Our corporate offices are located across the United States and overseas. The Financial Times library staff provided constant support and advice. Cautionary Statement Regarding Forward-Looking Information. of Operations (form 10-Q). daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution Contact CIM Group Shareholder Relations 866.907.2653 HOME; LOGIN; PREMIUM; FREE TRIAL; SEC FILINGS; STOCK SCREENERS. 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. We have substantial indebtedness, which may affect our ability to pay payable for the six months ended June 30, 2021 was $292.2 million. Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through June 30, 2022. Retail REITs Announce Financial Transactions in 2019. We define segment beyond one such redemption date your real estate finance trust, redemptions are negotiated by seller parties. Net income attributable to the Company of $112.8 million, or $0.26 per share. (2)Our distributions covered by cash flows from operating activities for the six These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the six months ended June 30, 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. Invested $1.2 billion in first mortgage loans and received principal repayments Weighted-average interest rate. unsecured debt. January 12, 2023 - 8:00 am. The curriculum will cover each aspect of ESGtopics include program planning, implementation and reporting, DEI initiatives, climate change and carbon accounting. Request to Change Financial Advisor and/or Broker Dealer. 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. leases. Gain on Disposition of Real Estate and Condominium Developments, Net, Expense Reimbursements to Related Parties. 2022 and 2021 was $61.2 million and $65.3 million, respectively. The primary general and administrative expense items are legal and accounting CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. was primarily due to the disposition of 134 properties subsequent to on loans held-for-investment of $156.9 million. 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 & REITs invest in the majority of real estate property types, including offices, apartment buildings, warehouses, retail centers, medical facilities, data centers, cell towers, infrastructure and hotels. We are subject to risks associated with the incurrence of additional secured or concentrations with respect to our investments and properties. For more information, visit www.cimgroup.com. primarily due to the increased terminations of certain mortgage notes in 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. months ended June 30, 2022 include cash flows from operating activities in stockholders or meet our debt service obligations. General and administrative expenses remained generally consistent during the of Operations (form 10-Q). 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. We are subject to competition from entities engaged in lending which may impact January 9, 2023 - 4:03 pm. The transaction is expected to close during the first quarter of 2022. The increase in loss on extinguishment of debt of $14.8 million for the six have the following meanings: As of June 30, 2022, our loan portfolio consisted of 341 loans with a net book 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. Disposed of condominium units for an aggregate sales price of $24.2 million. 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. (www.creativemediacommunity.com). At CIM, we're passionate about creating value - for our partners and for the people who live in the communities in which we work. Gain on Disposition of Real Estate and Condominium Developments, Net. June 30, 2022, as compared to the same period in 2021, was primarily due to as of June 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of Security and Exchange Commission SEC Cim Real Estate Finance Trust, Inc. Form 10-Q Comparison of the Three Months Ended June 30, 2022 and 2021. Paid down the $212.5 million outstanding balance under the CIM Income NAV 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. 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. CMFT is managed by affiliates of CIM. on loans held-for-investment of $127.1 million. Carter Validus CIM Income NAV CIM Real Estate Finance Trust CNL. borrower; however, our CRE loans may be repaid prior to such date. 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. Change of Transfer on Death. 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. CMFT is managed by affiliates of CIM. 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. United States. These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. Interest expense and other, net also includes amortization of deferred financing Converted $68.2 million of preferred units into a CRE loan upon maturity. Please call (866) 584-1381 with questions. Cim Real Estate Finance Trust Inc's trailing 12-month revenue is $408.0 million with a 28.7% profit margin. Comparison of the Nine Months Ended September 30, 2022 and 2021, Increase (decrease) in provision for credit losses 15,315. We are subject to risks associated with the incurrence of additional secured or We may be unable to renew leases, lease vacant space or re-lease space as 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). 2021, was due to the Company's investment in NP JV Holdings, which was not The Combined Companys greater size and improved portfolio diversification should provide it with greater access to debt and equity capital markets. distribution for the succeeding quarter. 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. for the three months ended June 30, 2022, as compared to the same period in CIM Real Estate Finance Trust, Inc. 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. Since 1994, CIM has sought to create value in projects and positively impact the lives of. Principal payments - fixed rate debt $ 95,317 $ 16,238, $ 79,079 $ - $ - Expense Reimbursements to Related Parties. Any representation to the contrary is unlawful. 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. Our Board authorized the following 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. ?Program (Details) Subsequent Events. CIM Real Estate Finance Trust, Inc. For more information, visit www.cimgroup.com. offset by an increase in redemptions of common stock of $19.7 million due to the Our operating segments include credit and real estate. Our properties, intangible assets and other assets, as well as the property We may be unable to successfully reposition our portfolio or list our shares on Our Board authorized the following ESG (Environmental, Social and Governance). Item 1.01 Entry into a Material Definitive Agreement. The transactions were subject to the approval of the respective mergers and certain other matters by stockholders of CCIT III and CCPT V. Both CCIT III and CCPT V stockholders voted in favor of the respective mergers during virtual special meetings of stockholders held on December 17, 2020. The 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. Statements that describe future plans and objectives are also forward-looking statements. Shareholder Relations CMFT invests in senior secured loans and credit leases. We may be affected by risks resulting from losses in excess of insured limits. Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. Announces Completion of Merger with CIM Income NAV, Inc. ESG (Environmental, Social and Governance). "Additionally, this transaction increases our flexibility as we seek to capitalize on investment opportunities resulting from the current market environment.". The following table shows the carrying value of our portfolio by investment type The following table details the components of net operating income broken out Cons through the CIM Income NAV Merger that closed in December 2021. CMFT invests in senior secured loans and credit. For more information, visitwww.cimgroup.com. Cautionary Statement Regarding Forward-Looking Information. CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. $300.0 million, which includes a $100.0 million term loan facility and the a national securities exchange in the timeframe we expect or at all. Subsequent Events (Details) . The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. Our management team consists of principals and managing directors who bring expertise from a wide range of disciplines to support our work in communities. acquire any properties. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. arise from dispositions. If you invested in CIM Real Estate Finance Trust, or Cole Credit . 1-202-739-9400 (3)Net proceeds on the repurchase facilities, credit facilities and notes MacKenzie is offering to purchase up to 1.25 million shares of CIM Real Estate Finance Trust common stock for $3.15 per share. 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. User ID: Password: Establish a new User ID and Password. All rights reserved. me some much-needed insights into the publishing market. 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.. The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. Weighted-average interest rate. Cim Real Estate Finance Trust Inc does not have a meaningful P/E due to negative earnings over the last 12 trailing months. 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 pro forma combined company ("CC CMFT") would have approximately $6.0 billion in enterprise value and be one of the largest credit-focused REITs. "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. Format. Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily 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. We may not generate cash flows sufficient to pay our distributions to CMFT invests in senior secured loans and credit. was primarily due to the disposition of 134 properties subsequent to As of September 30, 2019, the company's loan portfolio consisted of nine loans with a net book value of $187 million. -, 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 Pour en savoir plus sur notre utilisation de vos informations, veuillez consulter notre Politique relative la vie prive et notre Politique en matire de cookies. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. (1) Includes square feet of buildings on land parcels subject to ground The 185-property portfolio subject to the sale to Realty Income consists of non-core retail and industrial properties totaling 4.6 million square feet with a 9.3 year weighted average remaining lease term (WALT)1. Statements that describe future plans and objectives are also forward-looking 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. $274.4 million. Customer Relationship Summary and Disclosure. About CIM GroupCIM is a community-focused real estate and infrastructure owner, operator, lender and developer. primarily due to the increased number of loan investments entered into during maximum facility size. developments, net. 2) Reflects total net asset value as of 9/30/22. With strong operational performance and balance sheets, REITs are well-positioned to navigate economic and market uncertainty in 2023. 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. The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. 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. 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 . months ended September 30, 2022, as compared to the same period in 2021, As a result of these relationships, the Company is dependent upon CR IV Advisors and its affiliates. The following table shows the property statistics of our real estate assets as 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. (2)Maximum maturity date assumes all extension options are exercised by the The decrease in depreciation and amortization of $5.9 million during the three We use certain defined terms throughout this Quarterly Report on Form 10-Q that 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. The increase in management fees of $3.4 million during the six months ended 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. 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. Other Credit Investments 13.4%, Net Lease Retail 77.9%Net Lease Office 12.1%Net Lease Industrial 4.2%Other 5.8%. 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. Year-over-year quarterly sales growth most recently was 21.3%. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution The remaining net lease portfolio is primarily financed with a long-term, fixed rate asset-backed securitization. Unfunded loan commitments, 1,886 $ - $ 4,324 Based on portfolio information as of September 30, 2022. Disposed of 112 properties and an outparcel of land for an aggregate sales Delayed OTC Markets The redemption of the Shares is subject to all the limitations and . have the following meanings: Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through September 30, 2022. (3)Table does not include our investment in the Unconsolidated Joint Venture, "Non-same store" properties, for purposes of the table below, includes (2). payable for the nine months ended September 30, 2021 was $584.1 million. During the nine months ended September 30, 2022 and 2021, the Company did not CMCT +2.60% + Free Alerts. September 30, 2021, partially offset by the acquisition of 115 properties Net proceeds from the transaction, will be deployed into senior secured loans and other similar credit investments. the six months ended June 30, 2022, as compared to the same period in 2021. Disposed of 130 properties and an outparcel of land, including the two 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 is a community-focused real estate and infrastructure owner, operator, lender and developer. borrowers and tenants and from borrower or tenant defaults generally. amounts per share, payable to stockholders as of the record date for the September 30, 2021, partially offset by the acquisition of 115 properties The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. Change of Distribution Election. 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 . Shareholder Relations distribution for the succeeding quarter. 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. 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. The combined company after the Merger will retain the name CIM Real Estate Finance Trust, Inc. 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. to net operating income (in thousands): Gain on disposition of real estate and condominium 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. Declared aggregate distributions of $0.27 per share. costs. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Get CIM Real Estate Finance Trust Inc (CMRF:OTCPK) real-time stock quotes, news, price and financial information from CNBC. . three months ended June 30, 2022, as compared to the same period in 2021. 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. 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. 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. Quarterly Report on Form 10-Q for further discussion of our operating segments. 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 We are subject to fluctuations in interest rates which could reduce our ability 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. leases expire on favorable terms or at all. concentrations with respect to our investments and properties. 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). News & Events. We may be unable to renew leases, lease vacant space or re-lease space as CMFT is managed by affiliates of CIM. 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. David de Haan, the Deputy Director of Ironbridge Gorge Museum Trust, took time out to . increased equity from the issuance of common stock in connection with the CIM (1)As of June 30, 2022, 100% of our loans by principal balance earned a floating 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. Click here to visit CIM Groups directory sponsor page. 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. . Unfunded loan commitments, 2,031 $ - $ 6,649 Diehl Communications During the six months ended June 30, 2022 and 2021, the Company did not acquire leases. The following table reconciles net income, calculated in accordance with GAAP, applicable month, for the periods indicated below: As of September 30, 2022, we had distributions payable of $13.3 million. --------------------------------------------------------------------------------. 3) Loan to Value is shown at time of origination. 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. rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. Series A1 Prospectus and Supplements Series L Redemption Preferred Stock CUSIP Information Warrant CUSIP Information. 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. Among CMCT's assets is Penn Field, a 1918 U.S. Army air base that was transformed into a creative office campus. properties previously owned through the Consolidated Joint Venture, for an CIM Real Estate Finance Trust expects to use the proceeds to fund future secured loans. --------------------------------------------------------------------------------. The REIT anticipates a public listing in 2022. Securities distributed by affiliate broker-dealer: CCO Capital, LLC, member: FINRA / SIPC, Information about CCO Capital, LLC can be found at FINRA's BrokerCheck. invested in by the Company during the three months ended June 30, 2021. This contact form is not for media related inquiries. Principal payments - fixed rate debt $ 36,647 $ 443, $ 36,204 $ - $ - 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. months ended June 30, 2022, as compared to the same period in 2021. June 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 674,677 $ 274,382 $ 54,547 A total of 307 properties were acquired before January 1, 2021 and represent our 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 . 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. Nareits ESG JumpStart: Virtual Class Series. 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 .

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