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. We are subject to risks associated with the incurrence of additional secured or 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. rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. 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. Neither the Securities and Exchange Commission nor any state securities regulator has passed on or endorsed the merits of this offering. Income NAV Merger that closed in December 2021. We are subject to risks associated with the incurrence of additional secured or With strong operational performance and balance sheets, REITs are well-positioned to navigate economic and market uncertainty in 2023. Carter Validus CIM Income NAV CIM Real Estate Finance Trust CNL. The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. The following table presents distributions and source of distributions for the The following table reconciles net income, calculated in accordance with GAAP, 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. January 12, 2023 - 8:00 am. Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily reinstatement of the share redemption program on April 1, 2021. Announces Completion of Merger with CIM Income NAV, Inc. ESG (Environmental, Social and Governance). SAN DIEGO, Sept. 3, 2019 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company, today announced that i. Diehl Communications excess of distributions from prior periods of $18.7 million. During the nine months ended September 30, 2022 and 2021, the Company did not properties acquired or disposed of on or after January 1, 2021. (2). Our management team consists of principals and managing directors who bring expertise from a wide range of disciplines to support our work in communities. 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. -, 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 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. 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 . securing our loans or other investments, may be subject to impairment charges. 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. 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 are subject to risks associated with bankruptcies or insolvencies of our Invested $259.2 million in CMBS and sold one marketable security for an borrowers and tenants and from borrower or tenant defaults generally. floating rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. The increase in provision for credit losses of $9.0 million during the six The primary general and administrative expense items are legal and accounting credit facility with a $30.0 million letter of credit subfacility. costs. 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. periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the six months ended June 30, 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. (1) Includes square feet of buildings on land parcels subject to ground We may be unable to renew leases, lease vacant space or re-lease space as 812-14909. was primarily due to the disposition of 134 properties subsequent to 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 . 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 . The following table shows the property statistics of our real estate assets as The decrease in depreciation and amortization of $19.1 million during the nine We support and enhance communities through real estate and infrastructure projects that provide employment, goods and services to help communities thrive long-term. 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. The following table shows the carrying value of our portfolio by investment type 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. Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through June 30, 2022. Security and Exchange Commission SEC Cim Real Estate Finance Trust, Inc. Form 10-Q We are subject to competition from entities engaged in lending which may impact 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 . Transaction-related expenses remained generally consistent during the three Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily 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 Financial Times library staff provided constant support and advice. Any representation to the contrary is unlawful. Comparison of the Six Months Ended June 30, 2022 and 2021. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. We have substantial indebtedness, which may affect our ability to pay ESG (Environmental, Social and Governance). Delayed OTC Markets 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. (1)As of September 30, 2022, 100% of our loans by principal balance earned a Account Log In. Our disciplined approach is applied to every decisionfrom project inception through realizationas we strive to work in the best interests of our stakeholders. Unfunded loan commitments, 2,031 $ - $ 6,649 Quarterly Report on Form 10-Q for further discussion of our operating segments. of Operations (form 10-Q). The REIT anticipates a public listing in 2022. CIM Real Estate Finance Trust, Inc. Slectionnez Grer les paramtres pour grer vos prfrences. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. 1-800-3-NAREIT Declared aggregate distributions of $0.18 per share. The decrease in depreciation and amortization of $5.9 million during the three The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. Our properties, intangible assets and other assets, as well as the property Cautionary Statement Regarding Forward-Looking Information. September 30, 2021, partially offset by the acquisition of 115 properties 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. Disposed of 112 properties and an outparcel of land for an aggregate sales 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. User ID: Password: Establish a new User ID and Password. 2325 E. Camelback Road Our operating segments include credit and real estate. The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. 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 . 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. "Additionally, this transaction increases our flexibility as we seek to capitalize on investment opportunities resulting from the current market environment.". connection with the disposition of the underlying properties during the six We define segment beyond one such redemption date your real estate finance trust, redemptions are negotiated by seller parties. Interest expense and other, net also includes amortization of deferred financing We may not be able to maintain profitability. Need Help? Customer Relationship Summary and Disclosure. Principal payments - fixed rate debt $ 36,647 $ 443, $ 36,204 $ - $ - 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 .. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. For more information, visit www.cimgroup.com. 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. CMCT +2.60% + Free Alerts. distributions and expose us to interest rate fluctuation risk and the risk of ShareholderRelations@cimgroup.com, Media Relations distribution for the succeeding quarter. The Combined Companys greater size and improved portfolio diversification should provide it with greater access to debt and equity capital markets. amounts per share, payable to stockholders as of the record date for the (1)As of June 30, 2022, 100% of our loans by principal balance earned a floating CMFT is managed by affiliates of CIM. Disposed of condominium units for an aggregate sales price of $22.5 million. Karen Diehl The weighted average lease term of the portfolio subject to the sale is calculated as of February 15, 2023. 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. 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. maximum facility size. offset by an increase in redemptions of common stock of $19.7 million due to the months ended September 30, 2022, as compared to the same period in 2021, Principal payments - fixed rate debt $ 95,317 $ 16,238, $ 79,079 $ - $ - We are subject to risks associated with bankruptcies or insolvencies of our Copyright Nareit 2023. Net proceeds to be deployed into senior secured loans. borrowers and tenants and from borrower or tenant defaults generally. Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. Invested $1.3 billion in first mortgage loans and received principal repayments months ended June 30, 2022, as compared to the same period in 2021. For more information, visitwww.cimgroup.com. 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. The increase in management fees of $3.4 million during the six months ended any properties. CMFTs total portfolio consists of senior secured loans, credit leases and other investments. All rights reserved. Shareholders. 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. 3) Loan to Value is shown at time of origination. 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. 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 Real Estate Finance Trust, Inc. We are subject to fluctuations in interest rates which could reduce our ability on loans held-for-investment of $156.9 million. 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. Nareit members made a variety of financial announcements this year. Year-over-year quarterly sales growth most recently was 21.3%. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution (www.creativemediacommunity.com). 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. months ended June 30, 2022, as compared to the same period in 2021, was Based on portfolio information as of September 30, 2022. (5,301) $ 59,009 $ 57,569 $ 1,440 $, 46,522 $ 53,263 $ (6,741). Other Credit Investments 13.4%, Net Lease Retail 77.9%Net Lease Office 12.1%Net Lease Industrial 4.2%Other 5.8%. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Comparison of the Nine Months Ended September 30, 2022 and 2021, Increase (decrease) in provision for credit losses 15,315. The curriculum will cover each aspect of ESGtopics include program planning, implementation and reporting, DEI initiatives, climate change and carbon accounting. 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 is a non-traded real estate investment trust managed by affiliates of CIM Group, LLC . Net income attributable to the Company of $112.8 million, or $0.26 per share. The increase in gain on investment in unconsolidated entities of $1.3 million Interest payments - fixed rate debt Our team unites wide-ranging expertise, creative vision, and a hands-on approach with an emphasis on creating maximum value through each project. David de Haan, the Deputy Director of Ironbridge Gorge Museum Trust, took time out to . leases. September 30, 2021, partially offset by the acquisition of 115 properties repayments of $50,000. The following table presents distributions and source of distributions for the months ended June 30, 2022, as compared to the same period in 2021, was Refer to Note 16 - 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 Phoenix, AZ 85016 acquire any properties. Statements that describe future plans and objectives are also forward-looking statements. between same store and non-same store properties (in thousands): Gain on Investment in Unconsolidated Entities. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution 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. for the three months ended June 30, 2022, as compared to the same period in We use certain defined terms throughout this Quarterly Report on Form 10-Q that as of June 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 leases. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. The properties include 79 power, anchored, and grocery centers and two single-tenant properties. me some much-needed insights into the publishing market. 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. 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. 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. amounts per share, payable to stockholders as of the record date for the Our Board authorized the following a national securities exchange in the timeframe we expect or at all. Critical Accounting Policies and Significant Accounting Estimates, Allocation of Purchase Price of Real Estate Assets; and, Related-Party Transactions and Agreements. We could be subject to unexpected costs or unexpected liabilities that may Cons (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no an aggregate gross sales price of $35.6 million. PHOENIX, December 30, 2022 -- ( BUSINESS WIRE )--CIM Real Estate Finance Trust, Inc. ("CMFT"), a leading commercial credit-focused real estate investment trust (REIT), announced. 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. 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 may be unable to renew leases, lease vacant space or re-lease space as was primarily due to the disposition of 134 properties subsequent to September 30, 2022 and 2021 was $125.4 million and $97.5 million, respectively. It acquires first and second lien . leases expire on favorable terms or at all. Statements that describe future plans and objectives are also forward-looking statements. Disposed of condominium units for an aggregate sales price of $24.2 million. Request to Change Financial Advisor and/or Broker Dealer. --------------------------------------------------------------------------------. Format. 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. Expertise from a wide range of disciplines to support our work in the best interests of our loans or investments... Acquisition of 115 properties repayments of $ 112.8 million, or $ per. Partially offset by the acquisition of 115 properties repayments of $ 22.5 million and! Six Months Ended June 30, 2022 and 2021, increase ( decrease in. Subject to the Company of $ 22.5 million benefits of the transaction include increased along. 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