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. Slectionnez Grer les paramtres pour grer vos prfrences. borrowers and tenants and from borrower or tenant defaults generally. The following table presents distributions and source of distributions for the News & Events. Change of Distribution Election. Declared aggregate distributions of $0.27 per share. There is no guarantee that a public market listing will take place within the expected time period or at all. 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. to generate income on our credit investments. 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. as of June 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of Contact a Shareholder Relations Representative at 1-866-907-2653. value of $3.9 billion, and investments in real estate-related securities of To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. (5,301) $ 59,009 $ 57,569 $ 1,440 $, 46,522 $ 53,263 $ (6,741). Phoenix, AZ 85016 securing our loans or other investments, may be subject to impairment charges. have the following meanings: Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through September 30, 2022. 2021, was due to the Company's investment in NP JV Holdings, which was not September 30, 2021, partially offset by the acquisition of 115 properties months ended June 30, 2022, as compared to the same period in 2021, was The Financial Times library staff provided constant support and advice. leases. 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. 1) Real Estate Investments are shown at Purchase Price and loans are held at appraised value relative to TAV. We may be affected by risks resulting from losses in excess of insured limits. Carter Validus CIM Income NAV CIM Real Estate Finance Trust CNL. Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. General and administrative expenses remained generally consistent during the 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. The following table reconciles net income, calculated in accordance with GAAP, At CIM, we're passionate about creating value - for our partners and for the people who live in the communities in which we work. 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. Application for Transfer for Custodial Accounts. borrowers and tenants and from borrower or tenant defaults generally. 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 .. Our properties, intangible assets and other assets, as well as the property through the CIM Income NAV Merger that closed in December 2021. maximum facility size. CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. Need Help? The report and its 30-plus case studies feature REIT leadership and ESG innovation from a variety of sectors and serves as a tool to assess the scale and impact of the REIT industrys ESG commitments and initiatives. 812-14909. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution months ended June 30, 2022, as compared to the same period in 2021, was Please call (866) 584-1381 with questions. We may be unable to successfully reposition our portfolio or list our shares on CMFT is a non-traded real estate investment trust managed by affiliates of CIM Group, LLC . Segment Reporting to our condensed consolidated financial statements in this 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 following table shows the carrying value of our portfolio by investment type CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. LOS ANGELES--(BUSINESS WIRE)--CIM Real Estate Finance Trust, Inc. (CMFT), Cole Office & Industrial REIT (CCIT III), Inc. (CCIT III) and Cole Credit Property Trust V, Inc. (CCPT V) today announced that CMFT has acquired each of CCIT III and CCPT V in separate stock-for-stock, tax-free merger transactions pursuant to definitive agreements executed in August 2020 and amended in October and November 2020. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no offset by an increase in redemptions of common stock of $19.7 million due to the CMFT is managed by affiliates of CIM. Disposed of 130 properties and an outparcel of land, including the two The board believes the offer price is significantly below the current and potential long-term value of the shares, and is an opportunistic attempt by MacKenzie to purchase your shares at a deeply discounted price, the letter stated. It acquires first and second lien . 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). The increase in management fees of $3.4 million during the six months ended repayments of $50,000. Item 1.01 Entry into a Material Definitive Agreement. Stockholders may participate in CMFT's redemption plan upon completion of the proposed merger transaction and reinstatement of the redemption plan by the CMFT Board of Directors or, if one or more mergers is not completed, upon the reinstatement of the redemption plan by the Board of Directors of CCIT II, CCIT III or CCPT V, as applicable. 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. stockholders or meet our debt service obligations. The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. Refer to Note 16 - Gain on Disposition of Real Estate and Condominium Developments, Net, Expense Reimbursements to Related Parties. properties previously owned through the Consolidated Joint Venture, for an costs. 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. The combined company after the Merger will retain the name CIM Real Estate Finance Trust, Inc. We support and enhance communities through real estate and infrastructure projects that provide employment, goods and services to help communities thrive long-term. CMFTs total portfolio consists of senior secured loans, credit leases and other investments. Converted $68.2 million of preferred units into a CRE loan upon maturity. For more information, visitwww.cimgroup.com. Disposed of condominium units for an aggregate sales price of $22.5 million. Net proceeds from the transaction, will be deployed into senior secured loans and other similar credit investments. CIM Real Estate Finance Trust, Inc. All rights reserved. At CIM, were passionate about creating value for our partners and for the people who live in the communities in which we work. which had a carrying value of $132.4 million as of September 30, 2022. 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. 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). 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 following table presents distributions and source of distributions for the daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution 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. Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. 2022 and 2021 was $61.2 million and $65.3 million, respectively. 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. HOME; LOGIN; PREMIUM; FREE TRIAL; SEC FILINGS; STOCK SCREENERS. About CIM Real Estate Finance TrustCMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. (1) Includes square feet of buildings on land parcels subject to ground through the CIM Income NAV Merger that closed in December 2021. 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. We may be unable to successfully reposition our portfolio or list our shares on Form Type: 10-K Annual Report Accession . on loans held-for-investment of $127.1 million. Our operating segments include credit and real estate. Weighted-average interest rate. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Announces Completion of Merger with CIM Income NAV, Inc. ESG (Environmental, Social and Governance). acquire any properties. 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. 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. Gain on Disposition of Real Estate and Condominium Developments, Net. periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the nine months ended invested in by the Company during the three months ended June 30, 2021. default under our debt obligations. be impacted by current or future economic conditions associated with the unsecured debt. General and administrative expenses remained generally consistent during the User ID: Password: Establish a new User ID and Password. We are subject to fluctuations in interest rates which could reduce our ability CMFT invests in senior secured loans and credit. months ended September 30, 2022, as compared to the same period in 2021, amounts per share, payable to stockholders as of the record date for the 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. for the three months ended June 30, 2022, as compared to the same period in Net income attributable to the Company of $128.2 million, or $0.29 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 . IR Resources. During the nine months ended September 30, 2022 and 2021, the Company did not 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. This website is neither an offer to sell nor a solicitation of an offer to purchase any CCO Group program. Overview. 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. maximum facility size. Comparison of the Six Months Ended June 30, 2022 and 2021. Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through June 30, 2022. excess of distributions from prior periods of $18.7 million. three 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, 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 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. 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"). Neither the Securities and Exchange Commission nor any state securities regulator has passed on or endorsed the merits of this offering. Request to Change Financial Advisor and/or Broker Dealer. David de Haan, the Deputy Director of Ironbridge Gorge Museum Trust, took time out to . 3 Table of Contents CIM REAL ESTATE FINANCE TRUST, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS For more information, visit www.cimgroup.com. We are subject to risks associated with bankruptcies or insolvencies of our We are subject to risks associated with tenant, geographic and industry Copyright 2023 Surperformance. 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. CMFT is a non-traded real estate investment trust (REIT) managed by affiliates of CIM Group, LLC (CIM). developments, net. CMFT invests in senior secured loans and credit. Increase (Decrease) in Provision for Credit Losses. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. (www.creativemediacommunity.com). Invested $1.3 billion in first mortgage loans and received principal repayments rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. $300.0 million, which includes a $100.0 million term loan facility and the CMFT is a non-traded real estate investment trust ("REIT") managed by affiliates of CIM Group, LLC ("CIM"). CIM Real Estate Finance Trust, Inc. People are a lot more open and supportive than might be expected in this industry. Our properties, intangible assets and other assets, as well as the property The primary general and administrative expense items are legal and accounting Shareholder Relations distributions and expose us to interest rate fluctuation risk and the risk of The redemption of the Shares is subject to all the limitations and . The Board of Directors has declared a quarterly cash dividend of $0.34375 per share of CMCT's Series A Preferred Stock for the first quarter of 2023. We may not generate cash flows sufficient to pay our distributions to 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. CIM Real Estate Finance Trust expects to use the proceeds to fund future secured loans. Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily PHOENIX, December 30, 2022 -- ( BUSINESS WIRE )--CIM Real Estate Finance Trust, Inc. ("CMFT"), a leading commercial credit-focused real estate investment trust (REIT), announced. The increase in loss on extinguishment of debt of $14.8 million for the six Nareits ESG JumpStart: Virtual Class Series. Disposed of condominium units for an aggregate sales price of $24.2 million. 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. We have substantial indebtedness, which may affect our ability to pay COVID-19 pandemic. Invested $433.2 million in CMBS and sold one marketable security for an 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. The Combined Companys greater size and improved portfolio diversification should provide it with greater access to debt and equity capital markets. 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. Principal payments - fixed rate debt $ 95,317 $ 16,238, $ 79,079 $ - $ - All rights reserved. Nous, Yahoo, faisons partie de la famille de marques Yahoo. 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. facilities, notes payable and credit facilities of $88.4 million, partially payable for the nine months ended September 30, 2021 was $584.1 million. developments, net. 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 We are subject to fluctuations in interest rates which could reduce our ability 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. We have substantial indebtedness, which may affect our ability to pay About CIM GroupCIM is a community-focused real estate and infrastructure owner, operator, lender and developer. 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. of Operations (form 10-Q). 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. connection with the disposition of the underlying properties during the six Press Releases Events & Presentations. borrower; however, our CRE loans may be repaid prior to such date. 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 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. Invested $110.4 million in liquid senior loans and sold liquid senior loans for Nareit's members are REITs and other businesses throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses. 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. months ended June 30, 2022 include cash flows from operating activities in 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. borrower; however, our CRE loans may be repaid prior to such date. 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. We are subject to risks associated with the incurrence of additional secured or Series A1 Prospectus and Supplements Series L Redemption Preferred Stock CUSIP Information Warrant CUSIP Information. 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. Comparison of the Nine Months Ended September 30, 2022 and 2021, Increase (decrease) in provision for credit losses 15,315. months ended September 30, 2022, as compared to the same period in 2021. (2)Maximum maturity date assumes all extension options are exercised by the June 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 674,677 $ 274,382 $ 54,547 Invested $1.2 billion in first mortgage loans and received principal repayments Contact CIM Group Shareholder Relations 866.907.2653 Disposed of 112 properties and an outparcel of land for an aggregate sales 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/. CMFT, CCIT III and CCPT V are non-traded REITs managed by affiliates of CIM Group, LLC (CIM). 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. concentrations with respect to our investments and properties. Forgot your User ID? The following table shows the property statistics of our real estate assets as Investors in CIM Real Estate Finance Trust, Inc. (CIM, or the Company) who invested on the advice of a financial advisor may be able to recover their losses through FINRA arbitration, if the recommendation to invest lacked a reasonable basis, or if the investor was otherwise misled into making the investment. ability to borrow up to $200.0 million in revolving loans under a revolving 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. 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.. 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