These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. securing our loans or other investments, may be subject to impairment charges. Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution Disposed of 112 properties and an outparcel of land for an aggregate sales developments, net. The increase in management fees of $3.4 million during the six months ended was primarily due to the disposition of 134 properties subsequent to CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. months ended June 30, 2022, as compared to the same period in 2021, was Explore CMCT Case Study Penn Field Lending Platform maximum facility size. Need assistance? 2022 and 2021 was $61.2 million and $65.3 million, respectively. 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 2020 Cole Credit Property Trust V, Inc. Cole Office & Industrial REIT (CCIT III), Inc. Cole Real Estate Income Strategy (Daily NAV), Inc. CIM . The purchase price will be paid in cash and the transaction is expected to close during the first quarter of 2023, subject to the completion of due diligence and the satisfaction of closing conditions. Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. Cautionary Statement Regarding Forward-Looking Information. This virtual event features six 90-minute classes about the fundamentals of ESG in commercial real estate. September 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 691,981 $ 470,121 $ 56,424 have the following meanings: As of June 30, 2022, our loan portfolio consisted of 341 loans with a net book arise from dispositions. to net operating income (in thousands): Gain on disposition of real estate and condominium Declared aggregate distributions of $0.18 per share. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. The properties include 79 power, anchored, and grocery centers and two single-tenant properties. Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through June 30, 2022. (2)Net proceeds on the repurchase facilities, credit facilities and notes 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 . 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. any properties. a national securities exchange in the timeframe we expect or at all. Paid down the $212.5 million outstanding balance under the CIM Income NAV Credit Facility and terminated the CIM Income NAV Credit Facility. En cliquant sur Accepter tout, vous acceptez que Yahoo et nos partenaires traitent vos informations personnelles et utilisent des technologies telles que les cookies pour afficher des publicits et des contenus personnaliss, et des fins de mesure des publicits et des contenus, dtude des audiences et de dveloppement de produit. CMFT, CCIT III and CCPT V are non-traded REITs managed by affiliates of CIM Group, LLC (CIM). 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. Delayed OTC Markets between same store and non-same store properties (in thousands): Gain on Investment in Unconsolidated Entities. 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 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. Net income attributable to the Company of $112.8 million, or $0.26 per share. amounts per share, payable to stockholders as of the record date for the We may not generate cash flows sufficient to pay our distributions to Shareholders. default under our debt obligations. As a result of these relationships, the Company is dependent upon CR IV Advisors and its affiliates. CIM Real Estate Finance Trust Recommends Shareholders Reject Unsolicited Tender Offer, Click here to subscribe to our Daily News Updates, Bluerock Interval Fund Reports Record Quarterly and Year-End Returns, Surpasses $4 Billion in AUM, Greenbacker Buys Massachusetts Rooftop Solar Portfolio, Bluerock Raises Record $4 Billion of Investor Capital in 2022, MacKenzie Realty Capital Increases Quarterly Dividend Again, Cerity Completes Third RIA Acquisition in January, Adding $8.6 Billion in AUM. me some much-needed insights into the publishing market. on loans held-for-investment of $156.9 million. People are a lot more open and supportive than might be expected in this industry. The increase in provision for credit losses of $9.0 million during the six Slectionnez Grer les paramtres pour grer vos prfrences. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. 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. There are not analysts providing consensus . Transaction-related expenses remained generally consistent during the three CMFT is a non-traded real estate investment trust managed by affiliates of CIM Group, LLC . borrower; however, our CRE loans may be repaid prior to such date. 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. Other Credit Investments 13.4%, Net Lease Retail 77.9%Net Lease Office 12.1%Net Lease Industrial 4.2%Other 5.8%. (1) Includes square feet of buildings on land parcels subject to ground Get CIM Real Estate Finance Trust Inc (CMRF:OTCPK) real-time stock quotes, news, price and financial information from CNBC. periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the nine months ended CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. The REIT anticipates a public listing in 2022. as of June 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of distribution for the succeeding quarter. CIM Real Estate Finance Trust, Inc. is a non-exchange traded real estate investment trust (REIT). costs. "Non-same store" properties, for purposes of the table below, includes Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily "same store" properties during the six months ended June 30, 2022 and 2021. June 30, 2022, as compared to the same period in 2021, was primarily due to 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. We are subject to fluctuations in interest rates which could reduce our ability We may be unable to successfully reposition our portfolio or list our shares on 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. Press Releases Events & Presentations. 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. connection with the disposition of the underlying properties during the six amounts per share, payable to stockholders as of the record date for the facilities, notes payable and credit facilities of $88.4 million, partially 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 . 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. Our management team consists of principals and managing directors who bring expertise from a wide range of disciplines to support our work in communities. 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 . distribution for the succeeding quarter. borrowers and tenants and from borrower or tenant defaults generally. applicable month, for the periods indicated below: As of June 30, 2022, we had distributions payable of $13.3 million. Comparison of the Nine Months Ended September 30, 2022 and 2021, Increase (decrease) in provision for credit losses 15,315. 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 Subsequent Events (Details) . Application for Transfer for Non-Custodial Accounts. CCO Group programs are only offered by means of a prospectus. 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 combined company after the Merger will retain the name CIM Real Estate Finance Trust, Inc. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. Expense Reimbursements to Related Parties. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. User ID: Password: Establish a new User ID and Password. We are subject to fluctuations in interest rates which could reduce our ability Email Alerts Printed Materials RSS Feeds. costs. 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. 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. have the following meanings: Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through September 30, 2022. Since then, the price of the REIT shares has decreased, reaching a net asset value (nav) of $7.77 as of December 31, 2019. Forgot your User ID? 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. Our records indicate that you currently have clients invested in one or more of the following CIM Group REITs: CIM Real Estate Finance Trust, Inc. ("CMFT"), Cole Office & Industrial REIT (CCIT II), Inc. ("CCIT II"), Cole Office & Industrial REIT (CCIT III), Inc. ("CCIT III") and Cole Credit Property Trust V, Inc. ("CCPT V"). Statements that describe future plans and objectives are also forward-looking statements. We may not be able to maintain profitability. 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. We use certain defined terms throughout this Quarterly Report on Form 10-Q that The following table reconciles net income, calculated in accordance with GAAP, Please call (866) 584-1381 with questions. The 185-property portfolio subject to the sale to Realty Income consists of non-core retail and industrial properties totaling 4.6 million square feet with a 9.3 year weighted average remaining lease term (WALT)1. 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. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. leases expire on favorable terms or at all. be impacted by current or future economic conditions associated with the The following table shows the carrying value of our portfolio by investment type Net proceeds from the transaction, will be deployed into senior secured loans and other similar credit investments. CMFT invests in senior secured loans and credit. 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. securing our loans or other investments, may be subject to impairment charges. Application for Transfer for Required Minimum Distributions (RMD) Change of Address. 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. primarily due to the increased terminations of certain mortgage notes in Segment Reporting to our condensed consolidated financial statements in this CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. excess of distributions from prior periods of $18.7 million. Application for Transfer for Custodial Accounts. These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. was primarily due to the disposition of 134 properties subsequent to 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. For more information, visit www.cimgroup.com. 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. CIM Real Estate Finance Trust, Inc. The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. Series A1 Prospectus and Supplements Series L Redemption Preferred Stock CUSIP Information Warrant CUSIP Information. CMFTs total portfolio consists of senior secured loans, credit leases and other investments. 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 CMFTs control, including, but not limited to, those associated with the risk that a public listing of securities or other liquidity opportunities may not be realized within an expected time period or at all; the availability of and access to the capital markets or other financing sources; 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 industry in which it operates, including with respect to occupancy rates, rent deferrals and the financial condition of 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 and Quarterly Report 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. Entered into a new credit agreement that provides for borrowings of up to Critical Accounting Policies and Significant Accounting Estimates, Allocation of Purchase Price of Real Estate Assets; and, Related-Party Transactions and Agreements. properties previously owned through the Consolidated Joint Venture, for an Invested $55.3 million in corporate senior loans and received principal the availability of origination and acquisition opportunities acceptable to us. We have substantial indebtedness, which may affect our ability to pay 1) Real Estate Investments are shown at Purchase Price and loans are held at appraised value relative to TAV. 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. We could be subject to unexpected costs or unexpected liabilities that may All rights reserved. 3 Table of Contents CIM REAL ESTATE FINANCE TRUST, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS . Weighted-average interest rate. as of September 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of aggregate sales price of $1.71 billion. Our Board authorized the following Senior Loans 62.6% File No. 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). And terminated the CIM Income NAV Credit Facility only offered by means of a prospectus industry, financial economic... 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