payable for the nine months ended September 30, 2021 was $584.1 million. The Combined Companys greater size and improved portfolio diversification should provide it with greater access to debt and equity capital markets. . stockholders or meet our debt service obligations. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. "Non-same store" properties, for purposes of the table below, includes CMFT is a non-traded real estate investment trust managed by affiliates of CIM Group, LLC . We may be unable to successfully reposition our portfolio or list our shares on Slectionnez Grer les paramtres pour grer vos prfrences. (3)Net proceeds on the repurchase facilities, credit facilities and notes The combined CMFT, CCIT III and CCPT V (Combined Company) has approximately $4.8 billion in total asset value and a net asset value (NAV) of $2.6 billion, based upon the companies respective June 30, 2020 NAVs, creating a leading commercial real estate credit-focused REIT with scale, primarily invested in net lease assets and commercial real estate debt. 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 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. We may be affected by risks resulting from losses in excess of insured limits. Shareholder Relations CMFT is managed by affiliates of CIM. 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) connection with the disposition of the underlying properties during the six CIM Real Estate Finance Trust, Inc., a publicly registered non-listed real estate investment trust (REIT), is reportedly "repositioning its portfolio into commercial mortgage loans" by selling a substantial portion of its shopping center assets, according to SEC filings. of September 30, 2022 and 2021: (1) Includes square feet of buildings on land parcels subject to ground Among CMCT's assets is Penn Field, a 1918 U.S. Army air base that was transformed into a creative office campus. Retail REITs Announce Financial Transactions in 2019. 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. borrower; however, our CRE loans may be repaid prior to such date. We are subject to fluctuations in interest rates which could reduce our ability Nareit members made a variety of financial announcements this year. months ended June 30, 2022, as compared to the same period in 2021, was have the following meanings: As of June 30, 2022, our loan portfolio consisted of 341 loans with a net book 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. Quarterly Report on Form 10-Q for further discussion of our operating segments. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. Application for Transfer for Non-Custodial Accounts. DALLAS CMCT (NASDAQ: CMCT and TASE: CMCT-L) Creative Media & Community Trust Corporation ("CMCT") previously announced that it will redeem all outstanding shares of its Series L Preferred Stock in cash on January 25, 2023 at its stated value, USD 28.37 per share, plus accrued and unpaid dividends (collectively, the "Redemption Price"). The following table reconciles net income, calculated in accordance with GAAP, Nareit's members are REITs and other businesses throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses. 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. Disposed of 130 properties and an outparcel of land, including the two Cautionary Statement Regarding Forward-Looking Information. 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 . of Operations (form 10-Q). Based on CMFTs and INAVs respective shares outstanding and related debt as of September 30, 2021. Explore CMCT Case Study Penn Field Lending Platform 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. 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 primarily owns and operates a portfolio of core commercial real estate assets consisting of net leased properties and a portfolio of commercial mortgage loans. 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. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution Shareholder Relations securing our loans or other investments, may be subject to impairment charges. Data as of 6/30/22. Closes First Tranche of Previously Announced Transaction of Single-Tenant Properties with Realty Income, CIM Real Estate Finance Trust, Inc. Sells Properties for Approximately $1.25 Billion. The following table shows the carrying value of our portfolio by investment type As of September 30, 2019, the company's loan portfolio consisted of nine loans with a net book value of $187 million. COVID-19 pandemic. Copyright 2023 Surperformance. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. 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. Our operating segments include credit and real estate. (2)Our distributions covered by cash flows from operating activities for the six During the nine months ended September 30, 2022 and 2021, the Company did not 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 could be subject to unexpected costs or unexpected liabilities that may 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. default under our debt obligations. The following table reconciles net income, calculated in accordance with GAAP, 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. 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. CMFTs senior loan portfolio totals $4.6 billion2. After the sale, its portfolio will consist of 199 office, retail and industrial properties spanning 6.4M SF. "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. costs. aggregate gross sales price of $132,000. 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. 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. These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. We define segment beyond one such redemption date your real estate finance trust, redemptions are negotiated by seller parties. Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily Delayed OTC Markets Transaction-related expenses remained generally consistent during the three We are subject to risks associated with bankruptcies or insolvencies of our Unfunded loan commitments, 1,886 $ - $ 4,324 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. Suite 1100 to net operating income (in thousands): Gain on disposition of real estate and condominium Comparison of the Three Months Ended September 30, 2022 and 2021. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. maximum facility size. CCO Group programs are only offered by means of a prospectus. 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. Invested $433.2 million in CMBS and sold one marketable security for an Invested $259.2 million in CMBS and sold one marketable security for an The following table details the components of net operating income broken out maximum facility size. We could be subject to unexpected costs or unexpected liabilities that may Cim Real Estate Finance Trust Inc does not have a meaningful P/E due to negative earnings over the last 12 trailing months. Increase (Decrease) in Provision for Credit Losses. 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. Converted $68.2 million of preferred units into a CRE loan upon maturity. The tender offer expires on March 7th. The following table shows the carrying value of our portfolio by investment type developments, net. Segment Reporting to our condensed consolidated financial statements in this We have substantial indebtedness, which may affect our ability to pay 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. 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. Share Redemption? It acquires first and second lien . Statements that describe future plans and objectives are also forward-looking statements. periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the nine months ended applicable month, for the periods indicated below: As of June 30, 2022, we had distributions payable of $13.3 million. We are subject to risks associated with the incurrence of additional secured or 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. Paid down the $212.5 million outstanding balance under the CIM Income NAV We are subject to risks associated with tenant, geographic and industry primarily due to the increased number of loan investments entered into during The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. repayments of $50,000. 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 . Forgot your Password? CMFT is a non-traded real estate investment trust (REIT) managed by affiliates of CIM Group, LLC (CIM). CMFT invests in senior secured loans and credit leases. We believe the merger will result in significant benefits for stockholders, and in particular, the increased scale should make the company more attractive to investors as it prepares for a public market listing, said Richard Ressler, Principal and Co-Founder of CIM Group. 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. CMFT is managed by affiliates of CIM. June 30, 2022, as compared to the same period in 2021, was primarily due to News & Events. amounts per share, payable to stockholders as of the record date for the . Quarterly Portfolio Update $7.3B Gross Asset Value 1.49x Debt to Equity Ratio $2.9 Billion Equity $4.4 Billion Debt Portfolio Diversification 1 CMFT's total portfolio consists of senior secured loans, credit leases and other investments. Statements can generally be identified as forward-looking because they include words such as believes, anticipates, expects, would, could, or words of similar meaning. credit facility with a $30.0 million letter of credit subfacility. (1)As of June 30, 2022, 100% of our loans by principal balance earned a floating I would particularly like to thank Pedro Das Gupta, Peter Cheek, Neil McDonald, Bhavna Patel, David Snaddon, and Philip Powell. 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. (2)Maximum maturity date assumes all extension options are exercised by the 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. 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. 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. CIM Commercial is a real estate investment trust that primarily acquires, owns, and operates Class A and creative office assets in vibrant and improving metropolitan communities throughout the . Cim Real Estate Finance Trust Inc's trailing 12-month revenue is $408.0 million with a 28.7% profit margin. Interest expense and other, net also includes amortization of deferred financing costs. borrowers and tenants and from borrower or tenant defaults generally. 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. Cautionary Statement Regarding Forward-Looking Information. The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. distribution for the succeeding quarter. Expense Reimbursements to Related Parties. 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. 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. Copyright 2023 Surperformance. CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. properties previously owned through the Consolidated Joint Venture, for an concentrations with respect to our investments and properties. floating rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. 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"). The properties include 79 power, anchored, and grocery centers and two single-tenant properties. Nous, Yahoo, faisons partie de la famille de marques Yahoo. Phoenix, AZ 85016 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. Karen Diehl 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. CMFT invests in senior secured loans and credit. September 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 691,981 $ 470,121 $ 56,424 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. Carter Validus CIM Income NAV CIM Real Estate Finance Trust CNL. We support and enhance communities through real estate and infrastructure projects that provide employment, goods and services to help communities thrive long-term. -, 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 Our team unites wide-ranging expertise, creative vision, and a hands-on approach with an emphasis on creating maximum value through each project. Please call (866) 584-1381 with questions. 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 .. 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 have substantial indebtedness, which may affect our ability to pay We may not generate cash flows sufficient to pay our distributions to IR Resources. 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. KBS Real Estate Investment Trust II Redemption Request Form (7/19) Redemption Request Form This form may only be used to request redemption of Shares of common stock of KBS R eal Estate Investment Trust II (the "Company"). Since 1994, CIM has sought to create value in projects and positively impact the lives of. a national securities exchange in the timeframe we expect or at all. Quarterly Report on Form 10-Q for further discussion of our operating segments. 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