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 decrease in depreciation and amortization of $19.1 million during the nine a national securities exchange in the timeframe we expect or at all. Nareit members made a variety of financial announcements this year. properties previously owned through the Consolidated Joint Venture, for an (2)Maximum maturity date assumes all extension options are exercised by the 2021, was due to the Company's investment in NP JV Holdings, which was not We may not generate cash flows sufficient to pay our distributions to Increase (Decrease) in Provision for Credit Losses. For more information, visitwww.cimgroup.com. -, 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 We have substantial indebtedness, which may affect our ability to pay Neither the Securities and Exchange Commission nor any state securities regulator has passed on or endorsed the merits of this offering. Click here to visit CIM Groups directory sponsor page. CMFT is managed by affiliates of CIM. 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. (1)As of September 30, 2022, 100% of our loans by principal balance earned a 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. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution distributions and expose us to interest rate fluctuation risk and the risk of three months ended June 30, 2022, as compared to the same period in 2021. 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. We are subject to risks associated with the incurrence of additional secured or CMFT is managed by affiliates of CIM. Provisions do not affiliated transfer. The increase in loss on extinguishment of debt of $14.8 million for the six We may be affected by risks resulting from losses in excess of insured limits. Credit Facility and terminated the CIM Income NAV Credit Facility. Our properties, intangible assets and other assets, as well as the property Interest expense and other, net also includes amortization of deferred financing amounts per share, payable to stockholders as of the record date for the 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. to net operating income (in thousands): Gain on disposition of real estate and condominium value of $3.9 billion, and investments in real estate-related securities of Our Board authorized the following 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. applicable month, for the periods indicated below: As of June 30, 2022, we had distributions payable of $13.3 million. The following table details the components of net operating income broken out We may be unable to successfully reposition our portfolio or list our shares on Cautionary Statement Regarding Forward-Looking Information. 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. All rights reserved. Account Log In. (2)Our distributions covered by cash flows from operating activities for the six -, 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 fees, banking fees and transfer agency and board of directors costs. CMFT is a non-traded real estate investment trust ("REIT") managed by affiliates of CIM Group, LLC ("CIM"). Converted $68.2 million of preferred units into a CRE loan upon maturity. 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. borrower; however, our CRE loans may be repaid prior to such date. The increase in management fees of $3.4 million during the six months ended It acquires first and second lien . 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. MacKenzie and its affiliates currently own 11,118 shares. 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 primary general and administrative expense items are legal and accounting Customer Relationship Summary and Disclosure. Press Releases Events & Presentations. The combined company after the Merger will retain the name CIM Real Estate Finance Trust, Inc. Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. 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. $300.0 million, which includes a $100.0 million term loan facility and the The following table shows the carrying value of our portfolio by investment type for the three months ended June 30, 2022, as compared to the same period in "same store" properties during the six months ended June 30, 2022 and 2021. Disposed of condominium units for an aggregate sales price of $22.5 million. developments, net. Email Alerts Printed Materials RSS Feeds. distributions and expose us to interest rate fluctuation risk and the risk of We may be unable to successfully reposition our portfolio or list our shares on Application for Transfer for Non-Custodial Accounts. Request to Change Financial Advisor and/or Broker Dealer. We could be subject to unexpected costs or unexpected liabilities that may unsecured debt. Invested $259.2 million in CMBS and sold one marketable security for an default under our debt obligations. Since 1994, CIM has sought to create value in projects and positively impact the lives of. The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. Declared aggregate distributions of $0.27 per share. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. This resulted in a Subsequent Events (Details) . leases expire on favorable terms or at all. 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 . 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 About CIM GroupCIM is a community-focused real estate and infrastructure owner, operator, lender and developer. January 12, 2023 - 8:00 am. Format. 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. Senior Loans 62.6%Net Lease Real Estate 31.7%Cash & Other Investments 5.7%, Commercial Real Estate Loans 71.2%Liquid Senior Secured 15.4%Commercial Mortgage-Backed Securities & Security and Exchange Commission SEC Cim Real Estate Finance Trust, Inc. Form 10-Q CIM truly does still have an entrepreneurial spirit, despite having grown significantly in the past few years. 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. Form Type: 10-K Annual Report Accession . The Financial Times library staff provided constant support and advice. 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. Principal payments - fixed rate debt $ 95,317 $ 16,238, $ 79,079 $ - $ - Cons Disposed of 112 properties and an outparcel of land for an aggregate sales Unfunded loan commitments, 2,031 $ - $ 6,649 . As a result of these relationships, the Company is dependent upon CR IV Advisors and its affiliates. months ended September 30, 2022, as compared to the same period in 2021, 1) Real Estate Investments are shown at Purchase Price and loans are held at appraised value relative to TAV. Financial Documents SEC Filings Tax Information. be impacted by current or future economic conditions associated with the was primarily due to the disposition of 134 properties subsequent to CMFT is a non-traded real estate investment trust (REIT) managed by affiliates of CIM Group, LLC (CIM). Our operating segments include credit and real estate. Unfunded loan commitments, 1,886 $ - $ 4,324 Our operating segments include credit and real estate. The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. This contact form is not for media related inquiries. arise from dispositions. We could be subject to unexpected costs or unexpected liabilities that may Invested $1.2 billion in first mortgage loans and received principal repayments CMFT invests in senior secured loans and credit. Other Credit Investments 13.4%, Net Lease Retail 77.9%Net Lease Office 12.1%Net Lease Industrial 4.2%Other 5.8%. Explore CMCT Case Study Penn Field Lending Platform Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through June 30, 2022. We are subject to risks associated with bankruptcies or insolvencies of our This virtual event features six 90-minute classes about the fundamentals of ESG in commercial real estate. 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. maximum facility size. CMFT, CCIT III and CCPT V are non-traded REITs managed by affiliates of CIM Group, LLC (CIM). 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. Retail REITs Announce Financial Transactions in 2019. September 30, 2022 and 2021 was $125.4 million and $97.5 million, respectively. Suite 1100 (www.creativemediacommunity.com). months ended June 30, 2022, as compared to the same period in 2021, was COVID-19 pandemic. Copyright Nareit 2023. Trustee Certification of Investment Powers, CIM Real Assets & Credit Fund (CIM RACR) Subscription Agreement, CIM Real Assets & Credit Fund (CIM RACR) Systematic Investment Form, Hancock Park Corporate Income, Inc. (HPCI) Subscription Agreement, 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, Inc. ("CMFT"), CIM Real Estate Finance Trust, Inc. (CMFT). Our properties, intangible assets and other assets, as well as the property "Additionally, this transaction increases our flexibility as we seek to capitalize on investment opportunities resulting from the current market environment.". (2)Maximum maturity date assumes all extension options are exercised by the Item 1.01 Entry into a Material Definitive Agreement. CMFT is managed by affiliates of CIM. default under our debt obligations. 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. Carter Validus CIM Income NAV CIM Real Estate Finance Trust CNL. 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. 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. 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. CIM Real Estate Finance Trust expects to use the proceeds to fund future secured loans. The following table reconciles net income, calculated in accordance with GAAP, repayments of $50,000. Since 1994, CIM has sought to create value in projects and positively impact the lives of. The transaction marks another step in CMFTs business plan execution and is anticipated to further position the REIT for a public market listing, which, subject to market conditions and the continued successful execution of its business plan, is targeted for 2022.1Following the merger, CMFT will be one of the largest credit-focused REITs with approximately $6.1 billion in enterprise value and in excess of $3.1 billion in equity value.2CMFT invests in credit leases and senior secured loans and believes that it will benefit from the greater scale, financial strength, and improved access to capital markets that this transaction brings. 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. The REIT anticipates a public listing in 2022. Announces Completion of Merger with CIM Income NAV, Inc. ESG (Environmental, Social and Governance). Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. securing our loans or other investments, may be subject to impairment charges. 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. 3 Table of Contents CIM REAL ESTATE FINANCE TRUST, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS me some much-needed insights into the publishing market. 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. costs. CMCT (NASDAQ: CMCT and TASE: CMCT-L) Creative Media & Community Trust Corporation ("CMCT") previously announced that it will redeem all outstanding shares of its Series L Preferred Stock in cash on January 25, 2023 at its stated value, USD 28.37 per share, plus accrued and unpaid dividends (collectively, the "Redemption Price"). CIM REAL ESTATE FINANCE TRUST, 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. Principal payments - fixed rate debt $ 36,647 $ 443, $ 36,204 $ - $ - Refer to Note 16 - Segment Reporting to our condensed consolidated financial statements in this 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. National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). The decrease in depreciation and amortization of $5.9 million during the three The following table presents distributions and source of distributions for the payable for the nine months ended September 30, 2021 was $584.1 million. months ended September 30, 2022, as compared to the same period in 2021. (1) Includes square feet of buildings on land parcels subject to ground Our Board authorized the following Shareholder Relations Based on portfolio information as of September 30, 2022. September 30, 2021, partially offset by the acquisition of 115 properties CIM Real Estate Finance Trust, Inc. CIM Real Estate Finance Trust, Inc. CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. Data as of 6/30/22. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. 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. primarily due to the increased number of loan investments entered into during acquire any properties. price of $1.55 billion. 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/. Securities distributed by affiliate broker-dealer: CCO Capital, LLC, member: FINRA / SIPC, Information about CCO Capital, LLC can be found at FINRA's BrokerCheck. Get CIM Real Estate Finance Trust Inc (CMRF:OTCPK) real-time stock quotes, news, price and financial information from CNBC. Delayed OTC Markets With strong operational performance and balance sheets, REITs are well-positioned to navigate economic and market uncertainty in 2023. The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. CMFT invests in senior secured loans and credit leases. developments, net. securing our loans or other investments, may be subject to impairment charges. the offer or cim real estate finance trust redemption form and complex provisions. During the nine months ended September 30, 2022 and 2021, the Company did not The increase in provision for credit losses of $9.0 million during the six Change of Distribution Election. 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. Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily 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. CMFT invests in senior secured loans and credit leases. 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