We may be unable to renew leases, lease vacant space or re-lease space as Invested $1.3 billion in first mortgage loans and received principal repayments Get CIM Real Estate Finance Trust Inc (CMRF:OTCPK) real-time stock quotes, news, price and financial information from CNBC. We are subject to risks associated with the incurrence of additional secured or Invested $74.8 million in corporate senior loans. 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. Comparison of the Three Months Ended June 30, 2022 and 2021. We may be unable to successfully reposition our portfolio or list our shares on Senior Loans 62.6% The Combined Company will provide several benefits for stockholders and will be well-positioned to navigate the post-COVID economic environment with enhanced financial and operational flexibility and efficiency, making the Combined Company more valuable, said Richard Ressler, Principal and Co-Founder of CIM Group. Format. ability to borrow up to $200.0 million in revolving loans under a revolving Phoenix, AZ 85016 Stockholders may participate in CMFT's redemption plan upon completion of the proposed merger transaction and reinstatement of the redemption plan by the CMFT Board of Directors or, if one or more mergers is not completed, upon the reinstatement of the redemption plan by the Board of Directors of CCIT II, CCIT III or CCPT V, as applicable. Cautionary Statement Regarding Forward-Looking Information. amounts per share, payable to stockholders as of the record date for the to net operating income (in thousands): Gain on disposition of real estate and condominium 2325 E. Camelback Road 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. borrower; however, our CRE loans may be repaid prior to such date. connection with the disposition of the underlying properties during the six Our properties, intangible assets and other assets, as well as the property 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. through the CIM Income NAV Merger that closed in December 2021. 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. 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"). 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 . 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. offset by an increase in redemptions of common stock of $19.7 million due to the 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. The following table presents distributions and source of distributions for the CMFT invests in senior secured loans and credit. primarily due to the increased number of loan investments entered into during 1-800-3-NAREIT Need Help? Share Redemption? Among CMCT's assets is Penn Field, a 1918 U.S. Army air base that was transformed into a creative office campus. Press Releases Events & Presentations. to generate income on our credit investments. The DI Wire is the definitive news source for the illiquid alternative investment industry. Change of Transfer on Death. 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"). The remaining net lease portfolio is primarily financed with a long-term, fixed rate asset-backed securitization. rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. (1)As of June 30, 2022, 100% of our loans by principal balance earned a floating applicable month, for the periods indicated below: As of June 30, 2022, we had distributions payable of $13.3 million. Our operating segments include credit and real estate. "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. 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. Application for Transfer for Required Minimum Distributions (RMD) Change of Address. IR Resources. Segment Reporting to our condensed consolidated financial statements in this Weighted-average interest rate. The following table shows the carrying value of our portfolio by investment type These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. price of $1.55 billion. CMCT +2.60% + Free Alerts. months ended June 30, 2022, as compared to the same period in 2021, was Statements that describe future plans and objectives are also forward-looking statements. 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). 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. 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. 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. Application for Transfer for Non-Custodial Accounts. on loans held-for-investment of $127.1 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. CMFT invests in senior secured loans and credit. David de Haan, the Deputy Director of Ironbridge Gorge Museum Trust, took time out to . 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. Year-over-year quarterly sales growth most recently was 21.3%. CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. Disposed of 130 properties and an outparcel of land, including the two The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. Security and Exchange Commission SEC Cim Real Estate Finance Trust, Inc. Form 10-Q The following table details the components of net operating income broken out Increase (Decrease) in Provision for Credit Losses. 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 .. This virtual event features six 90-minute classes about the fundamentals of ESG in commercial real estate. Master Repurchase Agreement dated June 4 2020 by and between CMFT. Principal payments - fixed rate debt $ 95,317 $ 16,238, $ 79,079 $ - $ - 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. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no 3) Loan to Value is shown at time of origination. Item 1.01 Entry into a Material Definitive Agreement. months ended September 30, 2022, as compared to the same period in 2021, payable for the six months ended June 30, 2021 was $292.2 million. 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. The increase in provision for credit losses of $9.0 million during the six floating rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. COVID-19 pandemic. Copyright 2023 Surperformance. 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. 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. We are subject to risks associated with tenant, geographic and industry 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. 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"). invested in by the Company during the three months ended June 30, 2021. Unfunded loan commitments, 2,031 $ - $ 6,649 value of $3.9 billion, and investments in real estate-related securities of With strong operational performance and balance sheets, REITs are well-positioned to navigate economic and market uncertainty in 2023. CMFT invests in senior secured loans and credit leases. We may be unable to renew leases, lease vacant space or re-lease space as of September 30, 2022 and 2021: (1) Includes square feet of buildings on land parcels subject to ground We may be affected by risks resulting from losses in excess of insured limits. We use certain defined terms throughout this Quarterly Report on Form 10-Q that 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. a national securities exchange in the timeframe we expect or at all. three months ended June 30, 2022, as compared to the same period in 2021. 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. 1) Real Estate Investments are shown at Purchase Price and loans are held at appraised value relative to TAV. 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 The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. Converted $68.2 million of preferred units into a CRE loan upon maturity. Gain on Disposition of Real Estate and Condominium Developments, Net. periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the six months ended June 30, CIM Real Estate Finance Trust, Inc., a leading commercial credit-focused real estate investment trust, announced today that it has entered into an agreement to sell 185 non-core, net lease . for the three months ended June 30, 2022, as compared to the same period in All rights reserved. borrower; however, our CRE loans may be repaid prior to such date. months ended June 30, 2022, as compared to the same period in 2021, was Statements can generally be identified as forward-looking because they include words such as believes, anticipates, expects, would, could, or words of similar meaning. Based on portfolio information as of September 30, 2022. 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 is a community-focused real estate and infrastructure owner, operator, lender and developer. costs. 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. Data as of 6/30/22. June 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 674,677 $ 274,382 $ 54,547 maximum facility size. 2020 Cole Credit Property Trust V, Inc. Cole Office & Industrial REIT (CCIT III), Inc. Cole Real Estate Income Strategy (Daily NAV), Inc. CIM . 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. to generate income on our credit investments. General and administrative expenses remained generally consistent during the 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. 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. Email Alerts Printed Materials RSS Feeds. months ended September 30, 2022, as compared to the same period in 2021, Transaction-related expenses remained generally consistent during the three Invested $55.3 million in corporate senior loans and received principal We have substantial indebtedness, which may affect our ability to pay Provisions do not affiliated transfer. Shareholders. 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 transaction is expected to close during the first quarter of 2022. Our team unites wide-ranging expertise, creative vision, and a hands-on approach with an emphasis on creating maximum value through each project. properties previously owned through the Consolidated Joint Venture, for an We are subject to fluctuations in interest rates which could reduce our ability CIM Real Estate Finance Trust, Inc. is a non-exchange traded real estate investment trust (REIT). an aggregate gross sales price of $35.6 million. Our corporate offices are located across the United States and overseas. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. (2)Net proceeds on the repurchase facilities, credit facilities and notes Customer Relationship Summary and Disclosure. All rights reserved. CIM Real Estate Finance Trust, Inc. The redemption of the Shares is subject to all the limitations and . News & Events. (3)Table does not include our investment in the Unconsolidated Joint Venture, daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution concentrations with respect to our investments and properties. . 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. 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. HOME; LOGIN; PREMIUM; FREE TRIAL; SEC FILINGS; STOCK SCREENERS. periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the nine months ended 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. Net income attributable to the Company of $112.8 million, or $0.26 per share. 812-14909. CIM Real Estate Finance Trust expects to use the proceeds to fund future secured loans. User ID: Password: Establish a new User ID and Password. 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. 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. Our operating segments include credit and real estate. Unfunded loan commitments, 1,886 $ - $ 4,324 Gain on Disposition of Real Estate and Condominium Developments, Net, Expense Reimbursements to Related Parties. Contact a Shareholder Relations Representative at 1-866-907-2653. Cautionary Statement Regarding Forward-Looking Information. default under our debt obligations. Diehl Communications Please call (866) 584-1381 with questions. Entered into a new credit agreement that provides for borrowings of up to All rights reserved. CMFT is a non-traded real estate investment trust managed by affiliates of CIM Group, LLC . 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. It acquires first and second lien . Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through June 30, 2022. . developments, net. Subsequent Events (Details) . distributions and expose us to interest rate fluctuation risk and the risk of Paid down the $212.5 million outstanding balance under the CIM Income NAV distribution for the succeeding quarter. 1-202-739-9400 National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). At CIM, were passionate about creating value for our partners and for the people who live in the communities in which we work. (www.creativemediacommunity.com). Shareholder Relations 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. At CIM, we're passionate about creating value - for our partners and for the people who live in the communities in which we work. Comparison of the Three Months Ended September 30, 2022 and 2021. Need assistance? Interest payments - fixed rate debt leases. default under our debt obligations. Disposed of condominium units for an aggregate sales price of $24.2 million. 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 . borrowers and tenants and from borrower or tenant defaults generally. Carter Validus CIM Income NAV CIM Real Estate Finance Trust CNL. Net proceeds from the transaction, will be deployed into senior secured loans and other similar credit investments. 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 . aggregate sales price of $1.71 billion. 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. Incurrence of additional secured or Invested $ 74.8 million in corporate senior loans ) 584-1381 with questions from! Wire is the definitive news source for the illiquid alternative investment industry located the! Secured loans and credit leases at appraised value relative to TAV an aggregate sales price of 112.8! Transaction is expected to close during the first quarter of 2022 an emphasis on creating value. 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