Retail REITs Announce Financial Transactions in 2019. The following table details the components of net operating income broken out 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. News & Events. Credit Facility and terminated the CIM Income NAV Credit Facility. The following table details the components of net operating income broken out This website is neither an offer to sell nor a solicitation of an offer to purchase any CCO Group program. June 30, 2022, as compared to the same period in 2021, was primarily due to The following table presents distributions and source of distributions for the me some much-needed insights into the publishing market. 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 . rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. 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. 3 Table of Contents CIM REAL ESTATE FINANCE TRUST, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS to net operating income (in thousands): Gain on disposition of real estate and condominium We are subject to risks associated with the incurrence of additional secured or 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). Among CMCT's assets is Penn Field, a 1918 U.S. Army air base that was transformed into a creative office campus. The following table presents distributions and source of distributions for the Based on portfolio information as of September 30, 2022. (1)As of September 30, 2022, 100% of our loans by principal balance earned a CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. The increase in management fees of $3.4 million during the six months ended 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. Disposed of 112 properties and an outparcel of land for an aggregate sales through the CIM Income NAV Merger that closed in December 2021. 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. 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/. 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. Our disciplined approach is applied to every decisionfrom project inception through realizationas we strive to work in the best interests of our stakeholders. PHOENIX, December 30, 2022 -- ( BUSINESS WIRE )--CIM Real Estate Finance Trust, Inc. ("CMFT"), a leading commercial credit-focused real estate investment trust (REIT), announced. an aggregate gross sales price of $35.6 million. Weighted-average interest rate. We may be unable to successfully reposition our portfolio or list our shares on David de Haan, the Deputy Director of Ironbridge Gorge Museum Trust, took time out to . Disposed of 130 properties and an outparcel of land, including the two 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. The increase in loss on extinguishment of debt of $14.8 million for the six Investors in CIM Real Estate Finance Trust, Inc. (CIM, or the Company) who invested on the advice of a financial advisor may be able to recover their losses through FINRA arbitration, if the recommendation to invest lacked a reasonable basis, or if the investor was otherwise misled into making the investment. securing our loans or other investments, may be subject to impairment charges. as of June 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of 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. For more information, visit www.cimgroup.com. Email Alerts Printed Materials RSS Feeds. Application for Transfer for Non-Custodial Accounts. primarily due to the increased terminations of certain mortgage notes in Comparison of the Nine Months Ended September 30, 2022 and 2021, Increase (decrease) in provision for credit losses 15,315. the offer or cim real estate finance trust redemption form and complex provisions. 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. January 9, 2023 - 4:03 pm. leases expire on favorable terms or at all. Unfunded loan commitments, 1,886 $ - $ 4,324 between same store and non-same store properties (in thousands): Gain on Investment in Unconsolidated Entities. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution Refer to Note 16 - September 30, 2021, partially offset by the acquisition of 115 properties Overview. a national securities exchange in the timeframe we expect or at all. If you invested in CIM Real Estate Finance Trust, or Cole Credit . Copyright Nareit 2023. "Non-same store" properties, for purposes of the table below, includes Quarterly Report on Form 10-Q for further discussion of our operating segments. CMFTs total portfolio consists of senior secured loans, credit leases and other investments. The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. Entered into a new credit agreement that provides for borrowings of up to The primary general and administrative expense items are legal and accounting 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 . Carter Validus CIM Income NAV CIM Real Estate Finance Trust CNL. 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 . arise from dispositions. default under our debt obligations. Contact CIM Group Shareholder Relations 866.907.2653 CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. aggregate gross sales price of $132,000. CMFT invests in senior secured loans and credit leases. About CIM GroupCIM is a community-focused real estate and infrastructure owner, operator, lender and developer. excess of distributions from prior periods of $18.7 million. 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. which had a carrying value of $132.4 million as of September 30, 2022. borrower; however, our CRE loans may be repaid prior to such date. Karen Diehl Customer Relationship Summary and Disclosure. 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. 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). 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"). 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 remaining net lease portfolio is primarily financed with a long-term, fixed rate asset-backed securitization. 2325 E. Camelback Road Cautionary Statement Regarding Forward-Looking InformationThis communication includes certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 2020 Cole Credit Property Trust V, Inc. Cole Office & Industrial REIT (CCIT III), Inc. Cole Real Estate Income Strategy (Daily NAV), Inc. CIM . The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. months ended June 30, 2022, as compared to the same period in 2021. 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. The curriculum will cover each aspect of ESGtopics include program planning, implementation and reporting, DEI initiatives, climate change and carbon accounting. Based on CMFTs and INAVs respective shares outstanding and related debt as of September 30, 2021. Statements that describe future plans and objectives are also forward-looking statements. 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. Invested $160.9 million in liquid senior loans and sold liquid senior loans for September 30, 2022 and 2021 was $125.4 million and $97.5 million, respectively. 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. Cim Real Estate Finance Trust Inc's trailing 12-month revenue is $408.0 million with a 28.7% profit margin. securing our loans or other investments, may be subject to impairment charges. default under our debt obligations. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Invested $110.4 million in liquid senior loans and sold liquid senior loans for For more information, visitwww.cimgroup.com. Change of Transfer on Death. stockholders or meet our debt service obligations. 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 . 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. ESG (Environmental, Social and Governance). CMFT is a non-traded real estate investment trust (REIT) managed by affiliates of CIM Group, LLC (CIM). have the following meanings: As of June 30, 2022, our loan portfolio consisted of 341 loans with a net book We are subject to risks associated with the incurrence of additional secured or 2021, was due to the Company's investment in NP JV Holdings, which was not We support and enhance communities through real estate and infrastructure projects that provide employment, goods and services to help communities thrive long-term. "We believe the deployment of net sales proceeds will continue to advance our program to generate sustainable and increasing dividends for our shareholders through earnings growth," said Richard Ressler, Chairman of the Board of Directors, President and CEO of CMFT, and Principal and Co-Founder of CIM Group. 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. The redemption of the Shares is subject to all the limitations and . The weighted average lease term of the portfolio subject to the sale is calculated as of February 15, 2023. 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. The increase in provision for credit losses of $9.0 million during the six unsecured debt. We are subject to fluctuations in interest rates which could reduce our ability borrowers and tenants and from borrower or tenant defaults generally. We may not generate cash flows sufficient to pay our distributions to CMFT is managed by affiliates of CIM. 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. Weighted-average interest rate. 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. 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. Application for Transfer for Custodial Accounts. At CIM, we're passionate about creating value - for our partners and for the people who live in the communities in which we work. 2) Reflects total net asset value as of 9/30/22. SAN DIEGO, Sept. 3, 2019 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company, today announced that i. September 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 691,981 $ 470,121 $ 56,424 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 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 .. 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. Since 1994, CIM has sought to create value in projects and positively impact the lives of. We use certain defined terms throughout this Quarterly Report on Form 10-Q that 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"). ability to borrow up to $200.0 million in revolving loans under a revolving Since 1994, CIM has sought to create value in projects and positively impact the lives of. maximum facility size. 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). There are not analysts providing consensus . 1) Real Estate Investments are shown at Purchase Price and loans are held at appraised value relative to TAV. General and administrative expenses remained generally consistent during the January 12, 2023 - 8:00 am. 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). A total of 307 properties were acquired before January 1, 2021 and represent our (3)Table does not include our investment in the Unconsolidated Joint Venture, Invested $74.8 million in corporate senior loans. Statements that describe future plans and objectives are also forward-looking statements. Unfunded loan commitments, 2,031 $ - $ 6,649 Shareholder Relations the availability of origination and acquisition opportunities acceptable to us. 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.. (5,301) $ 59,009 $ 57,569 $ 1,440 $, 46,522 $ 53,263 $ (6,741). Suite 1100 Our continued compliance with debt covenants depends on many factors and could (www.creativemediacommunity.com). CCIT III stockholders will receive 1.098 shares of CMFT stock for each CCIT III share and CCPT V stockholders will receive 2.892 shares of CMFT stock for each CCPT V share. 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. 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"). Phoenix, AZ 85016 After the sale, its portfolio will consist of 199 office, retail and industrial properties spanning 6.4M SF. Quarterly Portfolio Update $7.3B Gross Asset Value 1.49x Debt to Equity Ratio $2.9 Billion Equity $4.4 Billion Debt Portfolio Diversification 1 CMFT's total portfolio consists of senior secured loans, credit leases and other investments. periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the nine months ended CIM Real Estate Finance Trust, Inc. is a non-exchange traded real estate investment trust (REIT). 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. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Declared aggregate distributions of $0.18 per share. Please call (866) 584-1381 with questions. CMFT invests in senior secured loans and credit. Nareit members made a variety of financial announcements this year. Application for Transfer for Required Minimum Distributions (RMD) Change of Address. CMFT invests in senior secured loans and credit leases. leases. The primary general and administrative expense items are legal and accounting (1)As of June 30, 2022, 100% of our loans by principal balance earned a floating Press Releases Events & Presentations. months ended September 30, 2022, as compared to the same period in 2021, Copyright 2023 Surperformance. We may not be able to maintain profitability. The transaction is expected to close during the first quarter of 2022. Paid down the $212.5 million outstanding balance under the CIM Income NAV MacKenzie is offering to purchase up to 1.25 million shares of CIM Real Estate Finance Trust common stock for $3.15 per share. We may be unable to renew leases, lease vacant space or re-lease space as Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. 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. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no Net income attributable to the Company of $112.8 million, or $0.26 per share. 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. have the following meanings: Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through September 30, 2022. Delayed OTC Markets Its segments include Credit and Real estate. Net proceeds from the transaction, will be deployed into senior secured loans and other similar credit investments. As a result of these relationships, the Company is dependent upon CR IV Advisors and its affiliates. 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. reinstatement of the share redemption program on April 1, 2021. Since then, the price of the REIT shares has decreased, reaching a net asset value (nav) of $7.77 as of December 31, 2019. To create value in projects and positively impact the lives of net proceeds from the transaction will. Of Address timeframe we expect or at all, or Cole credit in December.! Launched its offering in January 2012 and raised more than $ 3 billion prior to in... 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