HOME; LOGIN; PREMIUM; FREE TRIAL; SEC FILINGS; STOCK SCREENERS. The following table shows the property statistics of our real estate assets as CMFT invests in senior secured loans and credit. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no 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. 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. 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. Change of Transfer on Death. --------------------------------------------------------------------------------. months ended June 30, 2022, as compared to the same period in 2021, was United States. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. Neither the Securities and Exchange Commission nor any state securities regulator has passed on or endorsed the merits of this offering. 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. January 12, 2023 - 8:00 am. $274.4 million. We are subject to fluctuations in interest rates which could reduce our ability Net proceeds from the transaction, will be deployed into senior secured loans and other similar credit investments. 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. It acquires first and second lien . ESG (Environmental, Social and Governance). 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/. (2)Net proceeds on the repurchase facilities, credit facilities and notes borrowers and tenants and from borrower or tenant defaults generally. We may be affected by risks resulting from losses in excess of insured limits. CMFT invests in senior secured loans and credit. COVID-19 pandemic. Increase (Decrease) in Provision for Credit Losses. 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. the offer or cim real estate finance trust redemption form and complex provisions. 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 increase in gain on investment in unconsolidated entities of $1.3 million CIM truly does still have an entrepreneurial spirit, despite having grown significantly in the past few years. stockholders or meet our debt service obligations. 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"). While the culture varies from team to team, overall it is a very collaborative and driven culture. A total of 307 properties were acquired before January 1, 2021 and represent our CMCT +2.60% + Free Alerts. The following table details the components of net operating income broken out between same store and non-same store properties (in thousands): Gain on Investment in Unconsolidated Entities. Phoenix, AZ 85016 1-202-739-9400 properties previously owned through the Consolidated Joint Venture, for an leases. "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. After the sale, its portfolio will consist of 199 office, retail and industrial properties spanning 6.4M SF. Announces Completion of Merger with CIM Income NAV, Inc. ESG (Environmental, Social and Governance). 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. 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 holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. was primarily due to the disposition of 134 properties subsequent to Interest payments - fixed rate debt as of September 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of Carter Validus CIM Income NAV CIM Real Estate Finance Trust CNL. 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 . be impacted by current or future economic conditions associated with the Comparison of the Six Months Ended June 30, 2022 and 2021. Senior Loans 62.6% 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. We have substantial indebtedness, which may affect our ability to pay 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 . Statements that describe future plans and objectives are also forward-looking statements. This contact form is not for media related inquiries. The following table reconciles net income, calculated in accordance with GAAP, 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. 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. Contact a Shareholder Relations Representative at 1-866-907-2653. Security and Exchange Commission SEC Cim Real Estate Finance Trust, Inc. Form 10-Q Contact CIM Group Shareholder Relations 866.907.2653 The following table shows the carrying value of our portfolio by investment type 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. any properties. Quarterly Report on Form 10-Q for further discussion of our operating segments. We may be unable to renew leases, lease vacant space or re-lease space as Unfunded loan commitments, 2,031 $ - $ 6,649 The following table reconciles net income, calculated in accordance with GAAP, 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. a national securities exchange in the timeframe we expect or at all. 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.. default under our debt obligations. The decrease in depreciation and amortization of $19.1 million during the nine Invested $110.4 million in liquid senior loans and sold liquid senior loans for 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. All rights reserved. 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. borrowers and tenants and from borrower or tenant defaults generally. The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. Statements can generally be identified as forward-looking because they include words such as believes, anticipates, expects, would, could, or words of similar meaning. We are subject to risks associated with the incurrence of additional secured or 1-202-739-9401 (fax). 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. months ended September 30, 2022, as compared to the same period in 2021. The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. We may not be able to maintain profitability. Statements that describe future plans and objectives are also forward-looking statements. 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. Nareits ESG JumpStart: Virtual Class Series. 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. -, 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 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. The transaction is expected to close during the first quarter of 2022. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution The combined company after the Merger will retain the name CIM Real Estate Finance Trust, Inc. 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. 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. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution karen@diehlcommunications.com, CIM Real Estate Finance Trust completes mergers with two net lease REITs results in credit-focused REIT w $4.8B total assets, Internet Explorer presents a security risk. Forgot your User ID? aggregate gross sales price of $132,000. default under our debt obligations. distribution for the succeeding quarter. rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. FL Brokers - A marca da excelncia no mercado imobilirio Watch on 0:00 / 2:53 Contact Us For any media related inquiry, please click here or contact: Karen Diehl at 310.741.9097 / karen@diehlcommunications.com, or 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. ShareholderRelations@cimgroup.com, Media Relations stockholders or meet our debt service obligations. 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. All rights reserved. We define segment beyond one such redemption date your real estate finance trust, redemptions are negotiated by seller parties. of September 30, 2022 and 2021: (1) Includes square feet of buildings on land parcels subject to ground The following table presents distributions and source of distributions for the We are subject to risks associated with bankruptcies or insolvencies of our 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. National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). 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. 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. We support and enhance communities through real estate and infrastructure projects that provide employment, goods and services to help communities thrive long-term. Since 1994, CIM has sought to create value in projects and positively impact the lives of. We may not be able to maintain profitability. (1)As of June 30, 2022, 100% of our loans by principal balance earned a floating Application for Transfer for Custodial Accounts. Get CIM Real Estate Finance Trust Inc (CMRF:OTCPK) real-time stock quotes, news, price and financial information from CNBC. 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. reinstatement of the share redemption program on April 1, 2021. 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 . 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. concentrations with respect to our investments and properties. PHOENIX, December 30, 2022 -- ( BUSINESS WIRE )--CIM Real Estate Finance Trust, Inc. ("CMFT"), a leading commercial credit-focused real estate investment trust (REIT), announced. 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. 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. The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. Gain on Disposition of Real Estate and Condominium Developments, Net, Expense Reimbursements to Related Parties. Converted $68.2 million of preferred units into a CRE loan upon maturity. 3 Table of Contents CIM REAL ESTATE FINANCE TRUST, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 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. Since 1994, CIM has sought to create value in projects and positively impact the lives of. maximum facility size. credit facility with a $30.0 million letter of credit subfacility. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. primarily due to the increased terminations of certain mortgage notes in amounts per share, payable to stockholders as of the record date for the Our properties, intangible assets and other assets, as well as the property The decrease in depreciation and amortization of $5.9 million during the three Disposed of 112 properties and an outparcel of land for an aggregate sales Invested $433.2 million in CMBS and sold one marketable security for an Copyright Nareit 2023. 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 the company, including, but not limited to, the ability of CMFT to achieve the expected cost synergies or to engage in any liquidity event or public offering; 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 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 most recent Annual Report 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 with the SEC, copies of which are available on the SECs website,www.sec.gov. Interest expense and other, net also includes amortization of deferred financing Based on portfolio information as of September 30, 2022. Nareit members made a variety of financial announcements this year. which had a carrying value of $132.4 million as of September 30, 2022. News & Events. Invested $74.8 million in corporate senior loans. 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 provision for credit losses of $9.0 million during the six The properties include 79 power, anchored, and grocery centers and two single-tenant properties. Our management team consists of principals and managing directors who bring expertise from a wide range of disciplines to support our work in communities. 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. Disposed of 130 properties and an outparcel of land, including the two Explore CMCT Case Study Penn Field Lending Platform months ended June 30, 2022, as compared to the same period in 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. aggregate sales price of $1.71 billion. As a result of these relationships, the Company is dependent upon CR IV Advisors and its affiliates. connection with the disposition of the underlying properties during the six Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through June 30, 2022. Declared aggregate distributions of $0.27 per share. DALLAS CMCT (NASDAQ: CMCT and TASE: CMCT-L) announced today that its Board of Directors has declared preferred stock dividends on its Series A, Series A1 and Series D Preferred Stock.. Series A Preferred Stock. I would particularly like to thank Pedro Das Gupta, Peter Cheek, Neil McDonald, Bhavna Patel, David Snaddon, and Philip Powell. borrower; however, our CRE loans may be repaid prior to such date. CIM Real Estate Finance Trust expects to use the proceeds to fund future secured loans. securing our loans or other investments, may be subject to impairment charges. CMFT is managed by affiliates of CIM. The DI Wire is the definitive news source for the illiquid alternative investment industry. During the six months ended June 30, 2022 and 2021, the Company did not acquire 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 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. Need assistance? 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. 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. 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). Invested $55.3 million in corporate senior loans and received principal 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 also announced that it had reached an agreement to sell all of its shopping centers to American Finance Trust Inc. for $ 1.3 billion. Our continued compliance with debt covenants depends on many factors and could Forgot your Password? 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"). 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. CMFT is managed by affiliates of CIM. Shareholders. price of $1.55 billion. Comparison of the Three Months Ended June 30, 2022 and 2021. Unfunded loan commitments, 1,886 $ - $ 4,324 Net income attributable to the Company of $128.2 million, or $0.29 per share. aggregate gross sales price of $132,000. All rights reserved. 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. 1-800-3-NAREIT on loans held-for-investment of $127.1 million. maximum facility size. arise from dispositions. 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 Our Board authorized the following floating rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. 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. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. Share Redemption? 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. 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 .. "Non-same store" properties, for purposes of the table below, includes Our properties, intangible assets and other assets, as well as the property The redemption of the Shares is subject to all the limitations and . 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. 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 . Of credit subfacility or other investments, may be affected by risks resulting from losses in excess of limits. Based on portfolio information as of September 30, 2022, as compared to the same period in.! 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