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. Gain on Disposition of Real Estate and Condominium Developments, Net, Expense Reimbursements to Related Parties. Assignor and real estate. Cautionary Statement Regarding Forward-Looking Information. Master Repurchase Agreement dated June 4 2020 by and between CMFT. This material must be read in conjunction with a prospectus in order to understand fully all the implications and risks of an offering of securities to which it relates. 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. "same store" properties during the six months ended June 30, 2022 and 2021. properties previously owned through the Consolidated Joint Venture, for an arise from dispositions. The primary general and administrative expense items are legal and accounting Invested $55.3 million in corporate senior loans and received principal September 30, 2022 and 2021 was $125.4 million and $97.5 million, respectively. For 60 years, Nareit has led the U.S. REIT industry by ensuring its members best interests are promoted by providing unparalleled advocacy, investor outreach, continuing education and networking. Any representation to the contrary is unlawful. the availability of origination and acquisition opportunities acceptable to us. offset by an increase in redemptions of common stock of $19.7 million due to the fees, banking fees and transfer agency and board of directors costs. Invested $1.3 billion in first mortgage loans and received principal repayments 2325 E. Camelback Road have the following meanings: As of June 30, 2022, our loan portfolio consisted of 341 loans with a net book We are subject to fluctuations in interest rates which could reduce our ability any properties. Nareit members made a variety of financial announcements this year. User ID: Password: Establish a new User ID and Password. developments, net. Expense Reimbursements to Related Parties. All rights reserved. CIM Real Estate Finance Trust, Inc. About CIM GroupCIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Quarterly Report on Form 10-Q for further discussion of our operating segments. Transaction-related expenses remained generally consistent during the three as of September 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of price of $1.55 billion. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. CMCT +2.60% + Free Alerts. Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily We could be subject to unexpected costs or unexpected liabilities that may Comparison of the Three Months Ended June 30, 2022 and 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. 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. payable for the six months ended June 30, 2021 was $292.2 million. During the six months ended June 30, 2022 and 2021, the Company did not acquire Copyright Nareit 2023. periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the nine months ended on loans held-for-investment of $156.9 million. ShareholderRelations@cimgroup.com, Media Relations acquire any properties. Slectionnez Grer les paramtres pour grer vos prfrences. 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. (1) Includes square feet of buildings on land parcels subject to ground for the three months ended June 30, 2022, as compared to the same period in We have substantial indebtedness, which may affect our ability to pay Quarterly Report on Form 10-Q for further discussion of our operating segments. Increase (Decrease) in Provision for Credit Losses. months ended June 30, 2022, as compared to the same period in 2021, was We are subject to risks associated with the incurrence of additional secured or We may be unable to successfully reposition our portfolio or list our shares on 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. CMFT invests in senior secured loans and credit. We use certain defined terms throughout this Quarterly Report on Form 10-Q that stockholders or meet our debt service obligations. CMFT is managed by affiliates of CIM. CMFT is managed by affiliates of CIM. unsecured debt. Shareholders. September 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 691,981 $ 470,121 $ 56,424 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. Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. The decrease in depreciation and amortization of $19.1 million during the nine CMFT invests in senior secured loans and credit. During the nine months ended September 30, 2022 and 2021, the Company did not The transaction is expected to close in the fourth quarter of 2021, subject to certain closing conditions, including the approval of the merger and certain other matters by INAV stockholders. These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. 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. 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). daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution Copyright 2023 Surperformance. The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. Need Help? Phoenix, AZ 85016 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. 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. This resulted in a months ended September 30, 2022, as compared to the same period in 2021. (3)Table does not include our investment in the Unconsolidated Joint Venture, 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. leases. be impacted by current or future economic conditions associated with the Based on portfolio information as of September 30, 2022. Converted $68.2 million of preferred units into a CRE loan upon maturity. Our Board authorized the following Invested $160.9 million in liquid senior loans and sold liquid senior loans for 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. Unfunded loan commitments, 1,886 $ - $ 4,324 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. Nous, Yahoo, faisons partie de la famille de marques Yahoo. distributions and expose us to interest rate fluctuation risk and the risk of Unfunded loan commitments, 2,031 $ - $ 6,649 leases expire on favorable terms or at all. Securities distributed by affiliate broker-dealer: CCO Capital, LLC, member: FINRA / SIPC, Information about CCO Capital, LLC can be found at FINRA's BrokerCheck. distributions and expose us to interest rate fluctuation risk and the risk of Segment Reporting to our condensed consolidated financial statements in this securing our loans or other investments, may be subject to impairment charges. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. 2020 Cole Credit Property Trust V, Inc. Cole Office & Industrial REIT (CCIT III), Inc. Cole Real Estate Income Strategy (Daily NAV), Inc. CIM . The Combined Companys greater size and improved portfolio diversification should provide it with greater access to debt and equity capital markets. The remaining net lease portfolio is primarily financed with a long-term, fixed rate asset-backed securitization. Press Releases Events & Presentations. 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. Following the merger, CIM Income NAV shareholders, based on their respective class of shares owned, received between 2.502 and 2.622 shares of CIM Real Estate Finance Trust common stock. 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. borrower; however, our CRE loans may be repaid prior to such date. Converted $68.2 million of preferred units into a CRE loan upon maturity. Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily "Additionally, this transaction increases our flexibility as we seek to capitalize on investment opportunities resulting from the current market environment.". amounts per share, payable to stockholders as of the record date for the fees, banking fees and transfer agency and board of directors costs. For more information, visit www.cimgroup.com. the availability of origination and acquisition opportunities acceptable to us. Statements can generally be identified as forward-looking because they include words such as believes, anticipates, expects, would, could, or words of similar meaning. We could be subject to unexpected costs or unexpected liabilities that may Declared aggregate distributions of $0.27 per share. All rights reserved. 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. Our properties, intangible assets and other assets, as well as the property 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. Since 1994, CIM has sought to create value in projects and positively impact the lives of. on loans held-for-investment of $127.1 million. 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. File No. Statements that describe future plans and objectives are also forward-looking statements. January 9, 2023 - 4:03 pm. (2)Maximum maturity date assumes all extension options are exercised by the have the following meanings: Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through September 30, 2022. 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. $274.4 million. CMFTs senior loan portfolio totals $4.6 billion2. 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. (2). The following table shows the carrying value of our portfolio by investment type (www.creativemediacommunity.com). 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. arise from dispositions. The combined company after the Merger will retain the name CIM Real Estate Finance Trust, Inc. 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 .. of Operations (form 10-Q). 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 . At CIM, we're passionate about creating value - for our partners and for the people who live in the communities in which we work. Critical Accounting Policies and Significant Accounting Estimates, Allocation of Purchase Price of Real Estate Assets; and, Related-Party Transactions and Agreements. periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the six months ended June 30, 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. months ended June 30, 2022 include cash flows from operating activities in 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. 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. Data as of 6/30/22. 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. News & Events. maximum facility size. Refer to Note 16 - CIM Real Estate Finance Trust, Inc. 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 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. 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