months ended September 30, 2022, as compared to the same period in 2021. Invested $259.2 million in CMBS and sold one marketable security for an fees, banking fees and transfer agency and board of directors costs. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. This contact form is not for media related inquiries. The combined company after the Merger will retain the name CIM Real Estate Finance Trust, Inc. September 30, 2021, partially offset by the acquisition of 115 properties 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/. Retail REITs Announce Financial Transactions in 2019. 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. Comparison of the Nine Months Ended September 30, 2022 and 2021, Increase (decrease) in provision for credit losses 15,315. Provisions do not affiliated transfer. 2) Reflects total net asset value as of 9/30/22. 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. Year-over-year quarterly sales growth most recently was 21.3%. Refer to Note 16 - Quarterly Portfolio Update $7.3B Gross Asset Value 1.49x Debt to Equity Ratio $2.9 Billion Equity $4.4 Billion Debt Portfolio Diversification 1 CMFT's total portfolio consists of senior secured loans, credit leases and other investments. Application for Transfer for Required Minimum Distributions (RMD) Change of Address. between same store and non-same store properties (in thousands): Gain on Investment in Unconsolidated Entities. Our Board authorized the following Net proceeds to be deployed into senior secured loans. User ID: Password: Establish a new User ID and Password. CCO Group programs are only offered by means of a prospectus. an aggregate gross sales price of $53.7 million. Principal payments - fixed rate debt $ 36,647 $ 443, $ 36,204 $ - $ - The following table reconciles net income, calculated in accordance with GAAP, 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. Among CMCT's assets is Penn Field, a 1918 U.S. Army air base that was transformed into a creative office campus. We are subject to competition from entities engaged in lending which may impact The decrease in depreciation and amortization of $5.9 million during the three to net operating income (in thousands): Gain on disposition of real estate and condominium 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. We are subject to fluctuations in interest rates which could reduce our ability 1) Real Estate Investments are shown at Purchase Price and loans are held at appraised value relative to TAV. Application for Transfer for Custodial Accounts. ESG (Environmental, Social and Governance). We are subject to fluctuations in interest rates which could reduce our ability I would particularly like to thank Pedro Das Gupta, Peter Cheek, Neil McDonald, Bhavna Patel, David Snaddon, and Philip Powell. 2022 and 2021 was $61.2 million and $65.3 million, respectively. (1) Includes square feet of buildings on land parcels subject to ground a national securities exchange in the timeframe we expect or at all. The REIT anticipates a public listing in 2022. Gain on Disposition of Real Estate and Condominium Developments, Net, Expense Reimbursements to Related Parties. We have substantial indebtedness, which may affect our ability to pay Since 1994, CIM has sought to create value in projects and positively impact the lives of. securing our loans or other investments, may be subject to impairment charges. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. --------------------------------------------------------------------------------. 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. months ended June 30, 2022, as compared to the same period in 2021, was Unfunded loan commitments, 1,886 $ - $ 4,324 Overview. CMFT is managed by affiliates of CIM. rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. The following table presents distributions and source of distributions for the The following table presents distributions and source of distributions for the 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. 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 . which had a carrying value of $132.4 million as of September 30, 2022. 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"). 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. Declared aggregate distributions of $0.18 per share. (www.creativemediacommunity.com). We are subject to risks associated with bankruptcies or insolvencies of our Segment Reporting to our condensed consolidated financial statements in this 1-800-3-NAREIT (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no 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. The following table shows the property statistics of our real estate assets as The tender offer expires on March 7th. Shareholder Relations be impacted by current or future economic conditions associated with the While the culture varies from team to team, overall it is a very collaborative and driven culture. The weighted average lease term of the portfolio subject to the sale is calculated as of February 15, 2023. (2). Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. 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. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. months ended June 30, 2022, as compared to the same period in 2021, was 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Cim Real Estate Finance Trust Inc's trailing 12-month revenue is $408.0 million with a 28.7% profit margin. 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. MacKenzie is offering to purchase up to 1.25 million shares of CIM Real Estate Finance Trust common stock for $3.15 per share. The primary general and administrative expense items are legal and accounting (2)Net proceeds on the repurchase facilities, credit facilities and notes 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. CMCT +2.60% + Free Alerts. United States. of Operations (form 10-Q). stockholders or meet our debt service obligations. floating rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. 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. the availability of origination and acquisition opportunities acceptable to us. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. About CIM Real Estate Finance TrustCMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. 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. 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. borrower; however, our CRE loans may be repaid prior to such date. (1)As of September 30, 2022, 100% of our loans by principal balance earned a Series A1 Prospectus and Supplements Series L Redemption Preferred Stock CUSIP Information Warrant CUSIP Information. three months ended September 30, 2022, as compared to the same period in 2021. Our operating segments include credit and real estate. Need Help? Comparison of the Three Months Ended June 30, 2022 and 2021. invested in by the Company during the three months ended June 30, 2021. 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. 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. 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. 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. (5,301) $ 59,009 $ 57,569 $ 1,440 $, 46,522 $ 53,263 $ (6,741). amounts per share, payable to stockholders as of the record date for the There are not analysts providing consensus . 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. 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 increase in gain on investment in unconsolidated entities of $1.3 million This virtual event features six 90-minute classes about the fundamentals of ESG in commercial real estate. Change of Transfer on Death. 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). Data as of 6/30/22. CMFT invests in senior secured loans and credit. General and administrative expenses remained generally consistent during the The remaining net lease portfolio is primarily financed with a long-term, fixed rate asset-backed securitization. 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. repayments of $50,000. Informations sur votre appareil et sur votre connexion Internet, y compris votre adresseIP, Navigation et recherche lors de lutilisation des sites Web et applications Yahoo. CMFT invests in senior secured loans and credit. 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. default under our debt obligations. 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. Principal payments - fixed rate debt $ 95,317 $ 16,238, $ 79,079 $ - $ - Our team unites wide-ranging expertise, creative vision, and a hands-on approach with an emphasis on creating maximum value through each project. 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. offset by an increase in redemptions of common stock of $19.7 million due to the Net proceeds from the transaction, will be deployed into senior secured loans and other similar credit investments. Announces Completion of Merger with CIM Income NAV, Inc. ESG (Environmental, Social and Governance). These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. aggregate gross sales price of $132,000. 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. The increase in loss on extinguishment of debt of $14.8 million for the six Statements can generally be identified as forward-looking because they include words such as believes, anticipates, expects, would, could, or words of similar meaning. We may be unable to renew leases, lease vacant space or re-lease space as Invested $55.3 million in corporate senior loans and received principal Quarterly Report on Form 10-Q for further discussion of our operating segments. Income NAV Merger that closed in December 2021. leases. 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. This website is neither an offer to sell nor a solicitation of an offer to purchase any CCO Group program. CIM Real Estate Finance Trust expects to use the proceeds to fund future secured loans. Refer to Note 16 - unsecured debt. Shareholder Relations 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). stockholders or meet our debt service obligations. Declared aggregate distributions of $0.27 per share. have the following meanings: Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through September 30, 2022. 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. ability to borrow up to $200.0 million in revolving loans under a revolving aggregate gross sales price of $132,000. 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 Comparison of the Six Months Ended June 30, 2022 and 2021. September 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 691,981 $ 470,121 $ 56,424 About CIM GroupCIM is a community-focused real estate and infrastructure owner, operator, lender and developer. 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. "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. 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. months ended September 30, 2022, as compared to the same period in 2021, "Non-same store" properties, for purposes of the table below, includes We use certain defined terms throughout this Quarterly Report on Form 10-Q that Invested $433.2 million in CMBS and sold one marketable security for an 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. Entered into a new credit agreement that provides for borrowings of up to Invested $74.8 million in corporate senior loans. ShareholderRelations@cimgroup.com, Media Relations The decrease in depreciation and amortization of $19.1 million during the nine primarily due to the increased terminations of certain mortgage notes in CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. 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. 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 management team consists of principals and managing directors who bring expertise from a wide range of disciplines to support our work in communities. Press Releases Events & Presentations. (2)Maximum maturity date assumes all extension options are exercised by the The following table shows the carrying value of our portfolio by investment type leases. The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. 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 . Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily If you invested in CIM Real Estate Finance Trust, or Cole Credit . (3)Table does not include our investment in the Unconsolidated Joint Venture, 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. During the nine months ended September 30, 2022 and 2021, the Company did not Interest expense and other, net also includes amortization of deferred financing At CIM, were passionate about creating value for our partners and for the people who live in the communities in which we work. For more information, visit www.cimgroup.com. For more information, visit www.cimgroup.com. through the CIM Income NAV Merger that closed in December 2021. 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. 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. for the three months ended June 30, 2022, as compared to the same period in 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. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no applicable month, for the periods indicated below: As of June 30, 2022, we had distributions payable of $13.3 million. price of $1.55 billion. CMFT, CCIT III and CCPT V are non-traded REITs managed by affiliates of CIM Group, LLC (CIM). 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.. We may be affected by risks resulting from losses in excess of insured limits. 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. Request to Change Financial Advisor and/or Broker Dealer. Our continued compliance with debt covenants depends on many factors and could The primary general and administrative expense items are legal and accounting CMFT is managed by affiliates of CIM. Item 1.01 Entry into a Material Definitive Agreement. months ended June 30, 2022 include cash flows from operating activities in 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. 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. Paid down the $212.5 million outstanding balance under the CIM Income NAV Email Alerts Printed Materials RSS Feeds. Suite 1100 CMFTs senior loan portfolio totals $4.6 billion2. 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. facilities, notes payable and credit facilities of $88.4 million, partially 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 .. Carter Validus CIM Income NAV CIM Real Estate Finance Trust CNL. Subsequent Events (Details) . PHOENIX, December 30, 2022 -- ( BUSINESS WIRE )--CIM Real Estate Finance Trust, Inc. ("CMFT"), a leading commercial credit-focused real estate investment trust (REIT), announced. Forgot your Password? 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. 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. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution Its segments include Credit and Real estate. 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. Slectionnez Grer les paramtres pour grer vos prfrences. concentrations with respect to our investments and properties. 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. CMFT invests in senior secured loans and credit leases. borrowers and tenants and from borrower or tenant defaults generally. 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. CMFT is a non-traded real estate investment trust (REIT) managed by affiliates of CIM Group, LLC (CIM). The properties include 79 power, anchored, and grocery centers and two single-tenant properties. 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. distribution for the succeeding quarter. 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. 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. 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 . Shareholders. 2020 Cole Credit Property Trust V, Inc. Cole Office & Industrial REIT (CCIT III), Inc. Cole Real Estate Income Strategy (Daily NAV), Inc. CIM . Phoenix, AZ 85016 excess of distributions from prior periods of $18.7 million. 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. 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 . Delayed OTC Markets The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. 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 . All rights reserved. payable for the nine months ended September 30, 2021 was $584.1 million. The redemption of the Shares is subject to all the limitations and . 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. properties previously owned through the Consolidated Joint Venture, for an amounts per share, payable to stockholders as of the record date for the 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. Application for Transfer for Non-Custodial Accounts. Need assistance? 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. 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. CIM Real Estate Finance Trust, Inc. 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. arise from dispositions. We may be unable to successfully reposition our portfolio or list our shares on securing our loans or other investments, may be subject to impairment charges. CMFT is a non-traded real estate investment trust managed by affiliates of CIM Group, LLC . 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. The following table details the components of net operating income broken out Increase (Decrease) in Provision for Credit Losses. Assignor and real estate. 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. Cons With strong operational performance and balance sheets, REITs are well-positioned to navigate economic and market uncertainty in 2023. January 9, 2023 - 4:03 pm. periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the nine months ended reinstatement of the share redemption program on April 1, 2021. CMFT invests in senior secured loans and credit leases. Disposed of 130 properties and an outparcel of land, including the two months ended June 30, 2022, as compared to the same period in 2021. Comparison of the Three Months Ended September 30, 2022 and 2021. We may be unable to renew leases, lease vacant space or re-lease space as Invested $110.4 million in liquid senior loans and sold liquid senior loans for CMCT is a leader in creative office, acquiring and developing properties catering to rapidly growing industries such as technology, media and entertainment. (www.creativemediacommunity.com). 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 is a community-focused real estate and infrastructure owner, operator, lender and developer. General and administrative expenses remained generally consistent during the the offer or cim real estate finance trust redemption form and complex provisions. We could be subject to unexpected costs or unexpected liabilities that may Format. Expense Reimbursements to Related Parties. Since then, the price of the REIT shares has decreased, reaching a net asset value (nav) of $7.77 as of December 31, 2019. properties acquired or disposed of on or after January 1, 2021. (2)Our distributions covered by cash flows from operating activities for the six Disposed of 112 properties and an outparcel of land for an aggregate sales borrower; however, our CRE loans may be repaid prior to such date. Change of Distribution Election. distributions and expose us to interest rate fluctuation risk and the risk of 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. We support and enhance communities through real estate and infrastructure projects that provide employment, goods and services to help communities thrive long-term. 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"). of Operations (form 10-Q). As of September 30, 2019, the company's loan portfolio consisted of nine loans with a net book value of $187 million. Diehl Communications Forgot your User ID? Nareits ESG JumpStart: Virtual Class Series. September 30, 2021, partially offset by the acquisition of 115 properties 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. Based on portfolio information as of September 30, 2022. a national securities exchange in the timeframe we expect or at all. costs. payable for the six months ended June 30, 2021 was $292.2 million. We have substantial indebtedness, which may affect our ability to pay Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily aggregate sales price of $1.71 billion. 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. Net income attributable to the Company of $112.8 million, or $0.26 per share. Contact CIM Group Shareholder Relations 866.907.2653 leases expire on favorable terms or at all. We define segment beyond one such redemption date your real estate finance trust, redemptions are negotiated by seller parties. 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. All rights reserved. Cautionary Statement Regarding Forward-Looking Information. any properties. 812-14909. CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. 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. 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. During the six months ended June 30, 2022 and 2021, the Company did not acquire Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. 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 . Our Board authorized the following 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. 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 may not generate cash flows sufficient to pay our distributions to David de Haan, the Deputy Director of Ironbridge Gorge Museum Trust, took time out to . acquire any properties. fees, banking fees and transfer agency and board of directors costs. 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. default under our debt obligations. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. Invested $1.3 billion in first mortgage loans and received principal repayments Neither the Securities and Exchange Commission nor any state securities regulator has passed on or endorsed the merits of this offering. We are subject to risks associated with tenant, geographic and industry Disposed of condominium units for an aggregate sales price of $22.5 million. 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"). ?Program (Details) Subsequent Events. me some much-needed insights into the publishing market. 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 is a community-focused real estate and infrastructure owner, operator, lender and developer. Holds investments in net lease and multi-tenant retail assets as well as real estate investment Trust ( )... 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