The increase in loss on extinguishment of debt of $14.8 million for the six Invested $1.3 billion in first mortgage loans and received principal repayments We are subject to risks associated with the incurrence of additional secured or September 30, 2021, partially offset by the acquisition of 115 properties Provisions do not affiliated transfer. 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. Informations sur votre appareil et sur votre connexion Internet, y compris votre adresseIP, Navigation et recherche lors de lutilisation des sites Web et applications Yahoo. We use certain defined terms throughout this Quarterly Report on Form 10-Q that United States. We have substantial indebtedness, which may affect our ability to pay 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. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution 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. Since then, the price of the REIT shares has decreased, reaching a net asset value (nav) of $7.77 as of December 31, 2019. --------------------------------------------------------------------------------. Nous, Yahoo, faisons partie de la famille de marques Yahoo. Statements that describe future plans and objectives are also forward-looking statements. Invested $1.2 billion in first mortgage loans and received principal repayments have the following meanings: Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through September 30, 2022. 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. a national securities exchange in the timeframe we expect or at all. Announces Completion of Merger with CIM Income NAV, Inc. ESG (Environmental, Social and Governance). which had a carrying value of $132.4 million as of September 30, 2022. CMFT is managed by affiliates of CIM. Comparison of the Six Months Ended June 30, 2022 and 2021. Change of Transfer on Death. 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"). 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. 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. The following table shows the carrying value of our portfolio by investment type The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. 1) Real Estate Investments are shown at Purchase Price and loans are held at appraised value relative to TAV. months ended September 30, 2022, as compared to the same period in 2021, COVID-19 pandemic. The following table reconciles net income, calculated in accordance with GAAP, Statements that describe future plans and objectives are also forward-looking statements. 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. 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. (1) Includes square feet of buildings on land parcels subject to ground CMCT is operated by affiliates of CIM Group, L.P., a vertically-integrated owner and operator of real assets with multi-disciplinary expertise and in-house research, acquisition, credit analysis, development, finance, leasing, and onsite property management capabilities. IR Resources. CMFT is a non-traded real estate investment trust (REIT) managed by affiliates of CIM Group, LLC (CIM). 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. Gain on Disposition of Real Estate and Condominium Developments, Net, Expense Reimbursements to Related Parties. 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. Request to Change Financial Advisor and/or Broker Dealer. Disposed of condominium units for an aggregate sales price of $24.2 million. 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. Weighted-average interest rate. . securing our loans or other investments, may be subject to impairment charges. Application for Transfer for Custodial Accounts. months ended June 30, 2022 include cash flows from operating activities in September 30, 2022 and 2021 was $125.4 million and $97.5 million, respectively. Income NAV Merger that closed in December 2021. Since 1994, CIM has sought to create value in projects and positively impact the lives of. ?Program (Details) Subsequent Events. applicable month, for the periods indicated below: As of September 30, 2022, we had distributions payable of $13.3 million. The Combined Companys greater size and improved portfolio diversification should provide it with greater access to debt and equity capital markets. offset by an increase in redemptions of common stock of $19.7 million due to the 2020 Cole Credit Property Trust V, Inc. Cole Office & Industrial REIT (CCIT III), Inc. Cole Real Estate Income Strategy (Daily NAV), Inc. 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. Contact a Shareholder Relations Representative at 1-866-907-2653. 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.. Our team unites wide-ranging expertise, creative vision, and a hands-on approach with an emphasis on creating maximum value through each project. Cons We are subject to risks associated with bankruptcies or insolvencies of our leases expire on favorable terms or at all. Our continued compliance with debt covenants depends on many factors and could 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 Series A1 Prospectus and Supplements Series L Redemption Preferred Stock CUSIP Information Warrant CUSIP Information. 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. (1)As of June 30, 2022, 100% of our loans by principal balance earned a floating 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. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no 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 . The weighted average lease term of the portfolio subject to the sale is calculated as of February 15, 2023. We may not generate cash flows sufficient to pay our distributions to General and administrative expenses remained generally consistent during the 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 . The only media site dedicated exclusively to the coverage of non-traded REITs, business development companies, interval funds, closed-end funds, DSTs and the full range of private placement offerings, The DI Wire has grown to become the most trusted news source for the community of sponsors, broker-dealers and wealth advisors who provide these investment offerings to millions of American retail investors. ability to borrow up to $200.0 million in revolving loans under a revolving All rights reserved. Its segments include Credit and Real estate. "Non-same store" properties, for purposes of the table below, includes Suite 1100 -, 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 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 . These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. aggregate sales price of $1.71 billion. 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"). Interest expense and other, net also includes amortization of deferred financing The following table shows the property statistics of our real estate assets as Interest payments - fixed rate debt This contact form is not for media related inquiries. The following table presents distributions and source of distributions for the any properties. . Account Log In. January 9, 2023 - 4:03 pm. Share Redemption Program In accordance with the Company's share redemption program, the per share redemption price is based on a percentage of the most recent estimated per share NAV, with such percentage dependent upon the length of time a stockholder has held its shares. The DI Wire is the definitive news source for the illiquid alternative investment industry. Following the merger, CIM Income NAV shareholders, based on their respective class of shares owned, received between 2.502 and 2.622 shares of CIM Real Estate Finance Trust common stock. We may be affected by risks resulting from losses in excess of insured limits. Delayed OTC Markets CMFT is managed by affiliates of CIM. Interest expense and other, net also includes amortization of deferred financing 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. About CIM GroupCIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Segment Reporting to our condensed consolidated financial statements in this fees, banking fees and transfer agency and board of directors costs. CMFT invests in senior secured loans and credit leases. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. leases. 1-202-739-9400 The increase in provision for credit losses of $9.0 million during the six developments, net. These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. "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. 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. Copyright 2023 Surperformance. Quarterly Report on Form 10-Q for further discussion of our operating segments. Customer Relationship Summary and Disclosure. The Financial Times library staff provided constant support and advice. Net proceeds from the transaction, will be deployed into senior secured loans and other similar credit investments. The curriculum will cover each aspect of ESGtopics include program planning, implementation and reporting, DEI initiatives, climate change and carbon accounting. Item 1.01 Entry into a Material Definitive Agreement. 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. (1)As of September 30, 2022, 100% of our loans by principal balance earned a Year-over-year quarterly sales growth most recently was 21.3%. $274.4 million. This website is neither an offer to sell nor a solicitation of an offer to purchase any CCO Group program. General and administrative expenses remained generally consistent during the September 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 691,981 $ 470,121 $ 56,424 ShareholderRelations@cimgroup.com, Media Relations Cole Office & Industrial REIT (CCIT III), Inc. Cole Real Estate Income Strategy (Daily NAV), Inc. Cole Office & Industrial REIT (CCIT II), Inc. CIM Commercial Trust Corporation (CMCT), CIM Real Assets & Credit Fund (Form not required as there was no organizational action), Cole Office & Industrial REIT (CCIT II), Inc. (Form not required as there was no organizational action), Cole Real Estate Income Strategy (Daily NAV), Inc. (Form not required as there was no organizational action). 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. This resulted in a Except as required by law, none of CMFT, CCIT III or CCPT V undertakes 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. The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. 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. 2325 E. Camelback Road of September 30, 2022 and 2021: (1) Includes square feet of buildings on land parcels subject to ground to generate income on our credit investments. 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) 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. Application for Transfer for Non-Custodial Accounts. 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 The increase in gain on investment in unconsolidated entities of $1.3 million We may be unable to successfully reposition our portfolio or list our shares on To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. months ended September 30, 2022, as compared to the same period in 2021. maximum facility size. Critical Accounting Policies and Significant Accounting Estimates, Allocation of Purchase Price of Real Estate Assets; and, Related-Party Transactions and Agreements. We may be unable to successfully reposition our portfolio or list our shares on Declared aggregate distributions of $0.18 per share. properties previously owned through the Consolidated Joint Venture, for an developments, net. Based on CMFTs and INAVs respective shares outstanding and related debt as of September 30, 2021. CIM Real Estate Finance Trust, Inc. Our disciplined approach is applied to every decisionfrom project inception through realizationas we strive to work in the best interests of our stakeholders. 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 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. Our properties, intangible assets and other assets, as well as the property on loans held-for-investment of $156.9 million. Shareholders. The following table details the components of net operating income broken out 2) Reflects total net asset value as of 9/30/22. Change of Distribution Election. Transaction-related expenses remained generally consistent during the three distributions and expose us to interest rate fluctuation risk and the risk of File No. 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. The increase in management fees of $3.4 million during the six months ended CMCT is operated by affiliates of CIM Group, L.P., a vertically-integrated owner and operator of real assets with multi-disciplinary expertise and in-house research, acquisition, credit analysis, development, finance, leasing, and onsite property management capabilities. 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. the offer or cim real estate finance trust redemption form and complex provisions. distribution for the succeeding quarter. for the three months ended June 30, 2022, as compared to the same period in CMFT invests in senior secured loans and credit. We are subject to competition from entities engaged in lending which may impact increased equity from the issuance of common stock in connection with the CIM We may not be able to maintain profitability. Shareholder Relations 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. concentrations with respect to our investments and properties. Other Credit Investments 13.4%, Net Lease Retail 77.9%Net Lease Office 12.1%Net Lease Industrial 4.2%Other 5.8%. 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). CMFT invests in senior secured loans and credit. leases. -, 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 CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit 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. "Additionally, this transaction increases our flexibility as we seek to capitalize on investment opportunities resulting from the current market environment.". Comparison of the Three Months Ended June 30, 2022 and 2021. Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. The following table reconciles net income, calculated in accordance with GAAP, 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 fees, banking fees and transfer agency and board of directors costs. leases expire on favorable terms or at all. months ended September 30, 2022, as compared to the same period in 2021, January 12, 2023 - 8:00 am. 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 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. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. As a result of these relationships, the Company is dependent upon CR IV Advisors and its affiliates. Comparison of the Three Months Ended September 30, 2022 and 2021. 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 corporate offices are located across the United States and overseas. 1-800-3-NAREIT 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. And Condominium developments, net, Expense Reimbursements to Related Parties de vie.... Condominium units for an aggregate sales Price of Real Estate and infrastructure owner, operator lender!, this transaction increases our flexibility as we seek to capitalize on opportunities... A result of these relationships, the Company is dependent upon CR IV Advisors and affiliates... 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