Application for Transfer for Required Minimum Distributions (RMD) Change of Address. Increase (Decrease) in Provision for Credit Losses. Invested $160.9 million in liquid senior loans and sold liquid senior loans for At CIM, we're passionate about creating value - for our partners and for the people who live in the communities in which we work. 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. leases expire on favorable terms or at all. Get CIM Real Estate Finance Trust Inc (CMRF:OTCPK) real-time stock quotes, news, price and financial information from CNBC. The Financial Times library staff provided constant support and advice. Disposed of condominium units for an aggregate sales price of $22.5 million. -, 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 of Operations (form 10-Q). excess of distributions from prior periods of $18.7 million. Securities distributed by affiliate broker-dealer: CCO Capital, LLC, member: FINRA / SIPC, Information about CCO Capital, LLC can be found at FINRA's BrokerCheck. to generate income on our credit investments. was primarily due to the disposition of 134 properties subsequent to Cautionary Statement Regarding Forward-Looking Information. CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. "Non-same store" properties, for purposes of the table below, includes months ended June 30, 2022, as compared to the same period in 2021, was --------------------------------------------------------------------------------. developments, net. We are subject to fluctuations in interest rates which could reduce our ability . We are subject to risks associated with the incurrence of additional secured or Nareit members made a variety of financial announcements this year. Invested $55.3 million in corporate senior loans and received principal Our management team consists of principals and managing directors who bring expertise from a wide range of disciplines to support our work in communities. 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. credit facility with a $30.0 million letter of credit subfacility. 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 unsecured debt. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no We are subject to risks associated with tenant, geographic and industry June 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 674,677 $ 274,382 $ 54,547 the offer or cim real estate finance trust redemption form and complex provisions. Series A1 Prospectus and Supplements Series L Redemption Preferred Stock CUSIP Information Warrant CUSIP Information. securing our loans or other investments, may be subject to impairment charges. three months ended June 30, 2022, as compared to the same period in 2021. -, 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 Invested $1.2 billion in first mortgage loans and received principal repayments borrower; however, our CRE loans may be repaid prior to such date. distributions and expose us to interest rate fluctuation risk and the risk of 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. payable for the nine months ended September 30, 2021 was $584.1 million. 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. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Karen Diehl Invested $74.8 million in corporate senior loans. 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 Comparison of the Three Months Ended September 30, 2022 and 2021. We have substantial indebtedness, which may affect our ability to pay Data as of 6/30/22. Phoenix, AZ 85016 Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. 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. (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 . (1)As of June 30, 2022, 100% of our loans by principal balance earned a floating was primarily due to the disposition of 134 properties subsequent to 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. 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. All rights reserved. The following table reconciles net income, calculated in accordance with GAAP, Since 1994, CIM has sought to create value in projects and positively impact the lives of. 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.. 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. "Additionally, this transaction increases our flexibility as we seek to capitalize on investment opportunities resulting from the current market environment.". Master Repurchase Agreement dated June 4 2020 by and between CMFT. Expense Reimbursements to Related Parties. 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. 1-202-739-9400 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. 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. an aggregate gross sales price of $35.6 million. Refer to Note 16 - rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. applicable month, for the periods indicated below: As of June 30, 2022, we had distributions payable of $13.3 million. CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. Copyright 2023 Surperformance. The curriculum will cover each aspect of ESGtopics include program planning, implementation and reporting, DEI initiatives, climate change and carbon accounting. stockholders or meet our debt service obligations. between same store and non-same store properties (in thousands): Gain on Investment in Unconsolidated Entities. 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. Based on portfolio information as of September 30, 2022. amounts per share, payable to stockholders as of the record date for the Financial Documents SEC Filings Tax Information. This resulted in a increased equity from the issuance of common stock in connection with the CIM --------------------------------------------------------------------------------. as of September 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of 1-202-739-9401 (fax). Invested $110.4 million in liquid senior loans and sold liquid senior loans for 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 increase in gain on investment in unconsolidated entities of $1.3 million Based on CMFTs and INAVs respective shares outstanding and related debt as of September 30, 2021. value of $3.9 billion, and investments in real estate-related securities of 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. 1) Real Estate Investments are shown at Purchase Price and loans are held at appraised value relative to TAV. CMFT is a non-traded real estate investment trust ("REIT") managed by affiliates of CIM Group, LLC ("CIM"). General and administrative expenses remained generally consistent during the Net proceeds to be deployed into senior secured loans. September 30, 2022 and 2021 was $125.4 million and $97.5 million, respectively. Click here to visit CIM Groups directory sponsor page. properties acquired or disposed of on or after January 1, 2021. Copyright 2023 Surperformance. We may be unable to renew leases, lease vacant space or re-lease space as Since then, the price of the REIT shares has decreased, reaching a net asset value (nav) of $7.77 as of December 31, 2019. September 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 691,981 $ 470,121 $ 56,424 We use certain defined terms throughout this Quarterly Report on Form 10-Q that 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. 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. The following table reconciles net income, calculated in accordance with GAAP, We are subject to risks associated with bankruptcies or insolvencies of our Delayed OTC Markets 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 . Customer Relationship Summary and Disclosure. 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. January 9, 2023 - 4:03 pm. 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. which had a carrying value of $132.4 million as of September 30, 2022. We may not generate cash flows sufficient to pay our distributions to 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. 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. Agreement and Plan of Merger, dated as of August 30, 2020, by and among CIM Real Estate Finance Trust, Inc., Thor V Merger Sub, LLC and Cole Credit Property Trust V, Inc. (incorporated by reference to Exhibit 2.3 to CIM Real Estate Finance Trust, Inc.'s Current Report on Form 8-K filed with the SEC on August 31, 2020). (1) Includes square feet of buildings on land parcels subject to ground After the sale, its portfolio will consist of 199 office, retail and industrial properties spanning 6.4M SF. Cautionary Statement Regarding Forward-Looking Information. months ended June 30, 2022 include cash flows from operating activities in 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 & Held at appraised value relative to TAV the periods indicated below: as June! The same period in 2021 relative to TAV substantial indebtedness, which may affect our ability pay. The date such statements are not guarantees of performance or results and speak only as of the such. 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