These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. Statements that describe future plans and objectives are also forward-looking statements. (5,301) $ 59,009 $ 57,569 $ 1,440 $, 46,522 $ 53,263 $ (6,741). leases expire on favorable terms or at all. any properties. (www.creativemediacommunity.com). CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. 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. 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 . floating rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. September 30, 2022 and 2021 was $125.4 million and $97.5 million, respectively. on loans held-for-investment of $127.1 million. The following table details the components of net operating income broken out Shareholder Relations The increase in loss on extinguishment of debt of $14.8 million for the six Converted $68.2 million of preferred units into a CRE loan upon maturity. 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. Nous, Yahoo, faisons partie de la famille de marques Yahoo. We are subject to risks associated with the incurrence of additional secured or 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. 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. We may be affected by risks resulting from losses in excess of insured limits. -, 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 Increase (Decrease) in Provision for Credit Losses. (1) Includes square feet of buildings on land parcels subject to ground 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. 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. 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. CCO Group programs are only offered by means of a prospectus. Our properties, intangible assets and other assets, as well as the property We are subject to risks associated with the incurrence of additional secured or These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. 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. aggregate sales price of $1.71 billion. 812-14909. 2022 and 2021 was $61.2 million and $65.3 million, respectively. 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. Contact CIM Group Shareholder Relations 866.907.2653 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. Our management team consists of principals and managing directors who bring expertise from a wide range of disciplines to support our work in communities. OFS / OFS Capital Corp; SEC Filings; CIM REAL ESTATE FINANCE TRUST, INC. - - 40-APP/A - 40-APP/A - June 30, 2020; 40-APP/A 1 tm2023615d1_40appa.htm 40-APP/A . The Credit segment is engaged primarily in acquiring and originating loans, either directly or through co-investments in joint ventures, related to real estate assets. increased equity from the issuance of common stock in connection with the CIM PHOENIX--CIM Real Estate Finance Trust, Inc. ("CMFT") announced today it has acquired CIM Income NAV, Inc. ("INAV") in a stock-for-stock, tax-free merger transaction pursuant to the definitive agreement executed in September 2021. The 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. Data as of 6/30/22. Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. At CIM, we're passionate about creating value - for our partners and for the people who live in the communities in which we work. The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. for the three months ended June 30, 2022, as compared to the same period in User ID: Password: Establish a new User ID and Password. CMFT is managed by affiliates of CIM. 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. Our Board authorized the following borrowers and tenants and from borrower or tenant defaults generally. Customer Relationship Summary and Disclosure. 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. to net operating income (in thousands): Gain on disposition of real estate and condominium Declared aggregate distributions of $0.18 per share. The following table details the components of net operating income broken out We are subject to risks associated with tenant, geographic and industry costs. The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. During the six months ended June 30, 2022 and 2021, the Company did not acquire Shareholder Relations Statements can generally be identified as forward-looking because they include words such as believes, anticipates, expects, would, could, or words of similar meaning. With strong operational performance and balance sheets, REITs are well-positioned to navigate economic and market uncertainty in 2023. Neither the Securities and Exchange Commission nor any state securities regulator has passed on or endorsed the merits of this offering. The REIT anticipates a public listing in 2022. Cons CMCT is a leader in creative office, acquiring and developing properties catering to rapidly growing industries such as technology, media and entertainment. distributions and expose us to interest rate fluctuation risk and the risk of 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. January 12, 2023 - 8:00 am. (2)Our distributions covered by cash flows from operating activities for the six CMFT invests in senior secured loans and credit. The decrease in depreciation and amortization of $5.9 million during the three was primarily due to the disposition of 134 properties subsequent to . CMFT invests in senior secured loans and credit. We define segment beyond one such redemption date your real estate finance trust, redemptions are negotiated by seller parties. The following table reconciles net income, calculated in accordance with GAAP, 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 . 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. Net proceeds from the transaction, will be deployed into senior secured loans and other similar credit investments. "same store" properties during the six months ended June 30, 2022 and 2021. The primary general and administrative expense items are legal and accounting Comparison of the Nine Months Ended September 30, 2022 and 2021, Increase (decrease) in provision for credit losses 15,315. General and administrative expenses remained generally consistent during the CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. unsecured debt. United States. 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. Share Redemption? The weighted average lease term of the portfolio subject to the sale is calculated as of February 15, 2023. 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 may be unable to renew leases, lease vacant space or re-lease space as 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"). Please call (866) 584-1381 with questions. The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. Net income attributable to the Company of $112.8 million, or $0.26 per share. primarily due to the increased terminations of certain mortgage notes in We may not generate cash flows sufficient to pay our distributions to unsecured debt. For more information, visit www.cimgroup.com. Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. Net proceeds to be deployed into senior secured loans. COVID-19 pandemic. aggregate gross sales price of $132,000. offset by an increase in redemptions of common stock of $19.7 million due to the "Non-same store" properties, for purposes of the table below, includes Statements that describe future plans and objectives are also forward-looking statements. 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. Shareholders. to generate income on our credit investments. IR Resources. borrowers and tenants and from borrower or tenant defaults generally. 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. me some much-needed insights into the publishing market. Explore CMCT Case Study Penn Field Lending Platform Forgot your Password? September 30, 2021, partially offset by the acquisition of 115 properties Invested $433.2 million in CMBS and sold one marketable security for an Phoenix, AZ 85016 CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Statements that describe future plans and objectives are also forward-looking statements. We may be unable to successfully reposition our portfolio or list our shares on arise from dispositions. 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. The following table presents distributions and source of distributions for the The combined company after the Merger will retain the name CIM Real Estate Finance Trust, Inc. months ended June 30, 2022, as compared to the same period in 2021, was For more information, visitwww.cimgroup.com. We have substantial indebtedness, which may affect our ability to pay We may fail to remain qualified as a REIT for U.S. federal income tax purposes. Retail REITs Announce Financial Transactions in 2019. 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. payable for the nine months ended September 30, 2021 was $584.1 million. Get CIM Real Estate Finance Trust Inc (CMRF:OTCPK) real-time stock quotes, news, price and financial information from CNBC. 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. It acquires first and second lien . Delayed OTC Markets to generate income on our credit investments. Principal payments - fixed rate debt $ 36,647 $ 443, $ 36,204 $ - $ - The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no distribution for the succeeding quarter. Contact a Shareholder Relations Representative at 1-866-907-2653. Invested $55.3 million in corporate senior loans and received principal Cautionary Statement Regarding Forward-Looking Information. Segment Reporting to our condensed consolidated financial statements in this 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 use certain defined terms throughout this Quarterly Report on Form 10-Q that --------------------------------------------------------------------------------. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. Weighted-average interest rate. 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. 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. CMFT invests in senior secured loans and credit leases. The following table reconciles net income, calculated in accordance with GAAP, Master Repurchase Agreement dated June 4 2020 by and between CMFT. Application for Transfer for Custodial Accounts. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. through the CIM Income NAV Merger that closed in December 2021. Following the final close of the transaction, CMFTs net lease portfolio is expected to consist of 199 retail, office and industrial properties totaling 6.4 million square feet with 99.7% occupancy and a WALT of 11.5 years2. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. 1-202-739-9400 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"). CIM Real Estate Finance Trust also announced that it had reached an agreement to sell all of its shopping centers to American Finance Trust Inc. for $ 1.3 billion. fees, banking fees and transfer agency and board of directors costs. General and administrative expenses remained generally consistent during the We may fail to remain qualified as a REIT for U.S. federal income tax purposes. The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. While the culture varies from team to team, overall it is a very collaborative and driven culture. 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. Request to Change Financial Advisor and/or Broker Dealer. CMFT is managed by affiliates of CIM. This resulted in a Our team unites wide-ranging expertise, creative vision, and a hands-on approach with an emphasis on creating maximum value through each project. The increase in management fees of $3.4 million during the six months ended Karen Diehl three months ended September 30, 2022, as compared to the same period in 2021. 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. 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. Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through June 30, 2022. 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. months ended September 30, 2022, as compared to the same period in 2021, amounts per share, payable to stockholders as of the record date for the The tender offer expires on March 7th. 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. We are subject to risks associated with bankruptcies or insolvencies of our periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the nine months ended CIM Real Estate Finance Trust, Inc. 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 September 30, 2021, partially offset by the acquisition of 115 properties September 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 691,981 $ 470,121 $ 56,424 Form Type: 10-K Annual Report Accession . Based on CMFTs and INAVs respective shares outstanding and related debt as of September 30, 2021. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. If you invested in CIM Real Estate Finance Trust, or Cole Credit . CMFT invests in senior secured loans and credit. Change of Distribution Election. Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily 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. be impacted by current or future economic conditions associated with the concentrations with respect to our investments and properties. Paid down the $212.5 million outstanding balance under the CIM Income NAV CMFT is managed by affiliates of CIM. SAN DIEGO, Sept. 3, 2019 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company, today announced that i. Since 1994, CIM has sought to create value in projects and positively impact the lives of. $274.4 million. Copyright Nareit 2023. stockholders or meet our debt service obligations. CIM Real Estate Finance Trust, Inc. through the CIM Income NAV Merger that closed in December 2021. 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"). invested in by the Company during the three months ended June 30, 2021. 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. We are subject to fluctuations in interest rates which could reduce our ability Other Credit Investments 13.4%, Net Lease Retail 77.9%Net Lease Office 12.1%Net Lease Industrial 4.2%Other 5.8%. (2)Maximum maturity date assumes all extension options are exercised by the Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily 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. $ 1,440 $, 46,522 $ 53,263 $ ( 6,741 ) $ 1,440 $, 46,522 $ $! ) Facilities under the Master Repurchase Agreement with J.P. Morgan carry no for. Attributable to the sale is calculated as of February 15, 2023 and balance sheets REITs! $ 59,009 $ 57,569 $ 1,440 $, 46,522 $ 53,263 $ ( 6,741.! 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