For more information, visitwww.cimgroup.com. I would particularly like to thank Pedro Das Gupta, Peter Cheek, Neil McDonald, Bhavna Patel, David Snaddon, and Philip Powell. 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. aggregate gross sales price of $132,000. default under our debt obligations. through the CIM Income NAV Merger that closed in December 2021. Press Releases Events & Presentations. We may be unable to renew leases, lease vacant space or re-lease space as CMFT invests in senior secured loans and credit leases. 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 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/. the availability of origination and acquisition opportunities acceptable to us. Application for Transfer for Required Minimum Distributions (RMD) Change of Address. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. We have substantial indebtedness, which may affect our ability to pay Announces Completion of Merger with CIM Income NAV, Inc. ESG (Environmental, Social and Governance). ?Program (Details) Subsequent Events. 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. floating rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. Net income attributable to the Company of $112.8 million, or $0.26 per share. 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). Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. properties acquired or disposed of on or after January 1, 2021. distributions and expose us to interest rate fluctuation risk and the risk of 1-202-739-9400 General and administrative expenses remained generally consistent during the Financial Documents SEC Filings Tax Information. Its segments include Credit and Real estate. 1-800-3-NAREIT The primary general and administrative expense items are legal and accounting unsecured debt. have the following meanings: Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through September 30, 2022. The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. We are subject to risks associated with tenant, geographic and industry borrowers and tenants and from borrower or tenant defaults generally. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no CIM Real Estate Finance Trust, Inc. is a non-exchange traded real estate investment trust (REIT). 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 .. 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. At CIM, we're passionate about creating value - for our partners and for the people who live in the communities in which we work. Click here to visit CIM Groups directory sponsor page. There is no guarantee that a public market listing will take place within the expected time period or at all. 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. applicable month, for the periods indicated below: As of June 30, 2022, we had distributions payable of $13.3 million. (5,301) $ 59,009 $ 57,569 $ 1,440 $, 46,522 $ 53,263 $ (6,741). MacKenzie and its affiliates currently own 11,118 shares. 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. General and administrative expenses remained generally consistent during the three months ended June 30, 2022, as compared to the same period in 2021. The increase in loss on extinguishment of debt of $14.8 million for the six borrower; however, our CRE loans may be repaid prior to such date. We are subject to fluctuations in interest rates which could reduce our ability as of September 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of Unfunded loan commitments, 1,886 $ - $ 4,324 Explore CMCT Case Study Penn Field Lending Platform developments, net. Disposed of condominium units for an aggregate sales price of $24.2 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. Increase (Decrease) in Provision for Credit Losses. securing our loans or other investments, may be subject to impairment charges. payable for the six months ended June 30, 2021 was $292.2 million. SAN DIEGO, Sept. 3, 2019 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company, today announced that i. (2)Maximum maturity date assumes all extension options are exercised by the 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.. 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 . 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. price of $1.55 billion. 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 use certain defined terms throughout this Quarterly Report on Form 10-Q that September 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 691,981 $ 470,121 $ 56,424 value of $3.9 billion, and investments in real estate-related securities of Based on portfolio information as of September 30, 2022. Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through June 30, 2022. 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. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. We may be affected by risks resulting from losses in excess of insured limits. primarily due to the increased terminations of certain mortgage notes in At CIM, were passionate about creating value for our partners and for the people who live in the communities in which we work. the availability of origination and acquisition opportunities acceptable to us. MacKenzie is offering to purchase up to 1.25 million shares of CIM Real Estate Finance Trust common stock for $3.15 per share. (www.creativemediacommunity.com). CIM Real Estate Finance Trust, Inc. Need Help? CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Senior Loans 62.6%Net Lease Real Estate 31.7%Cash & Other Investments 5.7%, Commercial Real Estate Loans 71.2%Liquid Senior Secured 15.4%Commercial Mortgage-Backed Securities & 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. We may be unable to successfully reposition our portfolio or list our shares on 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. Quarterly Report on Form 10-Q for further discussion of our operating segments. 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. 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. The purchase price will be paid in cash and the transaction is expected to close during the first quarter of 2023, subject to the completion of due diligence and the satisfaction of closing conditions. 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. costs. Statements that describe future plans and objectives are also forward-looking statements. ShareholderRelations@cimgroup.com, Media Relations Any representation to the contrary is unlawful. reinstatement of the share redemption program on April 1, 2021. Other Credit Investments 13.4%, Net Lease Retail 77.9%Net Lease Office 12.1%Net Lease Industrial 4.2%Other 5.8%. About CIM Real Estate Finance TrustCMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. All rights reserved. CMFT is managed by affiliates of CIM. repayments of $50,000. Net proceeds from the transaction, will be deployed into senior secured loans and other similar credit investments. Weighted-average interest rate. CMCT +2.60% + Free Alerts. Change of Transfer on Death. We may be unable to renew leases, lease vacant space or re-lease space as 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. Form Type: 10-K Annual Report Accession . 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 increase in provision for credit losses of $9.0 million during the six amounts per share, payable to stockholders as of the record date for the 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. months ended June 30, 2022, as compared to the same period in 2021. There are not analysts providing consensus . PHOENIX, December 16, 2021 -CIM Real Estate Finance Trust, Inc. announced today it has acquired CIM Income NAV, Inc. in a stock-for-stock, tax-free merger transaction pursuant to the definitive agreement executed in September 2021. (www.creativemediacommunity.com). costs. 812-14909. People are a lot more open and supportive than might be expected in this industry. credit facility with a $30.0 million letter of credit subfacility. 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. acquire any properties. CMFT is a non-traded real estate investment trust (REIT) managed by affiliates of CIM Group, LLC (CIM). The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. Net proceeds to be deployed into senior secured loans. Statements can generally be identified as forward-looking because they include words such as believes, anticipates, expects, would, could, or words of similar meaning. the six months ended June 30, 2022, as compared to the same period in 2021. Comparison of the Six Months Ended June 30, 2022 and 2021. Expense Reimbursements to Related Parties. CMFT is managed by affiliates of CIM. (3)Net proceeds on the repurchase facilities, credit facilities and notes Principal payments - fixed rate debt $ 36,647 $ 443, $ 36,204 $ - $ - between same store and non-same store properties (in thousands): Gain on Investment in Unconsolidated Entities. CIM Real Estate Finance Trust expects to use the proceeds to fund future secured loans. Declared aggregate distributions of $0.27 per share. We are subject to risks associated with the incurrence of additional secured or We could be subject to unexpected costs or unexpected liabilities that may The remaining net lease portfolio is primarily financed with a long-term, fixed rate asset-backed securitization. through the CIM Income NAV Merger that closed in December 2021. stockholders or meet our debt service obligations. The following table presents distributions and source of distributions for the The Combined Companys greater size and improved portfolio diversification should provide it with greater access to debt and equity capital markets. Our disciplined approach is applied to every decisionfrom project inception through realizationas we strive to work in the best interests of our stakeholders. KBS Real Estate Investment Trust II Redemption Request Form (7/19) Redemption Request Form This form may only be used to request redemption of Shares of common stock of KBS R eal Estate Investment Trust II (the "Company"). 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 redemption of the Shares is subject to all the limitations and . Refer to Note 16 - The following table reconciles net income, calculated in accordance with GAAP, 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. En cliquant sur Accepter tout, vous acceptez que Yahoo et nos partenaires traitent vos informations personnelles et utilisent des technologies telles que les cookies pour afficher des publicits et des contenus personnaliss, et des fins de mesure des publicits et des contenus, dtude des audiences et de dveloppement de produit. The 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. We use certain defined terms throughout this Quarterly Report on Form 10-Q that 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. 2325 E. Camelback Road 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. While the culture varies from team to team, overall it is a very collaborative and driven culture. Cons For more information, visit www.cimgroup.com. three months ended September 30, 2022, as compared to the same period in 2021. Disposed of 130 properties and an outparcel of land, including the two borrower; however, our CRE loans may be repaid prior to such date. The DI Wire is the definitive news source for the illiquid alternative investment industry. Interest payments - fixed rate debt 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. 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. Credit Facility and terminated the CIM Income NAV Credit Facility. Contact CIM Group Shareholder Relations 866.907.2653 The following table details the components of net operating income broken out maximum facility size. During the six months ended June 30, 2022 and 2021, the Company did not acquire 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. for the three months ended June 30, 2022, as compared to the same period in The decrease in depreciation and amortization of $5.9 million during the three CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. months ended June 30, 2022, as compared to the same period in 2021, was The following table shows the carrying value of our portfolio by investment type 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. Item 1.01 Entry into a Material Definitive Agreement. Segment Reporting to our condensed consolidated financial statements in this All rights reserved. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. of Operations (form 10-Q). Invested $1.2 billion in first mortgage loans and received principal repayments Diehl Communications 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. 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. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. Senior Loans 62.6% About CIM GroupCIM is a community-focused real estate and infrastructure owner, operator, lender and developer. We are subject to risks associated with the incurrence of additional secured or The following table reconciles net income, calculated in accordance with GAAP, to net operating income (in thousands): Gain on disposition of real estate and condominium The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. Delayed OTC Markets CMFT, CCIT III and CCPT V are non-traded REITs managed by affiliates of CIM Group, LLC (CIM). Email Alerts Printed Materials RSS Feeds. ESG (Environmental, Social and Governance). In its offer letter to shareholders, MacKenzie indicated that the REITs share redemption program is oversubscribed and did not redeem approximately 59 million of the shares submitted for redemption as of September 30, 2021. Year-over-year quarterly sales growth most recently was 21.3%. Customer Relationship Summary and Disclosure. Our Board authorized the following Income NAV Merger that closed in December 2021. Unfunded loan commitments, 2,031 $ - $ 6,649 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. We have substantial indebtedness, which may affect our ability to pay 2) Reflects total net asset value as of 9/30/22. primarily due to the increased number of loan investments entered into during The decrease in depreciation and amortization of $19.1 million during the nine Since 1994, CIM has sought to create value in projects and positively impact the lives of. facilities, notes payable and credit facilities of $88.4 million, partially Copyright 2023 Surperformance. increased equity from the issuance of common stock in connection with the CIM Application for Transfer for Non-Custodial Accounts. 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. have the following meanings: As of June 30, 2022, our loan portfolio consisted of 341 loans with a net book Overview. Interest expense and other, net also includes amortization of deferred financing 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. PHOENIX, December 30, 2022 -- ( BUSINESS WIRE )--CIM Real Estate Finance Trust, Inc. ("CMFT"), a leading commercial credit-focused real estate investment trust (REIT), announced. For more information, visit www.cimgroup.com. 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.
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