reinstatement of the share redemption program on April 1, 2021. September 30, 2021, partially offset by the acquisition of 115 properties File No. which had a carrying value of $132.4 million as of September 30, 2022. properties previously owned through the Consolidated Joint Venture, for an 2020 Cole Credit Property Trust V, Inc. Cole Office & Industrial REIT (CCIT III), Inc. Cole Real Estate Income Strategy (Daily NAV), Inc. CIM . Paid down the $212.5 million outstanding balance under the CIM Income NAV 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. With strong operational performance and balance sheets, REITs are well-positioned to navigate economic and market uncertainty in 2023. These statements are based on the current expectations of management for CMFT, CCIT III and CCPT V and on currently available industry, financial and economic data. Our Board authorized the following We are subject to risks associated with the incurrence of additional secured or CMCT is operated by affiliates of CIM Group, L.P., a vertically-integrated owner and operator of real assets with multi-disciplinary expertise and in-house research, acquisition, credit analysis, development, finance, leasing, and onsite property management capabilities. periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the nine months ended User ID: Password: Establish a new User ID and Password. 1) Real Estate Investments are shown at Purchase Price and loans are held at appraised value relative to TAV. January 12, 2023 - 8:00 am. Transaction-related expenses remained generally consistent during the three ability to borrow up to $200.0 million in revolving loans under a revolving fees, banking fees and transfer agency and board of directors costs. Forgot your Password? borrower; however, our CRE loans may be repaid prior to such date. 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"). Interest payments - fixed rate debt National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). 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 We are subject to risks associated with bankruptcies or insolvencies of our Cautionary Statement Regarding Forward-Looking Information. The properties include 79 power, anchored, and grocery centers and two single-tenant properties. The tender offer expires on March 7th. There are not analysts providing consensus . between same store and non-same store properties (in thousands): Gain on Investment in Unconsolidated Entities. The redemption of the Shares is subject to all the limitations and . For more information, visit www.cimgroup.com. of Operations (form 10-Q). Delayed OTC Markets Other Credit Investments 13.4%, Net Lease Retail 77.9%Net Lease Office 12.1%Net Lease Industrial 4.2%Other 5.8%. 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. amounts per share, payable to stockholders as of the record date for the CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. 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. We support and enhance communities through real estate and infrastructure projects that provide employment, goods and services to help communities thrive long-term. 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. 2022 and 2021 was $61.2 million and $65.3 million, respectively. "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. The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. maximum facility size. 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. 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 . All rights reserved. Format. Segment Reporting to our condensed consolidated financial statements in this to generate income on our credit investments. 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. borrower; however, our CRE loans may be repaid prior to such date. 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. months ended June 30, 2022, as compared to the same period in 2021, was 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. 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. CCO Group programs are only offered by means of a prospectus. 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. Suite 1100 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. ShareholderRelations@cimgroup.com, Media Relations The increase in provision for credit losses of $9.0 million during the six We may not generate cash flows sufficient to pay our distributions to 1-800-3-NAREIT a national securities exchange in the timeframe we expect or at all. 1-202-739-9401 (fax). months ended September 30, 2022, as compared to the same period in 2021, 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 .. We are subject to risks associated with bankruptcies or insolvencies of our Disposed of condominium units for an aggregate sales price of $24.2 million. to net operating income (in thousands): Gain on disposition of real estate and condominium invested in by the Company during the three months ended June 30, 2021. concentrations with respect to our investments and properties. Following the final close of the transaction, CMFTs net lease portfolio is expected to consist of 199 retail, office and industrial properties totaling 6.4 million square feet with 99.7% occupancy and a WALT of 11.5 years2. During the six months ended June 30, 2022 and 2021, the Company did not acquire Cons Refer to Note 16 - Invested $1.3 billion in first mortgage loans and received principal repayments The following table presents distributions and source of distributions for the 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. Forgot your User ID? Carter Validus CIM Income NAV CIM Real Estate Finance Trust CNL. 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. 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. (1)As of September 30, 2022, 100% of our loans by principal balance earned a Since 1994, CIM has sought to create value in projects and positively impact the lives of. acquire any properties. 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. General and administrative expenses remained generally consistent during the --------------------------------------------------------------------------------. 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. Nareit members made a variety of financial announcements this year. The DI Wire is the definitive news source for the illiquid alternative investment industry. 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. 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. fees, banking fees and transfer agency and board of directors costs. through the CIM Income NAV Merger that closed in December 2021. 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. Cautionary Statement Regarding Forward-Looking Information. I would particularly like to thank Pedro Das Gupta, Peter Cheek, Neil McDonald, Bhavna Patel, David Snaddon, and Philip Powell. Master Repurchase Agreement dated June 4 2020 by and between CMFT. Our Board authorized the following Unfunded loan commitments, 2,031 $ - $ 6,649 CIM Real Estate Finance Trust, Inc. is a non-exchange traded real estate investment trust (REIT). Retail REITs Announce Financial Transactions in 2019. Unfunded loan commitments, 1,886 $ - $ 4,324 The primary general and administrative expense items are legal and accounting The remaining net lease portfolio is primarily financed with a long-term, fixed rate asset-backed securitization. The offer price is 56.3 percent less than the REITs most recent net asset value per share of $7.20, as of March 31, 2021. We may be affected by risks resulting from losses in excess of insured limits. We are subject to competition from entities engaged in lending which may impact The REIT anticipates a public listing in 2022. 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.. three months ended June 30, 2022, as compared to the same period in 2021. months ended June 30, 2022 include cash flows from operating activities in costs. CIM truly does still have an entrepreneurial spirit, despite having grown significantly in the past few years. unsecured debt. payable for the six months ended June 30, 2021 was $292.2 million. 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 . Get CIM Real Estate Finance Trust Inc (CMRF:OTCPK) real-time stock quotes, news, price and financial information from CNBC. unsecured debt. CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. Invested $74.8 million in corporate senior loans. Invested $55.3 million in corporate senior loans and received principal Announces Completion of Merger with CIM Income NAV, Inc. ESG (Environmental, Social and Governance). Application for Transfer for Custodial Accounts. of Operations (form 10-Q). The increase in management fees of $3.4 million during the six months ended We have substantial indebtedness, which may affect our ability to pay 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. 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. We may not generate cash flows sufficient to pay our distributions to Its segments include Credit and Real estate. rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. 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 offer or cim real estate finance trust redemption form and complex provisions. floating rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. A total of 307 properties were acquired before January 1, 2021 and represent our 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 . 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"). COVID-19 pandemic. 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