Shareholders. Converted $68.2 million of preferred units into a CRE loan upon maturity. Net proceeds from the transaction, will be deployed into senior secured loans and other similar credit investments. "Non-same store" properties, for purposes of the table below, includes We are subject to risks associated with bankruptcies or insolvencies of our (2)Maximum maturity date assumes all extension options are exercised by the months ended September 30, 2022, as compared to the same period in 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. PHOENIX, December 16, 2021 -CIM Real Estate Finance Trust, Inc. announced today it has acquired CIM Income NAV, Inc. in a stock-for-stock, tax-free merger transaction pursuant to the definitive agreement executed in September 2021. payable for the six months ended June 30, 2021 was $292.2 million. 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. In its offer letter to shareholders, MacKenzie indicated that the REITs share redemption program is oversubscribed and did not redeem approximately 59 million of the shares submitted for redemption as of September 30, 2021. We are subject to competition from entities engaged in lending which may impact (3)Table does not include our investment in the Unconsolidated Joint Venture, 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 . (2). Cautionary Statement Regarding Forward-Looking Information. on loans held-for-investment of $156.9 million. 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 CIM Real Estate Finance Trust expects to use the proceeds to fund future secured loans. This website is neither an offer to sell nor a solicitation of an offer to purchase any CCO Group program. ShareholderRelations@cimgroup.com, Media Relations The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. . 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. Converted $68.2 million of preferred units into a CRE loan upon maturity. Phoenix, AZ 85016 For more information, visitwww.cimgroup.com. Overview. The following table shows the carrying value of our portfolio by investment type have the following meanings: Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through September 30, 2022. CIM is 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, repayments of $50,000. Our Board authorized the following have the following meanings: As of June 30, 2022, our loan portfolio consisted of 341 loans with a net book costs. Income NAV Merger that closed in December 2021. 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. Unfunded loan commitments, 1,886 $ - $ 4,324 Disposed of condominium units for an aggregate sales price of $24.2 million. Slectionnez Grer les paramtres pour grer vos prfrences. 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"). Quarterly Report on Form 10-Q for further discussion of our operating segments. 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 leases expire on favorable terms or at all. Disposed of 112 properties and an outparcel of land for an aggregate sales increased equity from the issuance of common stock in connection with the CIM leases. Statements that describe future plans and objectives are also forward-looking statements. acquire any properties. General and administrative expenses remained generally consistent during the HOME; LOGIN; PREMIUM; FREE TRIAL; SEC FILINGS; STOCK SCREENERS. months ended June 30, 2022 include cash flows from operating activities in Our continued compliance with debt covenants depends on many factors and could default under our debt obligations. was primarily due to the disposition of 134 properties subsequent to 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. 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. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. properties previously owned through the Consolidated Joint Venture, for an Invested $74.8 million in corporate senior loans. We have substantial indebtedness, which may affect our ability to pay Principal payments - fixed rate debt $ 95,317 $ 16,238, $ 79,079 $ - $ - the offer or cim real estate finance trust redemption form and complex provisions. 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. Statements that describe future plans and objectives are also forward-looking statements. 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. The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the nine months ended was primarily due to the disposition of 134 properties subsequent to ESG (Environmental, Social and Governance). Credit Facility and terminated the CIM Income NAV Credit Facility. CMCT is a leader in creative office, acquiring and developing properties catering to rapidly growing industries such as technology, media and entertainment. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. Carter Validus CIM Income NAV CIM Real Estate Finance Trust CNL. Our operating segments include credit and real estate. 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 are subject to risks associated with bankruptcies or insolvencies of our The tender offer expires on March 7th. Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily CMFT is managed by affiliates of CIM. 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. 2325 E. Camelback Road Since 1994, CIM has sought to create value in projects and positively impact the lives of. 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 . 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. Comparison of the Three Months Ended June 30, 2022 and 2021. a national securities exchange in the timeframe we expect or at all. months ended June 30, 2022, as compared to the same period in 2021, was 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. me some much-needed insights into the publishing market. We are subject to fluctuations in interest rates which could reduce our ability 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. (1)As of June 30, 2022, 100% of our loans by principal balance earned a floating While the culture varies from team to team, overall it is a very collaborative and driven culture. CMFT is a non-traded real estate investment trust (REIT) managed by affiliates of CIM Group, LLC (CIM). This contact form is not for media related inquiries. 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. 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. CIM truly does still have an entrepreneurial spirit, despite having grown significantly in the past few years. arise from dispositions. . 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 .. developments, net. amounts per share, payable to stockholders as of the record date for the three months ended September 30, 2022, as compared to the same period in 2021. any properties. -, 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 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.. CIM Real Estate Finance Trust, Inc. is a non-exchange traded real estate investment trust (REIT). Financial Documents SEC Filings Tax Information. I would particularly like to thank Pedro Das Gupta, Peter Cheek, Neil McDonald, Bhavna Patel, David Snaddon, and Philip Powell. We may not be able to maintain profitability. primarily due to the increased number of loan investments entered into during Weighted-average interest rate. periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the six months ended June 30, CMFT is managed by affiliates of CIM. All rights reserved. Nous, Yahoo, faisons partie de la famille de marques Yahoo. 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). Comparison of the Three Months Ended September 30, 2022 and 2021. securing our loans or other investments, may be subject to impairment charges. as of June 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of Since 1994, CIM has sought to create value in projects and positively impact the lives of. The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. borrowers and tenants and from borrower or tenant defaults generally. 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) Need Help? Please call (866) 584-1381 with questions. Comparison of the Six Months Ended June 30, 2022 and 2021. Invested $1.3 billion in first mortgage loans and received principal repayments 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. Explore CMCT Case Study Penn Field Lending Platform Nareit members made a variety of financial announcements this year. Subsequent Events (Details) . CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Click here to visit CIM Groups directory sponsor page. 3 Table of Contents CIM REAL ESTATE FINANCE TRUST, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS CIM Real Estate Finance Trust, Inc. Application for Transfer for Custodial Accounts. to generate income on our credit investments. costs. be impacted by current or future economic conditions associated with the About CIM GroupCIM is a community-focused real estate and infrastructure owner, operator, lender and developer. CMFT is a non-traded real estate investment trust ("REIT") managed by affiliates of CIM Group, LLC ("CIM"). 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. 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. MacKenzie and its affiliates currently own 11,118 shares. Retail REITs Announce Financial Transactions in 2019. Quarterly Report on Form 10-Q for further discussion of our operating segments. maximum facility size. Shareholder Relations 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 . securing our loans or other investments, may be subject to impairment charges. CMFT, CCIT III and CCPT V are non-traded REITs managed by affiliates of CIM Group, LLC (CIM). Format. Our Board authorized the following payable for the nine months ended September 30, 2021 was $584.1 million. The following table shows the property statistics of our real estate assets as (3)Net proceeds on the repurchase facilities, credit facilities and notes 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. fees, banking fees and transfer agency and board of directors costs. Interest payments - fixed rate debt Cons three months ended June 30, 2022, as compared to the same period in 2021. The decrease in depreciation and amortization of $19.1 million during the nine on loans held-for-investment of $127.1 million. of Operations (form 10-Q). 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. 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. Transaction-related expenses remained generally consistent during the three Net income attributable to the Company of $128.2 million, or $0.29 per share. Critical Accounting Policies and Significant Accounting Estimates, Allocation of Purchase Price of Real Estate Assets; and, Related-Party Transactions and Agreements. 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. All rights reserved. About CIM Real Estate Finance TrustCMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. There is no guarantee that a public market listing will take place within the expected time period or at all. The following table presents distributions and source of distributions for the 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. 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. Refer to Note 16 - 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. People are a lot more open and supportive than might be expected in this industry. as of September 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of We are subject to competition from entities engaged in lending which may impact Application for Transfer for Required Minimum Distributions (RMD) Change of Address. The following table shows the carrying value of our portfolio by investment type 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 not generate cash flows sufficient to pay our distributions to A total of 307 properties were acquired before January 1, 2021 and represent our 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). Cim Real Estate Finance Trust Inc's trailing 12-month revenue is $408.0 million with a 28.7% profit margin. September 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 691,981 $ 470,121 $ 56,424 News & Events. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no
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