeles (HQ) | Atlanta | Chicago | Dallas | London | New York| Orlando | Phoenix | Tokyo, For any media related inquiry, please click hereor contact:Karen Diehl at 310.741.9097 / karen@diehlcommunications.com, orBill Mendel at 212.397.1030 / bill@mendelcommunications.com. acquire any properties. Gain on Disposition of Real Estate and Condominium Developments, Net. CMFT is a non-traded real estate investment trust managed by affiliates of CIM Group, LLC . The primary general and administrative expense items are legal and accounting distribution for the succeeding quarter. Shareholders. File No. was primarily due to the disposition of 134 properties subsequent to to generate income on our credit investments. CMCT draws on CIM Group's decades of experience owning, operating and developing creative office and multifamily properties in dynamic markets across the United States. properties previously owned through the Consolidated Joint Venture, for an Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. About CIM Real Estate Finance Trust CMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. 2325 E. Camelback Road On December 29, 2022 (the "Effective Date"), certain subsidiaries (collectively, the "Seller") of CIM Real Estate Finance Trust, Inc. (the "Company") entered into an Agreement of Purchase and Sale (the "Purchase and Sale Agreement") with certain subsidiaries of Realty Income Corporation (NYSE: O) (the "Purchaser"), to sell to the Purchaser . Comparison of the Three Months Ended June 30, 2022 and 2021. Cons Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily Statements that describe future plans and objectives are also forward-looking statements. costs. 2021, was due to the Company's investment in NP JV Holdings, which was not CIMs diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. PHOENIX, December 30, 2022 -- ( BUSINESS WIRE )--CIM Real Estate Finance Trust, Inc. ("CMFT"), a leading commercial credit-focused real estate investment trust (REIT), announced. Agreement and Plan of Merger, dated as of August 30, 2020, by and among CIM Real Estate Finance Trust, Inc., Thor V Merger Sub, LLC and Cole Credit Property Trust V, Inc. (incorporated by reference to Exhibit 2.3 to CIM Real Estate Finance Trust, Inc.'s Current Report on Form 8-K filed with the SEC on August 31, 2020). MacKenzie is offering to purchase up to 1.25 million shares of CIM Real Estate Finance Trust common stock for $3.15 per share. (3)Net proceeds on the repurchase facilities, credit facilities and notes properties acquired or disposed of on or after January 1, 2021. The properties include 79 power, anchored, and grocery centers and two single-tenant properties. Application for Transfer for Custodial Accounts. We may be unable to renew leases, lease vacant space or re-lease space as The increase in management fees of $3.4 million during the six months ended June 30, 2022, as compared to the same period in 2021, was primarily due to $300.0 million, which includes a $100.0 million term loan facility and the any properties. aggregate sales price of $1.71 billion. aggregate gross sales price of $132,000. About CIM Real Estate Finance Trust CMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. CMCT is operated by affiliates of CIM Group, L.P., a vertically-integrated owner and operator of real assets with multi-disciplinary expertise and in-house research, acquisition, credit analysis, development, finance, leasing, and onsite property management capabilities. Security and Exchange Commission SEC Cim Real Estate Finance Trust, Inc. Form 10-Q stockholders or meet our debt service obligations. Unfunded loan commitments, 1,886 $ - $ 4,324 leases expire on favorable terms or at all. Except as required by law, CMFT does not undertake any obligation to update or revise any forward-looking statement in this communication, whether to reflect new information, future events, changes in assumptions or circumstances or otherwise. I would particularly like to thank Pedro Das Gupta, Peter Cheek, Neil McDonald, Bhavna Patel, David Snaddon, and Philip Powell. En cliquant sur Accepter tout, vous acceptez que Yahoo et nos partenaires traitent vos informations personnelles et utilisent des technologies telles que les cookies pour afficher des publicits et des contenus personnaliss, et des fins de mesure des publicits et des contenus, dtude des audiences et de dveloppement de produit. The increase in provision for credit losses of $9.0 million during the six After the sale, its portfolio will consist of 199 office, retail and industrial properties spanning 6.4M SF. We are subject to risks associated with bankruptcies or insolvencies of our ability to borrow up to $200.0 million in revolving loans under a revolving CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. All rights reserved. Our operating segments include credit and real estate. Copyright 2023 Surperformance. Statements can generally be identified as forward-looking because they include words such as believes, anticipates, expects, would, could, or words of similar meaning. The transaction is expected to close in the fourth quarter of 2021, subject to certain closing conditions, including the approval of the merger and certain other matters by INAV stockholders. We may be unable to successfully reposition our portfolio or list our shares on Master Repurchase Agreement dated June 4 2020 by and between CMFT. Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. The weighted average lease term of the portfolio subject to the sale is calculated as of February 15, 2023. default under our debt obligations. a national securities exchange in the timeframe we expect or at all. Entered into a new credit agreement that provides for borrowings of up to the availability of origination and acquisition opportunities acceptable to us. We have substantial indebtedness, which may affect our ability to pay The remaining net lease portfolio is primarily financed with a long-term, fixed rate asset-backed securitization. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no The Combined Company will provide several benefits for stockholders and will be well-positioned to navigate the post-COVID economic environment with enhanced financial and operational flexibility and efficiency, making the Combined Company more valuable, said Richard Ressler, Principal and Co-Founder of CIM Group. Overview. concentrations with respect to our investments and properties. The board of CIM Real Estate Finance Trust, a publicly registered non-traded real estate investment trust, has sent a letter to shareholders recommending that they reject an unsolicited mini-tender offer from MacKenzie Capital Management LP. . Segment Reporting to our condensed consolidated financial statements in this Our management team consists of principals and managing directors who bring expertise from a wide range of disciplines to support our work in communities. The following table shows the property statistics of our real estate assets as CIM Real Estate Finance Trust, Inc. Our continued compliance with debt covenants depends on many factors and could Invested $1.2 billion in first mortgage loans and received principal repayments These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. Cim Real Estate Finance Trust Inc does not have a meaningful P/E due to negative earnings over the last 12 trailing months. The following table presents distributions and source of distributions for the Following the merger, CIM Income NAV shareholders, based on their respective class of shares owned, received between 2.502 and 2.622 shares of CIM Real Estate Finance Trust common stock. Our records indicate that you currently have clients invested in one or more of the following CIM Group REITs: CIM Real Estate Finance Trust, Inc. ("CMFT"), Cole Office & Industrial REIT (CCIT II), Inc. ("CCIT II"), Cole Office & Industrial REIT (CCIT III), Inc. ("CCIT III") and Cole Credit Property Trust V, Inc. ("CCPT V"). Interest payments - fixed rate debt 3,537, Critical Accounting Policies and Significant Accounting Estimates, Allocation of Purchase Price of Real Estate Assets; and, Related-Party Transactions and Agreements. Cim Real Estate Finance Trust, Inc. : Entry into a Material Definitive Agreement, Regulati.. Cim Real Estate Finance Trust, Inc. : Other Events, Financial Statements and Exhibits (for.. CIM REAL ESTATE FINANCE TRUST, INC. Management's Discussion and Analysis of Financial .. Cim Real Estate Finance Trust, Inc. : Regulation FD Disclosure, Financial Statements and E.. Cim Real Estate Finance Trust, Inc. : Entry into a Material Definitive Agreement, Creation.. Cim Real Estate Finance Trust, Inc. : Entry into a Material Definitive Agreement, Terminat.. Cim Real Estate Finance Trust, Inc. : Submission of Matters to a Vote of Security Holders .. There are not analysts providing consensus . have the following meanings: Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through September 30, 2022. (1) Includes square feet of buildings on land parcels subject to ground Certain statements contained in this Annual Report on Form 10-K of CIM Real Estate Finance Trust, Inc., other than historical facts, may be considered forward-looking statements within the meaning of the federal securities laws, Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange . distribution for the succeeding quarter. Based on CMFTs and INAVs respective shares outstanding and related debt as of September 30, 2021. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. Our disciplined approach is applied to every decisionfrom project inception through realizationas we strive to work in the best interests of our stakeholders. Principal payments - fixed rate debt $ 36,647 $ 443, $ 36,204 $ - $ - Statements that describe future plans and objectives are also forward-looking statements. The DI Wire is the definitive news source for the illiquid alternative investment industry. The following table details the components of net operating income broken out have the following meanings: As of June 30, 2022, our loan portfolio consisted of 341 loans with a net book Transaction-related expenses remained generally consistent during the three Net income attributable to the Company of $128.2 million, or $0.29 per share. maximum facility size. developments, net. We may be affected by risks resulting from losses in excess of insured limits. 3 Table of Contents CIM REAL ESTATE FINANCE TRUST, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS concentrations with respect to our investments and properties. REITs invest in the majority of real estate property types, including offices, apartment buildings, warehouses, retail centers, medical facilities, data centers, cell towers, infrastructure and hotels. of Operations (form 10-Q). IR Resources. The combined CMFT, CCIT III and CCPT V (Combined Company) has approximately $4.8 billion in total asset value and a net asset value (NAV) of $2.6 billion, based upon the companies respective June 30, 2020 NAVs, creating a leading commercial real estate credit-focused REIT with scale, primarily invested in net lease assets and commercial real estate debt. LOS ANGELES--(BUSINESS WIRE)--CIM Real Estate Finance Trust, Inc. (CMFT), Cole Office & Industrial REIT (CCIT III), Inc. (CCIT III) and Cole Credit Property Trust V, Inc. (CCPT V) today announced that CMFT has acquired each of CCIT III and CCPT V in separate stock-for-stock, tax-free merger transactions pursuant to definitive agreements executed in August 2020 and amended in October and November 2020. Our operating segments include credit and real estate. Email Alerts Printed Materials RSS Feeds. Our team unites wide-ranging expertise, creative vision, and a hands-on approach with an emphasis on creating maximum value through each project. The REIT anticipates a public listing in 2022. CMFTs total portfolio consists of senior secured loans, credit leases and other investments. The following table reconciles net income, calculated in accordance with GAAP, The report and its 30-plus case studies feature REIT leadership and ESG innovation from a variety of sectors and serves as a tool to assess the scale and impact of the REIT industrys ESG commitments and initiatives. between same store and non-same store properties (in thousands): Gain on Investment in Unconsolidated Entities. Invested $74.8 million in corporate senior loans. Our Board authorized the following Nareit's members are REITs and other businesses throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses. CIMs diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. With strong operational performance and balance sheets, REITs are well-positioned to navigate economic and market uncertainty in 2023. The Financial Times library staff provided constant support and advice. The transaction is expected to close during the first quarter of 2022. For more information, visit www.cimgroup.com. to net operating income (in thousands): Gain on disposition of real estate and condominium value of $3.9 billion, and investments in real estate-related securities of CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. (2)Maximum maturity date assumes all extension options are exercised by the Actual results may vary materially from those expressed or implied by the forward-looking statements, which are subject to a number of risks and uncertainties, many of which are out of the control of such companies, including, but not limited to, those associated with the ability of the combined companies to achieve expected cost synergies or to engage in any liquidity event or public offering; the availability of suitable investment or disposition opportunities and access to debt and equity capital markets; the impact of the COVID-19 pandemic on the operations and financial condition the Combined Company and the real estate industries in which it operates, including with respect to occupancy rates, rent deferrals and the financial condition of its tenants; general financial and economic conditions, which may be affected by government responses to the COVID-19 pandemic; legislative and regulatory changes; and other factors, including those set forth in the section entitled Risk Factors in CMFTs, CCIT IIIs and CCPT Vs most recent Annual Reports on Form 10-K, as amended, and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (SEC), and other reports filed by CMFT, CCIT III and CCPT V with the SEC, copies of which are available on the SECs website, www.sec.gov. months ended June 30, 2022 include cash flows from operating activities in En cliquant sur Refuser tout, vous refusez tous les cookies non essentiels et technologies similaires, mais Yahoo continuera utiliser les cookies essentiels et des technologies similaires. CMFT invests in senior secured loans and credit. The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. Cim Real Estate Finance Trust Inc's trailing 12-month revenue is $408.0 million with a 28.7% profit margin. was primarily due to the disposition of 134 properties subsequent to a national securities exchange in the timeframe we expect or at all. We may not be able to maintain profitability. CIM Commercial is a real estate investment trust that primarily acquires, owns, and operates Class A and creative office assets in vibrant and improving metropolitan communities throughout the . The 185-property portfolio subject to the sale to Realty Income consists of non-core retail and industrial properties totaling 4.6 million square feet with a 9.3 year weighted average remaining lease term (WALT)1. Invested $55.3 million in corporate senior loans and received principal Paid down the $212.5 million outstanding balance under the CIM Income NAV payable for the nine months ended September 30, 2021 was $584.1 million. Subsequent Events (Details) . borrowers and tenants and from borrower or tenant defaults generally. KBS Real Estate Investment Trust II Redemption Request Form (7/19) Redemption Request Form This form may only be used to request redemption of Shares of common stock of KBS R eal Estate Investment Trust II (the "Company"). The pro forma combined company ("CC CMFT") would have approximately $6.0 billion in enterprise value and be one of the largest credit-focused REITs. We define segment beyond one such redemption date your real estate finance trust, redemptions are negotiated by seller parties. Statements that describe future plans and objectives are also forward-looking statements. of September 30, 2022 and 2021: (1) Includes square feet of buildings on land parcels subject to ground ?Program (Details) Subsequent Events. borrower; however, our CRE loans may be repaid prior to such date. invested in by the Company during the three months ended June 30, 2021. borrowers and tenants and from borrower or tenant defaults generally. The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. September 30, 2021, partially offset by the acquisition of 115 properties reinstatement of the share redemption program on April 1, 2021. "Additionally, this transaction increases our flexibility as we seek to capitalize on investment opportunities resulting from the current market environment.". 1-202-739-9400 Our properties, intangible assets and other assets, as well as the property June 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 674,677 $ 274,382 $ 54,547 Cim Real Estate Finance Trust, Inc. : Entry into a Material Definitive Agreement, Regulati.. Cim Real Estate Finance Trust, Inc. : Other Events, Financial Statements and Exhibits (for.. CIM REAL ESTATE FINANCE TRUST, INC. Management's Discussion and Analysis of Financial .. Cim Real Estate Finance Trust, Inc. : Regulation FD Disclosure, Financial Statements and E.. Cim Real Estate Finance Trust, Inc. : Entry into a Material Definitive Agreement, Creation.. Cim Real Estate Finance Trust, Inc. : Entry into a Material Definitive Agreement, Terminat.. Cim Real Estate Finance Trust, Inc. : Submission of Matters to a Vote of Security Holders .. January 12, 2023 - 8:00 am. Performance Details 1 year Return N/A 2 year return N/A 3 year return N/A 5 year return N/A 10 year return N/A Market Cap $1 M CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. We are subject to risks associated with the incurrence of additional secured or Net proceeds to be deployed into senior secured loans. Contact CIM Group Shareholder Relations 866.907.2653 Market-leading rankings and editorial commentary - see the top law firms & lawyers for Real estate investment trusts (REITs) in United States The Legal 500 > United States > United States > Real estate > Real estate investment trusts (REITs) We support and enhance communities through real estate and infrastructure projects that provide employment, goods and services to help communities thrive long-term. Subsequent to September 30, 2021, the REIT redeemed roughly 1.3 million shares at $7.20 per share, and of the remaining requests received during the three month ended September 30, 2021, 27.7 million shares went unfulfilled, MacKenzie said. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. This website is neither an offer to sell nor a solicitation of an offer to purchase any CCO Group program. CMFT is a non-traded real estate investment trust (REIT) managed by affiliates of CIM Group, LLC (CIM). excess of distributions from prior periods of $18.7 million. The increase in loss on extinguishment of debt of $14.8 million for the six Press Releases Events & Presentations. CMCT seeks to apply the expertise of CIM to the acquisition, development, and operation of top-tier multifamily properties situated in dynamic markets with similar business and employment . months ended September 30, 2022, as compared to the same period in 2021. months ended June 30, 2022, as compared to the same period in 2021, was The following table shows the carrying value of our portfolio by investment type unsecured debt. three months ended September 30, 2022, as compared to the same period in 2021. distributions and expose us to interest rate fluctuation risk and the risk of CIM Real Estate Finance Trust also announced that it had reached an agreement to sell all of its shopping centers to American Finance Trust Inc. for $ 1.3 billion. We believe the merger will result in significant benefits for stockholders, and in particular, the increased scale should make the company more attractive to investors as it prepares for a public market listing, said Richard Ressler, Principal and Co-Founder of CIM Group. Disposed of condominium units for an aggregate sales price of $24.2 million. CCO Group programs are only offered by means of a prospectus. The Board of Directors has declared a quarterly cash dividend of $0.34375 per share of CMCT's Series A Preferred Stock for the first quarter of 2023. default under our debt obligations. Share Redemption Program In accordance with the Company's share redemption program, the per share redemption price is based on a percentage of the most recent estimated per share NAV, with such percentage dependent upon the length of time a stockholder has held its shares. The following table reconciles net income, calculated in accordance with GAAP, Analyze up to 10 years of full 10K Annual Reports and Quarterly 10Q SEC filings for Cim Real Estate Finance Trust, Inc. (CMRF) using our online tools. PHOENIX, December 16, 2021 -CIM Real Estate Finance Trust, Inc. announced today it has acquired CIM Income NAV, Inc. in a stock-for-stock, tax-free merger transaction pursuant to the definitive agreement executed in September 2021. Neither the Securities and Exchange Commission nor any state securities regulator has passed on or endorsed the merits of this offering. The increase in gain on investment in unconsolidated entities of $1.3 million This contact form is not for media related inquiries. of Operations (form 10-Q). Shares of this non-traded real estate investment trust ( REIT), formerly known as Cole Credit Property Trust IV, were originally sold for $10 per share. Shareholder Relations These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. People are a lot more open and supportive than might be expected in this industry. CIM Real Estate Finance Trust, Inc. (formerly known as Cole Credit Property Trust IV, Inc.) (the "Company," "we," "our" or "us") is a non-exchange traded REIT formed as a Maryland corporation on July 27, 2010 that elected to be taxed and currently qualifies as a REIT for federal income tax purposes beginning with its taxable . CIM Real Estate Finance Trust recently completed its merger with affiliated non-traded REIT, CIM Income NAV Inc., creating a credit-focused REIT with approximately $6.1 billion in enterprise value and more than $3.1 billion in equity value. We are subject to competition from entities engaged in lending which may impact CIM Real Estate Finance Trust expects to use the proceeds to fund future secured loans. HOME; LOGIN; PREMIUM; FREE TRIAL; SEC FILINGS; STOCK SCREENERS. 2020 Cole Credit Property Trust V, Inc. Cole Office & Industrial REIT (CCIT III), Inc. Cole Real Estate Income Strategy (Daily NAV), Inc. CIM . Please call (866) 584-1381 with questions. Forgot your User ID? credit facility with a $30.0 million letter of credit subfacility. If you invested in CIM Real Estate Finance Trust, or Cole Credit . While the culture varies from team to team, overall it is a very collaborative and driven culture. Following the final close of the transaction, CMFTs net lease portfolio is expected to consist of 199 retail, office and industrial properties totaling 6.4 million square feet with 99.7% occupancy and a WALT of 11.5 years2. We may not generate cash flows sufficient to pay our distributions to as of September 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of Format. (www.creativemediacommunity.com). CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. We have no paid employees and are externally managed by CMFT Management and, with respect to investments in securities and certain other of our investments, our Investment Advisor, each of which is an affiliate of CIM, a community-focused real estate and infrastructure owner, operator, lender and developer. We could be subject to unexpected costs or unexpected liabilities that may Our core values of integrity, discipline and respect permeate the culture at CIM and guide theactions we take to implement our vision for each project in every community. CIM Real Estate Finance Trust Recommends Shareholders Reject Unsolicited Tender Offer, Click here to subscribe to our Daily News Updates, Bluerock Interval Fund Reports Record Quarterly and Year-End Returns, Surpasses $4 Billion in AUM, Greenbacker Buys Massachusetts Rooftop Solar Portfolio, Bluerock Raises Record $4 Billion of Investor Capital in 2022, MacKenzie Realty Capital Increases Quarterly Dividend Again, Cerity Completes Third RIA Acquisition in January, Adding $8.6 Billion in AUM. Quarterly Report on Form 10-Q for further discussion of our operating segments. Series A1 Prospectus and Supplements Series L Redemption Preferred Stock CUSIP Information Warrant CUSIP Information. The following table shows the carrying value of our portfolio by investment type Except as required by law, CMFT does not undertake any obligation to update or revise any forward-looking statement in this communication, whether to reflect new information, future events, changes in assumptions or circumstances or otherwise. Assets Owned and Operated (AOO) represents the aggregate assets owned and operated by CIM on behalf of partners (including where CIM contributes alongside for its own account) and co-investors, whether or not CIM has discretion, in each case without duplication. -, Cim Real Estate Finance Trust, Inc. : Entry into a Material Definitive Agreement, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K), Cim Real Estate Finance Trust, Inc. : Other Events, Financial Statements and Exhibits (form 8-K), CIM REAL ESTATE FINANCE TRUST, INC. Management's Discussion and Analysis of Financial Condition and Results Copyright 2023 Surperformance. The transactions were subject to the approval of the respective mergers and certain other matters by stockholders of CCIT III and CCPT V. Both CCIT III and CCPT V stockholders voted in favor of the respective mergers during virtual special meetings of stockholders held on December 17, 2020. Since then, the price of the REIT shares has decreased, reaching a net asset value (nav) of $7.77 as of December 31, 2019. arise from dispositions. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. securing our loans or other investments, may be subject to impairment charges. rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. We could be subject to unexpected costs or unexpected liabilities that may Trustee Certification of Investment Powers, CIM Real Assets & Credit Fund (CIM RACR) Subscription Agreement, CIM Real Assets & Credit Fund (CIM RACR) Systematic Investment Form, Hancock Park Corporate Income, Inc. (HPCI) Subscription Agreement, Securities distributed by affiliate broker-dealer: CCO Capital, LLC, member: FINRA / SIPC, Information about CCO Capital, LLC can be found at FINRA's BrokerCheck, ESG (Environmental, Social and Governance), CIM Real Estate Finance Trust, Inc. ("CMFT"), CIM Real Estate Finance Trust, Inc. (CMFT). We use certain defined terms throughout this Quarterly Report on Form 10-Q that --------------------------------------------------------------------------------. For more information, visit www.cimgroup.com. Financial Documents SEC Filings Tax Information. the six months ended June 30, 2022, as compared to the same period in 2021. The tender offer expires on March 7th. Segment Reporting to our condensed consolidated financial statements in this based on the recommendation from the valuation, compensation and affiliate transactions committee (the "valuation committee") comprised of the independent directors of cim real estate finance trust, inc. (the "company"), on march 25, 2020, the company's board of directors (the "board") unanimously approved and established an estimated per share aggregate gross sales price of $132,000. Since 1994, CIM has sought to create value in projects and positively impact the lives of. January 9, 2023 - 4:03 pm. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. Change of Distribution Election. The combined company after the Merger will retain the name CIM Real Estate Finance Trust, Inc. Carter Validus CIM Income NAV CIM Real Estate Finance Trust CNL. FL Brokers - A marca da excelncia no mercado imobilirio Watch on 0:00 / 2:53 Contact Us For any media related inquiry, please click here or contact: Karen Diehl at 310.741.9097 / karen@diehlcommunications.com, or The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. (1)As of June 30, 2022, 100% of our loans by principal balance earned a floating The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. (3)Table does not include our investment in the Unconsolidated Joint Venture, periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the six months ended June 30, CMCT is a leader in creative office, acquiring and developing properties catering to rapidly growing industries such as technology, media and entertainment. The offer price is 56.3 percent less than the REITs most recent net asset value per share of $7.20, as of March 31, 2021. We are subject to risks associated with tenant, geographic and industry 1) Real Estate Investments are shown at Purchase Price and loans are held at appraised value relative to TAV. karen@diehlcommunications.com, CIM Real Estate Finance Trust completes mergers with two net lease REITs results in credit-focused REIT w $4.8B total assets, Internet Explorer presents a security risk. It acquires first and second lien . 3) Loan to Value is shown at time of origination. Interest payments - fixed rate debt Nareits ESG JumpStart: Virtual Class Series. General and administrative expenses remained generally consistent during the To ensure the most secure and best overall experience on our website, we recommend the latest versions of. A total of 307 properties were acquired before January 1, 2021 and represent our increased equity from the issuance of common stock in connection with the CIM months ended September 30, 2022, as compared to the same period in 2021, distributions and expose us to interest rate fluctuation risk and the risk of "We believe the deployment of net sales proceeds will continue to advance our program to generate sustainable and increasing dividends for our shareholders through earnings growth," said Richard Ressler, Chairman of the Board of Directors, President and CEO of CMFT, and Principal and Co-Founder of CIM Group. Form Type: 10-K Annual Report Accession . months ended September 30, 2022, as compared to the same period in 2021, About CIM GroupCIM is a community-focused real estate and infrastructure owner, operator, lender and developer. OFS / OFS Capital Corp; SEC Filings; CIM REAL ESTATE FINANCE TRUST, INC. - - 40-APP/A - 40-APP/A - June 30, 2020; 40-APP/A 1 tm2023615d1_40appa.htm 40-APP/A . CMFT invests in senior secured loans and credit leases. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Contact a Shareholder Relations Representative at 1-866-907-2653. Our corporate offices are located across the United States and overseas. Invested $160.9 million in liquid senior loans and sold liquid senior loans for The curriculum will cover each aspect of ESGtopics include program planning, implementation and reporting, DEI initiatives, climate change and carbon accounting. an aggregate gross sales price of $35.6 million. Nareit members made a variety of financial announcements this year. The only media site dedicated exclusively to the coverage of non-traded REITs, business development companies, interval funds, closed-end funds, DSTs and the full range of private placement offerings, The DI Wire has grown to become the most trusted news source for the community of sponsors, broker-dealers and wealth advisors who provide these investment offerings to millions of American retail investors. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Any representation to the contrary is unlawful. months ended June 30, 2022, as compared to the same period in 2021, was Forgot your Password? The following table details the components of net operating income broken out DALLAS CMCT (NASDAQ: CMCT and TASE: CMCT-L) announced today that its Board of Directors has declared preferred stock dividends on its Series A, Series A1 and Series D Preferred Stock.. Series A Preferred Stock. 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