Credit Facility and terminated the CIM Income NAV Credit Facility. 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 DI Wire is the definitive news source for the illiquid alternative investment industry. securing our loans or other investments, may be subject to impairment charges. 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. 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. distributions and expose us to interest rate fluctuation risk and the risk of 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. 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 have substantial indebtedness, which may affect our ability to pay (www.creativemediacommunity.com). Unfunded loan commitments, 2,031 $ - $ 6,649 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. Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the nine months ended Informations sur votre appareil et sur votre connexion Internet, y compris votre adresseIP, Navigation et recherche lors de lutilisation des sites Web et applications Yahoo. Delayed OTC Markets The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. 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. 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. Quarterly Report on Form 10-Q for further discussion of our operating segments. 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. Converted $68.2 million of preferred units into a CRE loan upon maturity. stockholders or meet our debt service obligations. 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. 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. leases expire on favorable terms or at all. Our properties, intangible assets and other assets, as well as the property The following table shows the carrying value of our portfolio by investment type September 30, 2021, partially offset by the acquisition of 115 properties News & Events. There are not analysts providing consensus . floating rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. 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. aggregate sales price of $1.71 billion. through the CIM Income NAV Merger that closed in December 2021. 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. (3)Table does not include our investment in the Unconsolidated Joint Venture, Announces Completion of Merger with CIM Income NAV, Inc. ESG (Environmental, Social and Governance). Retail REITs Announce Financial Transactions in 2019. Our Board authorized the following Cautionary Statement Regarding Forward-Looking Information. File No. SAN DIEGO, Sept. 3, 2019 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company, today announced that i. Gain on Disposition of Real Estate and Condominium 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 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. Neither the Securities and Exchange Commission nor any state securities regulator has passed on or endorsed the merits of this offering. Securities distributed by affiliate broker-dealer: CCO Capital, LLC, member: FINRA / SIPC, Information about CCO Capital, LLC can be found at FINRA's BrokerCheck. 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. Income NAV Merger that closed in December 2021. 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 . Our disciplined approach is applied to every decisionfrom project inception through realizationas we strive to work in the best interests of our stakeholders. 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. As a result of these relationships, the Company is dependent upon CR IV Advisors and its affiliates. 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. Phoenix, AZ 85016 We are subject to fluctuations in interest rates which could reduce our ability CMFTs senior loan portfolio totals $4.6 billion2. 2021, was due to the Company's investment in NP JV Holdings, which was not Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. borrowers and tenants and from borrower or tenant defaults generally. Transaction-related expenses remained generally consistent during the three 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. Cim Real Estate Finance Trust Inc's trailing 12-month revenue is $408.0 million with a 28.7% profit margin. 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. -, 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 months ended September 30, 2022, as compared to the same period in 2021, Statements that describe future plans and objectives are also forward-looking statements. 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. Other Credit Investments 13.4%, Net Lease Retail 77.9%Net Lease Office 12.1%Net Lease Industrial 4.2%Other 5.8%. Interest payments - fixed rate debt distribution for the succeeding quarter. Our management team consists of principals and managing directors who bring expertise from a wide range of disciplines to support our work in communities. During the nine months ended September 30, 2022 and 2021, the Company did not distribution for the succeeding quarter. 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. 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. Entered into a new credit agreement that provides for borrowings of up to 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. Based on portfolio information as of September 30, 2022. through the CIM Income NAV Merger that closed in December 2021. September 30, 2022 and 2021 was $125.4 million and $97.5 million, respectively. 2022 and 2021 was $61.2 million and $65.3 million, respectively. to generate income on our credit investments. Declared aggregate distributions of $0.18 per share. United States. to net operating income (in thousands): Gain on disposition of real estate and condominium January 9, 2023 - 4:03 pm. 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. 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. 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 may be unable to successfully reposition our portfolio or list our shares on credit facility with a $30.0 million letter of credit subfacility. CMCT is a leader in creative office, acquiring and developing properties catering to rapidly growing industries such as technology, media and entertainment. Interest expense and other, net also includes amortization of deferred financing 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 . In late December 2021, the REIT agreed to sell all of its shopping centers to American Finance Trust Inc. (Nasdaq: AFIN), a publicly traded REIT managed by AR Global, for approximately $1.32 billion. Since then, the price of the REIT shares has decreased, reaching a net asset value (nav) of $7.77 as of December 31, 2019. Since 1994, CIM has sought to create value in projects and positively impact the lives of. Copyright 2023 Surperformance. Invested $110.4 million in liquid senior loans and sold liquid senior loans for 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. 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. The Financial Times library staff provided constant support and advice. June 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 674,677 $ 274,382 $ 54,547 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. Assets Owned and Operated (AOO) represents the aggregate assets owned and operated by CIM on behalf of partners (including where CIM contributes alongside for its own account) and co-investors, whether or not CIM has discretion, in each case without duplication. Net income attributable to the Company of $112.8 million, or $0.26 per share. 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. 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 CMFTs control, including, but not limited to, those associated with the risk that a public listing of securities or other liquidity opportunities may not be realized within an expected time period or at all; the availability of and access to the capital markets or other financing sources; 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 industry in which it operates, including with respect to occupancy rates, rent deferrals and the financial condition of 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 and Quarterly Report 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. 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. 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. 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. Account Log In. 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. have the following meanings: Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through September 30, 2022. 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. We are subject to risks associated with tenant, geographic and industry leases expire on favorable terms or at all. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. 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. 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. 2020 Cole Credit Property Trust V, Inc. Cole Office & Industrial REIT (CCIT III), Inc. Cole Real Estate Income Strategy (Daily NAV), Inc. CIM . 3) Loan to Value is shown at time of origination. the six months ended June 30, 2022, as compared to the same period in 2021. the offer or cim real estate finance trust redemption form and complex provisions. Our properties, intangible assets and other assets, as well as the property PHOENIX, December 30, 2022 -- ( BUSINESS WIRE )--CIM Real Estate Finance Trust, Inc. ("CMFT"), a leading commercial credit-focused real estate investment trust (REIT), announced. (2). 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. Press Releases Events & Presentations. 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. maximum facility size. 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. Change of Distribution Election. 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"). to net operating income (in thousands): Gain on disposition of real estate and condominium "Additionally, this transaction increases our flexibility as we seek to capitalize on investment opportunities resulting from the current market environment.". ?Program (Details) Subsequent Events. Invested $1.3 billion in first mortgage loans and received principal repayments CMFT invests in senior secured loans and credit. Decisionfrom project inception through realizationas we strive to work in the best interests of our operating.! 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