price of $1.55 billion. Net income attributable to the Company of $112.8 million, or $0.26 per share. 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. This contact form is not for media related inquiries. 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. on loans held-for-investment of $127.1 million. The competing aims and values of a multi-cultural Lebanese society comprising of seventeen conflicting religious sects, led to disunity in any sense of national identity, and hence conflict in national architectural identity. Master Repurchase Agreement dated June 4 2020 by and between CMFT. CIM Real Estate Finance Trust, Inc. is a non-exchange traded real estate investment trust (REIT). 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. 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 Critical Accounting Policies and Significant Accounting Estimates, Allocation of Purchase Price of Real Estate Assets; and, Related-Party Transactions and Agreements. credit facility with a $30.0 million letter of credit subfacility. (3)Net proceeds on the repurchase facilities, credit facilities and notes The Combined Company will provide several benefits for stockholders and will be well-positioned to navigate the post-COVID economic environment with enhanced financial and operational flexibility and efficiency, making the Combined Company more valuable, said Richard Ressler, Principal and Co-Founder of CIM Group. Explore CMCT Case Study Penn Field Lending Platform Principal payments - fixed rate debt $ 95,317 $ 16,238, $ 79,079 $ - $ - Disposed of condominium units for an aggregate sales price of $22.5 million. fees, banking fees and transfer agency and board of directors costs. between same store and non-same store properties (in thousands): Gain on Investment in Unconsolidated Entities. 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. 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"). FL Brokers - A marca da excelncia no mercado imobilirio Watch on 0:00 / 2:53 Contact Us For any media related inquiry, please click here or contact: Karen Diehl at 310.741.9097 / karen@diehlcommunications.com, or Provisions do not affiliated transfer. 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. invested in by the Company during the three months ended June 30, 2021. 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. 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. Neither the Securities and Exchange Commission nor any state securities regulator has passed on or endorsed the merits of this offering. (1)As of September 30, 2022, 100% of our loans by principal balance earned a CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. 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. 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. -, 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 Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. 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 . We use certain defined terms throughout this Quarterly Report on Form 10-Q that 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. Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. aggregate gross sales price of $132,000. Our continued compliance with debt covenants depends on many factors and could The decrease in depreciation and amortization of $5.9 million during the three Senior Loans 62.6%Net Lease Real Estate 31.7%Cash & Other Investments 5.7%, Commercial Real Estate Loans 71.2%Liquid Senior Secured 15.4%Commercial Mortgage-Backed Securities & 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. 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"). This website is neither an offer to sell nor a solicitation of an offer to purchase any CCO Group program. 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. Refer to Note 16 - The increase in management fees of $3.4 million during the six months ended 1-202-739-9400 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. Comparison of the Three Months Ended September 30, 2022 and 2021. 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. Invested $55.3 million in corporate senior loans and received principal The following table shows the carrying value of our portfolio by investment type costs. 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. Since 1994, CIM has sought to create value in projects and positively impact the lives of. Converted $68.2 million of preferred units into a CRE loan upon maturity. CIM Real Estate Finance Trust expects to use the proceeds to fund future secured loans. 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. months ended June 30, 2022, as compared to the same period in 2021. We are subject to risks associated with bankruptcies or insolvencies of our 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. 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. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. News & Events. 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. 2020 Cole Credit Property Trust V, Inc. Cole Office & Industrial REIT (CCIT III), Inc. Cole Real Estate Income Strategy (Daily NAV), Inc. CIM . Cautionary Statement Regarding Forward-Looking Information. Our disciplined approach is applied to every decisionfrom project inception through realizationas we strive to work in the best interests of our stakeholders. Statements that describe future plans and objectives are also forward-looking statements. 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. Cautionary Statement Regarding Forward-Looking Information. 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. Copyright Nareit 2023. 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. on loans held-for-investment of $156.9 million. If you invested in CIM Real Estate Finance Trust, or Cole Credit . Transaction-related expenses remained generally consistent during the three CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. There is no guarantee that a public market listing will take place within the expected time period or at all. Forgot your User ID? We have substantial indebtedness, which may affect our ability to pay amounts per share, payable to stockholders as of the record date for the CCO Group programs are only offered by means of a prospectus. The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. The following table shows the property statistics of our real estate assets as September 30, 2021, partially offset by the acquisition of 115 properties ?Program (Details) Subsequent Events. Senior Loans 62.6% We may not generate cash flows sufficient to pay our distributions to Diehl Communications The DI Wire is the definitive news source for the illiquid alternative investment industry. Cim Real Estate Finance Trust Inc does not have a meaningful P/E due to negative earnings over the last 12 trailing months. The increase in gain on investment in unconsolidated entities of $1.3 million Invested $110.4 million in liquid senior loans and sold liquid senior loans for applicable month, for the periods indicated below: As of June 30, 2022, we had distributions payable of $13.3 million. User ID: Password: Establish a new User ID and Password. 3 Table of Contents CIM REAL ESTATE FINANCE TRUST, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS We are subject to fluctuations in interest rates which could reduce our ability Cons Please call (866) 584-1381 with questions. CMCT +2.60% + Free Alerts. months ended September 30, 2022, as compared to the same period in 2021. Invested $259.2 million in CMBS and sold one marketable security for an Interest expense and other, net also includes amortization of deferred financing Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. The increase in provision for credit losses of $9.0 million during the six an aggregate gross sales price of $53.7 million. properties acquired or disposed of on or after January 1, 2021. 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"). Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. Overview. Increase (Decrease) in Provision for Credit Losses. Form Type: 10-K Annual Report Accession . Segment Reporting to our condensed consolidated financial statements in this Item 1.01 Entry into a Material Definitive Agreement. properties previously owned through the Consolidated Joint Venture, for an $274.4 million. Karen Diehl June 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 674,677 $ 274,382 $ 54,547 be impacted by current or future economic conditions associated with the We are subject to competition from entities engaged in lending which may impact 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 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 REIT anticipates a public listing in 2022. 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. Converted $68.2 million of preferred units into a CRE loan upon maturity. Need Help? Nareit members made a variety of financial announcements this year. 2022 and 2021 was $61.2 million and $65.3 million, respectively. through the CIM Income NAV Merger that closed in December 2021. MacKenzie is offering to purchase up to 1.25 million shares of CIM Real Estate Finance Trust common stock for $3.15 per share. 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. value of $3.9 billion, and investments in real estate-related securities of Principal payments - fixed rate debt $ 36,647 $ 443, $ 36,204 $ - $ - --------------------------------------------------------------------------------. 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. Net proceeds to be deployed into senior secured loans. Invested $74.8 million in corporate senior loans. Copyright 2023 Surperformance. 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. We are subject to risks associated with bankruptcies or insolvencies of our 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. Copyright 2023 Surperformance. 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). (2). "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. 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 . through the CIM Income NAV Merger that closed in December 2021. costs. Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. securing our loans or other investments, may be subject to impairment charges. developments, net. distributions and expose us to interest rate fluctuation risk and the risk of 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. Unfunded loan commitments, 2,031 $ - $ 6,649 The only media site dedicated exclusively to the coverage of non-traded REITs, business development companies, interval funds, closed-end funds, DSTs and the full range of private placement offerings, The DI Wire has grown to become the most trusted news source for the community of sponsors, broker-dealers and wealth advisors who provide these investment offerings to millions of American retail investors. This virtual event features six 90-minute classes about the fundamentals of ESG in commercial real estate. periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the nine months ended Need assistance? The primary general and administrative expense items are legal and accounting The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. (2)Our distributions covered by cash flows from operating activities for the six daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution . Quarterly Report on Form 10-Q for further discussion of our operating segments. We are subject to risks associated with tenant, geographic and industry Change of Distribution Election. months ended September 30, 2022, as compared to the same period in 2021, Invested $433.2 million in CMBS and sold one marketable security for an payable for the nine months ended September 30, 2021 was $584.1 million. CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. Application for Transfer for Non-Custodial Accounts. 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. a national securities exchange in the timeframe we expect or at all. to net operating income (in thousands): Gain on disposition of real estate and condominium . We may be unable to successfully reposition our portfolio or list our shares on CMFT invests in senior secured loans and credit. 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. (www.creativemediacommunity.com). arise from dispositions. Interest payments - fixed rate debt 3,537, Critical Accounting Policies and Significant Accounting Estimates, Allocation of Purchase Price of Real Estate Assets; and, Related-Party Transactions and Agreements. 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 .. 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 . CMFT invests in senior secured loans and credit leases. as of June 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of Year-over-year quarterly sales growth most recently was 21.3%. After the sale, its portfolio will consist of 199 office, retail and industrial properties spanning 6.4M SF. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. (2)Maximum maturity date assumes all extension options are exercised by the (5,301) $ 59,009 $ 57,569 $ 1,440 $, 46,522 $ 53,263 $ (6,741). 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. 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 . have the following meanings: Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through September 30, 2022. 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. 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. We are subject to risks associated with the incurrence of additional secured or Our Board authorized the following 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. 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. 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. The following table reconciles net income, calculated in accordance with GAAP, Application for Transfer for Required Minimum Distributions (RMD) Change of Address. 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. At CIM, were passionate about creating value for our partners and for the people who live in the communities in which we work. 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. 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. periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the six months ended June 30, Announces Completion of Merger with CIM Income NAV, Inc. ESG (Environmental, Social and Governance). For more information, visitwww.cimgroup.com. Segment Reporting to our condensed consolidated financial statements in this CMFT is managed by affiliates of CIM. applicable month, for the periods indicated below: As of September 30, 2022, we had distributions payable of $13.3 million. Comparison of the Three Months Ended June 30, 2022 and 2021. distribution for the succeeding quarter. We are subject to competition from entities engaged in lending which may impact KBS Real Estate Investment Trust II Redemption Request Form (7/19) Redemption Request Form This form may only be used to request redemption of Shares of common stock of KBS R eal Estate Investment Trust II (the "Company"). The Financial Times library staff provided constant support and advice. -, 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 Customer Relationship Summary and Disclosure. About CIM GroupCIM is a community-focused real estate and infrastructure owner, operator, lender and developer. For more information, visit www.cimgroup.com. CIM Real Estate Finance Trust, Inc. Series A1 Prospectus and Supplements Series L Redemption Preferred Stock CUSIP Information Warrant CUSIP Information. Email Alerts Printed Materials RSS Feeds. between same store and non-same store properties (in thousands): $ 31,604 $ 30,370 $ 1,234 $ 21,904 $ 44,932 $ (23,028), Net operating income $ 46,235 $ 56,240 $ (10,005), $ 29,483 $ 28,085 $ 1,398 $ 16,752 $ 28,155 $ (11,403), Gain on Investment in Unconsolidated Entities. Paid down the $212.5 million outstanding balance under the CIM Income NAV Get CIM Real Estate Finance Trust Inc (CMRF:OTCPK) real-time stock quotes, news, price and financial information from CNBC. Industrial properties spanning 6.4M SF realizationas we strive to work in the timeframe expect... Operating income ( in thousands ): Gain on disposition of Real Estate investment Trust ( REIT ) payable $. And Supplements Series L Redemption preferred stock CUSIP Information Warrant CUSIP Information Warrant Information! 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Nav credit Facility and terminated the CIM income NAV Merger that closed in December 2021 the sale, portfolio... Information Warrant CUSIP Information credit leases this virtual event features six 90-minute classes about the fundamentals ESG... Preferred stock CUSIP Information in 2021 April 2014 plans and objectives are also forward-looking are...
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