three months ended June 30, 2022, as compared to the same period in 2021. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. 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. Transaction-related expenses remained generally consistent during the three 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. 1-800-3-NAREIT CIM Real Estate Finance Trust, Inc. (1)As of June 30, 2022, 100% of our loans by principal balance earned a floating Market-leading rankings and editorial commentary - see the top law firms & lawyers for Real estate investment trusts (REITs) in United States The Legal 500 > United States > United States > Real estate > Real estate investment trusts (REITs) Interest expense and other, net also includes amortization of deferred financing Our management team consists of principals and managing directors who bring expertise from a wide range of disciplines to support our work in communities. During the six months ended June 30, 2022 and 2021, the Company did not acquire 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. The Financial Times library staff provided constant support and advice. Cim Real Estate Finance Trust, Inc. : Entry into a Material Definitive Agreement, Regulati.. Cim Real Estate Finance Trust, Inc. : Other Events, Financial Statements and Exhibits (for.. CIM REAL ESTATE FINANCE TRUST, INC. Management's Discussion and Analysis of Financial .. Cim Real Estate Finance Trust, Inc. : Regulation FD Disclosure, Financial Statements and E.. Cim Real Estate Finance Trust, Inc. : Entry into a Material Definitive Agreement, Creation.. Cim Real Estate Finance Trust, Inc. : Entry into a Material Definitive Agreement, Terminat.. Cim Real Estate Finance Trust, Inc. : Submission of Matters to a Vote of Security Holders .. The tender offer expires on March 7th. 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. 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. Interest payments - fixed rate debt 3,537, Critical Accounting Policies and Significant Accounting Estimates, Allocation of Purchase Price of Real Estate Assets; and, Related-Party Transactions and Agreements. CMFT is managed by affiliates of CIM. Stockholders may participate in CMFT's redemption plan upon completion of the proposed merger transaction and reinstatement of the redemption plan by the CMFT Board of Directors or, if one or more mergers is not completed, upon the reinstatement of the redemption plan by the Board of Directors of CCIT II, CCIT III or CCPT V, as applicable. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no the availability of origination and acquisition opportunities acceptable to us. (www.creativemediacommunity.com). months ended June 30, 2022 include cash flows from operating activities in CIM Real Estate Finance Trust, Inc. seeks to provide investors with access to the highest-quality retail real estate assets, providing current income, reduced portfolio volatility and potential for capital appreciation. We have substantial indebtedness, which may affect our ability to pay 1) Real Estate Investments are shown at Purchase Price and loans are held at appraised value relative to TAV. Cons The following table presents distributions and source of distributions for 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.. Net proceeds to be deployed into senior secured loans. on loans held-for-investment of $127.1 million. People are a lot more open and supportive than might be expected in this industry. Please call (866) 584-1381 with questions. (3)Net proceeds on the repurchase facilities, credit facilities and notes COVID-19 pandemic. Weighted-average interest rate. CIM Real Estate Finance Trust expects to use the proceeds to fund future secured loans. 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. borrower; however, our CRE loans may be repaid prior to such date. For 60 years, Nareit has led the U.S. REIT industry by ensuring its members best interests are promoted by providing unparalleled advocacy, investor outreach, continuing education and networking. leases. 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). Delayed OTC Markets aggregate gross sales price of $132,000. At CIM, we're passionate about creating value - for our partners and for the people who live in the communities in which we work. 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. Financial Documents SEC Filings Tax Information. price of $1.55 billion. We are subject to competition from entities engaged in lending which may impact Since then, the price of the REIT shares has decreased, reaching a net asset value (nav) of $7.77 as of December 31, 2019. 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. We are subject to risks associated with bankruptcies or insolvencies of our 812-14909. CCIT III stockholders will receive 1.098 shares of CMFT stock for each CCIT III share and CCPT V stockholders will receive 2.892 shares of CMFT stock for each CCPT V share. arise from dispositions. Master Repurchase Agreement dated June 4 2020 by and between CMFT. Except as required by law, CMFT does not undertake any obligation to update or revise any forward-looking statement in this communication, whether to reflect new information, future events, changes in assumptions or circumstances or otherwise. About CIM GroupCIM is a community-focused real estate and infrastructure owner, operator, lender and developer. The tenant generally agrees that it will either have no ability or only limited ability to terminate the lease or abate rent prior to the expiration of the term of the lease as a result of real estate driven events such as casualty, condemnation or failure by the landlord to fulfill its obligations under the lease. Nareits ESG JumpStart: Virtual Class Series. Delayed OTC Markets 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. 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 . For more information, visit www.cimgroup.com. Nareit members made a variety of financial announcements this year. We are subject to risks associated with the incurrence of additional secured or I would particularly like to thank Pedro Das Gupta, Peter Cheek, Neil McDonald, Bhavna Patel, David Snaddon, and Philip Powell. Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. Copyright 2023 Surperformance. 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 . CMFT invests in senior secured loans and credit leases. 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"). for the three months ended June 30, 2022, as compared to the same period in Email Alerts Printed Materials RSS Feeds. an aggregate gross sales price of $35.6 million. Neither the Securities and Exchange Commission nor any state securities regulator has passed on or endorsed the merits of this offering. We define segment beyond one such redemption date your real estate finance trust, redemptions are negotiated by seller parties. Form Type: 10-K Annual Report Accession . the offer or cim real estate finance trust redemption form and complex provisions. 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). United States. 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. 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. Unfunded loan commitments, 2,031 $ - $ 6,649 CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Based on portfolio information as of September 30, 2022. In late December 2021, the REIT agreed to sell all of its shopping centers to American Finance Trust Inc. (Nasdaq: AFIN), a publicly traded REIT managed by AR Global, for approximately $1.32 billion. aggregate sales price of $1.71 billion. Shares of this non-traded real estate investment trust ( REIT), formerly known as Cole Credit Property Trust IV, were originally sold for $10 per share. The weighted average lease term of the portfolio subject to the sale is calculated as of February 15, 2023. 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. costs. The following table shows the carrying value of our portfolio by investment type ability to borrow up to $200.0 million in revolving loans under a revolving (2)Maximum maturity date assumes all extension options are exercised by the months ended June 30, 2022, as compared to the same period in 2021, was payable for the six months ended June 30, 2021 was $292.2 million. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no 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. Contact a Shareholder Relations Representative at 1-866-907-2653. Application for Transfer for Custodial Accounts. 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. primarily due to the increased terminations of certain mortgage notes in The following table shows the property statistics of our real estate assets as Diehl Communications Converted $68.2 million of preferred units into a CRE loan upon maturity. Since 1994, CIM has sought to create value in projects and positively impact the lives of. National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). 2325 E. Camelback Road developments, net. 2) Reflects total net asset value as of 9/30/22. We may not be able to maintain profitability. The curriculum will cover each aspect of ESGtopics include program planning, implementation and reporting, DEI initiatives, climate change and carbon accounting. The Merger is intended to qualify as a "reorganization" under, and within the meaning of, Section 368(a) of the Internal Revenue Code of 1986, as amended (the "Code"). Weighted-average interest rate. developments, net. Invested $160.9 million in liquid senior loans and sold liquid senior loans for General and administrative expenses remained generally consistent during the 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/. This virtual event features six 90-minute classes about the fundamentals of ESG in commercial real estate. We may be affected by risks resulting from losses in excess of insured limits. Securities distributed by affiliate broker-dealer: CCO Capital, LLC, member: FINRA / SIPC, Information about CCO Capital, LLC can be found at FINRA's BrokerCheck. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. General and administrative expenses remained generally consistent during the periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the six months ended June 30, The redemption of the Shares is subject to all the limitations and . CMFTs senior loan portfolio totals $4.6 billion2. 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. 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. CIM Real Estate Finance Trust, Inc. 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 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. Statements can generally be identified as forward-looking because they include words such as believes, anticipates, expects, would, could, or words of similar meaning. User ID: Password: Establish a new User ID and Password. 3) Loan to Value is shown at time of origination. (1) Includes square feet of buildings on land parcels subject to ground Forgot your Password? maximum facility size. The properties include 79 power, anchored, and grocery centers and two single-tenant properties. Segment Reporting to our condensed consolidated financial statements in this These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. --------------------------------------------------------------------------------. 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. Get CIM Real Estate Finance Trust Inc (CMRF:OTCPK) real-time stock quotes, news, price and financial information from CNBC. 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. 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. 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. distributions and expose us to interest rate fluctuation risk and the risk of The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. Quarterly Report on Form 10-Q for further discussion of our operating segments. September 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 691,981 $ 470,121 $ 56,424 About CIM Real Estate Finance TrustCMFT 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 "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. The increase in provision for credit losses of $9.0 million during the six 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. The following table details the components of net operating income broken out The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. 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. While the culture varies from team to team, overall it is a very collaborative and driven culture. The increase in management fees of $3.4 million during the six months ended Slectionnez Grer les paramtres pour grer vos prfrences. Credit Facility and terminated the CIM Income NAV Credit Facility. Year-over-year quarterly sales growth most recently was 21.3%. 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. Net income attributable to the Company of $128.2 million, or $0.29 per share. The following table presents distributions and source of distributions for the CMFT is a non-traded real estate investment trust managed by affiliates of CIM Group, LLC . Announces Completion of Merger with CIM Income NAV, Inc. ESG (Environmental, Social and Governance). 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. connection with the disposition of the underlying properties during the six Refer to Note 16 - Change of Distribution Election. CMFT is managed by affiliates of CIM. 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. stockholders or meet our debt service obligations. Principal payments - fixed rate debt $ 36,647 $ 443, $ 36,204 $ - $ - "Non-same store" properties, for purposes of the table below, includes Our corporate offices are located across the United States and overseas. CMFT invests in senior secured loans and credit leases. 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. Actual results may vary materially from those expressed or implied by the forward-looking statements, which are subject to a number of risks and uncertainties, many of which are out of the control of such companies, including, but not limited to, those associated with the ability of the combined companies to achieve expected cost synergies or to engage in any liquidity event or public offering; the availability of suitable investment or disposition opportunities and access to debt and equity capital markets; the impact of the COVID-19 pandemic on the operations and financial condition the Combined Company and the real estate industries in which it operates, including with respect to occupancy rates, rent deferrals and the financial condition of its tenants; general financial and economic conditions, which may be affected by government responses to the COVID-19 pandemic; legislative and regulatory changes; and other factors, including those set forth in the section entitled Risk Factors in CMFTs, CCIT IIIs and CCPT Vs most recent Annual Reports on Form 10-K, as amended, and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (SEC), and other reports filed by CMFT, CCIT III and CCPT V with the SEC, copies of which are available on the SECs website, www.sec.gov. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. credit facility with a $30.0 million letter of credit subfacility. Refer to Note 16 - 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. The DI Wire is the definitive news source for the illiquid alternative investment industry. 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 . Share Redemption? 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. 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. Press Releases Events & Presentations. Its segments include Credit and Real estate. September 30, 2022 and 2021 was $125.4 million and $97.5 million, respectively. 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). 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