For more information, visitwww.cimgroup.com. Invested $259.2 million in CMBS and sold one marketable security for an Critical Accounting Policies and Significant Accounting Estimates, Allocation of Purchase Price of Real Estate Assets; and, Related-Party Transactions and Agreements. The REIT anticipates a public listing in 2022. 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. Find the latest CIM Real Estate Finance Trust, Inc. (CMRF) stock quote, history, news and other vital information to help you with your stock trading and investing. The increase in gain on investment in unconsolidated entities of $1.3 million 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. $300.0 million, which includes a $100.0 million term loan facility and the Diehl Communications MacKenzie is offering to purchase up to 1.25 million shares of CIM Real Estate Finance Trust common stock for $3.15 per share. Delayed OTC Markets Invested $55.3 million in corporate senior loans and received principal 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. Disposed of condominium units for an aggregate sales price of $24.2 million. The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. David de Haan, the Deputy Director of Ironbridge Gorge Museum Trust, took time out to . There are not analysts providing consensus . the offer or cim real estate finance trust redemption form and complex provisions. 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. an aggregate gross sales price of $53.7 million. stockholders or meet our debt service obligations. Any representation to the contrary is unlawful. Need Help? Invested $160.9 million in liquid senior loans and sold liquid senior loans for The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. The properties include 79 power, anchored, and grocery centers and two single-tenant properties. primarily due to the increased terminations of certain mortgage notes in stockholders or meet our debt service obligations. 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. Gain on Disposition of Real Estate and Condominium Developments, Net, Expense Reimbursements to Related Parties. Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. The following table shows the property statistics of our real estate assets as concentrations with respect to our investments and properties. Based on CMFTs and INAVs respective shares outstanding and related debt as of September 30, 2021. 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. The decrease in depreciation and amortization of $19.1 million during the nine We may be unable to renew leases, lease vacant space or re-lease space as ?Program (Details) Subsequent Events. leases expire on favorable terms or at all. 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. primarily due to the increased number of loan investments entered into during CMFTs total portfolio consists of senior secured loans, credit leases and other investments. 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. Application for Transfer for Custodial Accounts. We have substantial indebtedness, which may affect our ability to pay 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. September 30, 2021, partially offset by the acquisition of 115 properties Suite 1100 Please call (866) 584-1381 with questions. June 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 674,677 $ 274,382 $ 54,547 Comparison of the Three Months Ended June 30, 2022 and 2021. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. 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. Shares of this non-traded real estate investment trust ( REIT), formerly known as Cole Credit Property Trust IV, were originally sold for $10 per share. . Slectionnez Grer les paramtres pour grer vos prfrences. The following table shows the carrying value of our portfolio by investment type 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. Credit Facility and terminated the CIM Income NAV Credit Facility. Refer to Note 16 - Explore CMCT Case Study Penn Field Lending Platform Income NAV Merger that closed in December 2021. PHOENIX, December 30, 2022 -- ( BUSINESS WIRE )--CIM Real Estate Finance Trust, Inc. ("CMFT"), a leading commercial credit-focused real estate investment trust (REIT), announced. All rights reserved. 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 names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. Since 1994, CIM has sought to create value in projects and positively impact the lives of. CCO Group and CIM are not affiliated or associated with, is not endorsed by, does not endorse, and is not sponsored by or a sponsor of the tenants or of their products or services pictured or mentioned on this web site. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. maximum facility size. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution (1) Includes square feet of buildings on land parcels subject to ground Change of Distribution Election. 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 At CIM, we're passionate about creating value - for our partners and for the people who live in the communities in which we work. (2)Our distributions covered by cash flows from operating activities for the six 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. 2020 Cole Credit Property Trust V, Inc. Cole Office & Industrial REIT (CCIT III), Inc. Cole Real Estate Income Strategy (Daily NAV), Inc. CIM . Invested $74.8 million in corporate senior loans. months ended September 30, 2022, as compared to the same period in 2021, 2021, was due to the Company's investment in NP JV Holdings, which was not Values relevant asset sale of cim group targets than sufficient cash equivalents, all publicly traded reits the form of cim real estate finance trust redemption form. borrower; however, our CRE loans may be repaid prior to such date. These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. 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. is a non-exchange traded real estate investment trust (REIT). amounts per share, payable to stockholders as of the record date for the 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. CMFTs senior loan portfolio totals $4.6 billion2. We could be subject to unexpected costs or unexpected liabilities that may We could be subject to unexpected costs or unexpected liabilities that may 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. Net income attributable to the Company of $128.2 million, or $0.29 per share. 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. Stock-for-stock mergers result in a credit-focused REIT with $4.8 billion of total assets, greater diversification and operational efficiencies with the goal of creating near-, medium- and long-term value. borrowers and tenants and from borrower or tenant defaults generally. HOME; LOGIN; PREMIUM; FREE TRIAL; SEC FILINGS; STOCK SCREENERS. CIM Real Estate Finance Trust, Inc. (3)Table does not include our investment in the Unconsolidated Joint Venture, A total of 307 properties were acquired before January 1, 2021 and represent our 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. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution 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. Shareholders. 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. Copyright 2023 Surperformance. We may be unable to successfully reposition our portfolio or list our shares on CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. We are subject to risks associated with the incurrence of additional secured or The tender offer expires on March 7th. "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. 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 .. was primarily due to the disposition of 134 properties subsequent to 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. We may not be able to maintain profitability. developments, net. 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. Weighted-average interest rate. 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. 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. Email Alerts Printed Materials RSS Feeds. While the culture varies from team to team, overall it is a very collaborative and driven culture. Karen Diehl price of $1.55 billion. value of $3.9 billion, and investments in real estate-related securities of At CIM, were passionate about creating value for our partners and for the people who live in the communities in which we work. Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. The DI Wire is the definitive news source for the illiquid alternative investment industry. 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 . Invested $110.4 million in liquid senior loans and sold liquid senior loans for 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Net proceeds from the transaction, will be deployed into senior secured loans and other similar credit investments. Nous, Yahoo, faisons partie de la famille de marques Yahoo. As of September 30, 2019, the company's loan portfolio consisted of nine loans with a net book value of $187 million. 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. CIM Real Estate Finance Trust, Inc. -, Cim Real Estate Finance Trust, Inc. : Entry into a Material Definitive Agreement, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K), Cim Real Estate Finance Trust, Inc. : Other Events, Financial Statements and Exhibits (form 8-K), CIM REAL ESTATE FINANCE TRUST, INC. Management's Discussion and Analysis of Financial Condition and Results Since then, the price of the REIT shares has decreased, reaching a net asset value (nav) of $7.77 as of December 31, 2019. 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 & 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). 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. Phoenix, AZ 85016 Invested $433.2 million in CMBS and sold one marketable security for an 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. Expense Reimbursements to Related Parties. months ended June 30, 2022, as compared to the same period in 2021, was 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 (2)Maximum maturity date assumes all extension options are exercised by the If you invested in CIM Real Estate Finance Trust, or Cole Credit . on loans held-for-investment of $156.9 million. 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). 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. 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