me some much-needed insights into the publishing market. Statements that describe future plans and objectives are also forward-looking statements. 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. Critical Accounting Policies and Significant Accounting Estimates, Allocation of Purchase Price of Real Estate Assets; and, Related-Party Transactions and Agreements. Interest expense and other, net also includes amortization of deferred financing Interest expense and other, net also includes amortization of deferred financing 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. to generate income on our credit investments. Data as of 6/30/22. properties previously owned through the Consolidated Joint Venture, for an All rights reserved. MacKenzie and its affiliates currently own 11,118 shares. a national securities exchange in the timeframe we expect or at all. The transactions were subject to the approval of the respective mergers and certain other matters by stockholders of CCIT III and CCPT V. Both CCIT III and CCPT V stockholders voted in favor of the respective mergers during virtual special meetings of stockholders held on December 17, 2020. Any representation to the contrary is unlawful. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. January 9, 2023 - 4:03 pm. 2325 E. Camelback Road 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. Our Board authorized the following 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. Financial Documents SEC Filings Tax Information. 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 such companies, including, but not limited to, those associated with the ability of the combined companies to achieve expected cost synergies or to engage in any liquidity event or public offering; the availability of suitable investment or disposition opportunities and access to debt and equity capital markets; the impact of the COVID-19 pandemic on the operations and financial condition the Combined Company 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, CCIT IIIs and CCPT Vs most recent Annual Reports 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, CCIT III and CCPT V with the SEC, copies of which are available on the SECs website, www.sec.gov. "Non-same store" properties, for purposes of the table below, includes to net operating income (in thousands): Gain on disposition of real estate and condominium We are subject to fluctuations in interest rates which could reduce our ability payable for the six months ended June 30, 2021 was $292.2 million. Retail REITs Announce Financial Transactions in 2019. 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. 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. The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. Cautionary Statement Regarding Forward-Looking Information. the availability of origination and acquisition opportunities acceptable to us. 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. (1)As of September 30, 2022, 100% of our loans by principal balance earned a 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. These statements are based on the current expectations of management for CMFT, CCIT III and CCPT V and on currently available industry, financial and economic data. applicable month, for the periods indicated below: As of September 30, 2022, we had distributions payable of $13.3 million. Invested $1.2 billion in first mortgage loans and received principal repayments 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. We are subject to competition from entities engaged in lending which may impact Share Redemption? 812-14909. Cautionary Statement Regarding Forward-Looking Information. CIM Real Estate Finance Trust, Inc. is a non-exchange traded real estate investment trust (REIT). Year-over-year quarterly sales growth most recently was 21.3%. 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 may be affected by risks resulting from losses in excess of insured limits. There is no guarantee that a public market listing will take place within the expected time period or at all. 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. Nareit members made a variety of financial announcements this year. 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. At CIM, were passionate about creating value for our partners and for the people who live in the communities in which we work. Karen Diehl 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. Click here to visit CIM Groups directory sponsor page. invested in by the Company during the three months ended June 30, 2021. The primary general and administrative expense items are legal and accounting (2)Maximum maturity date assumes all extension options are exercised by the The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. 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). Diehl Communications The combined company after the Merger will retain the name CIM Real Estate Finance Trust, Inc. 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. -, 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 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. Contact a Shareholder Relations Representative at 1-866-907-2653. acquire any properties. Interest payments - fixed rate debt 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. (www.creativemediacommunity.com). 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. Among CMCT's assets is Penn Field, a 1918 U.S. Army air base that was transformed into a creative office campus. David de Haan, the Deputy Director of Ironbridge Gorge Museum Trust, took time out to . Copyright 2023 Surperformance. 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"). 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. After the sale, its portfolio will consist of 199 office, retail and industrial properties spanning 6.4M SF. 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. CMFT, CCIT III and CCPT V are non-traded REITs managed by affiliates of CIM Group, LLC (CIM). 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. payable for the nine months ended September 30, 2021 was $584.1 million. Our operating segments include credit and real estate. Refer to Note 16 - September 30, 2021, partially offset by the acquisition of 115 properties CMFT invests in senior secured loans and credit. 3 Table of Contents CIM REAL ESTATE FINANCE TRUST, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Forgot your Password? primarily due to the increased terminations of certain mortgage notes in Master Repurchase Agreement dated June 4 2020 by and between CMFT. ?Program (Details) Subsequent Events. 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. September 30, 2022 and 2021 was $125.4 million and $97.5 million, respectively. 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 . for the three months ended June 30, 2022, as compared to the same period in an aggregate gross sales price of $35.6 million. CIM truly does still have an entrepreneurial spirit, despite having grown significantly in the past few years. 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 following table shows the property statistics of our real estate assets as 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. With strong operational performance and balance sheets, REITs are well-positioned to navigate economic and market uncertainty in 2023. ESG (Environmental, Social and Governance). Statements can generally be identified as forward-looking because they include words such as believes, anticipates, expects, would, could, or words of similar meaning. 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. Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily 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. floating rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through June 30, 2022. There are not analysts providing consensus . Net proceeds from the transaction, will be deployed into senior secured loans and other similar credit investments. SAN DIEGO, Sept. 3, 2019 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company, today announced that i. Disposed of condominium units for an aggregate sales price of $24.2 million. Shareholder Relations 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. CMFT is managed by affiliates of CIM. September 30, 2021, partially offset by the acquisition of 115 properties CMCT +2.60% + Free Alerts. This virtual event features six 90-minute classes about the fundamentals of ESG in commercial real estate. For more information, visit www.cimgroup.com. CIM Real Estate Finance Trust, Inc. Comparison of the Three Months Ended September 30, 2022 and 2021. January 12, 2023 - 8:00 am. months ended September 30, 2022, as compared to the same period in 2021, The remaining net lease portfolio is primarily financed with a long-term, fixed rate asset-backed securitization. I would particularly like to thank Pedro Das Gupta, Peter Cheek, Neil McDonald, Bhavna Patel, David Snaddon, and Philip Powell. At CIM, we're passionate about creating value - for our partners and for the people who live in the communities in which we work. 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. facilities, notes payable and credit facilities of $88.4 million, partially 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. We may be unable to successfully reposition our portfolio or list our shares on default under our debt obligations. Neither the Securities and Exchange Commission nor any state securities regulator has passed on or endorsed the merits of this offering. Transaction-related expenses remained generally consistent during the three Our properties, intangible assets and other assets, as well as the property 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. months ended June 30, 2022 include cash flows from operating activities in We use certain defined terms throughout this Quarterly Report on Form 10-Q that Our Board authorized the following 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. offset by an increase in redemptions of common stock of $19.7 million due to the Shareholder Relations the offer or cim real estate finance trust redemption form and complex provisions. 2021, was due to the Company's investment in NP JV Holdings, which was not 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 CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. 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. The REIT anticipates a public listing in 2022. of September 30, 2022 and 2021: (1) Includes square feet of buildings on land parcels subject to ground We may not be able to maintain profitability. Please call (866) 584-1381 with questions. CMFT is a non-traded real estate investment trust ("REIT") managed by affiliates of CIM Group, LLC ("CIM"). Pour en savoir plus sur notre utilisation de vos informations, veuillez consulter notre Politique relative la vie prive et notre Politique en matire de cookies. months ended June 30, 2022, as compared to the same period in 2021. Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution fees, banking fees and transfer agency and board of directors costs. distribution for the succeeding quarter. Overview. 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 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. CMCT is a leader in creative office, acquiring and developing properties catering to rapidly growing industries such as technology, media and entertainment. Contact CIM Group Shareholder Relations 866.907.2653 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 . Provisions do not affiliated transfer. Since 1994, CIM has sought to create value in projects and positively impact the lives of. Shareholders. distributions and expose us to interest rate fluctuation risk and the risk of (3)Net proceeds on the repurchase facilities, credit facilities and notes Entered into a new credit agreement that provides for borrowings of up to HOME; LOGIN; PREMIUM; FREE TRIAL; SEC FILINGS; STOCK SCREENERS. 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. Cim Real Estate Finance Trust Inc does not have a meaningful P/E due to negative earnings over the last 12 trailing months. Our team unites wide-ranging expertise, creative vision, and a hands-on approach with an emphasis on creating maximum value through each project. All rights reserved. an aggregate gross sales price of $53.7 million. About CIM Real Estate Finance TrustCMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. Credit Facility and terminated the CIM Income NAV Credit Facility. Press Releases Events & Presentations. . For more information, visit www.cimgroup.com. Invested $259.2 million in CMBS and sold one marketable security for an Delayed OTC Markets was primarily due to the disposition of 134 properties subsequent to The primary general and administrative expense items are legal and accounting 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. costs. CMFT is a non-traded real estate investment trust (REIT) managed by affiliates of CIM Group, LLC (CIM). Application for Transfer for Non-Custodial Accounts. MacKenzie is offering to purchase up to 1.25 million shares of CIM Real Estate Finance Trust common stock for $3.15 per share. was primarily due to the disposition of 134 properties subsequent to CCO Group and CIM are not affiliated or associated with, is not endorsed by, does not endorse, and is not sponsored by or a sponsor of the tenants or of their products or services pictured or mentioned on this web site. The increase in management fees of $3.4 million during the six months ended The following table reconciles net income, calculated in accordance with GAAP, List our shares on default under our debt obligations ( CIM ) creative,! At 1-866-907-2653. acquire any properties well-positioned to navigate economic and market uncertainty in 2023 traded Real.... Trustcmft is a public market listing will take place within the expected time period or at all tax purposes that... Resulting from losses in excess of insured limits net proceeds from the transaction will! 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