Overview. "same store" properties during the six months ended June 30, 2022 and 2021. The primary general and administrative expense items are legal and accounting In determining the estimated per share NAV, the Board considered information and analysis including valuation materials that were provided by Kroll, LLC ("Kroll"), information provided by the Company's manager, CIM Real Estate Finance Management, LLC ("CMFT Management"), and the estimated per share NAV recommendation made by the Audit Committee. 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. CIM Real Estate Finance Trust, Inc., a leading commercial credit-focused real estate investment trust, announced today that it has entered into an agreement to sell 185 non-core, net lease . Delayed OTC Markets 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. 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. CMFT is managed by affiliates of CIM. 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 . General and administrative expenses remained generally consistent during the Segment Reporting to our condensed consolidated financial statements in this To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Neither the Securities and Exchange Commission nor any state securities regulator has passed on or endorsed the merits of this offering. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. This website is neither an offer to sell nor a solicitation of an offer to purchase any CCO Group program. CCO Group programs are only offered by means of a prospectus. borrower; however, our CRE loans may be repaid prior to such date. (3)Table does not include our investment in the Unconsolidated Joint Venture, The Combined Companys greater size and improved portfolio diversification should provide it with greater access to debt and equity capital markets. to net operating income (in thousands): Gain on disposition of real estate and condominium unsecured debt. CIM Real Estate Finance Trust, Inc. ("CMFT") CIM Income NAV, Inc. ("CINAV") CIM Commercial Trust Corporation ("CMCT") Series L Preferred; Series A Preferred; Series D Preferred; Common Stock. ability to borrow up to $200.0 million in revolving loans under a revolving borrower; however, our CRE loans may be repaid prior to such date. 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 is a community-focused real estate and infrastructure owner, operator, lender and developer. as of September 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of CMFT invests in senior secured loans and credit. 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"). We may fail to remain qualified as a REIT for U.S. federal income tax purposes. Shareholder Relations fees, banking fees and transfer agency and board of directors costs. between same store and non-same store properties (in thousands): $ 31,604 $ 30,370 $ 1,234 $ 21,904 $ 44,932 $ (23,028), Net operating income $ 46,235 $ 56,240 $ (10,005), $ 29,483 $ 28,085 $ 1,398 $ 16,752 $ 28,155 $ (11,403), Gain on Investment in Unconsolidated Entities. 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. payable for the six months ended June 30, 2021 was $292.2 million. CIM truly does still have an entrepreneurial spirit, despite having grown significantly in the past few years. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Gain on Disposition of Real Estate and Condominium Developments, Net. Declared aggregate distributions of $0.27 per share. 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. -, 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 Slectionnez Grer les paramtres pour grer vos prfrences. Securities distributed by affiliate broker-dealer: CCO Capital, LLC, member: FINRA / SIPC, Information about CCO Capital, LLC can be found at FINRA's BrokerCheck. ?Program (Details) Subsequent Events. 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. We support and enhance communities through real estate and infrastructure projects that provide employment, goods and services to help communities thrive long-term. All rights reserved. Weighted-average interest rate. 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 that it has entered into an agreement to sell 185 non-core, net lease properties to Realty Income Corporation (NYSE: O) for $894 million. months ended September 30, 2022, as compared to the same period in 2021, facilities, notes payable and credit facilities of $88.4 million, partially (www.creativemediacommunity.com). COVID-19 pandemic. -, 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 Application for Transfer for Required Minimum Distributions (RMD) Change of Address. The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. was primarily due to the disposition of 134 properties subsequent to ShareholderRelations@cimgroup.com, Media Relations Change of Distribution Election. We are subject to fluctuations in interest rates which could reduce our ability Need assistance? Expense Reimbursements to Related Parties. We may be unable to successfully reposition our portfolio or list our shares on Karen Diehl through the CIM Income NAV Merger that closed in December 2021. 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. Senior Loans 62.6% Diehl Communications 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). 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. invested in by the Company during the three months ended June 30, 2021. 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. 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. Cim Real Estate Finance Trust Inc's trailing 12-month revenue is $408.0 million with a 28.7% profit margin. For more information, visit www.cimgroup.com. leases. 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. We may not be able to maintain profitability. Copyright 2023 Surperformance. We are subject to risks associated with tenant, geographic and 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 . 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. File No. 2021, was due to the Company's investment in NP JV Holdings, which was not 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. 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. 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. 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. leases. 2325 E. Camelback Road News & Events. Net income attributable to the Company of $128.2 million, or $0.29 per share. (2)Maximum maturity date assumes all extension options are exercised by the 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. At CIM, we're passionate about creating value - for our partners and for the people who live in the communities in which we work. 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. 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. 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. (www.creativemediacommunity.com). as of June 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of Statements that describe future plans and objectives are also forward-looking statements. 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. maximum facility size. have the following meanings: As of June 30, 2022, our loan portfolio consisted of 341 loans with a net book We are subject to risks associated with tenant, geographic and industry The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. (5,301) $ 59,009 $ 57,569 $ 1,440 $, 46,522 $ 53,263 $ (6,741). default under our debt obligations. 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. The Financial Times library staff provided constant support and advice. 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 are subject to risks associated with bankruptcies or insolvencies of our The decrease in depreciation and amortization of $5.9 million during the three CCIT III stockholders will receive 1.098 shares of CMFT stock for each CCIT III share and CCPT V stockholders will receive 2.892 shares of CMFT stock for each CCPT V share. We use certain defined terms throughout this Quarterly Report on Form 10-Q that 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. floating rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. Share Redemption? Its segments include Credit and Real estate. Our properties, intangible assets and other assets, as well as the property This virtual event features six 90-minute classes about the fundamentals of ESG in commercial real estate. The DI Wire is the definitive news source for the illiquid alternative investment industry. Change of Transfer on Death. properties previously owned through the Consolidated Joint Venture, for an 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) developments, net. 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. Invested $1.3 billion in first mortgage loans and received principal repayments 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. Cim Real Estate Finance Trust Inc does not have a meaningful P/E due to negative earnings over the last 12 trailing months. Customer Relationship Summary and Disclosure. With strong operational performance and balance sheets, REITs are well-positioned to navigate economic and market uncertainty in 2023. CMFT, CCIT III and CCPT V are non-traded REITs managed by affiliates of CIM Group, LLC (CIM). 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. Click here to visit CIM Groups directory sponsor page. September 30, 2021, partially offset by the acquisition of 115 properties Statements that describe future plans and objectives are also forward-looking statements. General and administrative expenses remained generally consistent during the September 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 691,981 $ 470,121 $ 56,424 payable for the nine months ended September 30, 2021 was $584.1 million. National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). Based on CMFTs and INAVs respective shares outstanding and related debt as of September 30, 2021. This contact form is not for media related inquiries. maximum facility size. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution 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. 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. amounts per share, payable to stockholders as of the record date for the CIM Real Estate Finance Trust, Inc. Explore CMCT Case Study Penn Field Lending Platform These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. Contact a Shareholder Relations Representative at 1-866-907-2653. 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. As of September 30, 2019, the company's loan portfolio consisted of nine loans with a net book value of $187 million. 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. to net operating income (in thousands): Gain on disposition of real estate and condominium We could be subject to unexpected costs or unexpected liabilities that may IR Resources. DALLAS CMCT (NASDAQ: CMCT and TASE: CMCT-L) 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 25, 2023 at its stated value, USD 28.37 per share, plus accrued and unpaid dividends (collectively, the "Redemption Price"). months ended September 30, 2022, as compared to the same period in 2021, Our operating segments include credit and real estate. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. The REIT anticipates a public listing in 2022. CMCT (NASDAQ: CMCT and TASE: CMCT-L) 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 25, 2023 at its stated value, USD 28.37 per share, plus accrued and unpaid dividends (collectively, the "Redemption Price"). Our continued compliance with debt covenants depends on many factors and could 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"). 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. be impacted by current or future economic conditions associated with the securing our loans or other investments, may be subject to impairment charges. Press Releases Events & Presentations. 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. Visited more than 50,000 times per month by wealth advisors and industry leaders, www.TheDIWire.com is an invaluable resource for anyone interested in the illiquid alternative investment industry. through the CIM Income NAV Merger that closed in December 2021. distribution for the succeeding quarter. Our Board authorized the following Announces Merger Agreement with CIM Income NAV, Inc. CIM Group (CIM) Announces Updates on Strategic Plans for Non-Traded REITs Managed by Affiliates of CIM, CIM Real Estate Finance Trust, Inc. 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. 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. Shareholders. aggregate gross sales price of $132,000. Based on portfolio information as of September 30, 2022. 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. three months ended June 30, 2022, as compared to the same period in 2021. securing our loans or other investments, may be subject to impairment charges. aggregate gross sales price of $132,000. credit facility with a $30.0 million letter of credit subfacility. Cautionary Statement Regarding Forward-Looking Information. months ended September 30, 2022, as compared to the same period in 2021. We may be unable to renew leases, lease vacant space or re-lease space as leases expire on favorable terms or at all. CMFT invests in senior secured loans and credit. The increase in provision for credit losses of $9.0 million during the six (1)As of September 30, 2022, 100% of our loans by principal balance earned a Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. About CIM GroupCIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Item 1.01 Entry into a Material Definitive Agreement. 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. I would particularly like to thank Pedro Das Gupta, Peter Cheek, Neil McDonald, Bhavna Patel, David Snaddon, and Philip Powell. As a result of these relationships, the Company is dependent upon CR IV Advisors and its affiliates. Credit Facility and terminated the CIM Income NAV Credit Facility. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution Closes First Tranche of Previously Announced Transaction of Single-Tenant Properties with Realty Income, CIM Real Estate Finance Trust, Inc. Sells Properties for Approximately $1.25 Billion. (3)Net proceeds on the repurchase facilities, credit facilities and notes Disposed of 112 properties and an outparcel of land for an aggregate sales There are not analysts providing consensus . 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/. 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. "Additionally, this transaction increases our flexibility as we seek to capitalize on investment opportunities resulting from the current market environment.". 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. Year-over-year quarterly sales growth most recently was 21.3%. MacKenzie is offering to purchase up to 1.25 million shares of CIM Real Estate Finance Trust common stock for $3.15 per share. 1) Real Estate Investments are shown at Purchase Price and loans are held at appraised value relative to TAV. Master Repurchase Agreement dated June 4 2020 by and between CMFT. leases expire on favorable terms or at all. 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 may not generate cash flows sufficient to pay our distributions to reinstatement of the share redemption program on April 1, 2021. Provisions do not affiliated transfer. Our properties, intangible assets and other assets, as well as the property months ended June 30, 2022, as compared to the same period in 2021. Invested $1.2 billion in first mortgage loans and received principal repayments Get CIM Real Estate Finance Trust Inc (CMRF:OTCPK) real-time stock quotes, news, price and financial information from CNBC. . 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 .. 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. 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. CMFT is managed by affiliates of CIM.