?Program (Details) Subsequent Events. Need assistance? The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. 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. distribution for the succeeding quarter. Karen Diehl 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. January 9, 2023 - 4:03 pm. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution Email Alerts Printed Materials RSS Feeds. Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily 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. $274.4 million. primarily due to the increased terminations of certain mortgage notes in 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. Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. 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. Forgot your Password? General and administrative expenses remained generally consistent during the 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. We use certain defined terms throughout this Quarterly Report on Form 10-Q that months ended June 30, 2022, as compared to the same period in 2021. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. SAN DIEGO, Sept. 3, 2019 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company, today announced that i. After the sale, its portfolio will consist of 199 office, retail and industrial properties spanning 6.4M SF. We may be affected by risks resulting from losses in excess of insured limits. About CIM Real Estate Finance TrustCMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. 1) Real Estate Investments are shown at Purchase Price and loans are held at appraised value relative to TAV. Unfunded loan commitments, 2,031 $ - $ 6,649 periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the six months ended June 30, 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. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. facilities, notes payable and credit facilities of $88.4 million, partially 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. Copyright Nareit 2023. have the following meanings: Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through September 30, 2022. of Operations (form 10-Q). 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. 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"). The decrease in depreciation and amortization of $5.9 million during the three We are subject to risks associated with the incurrence of additional secured or 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. payable for the six months ended June 30, 2021 was $292.2 million. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Cim Real Estate Finance Trust Inc's trailing 12-month revenue is $408.0 million with a 28.7% profit margin. 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"). Our Board authorized the following Gain on Disposition of Real Estate and Condominium Developments, Net, Expense Reimbursements to Related Parties. Any representation to the contrary is unlawful. Slectionnez Grer les paramtres pour grer vos prfrences. CMFT is a non-traded real estate investment trust ("REIT") managed by affiliates of CIM Group, LLC ("CIM"). CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. arise from dispositions. Our properties, intangible assets and other assets, as well as the property The following table presents distributions and source of distributions for the Phoenix, AZ 85016 . 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. payable for the nine months ended September 30, 2021 was $584.1 million. was primarily due to the disposition of 134 properties subsequent to 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 .. aggregate gross sales price of $132,000. 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. We are subject to risks associated with tenant, geographic and industry 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). 2) Reflects total net asset value as of 9/30/22. 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. June 30, 2022, as compared to the same period in 2021, was primarily due to These statements are based on the current expectations of management for CMFT, CCIT III and CCPT V and on currently available industry, financial and economic data. About CIM Real Estate Finance Trust CMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. Los Angeles (HQ) | Atlanta | Chicago | Dallas | London | New York| Orlando | Phoenix | Tokyo, For any media related inquiry, please click hereor contact:Karen Diehl at 310.741.9097 / karen@diehlcommunications.com, orBill Mendel at 212.397.1030 / bill@mendelcommunications.com. "Additionally, this transaction increases our flexibility as we seek to capitalize on investment opportunities resulting from the current market environment.". Interest expense and other, net also includes amortization of deferred financing The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. default under our debt obligations. Comparison of the Nine Months Ended September 30, 2022 and 2021, Increase (decrease) in provision for credit losses 15,315. 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. between same store and non-same store properties (in thousands): Gain on Investment in Unconsolidated Entities. The remaining net lease portfolio is primarily financed with a long-term, fixed rate asset-backed securitization. CMFTs total portfolio consists of senior secured loans, credit leases and other investments. Disposed of 130 properties and an outparcel of land, including the two 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. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no Our properties, intangible assets and other assets, as well as the property Delayed OTC Markets Income NAV Merger that closed in December 2021. of September 30, 2022 and 2021: (1) Includes square feet of buildings on land parcels subject to ground About CIM GroupCIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Forgot your User ID? Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. Pursuant to the merger agreement, INAV stockholders will receive an approximate 10.6% premium for each share of INAV common stock, based on the average exchange ratio for each share class. Statements that describe future plans and objectives are also forward-looking statements. connection with the disposition of the underlying properties during the six three months ended June 30, 2022, as compared to the same period in 2021. COVID-19 pandemic. United States. any properties. For more information, visit www.cimgroup.com. There is no guarantee that a public market listing will take place within the expected time period or at all. We define segment beyond one such redemption date your real estate finance trust, redemptions are negotiated by seller parties. 1-202-739-9400 Since then, the price of the REIT shares has decreased, reaching a net asset value (nav) of $7.77 as of December 31, 2019. For more information, visitwww.cimgroup.com. We are subject to competition from entities engaged in lending which may impact to generate income on our credit investments. Segment Reporting to our condensed consolidated financial statements in this Statements that describe future plans and objectives are also forward-looking statements. The tender offer expires on March 7th. developments, net. 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. The increase in gain on investment in unconsolidated entities of $1.3 million We may be unable to renew leases, lease vacant space or re-lease space as 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 . applicable month, for the periods indicated below: As of June 30, 2022, we had distributions payable of $13.3 million. 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. unsecured debt. This virtual event features six 90-minute classes about the fundamentals of ESG in commercial real estate. Comparison of the Three Months Ended June 30, 2022 and 2021. Other Credit Investments 13.4%, Net Lease Retail 77.9%Net Lease Office 12.1%Net Lease Industrial 4.2%Other 5.8%. 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 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. 2020 Cole Credit Property Trust V, Inc. Cole Office & Industrial REIT (CCIT III), Inc. Cole Real Estate Income Strategy (Daily NAV), Inc. CIM . CMFT invests in senior secured loans and credit. Cons Invested $1.3 billion in first mortgage loans and received principal repayments (2)Maximum maturity date assumes all extension options are exercised by the The REIT anticipates a public listing in 2022. 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. We may be unable to successfully reposition our portfolio or list our shares on Entered into a new credit agreement that provides for borrowings of up to HOME; LOGIN; PREMIUM; FREE TRIAL; SEC FILINGS; STOCK SCREENERS. Share Redemption? News & Events. Customer Relationship Summary and Disclosure. 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. Increase (Decrease) in Provision for Credit Losses. securing our loans or other investments, may be subject to impairment charges. Net income attributable to the Company of $112.8 million, or $0.26 per share. Cautionary Statement Regarding Forward-Looking Information. 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. Contact CIM Group Shareholder Relations 866.907.2653 CCO Group programs are only offered by means of a prospectus. 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") CIM Income NAV, Inc. ("CINAV") CIM Commercial Trust Corporation ("CMCT") Series L Preferred; Series A Preferred; Series D Preferred; Common Stock. be impacted by current or future economic conditions associated with the distributions and expose us to interest rate fluctuation risk and the risk of . CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. through the CIM Income NAV Merger that closed in December 2021. The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. Financial Documents SEC Filings Tax Information. leases. 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 successfully reposition our portfolio or list our shares on floating rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. Invested $433.2 million in CMBS and sold one marketable security for an 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. (3)Net proceeds on the repurchase facilities, credit facilities and notes The merger was subject to the approval of INAV stockholders, who voted in favor of the transaction during a virtual special meeting of stockholders on December 14, 2021. Our continued compliance with debt covenants depends on many factors and could We are subject to competition from entities engaged in lending which may impact Disposed of condominium units for an aggregate sales price of $24.2 million. Segment Reporting to our condensed consolidated financial statements in this on loans held-for-investment of $127.1 million. credit facility with a $30.0 million letter of credit subfacility. 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). leases expire on favorable terms or at all. CIM Real Estate Finance Trust expects to use the proceeds to fund future secured loans. offset by an increase in redemptions of common stock of $19.7 million due to the We may not be able to maintain profitability. "same store" properties during the six months ended June 30, 2022 and 2021. fees, banking fees and transfer agency and board of directors costs. Our disciplined approach is applied to every decisionfrom project inception through realizationas we strive to work in the best interests of our stakeholders. 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. borrowers and tenants and from borrower or tenant defaults generally. 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. Cmft is a public, non-listed REIT as a REIT, 2022 and 2021 nine months ended September,! And tenants and from borrower or tenant defaults generally ) Reflects total Net asset as... 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