About CIM Real Estate Finance TrustCMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. We may be affected by risks resulting from losses in excess of insured limits. amounts per share, payable to stockholders as of the record date for the Interest expense and other, net also includes amortization of deferred financing Change of Distribution Election. Unfunded loan commitments, 1,886 $ - $ 4,324 Our Board authorized the following CMCT +2.60% + Free Alerts. an aggregate gross sales price of $53.7 million. We are subject to risks associated with tenant, geographic and industry Application for Transfer for Required Minimum Distributions (RMD) Change of Address. $274.4 million. Change of Transfer on Death. Principal payments - fixed rate debt $ 36,647 $ 443, $ 36,204 $ - $ - ESG (Environmental, Social and Governance). arise from dispositions. Forgot your Password? 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. 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. fees, banking fees and transfer agency and board of directors costs. 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 merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. During the six months ended June 30, 2022 and 2021, the Company did not acquire These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. File No. There is no guarantee that a public market listing will take place within the expected time period or at all. CMFT invests in senior secured loans and credit. months ended September 30, 2022, as compared to the same period in 2021, 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. The remaining net lease portfolio is primarily financed with a long-term, fixed rate asset-backed securitization. maximum facility size. "Non-same store" properties, for purposes of the table below, includes 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. 1-202-739-9400 the six months ended June 30, 2022, as compared to the same period in 2021. Statements that describe future plans and objectives are also forward-looking statements. of Operations (form 10-Q). 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. User ID: Password: Establish a new User ID and Password. Karen Diehl This virtual event features six 90-minute classes about the fundamentals of ESG in commercial real estate. 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. Delayed OTC Markets Neither the Securities and Exchange Commission nor any state securities regulator has passed on or endorsed the merits of this offering. The following table shows the property statistics of our real estate assets as Year-over-year quarterly sales growth most recently was 21.3%. As a result of these relationships, the Company is dependent upon CR IV Advisors and its affiliates. 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. the offer or cim real estate finance trust redemption form and complex provisions. concentrations with respect to our investments and properties. 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. aggregate gross sales price of $132,000. Gain on Disposition of Real Estate and Condominium Developments, Net. Analyze up to 10 years of full 10K Annual Reports and Quarterly 10Q SEC filings for Cim Real Estate Finance Trust, Inc. (CMRF) using our online tools. 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. 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. United States. 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"). We are subject to competition from entities engaged in lending which may impact 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. aggregate sales price of $1.71 billion. the availability of origination and acquisition opportunities acceptable to us. payable for the six months ended June 30, 2021 was $292.2 million. We may not be able to maintain profitability. The redemption of the Shares is subject to all the limitations and . 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. an aggregate gross sales price of $35.6 million. 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 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. Interest payments - fixed rate debt 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). CMFT invests in senior secured loans and credit. 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 . On December 29, 2022 (the "Effective Date"), certain subsidiaries (collectively, the "Seller") of CIM Real Estate Finance Trust, Inc. (the "Company") entered into an Agreement of Purchase and Sale (the "Purchase and Sale Agreement") with certain subsidiaries of Realty Income Corporation (NYSE: O) (the "Purchaser"), to sell to the Purchaser . CCIT III stockholders will receive 1.098 shares of CMFT stock for each CCIT III share and CCPT V stockholders will receive 2.892 shares of CMFT stock for each CCPT V share. The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. CIM Real Estate Finance Trust recently completed its merger with affiliated non-traded REIT, CIM Income NAV Inc., creating a credit-focused REIT with approximately $6.1 billion in enterprise value and more than $3.1 billion in equity value. It acquires first and second lien . Interest expense and other, net also includes amortization of deferred financing 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, Inc., a leading commercial credit-focused real estate investment trust, announced today that it has entered into an agreement to sell 185 non-core, net lease . 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. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. Customer Relationship Summary and Disclosure. Share Redemption? 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. 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 pro forma combined company ("CC CMFT") would have approximately $6.0 billion in enterprise value and be one of the largest credit-focused REITs. 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. (www.creativemediacommunity.com). All rights reserved. Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. We may not be able to maintain profitability. default under our debt obligations. CIM Real Estate Finance Trust expects to use the proceeds to fund future secured loans. Contact CIM Group Shareholder Relations 866.907.2653 Our disciplined approach is applied to every decisionfrom project inception through realizationas we strive to work in the best interests of our stakeholders. Weighted-average interest rate. Shareholders. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. I would particularly like to thank Pedro Das Gupta, Peter Cheek, Neil McDonald, Bhavna Patel, David Snaddon, and Philip Powell. Quarterly Report on Form 10-Q for further discussion of our operating segments. properties acquired or disposed of on or after January 1, 2021. These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. 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"). 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). increased equity from the issuance of common stock in connection with the CIM Segment Reporting to our condensed consolidated financial statements in this Pursuant to the merger agreement, INAV stockholders will receive an approximate 10.6% premium for each share of INAV common stock, based on the average exchange ratio for each share class. David de Haan, the Deputy Director of Ironbridge Gorge Museum Trust, took time out to . Request to Change Financial Advisor and/or Broker Dealer. 3) Loan to Value is shown at time of origination. Forgot your User ID? Provisions do not affiliated transfer. Our operating segments include credit and real estate. Data as of 6/30/22. Invested $74.8 million in corporate senior loans. 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. A total of 307 properties were acquired before January 1, 2021 and represent our --------------------------------------------------------------------------------. This resulted in a borrower; however, our CRE loans may be repaid prior to such date. CMFT is managed by affiliates of CIM. Comparison of the Three Months Ended September 30, 2022 and 2021. 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. Please call (866) 584-1381 with questions. 2022 and 2021 was $61.2 million and $65.3 million, respectively. Press Releases Events & Presentations. 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. Nareit members made a variety of financial announcements this year. any properties. Our continued compliance with debt covenants depends on many factors and could Nous, Yahoo, faisons partie de la famille de marques Yahoo. 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 . The tender offer expires on March 7th. 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. repayments of $50,000. 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. 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. 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. CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. 2325 E. Camelback Road 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. periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the six months ended June 30, Refer to Note 16 - Invested $1.2 billion in first mortgage loans and received principal repayments All rights reserved. months ended June 30, 2022, as compared to the same period in 2021, was Master Repurchase Agreement dated June 4 2020 by and between CMFT. September 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 691,981 $ 470,121 $ 56,424 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 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. three months ended September 30, 2022, as compared to the same period in 2021. We use certain defined terms throughout this Quarterly Report on Form 10-Q that The REIT anticipates a public listing in 2022. Application for Transfer for Custodial Accounts. Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. as of June 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. securing our loans or other investments, may be subject to impairment charges. CIM Real Estate Finance Trust, Inc. is a non-exchange traded real estate investment trust (REIT). The decrease in depreciation and amortization of $19.1 million during the nine Cautionary Statement Regarding Forward-Looking Information. 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.
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