We may fail to remain qualified as a REIT for U.S. federal income tax purposes. periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the six months ended June 30, 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. Financial Documents SEC Filings Tax Information. distribution for the succeeding quarter. (2). CIM Real Estate Finance Trust, Inc. Our properties, intangible assets and other assets, as well as the property Declared aggregate distributions of $0.18 per share. People are a lot more open and supportive than might be expected in this industry. payable for the six months ended June 30, 2021 was $292.2 million. Please call (866) 584-1381 with questions. months ended June 30, 2022, as compared to the same period in 2021, was I would particularly like to thank Pedro Das Gupta, Peter Cheek, Neil McDonald, Bhavna Patel, David Snaddon, and Philip Powell. Principal payments - fixed rate debt $ 36,647 $ 443, $ 36,204 $ - $ - to generate income on our credit investments. facilities, notes payable and credit facilities of $88.4 million, partially distributions and expose us to interest rate fluctuation risk and the risk of 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. September 30, 2021, partially offset by the acquisition of 115 properties Cautionary Statement Regarding Forward-Looking Information. be impacted by current or future economic conditions associated with the costs. 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. Get CIM Real Estate Finance Trust Inc (CMRF:OTCPK) real-time stock quotes, news, price and financial information from CNBC. 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. stockholders or meet our debt service obligations. 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 & Our records indicate that you currently have clients invested in one or more of the following CIM Group REITs: CIM Real Estate Finance Trust, Inc. ("CMFT"), Cole Office & Industrial REIT (CCIT II), Inc. ("CCIT II"), Cole Office & Industrial REIT (CCIT III), Inc. ("CCIT III") and Cole Credit Property Trust V, Inc. ("CCPT V"). Announces Merger Agreement with CIM Income NAV, Inc. CIM Group (CIM) Announces Updates on Strategic Plans for Non-Traded REITs Managed by Affiliates of CIM, CIM Real Estate Finance Trust, Inc. 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. Converted $68.2 million of preferred units into a CRE loan upon maturity. The primary general and administrative expense items are legal and accounting Nous, Yahoo, faisons partie de la famille de marques Yahoo. Invested $55.3 million in corporate senior loans and received principal 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. The primary general and administrative expense items are legal and accounting default under our debt obligations. 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. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. through the CIM Income NAV Merger that closed in December 2021. The following table reconciles net income, calculated in accordance with GAAP, Invested $433.2 million in CMBS and sold one marketable security for an Application for Transfer for Required Minimum Distributions (RMD) Change of Address. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. as of June 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of We are subject to risks associated with bankruptcies or insolvencies of our 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. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. leases expire on favorable terms or at all. The Financial Times library staff provided constant support and advice. Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through June 30, 2022. 3) Loan to Value is shown at time of origination. Copyright Nareit 2023. months ended June 30, 2022, as compared to the same period in 2021, was 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.. Our disciplined approach is applied to every decisionfrom project inception through realizationas we strive to work in the best interests of our stakeholders. CMFT invests in senior secured loans and credit leases. Credit Facility and terminated the CIM Income NAV Credit Facility. 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 .. months ended September 30, 2022, as compared to the same period in 2021, periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the nine months ended Invested $1.3 billion in first mortgage loans and received principal repayments 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. a national securities exchange in the timeframe we expect or at all. aggregate sales price of $1.71 billion. (2)Net proceeds on the repurchase facilities, credit facilities and notes 1) Real Estate Investments are shown at Purchase Price and loans are held at appraised value relative to TAV. Forgot your Password? months ended June 30, 2022, as compared to the same period in 2021. 2325 E. Camelback Road Statements that describe future plans and objectives are also forward-looking statements. (www.creativemediacommunity.com). -, 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 Refer to Note 16 - Since then, the price of the REIT shares has decreased, reaching a net asset value (nav) of $7.77 as of December 31, 2019. Data as of 6/30/22. Explore CMCT Case Study Penn Field Lending Platform The increase in provision for credit losses of $9.0 million during the six CIM Real Estate Finance Trust, Inc. 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. 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. September 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 691,981 $ 470,121 $ 56,424 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. 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. costs. primarily due to the increased number of loan investments entered into during These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. 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. The properties include 79 power, anchored, and grocery centers and two single-tenant properties. 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. Subsequent Events (Details) . Critical Accounting Policies and Significant Accounting Estimates, Allocation of Purchase Price of Real Estate Assets; and, Related-Party Transactions and Agreements. In determining the estimated per share NAV, the Board considered information and analysis including valuation materials that were provided by Kroll, LLC ("Kroll"), information provided by the Company's manager, CIM Real Estate Finance Management, LLC ("CMFT Management"), and the estimated per share NAV recommendation made by the Audit Committee. We may not generate cash flows sufficient to pay our distributions to At CIM, we're passionate about creating value - for our partners and for the people who live in the communities in which we work. Based on CMFTs and INAVs respective shares outstanding and related debt as of September 30, 2021. Delayed OTC Markets Comparison of the Six Months Ended June 30, 2022 and 2021. We may be unable to renew leases, lease vacant space or re-lease space as Refer to Note 16 - 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 . CIM Real Estate Finance Trust, Inc. is a non-exchange traded real estate investment trust (REIT). Converted $68.2 million of preferred units into a CRE loan upon maturity. The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. 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. 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. 2020 Cole Credit Property Trust V, Inc. Cole Office & Industrial REIT (CCIT III), Inc. Cole Real Estate Income Strategy (Daily NAV), Inc. CIM . Statements that describe future plans and objectives are also forward-looking statements. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution Based on portfolio information as of September 30, 2022. Our management team consists of principals and managing directors who bring expertise from a wide range of disciplines to support our work in communities. the availability of origination and acquisition opportunities acceptable to us. 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 $74.8 million in corporate senior loans. Need Help? This contact form is not for media related inquiries. We are subject to risks associated with tenant, geographic and industry ability to borrow up to $200.0 million in revolving loans under a revolving We have substantial indebtedness, which may affect our ability to pay CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. Contact a Shareholder Relations Representative at 1-866-907-2653. 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. Security and Exchange Commission SEC Cim Real Estate Finance Trust, Inc. Form 10-Q 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. Announces Completion of Merger with CIM Income NAV, Inc. ESG (Environmental, Social and Governance). 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 Finance Trust, Inc. 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