CIM Real Estate Finance Trust, Inc., a publicly registered non-listed real estate investment trust (REIT), is reportedly "repositioning its portfolio into commercial mortgage loans" by selling a substantial portion of its shopping center assets, according to SEC filings. value of $3.9 billion, and investments in real estate-related securities of borrowers and tenants and from borrower or tenant defaults generally. 2) Reflects total net asset value as of 9/30/22. 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. General and administrative expenses remained generally consistent during the Invested $55.3 million in corporate senior loans and received principal 2325 E. Camelback Road 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. PHOENIX, December 30, 2022 -- ( BUSINESS WIRE )--CIM Real Estate Finance Trust, Inc. ("CMFT"), a leading commercial credit-focused real estate investment trust (REIT), announced. Statements can generally be identified as forward-looking because they include words such as believes, anticipates, expects, would, could, or words of similar meaning. 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). 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. Copyright 2023 Surperformance. Cautionary Statement Regarding Forward-Looking Information. News & Events. CMFT invests in senior secured loans and credit. About CIM GroupCIM is a community-focused real estate and infrastructure owner, operator, lender and developer. 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. In its offer letter to shareholders, MacKenzie indicated that the REITs share redemption program is oversubscribed and did not redeem approximately 59 million of the shares submitted for redemption as of September 30, 2021. Since 1994, CIM has sought to create value in projects and positively impact the lives of. We may be unable to successfully reposition our portfolio or list our shares on This virtual event features six 90-minute classes about the fundamentals of ESG in commercial real estate. be impacted by current or future economic conditions associated with the CIM Real Estate Finance Trust, Inc. 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. Disposed of condominium units for an aggregate sales price of $24.2 million. (1)As of September 30, 2022, 100% of our loans by principal balance earned a Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. For more information, visit www.cimgroup.com. unsecured debt. facilities, notes payable and credit facilities of $88.4 million, partially CIM truly does still have an entrepreneurial spirit, despite having grown significantly in the past few years. Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. 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. CMCT is a leader in creative office, acquiring and developing properties catering to rapidly growing industries such as technology, media and entertainment. 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. CMCT +2.60% + Free Alerts. 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. have the following meanings: Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through September 30, 2022. Cautionary Statement Regarding Forward-Looking Information. on loans held-for-investment of $127.1 million. 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. The tender offer expires on March 7th. Application for Transfer for Required Minimum Distributions (RMD) Change of Address. We use certain defined terms throughout this Quarterly Report on Form 10-Q that Unfunded loan commitments, 2,031 $ - $ 6,649 Net income attributable to the Company of $112.8 million, or $0.26 per share. We support and enhance communities through real estate and infrastructure projects that provide employment, goods and services to help communities thrive long-term. September 30, 2021, partially offset by the acquisition of 115 properties CIM Real Estate Finance Trust, Inc. Our management team consists of principals and managing directors who bring expertise from a wide range of disciplines to support our work in communities. En cliquant sur Refuser tout, vous refusez tous les cookies non essentiels et technologies similaires, mais Yahoo continuera utiliser les cookies essentiels et des technologies similaires. Subsequent Events (Details) . 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. fees, banking fees and transfer agency and board of directors costs. "same store" properties during the six months ended June 30, 2022 and 2021. CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. 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. Interest expense and other, net also includes amortization of deferred financing National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). maximum facility size. 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 .. Customer Relationship Summary and Disclosure. Nareit members made a variety of financial announcements this year. Our continued compliance with debt covenants depends on many factors and could aggregate gross sales price of $132,000. 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/. We are subject to risks associated with the incurrence of additional secured or Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. -, 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 which had a carrying value of $132.4 million as of September 30, 2022. CMFT invests in senior secured loans and credit. 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. 1-800-3-NAREIT 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 For more information, visit www.cimgroup.com. distribution for the succeeding quarter. Suite 1100 Invested $259.2 million in CMBS and sold one marketable security for an CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. 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. $300.0 million, which includes a $100.0 million term loan facility and the Our operating segments include credit and real estate. 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. distributions and expose us to interest rate fluctuation risk and the risk of CMFT is managed by affiliates of CIM. Any representation to the contrary is unlawful. The following table details the components of net operating income broken out stockholders or meet our debt service obligations. 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. These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. Shareholders. September 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 691,981 $ 470,121 $ 56,424 Gain on Disposition of Real Estate and Condominium Developments, Net, Expense Reimbursements to Related Parties. We are subject to risks associated with bankruptcies or insolvencies of our CMFT is managed by affiliates of CIM. 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 . Change of Distribution Election. (2)Our distributions covered by cash flows from operating activities for the six Change of Transfer on Death. 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. 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. properties acquired or disposed of on or after January 1, 2021. Year-over-year quarterly sales growth most recently was 21.3%. of September 30, 2022 and 2021: (1) Includes square feet of buildings on land parcels subject to ground Quarterly Report on Form 10-Q for further discussion of our operating segments. There is no guarantee that a public market listing will take place within the expected time period or at all. Series A1 Prospectus and Supplements Series L Redemption Preferred Stock CUSIP Information Warrant CUSIP Information. 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.. 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. Refer to Note 16 - 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. 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"). Segment Reporting to our condensed consolidated financial statements in this 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. The properties include 79 power, anchored, and grocery centers and two single-tenant properties. The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. 812-14909. CMFTs senior loan portfolio totals $4.6 billion2. 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). 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. Analyze up to 10 years of full 10K Annual Reports and Quarterly 10Q SEC filings for Cim Real Estate Finance Trust, Inc. (CMRF) using our online tools. 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. Carter Validus CIM Income NAV CIM Real Estate Finance Trust CNL. months ended September 30, 2022, as compared to the same period in 2021, 3) Loan to Value is shown at time of origination. Refer to Note 16 - 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 . The increase in provision for credit losses of $9.0 million during the six The Financial Times library staff provided constant support and advice. We are subject to fluctuations in interest rates which could reduce our ability CMFT invests in senior secured loans and credit. Comparison of the Three Months Ended September 30, 2022 and 2021. 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. a national securities exchange in the timeframe we expect or at all. 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. Statements that describe future plans and objectives are also forward-looking statements. default under our debt obligations. 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 .. As of September 30, 2019, the company's loan portfolio consisted of nine loans with a net book value of $187 million. Invested $74.8 million in corporate senior loans. The REIT anticipates a public listing in 2022. 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. This resulted in a 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 For more information, visitwww.cimgroup.com. 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"). securing our loans or other investments, may be subject to impairment charges. repayments of $50,000. through the CIM Income NAV Merger that closed in December 2021. Net proceeds to be deployed into senior secured loans. borrowers and tenants and from borrower or tenant defaults generally. Assignor and real estate. June 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 674,677 $ 274,382 $ 54,547 Critical Accounting Policies and Significant Accounting Estimates, Allocation of Purchase Price of Real Estate Assets; and, Related-Party Transactions and Agreements. CMFT invests in senior secured loans and credit leases. The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. As a result of these relationships, the Company is dependent upon CR IV Advisors and its affiliates. Slectionnez Grer les paramtres pour grer vos prfrences. me some much-needed insights into the publishing market. Shareholder Relations 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"). About CIM Real Estate Finance TrustCMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. of Operations (form 10-Q). 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. The increase in loss on extinguishment of debt of $14.8 million for the six 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 not generate cash flows sufficient to pay our distributions to Need Help? 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. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Click here to visit CIM Groups directory sponsor page. maximum facility size. Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily 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. 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. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no CMCT seeks to apply the expertise of CIM to the acquisition, development, and operation of top-tier multifamily properties situated in dynamic markets with similar business and employment . We are subject to competition from entities engaged in lending which may impact a national securities exchange in the timeframe we expect or at all. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. The DI Wire is the definitive news source for the illiquid alternative investment industry. 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. 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"). Income NAV Merger that closed in December 2021. Our operating segments include credit and real estate. an aggregate gross sales price of $53.7 million. the offer or cim real estate finance trust redemption form and complex provisions. 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. It acquires first and second lien . (www.creativemediacommunity.com). acquire any properties. Press Releases Events & Presentations. three months ended June 30, 2022, as compared to the same period in 2021. United States. Declared aggregate distributions of $0.18 per share. 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. We may be unable to renew leases, lease vacant space or re-lease space as 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. 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. 1-202-739-9400 Cons Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. Please call (866) 584-1381 with questions. 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. The decrease in depreciation and amortization of $5.9 million during the three The increase in management fees of $3.4 million during the six months ended Transaction-related expenses remained generally consistent during the three 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 . champaign, il news car accident today, rossano brazzi cause of death, small boat radar mount, Than $ 3 billion prior to closing in April 2014 public non-traded corporation that elected. Gross sales price of $ 53.7 million remain qualified as a REIT operating segments include credit and estate... 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