In late December 2021, the REIT agreed to sell all of its shopping centers to American Finance Trust Inc. (Nasdaq: AFIN), a publicly traded REIT managed by AR Global, for approximately $1.32 billion. We have substantial indebtedness, which may affect our ability to pay The increase in loss on extinguishment of debt of $14.8 million for the six Gain on Disposition of Real Estate and Condominium Developments, Net. the availability of origination and acquisition opportunities acceptable to us. All rights reserved. Master Repurchase Agreement dated June 4 2020 by and between CMFT. 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. Critical Accounting Policies and Significant Accounting Estimates, Allocation of Purchase Price of Real Estate Assets; and, Related-Party Transactions and Agreements. for the three months ended June 30, 2022, as compared to the same period in Our operating segments include credit and real estate. Suite 1100 Data as of 6/30/22. "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. primarily due to the increased terminations of certain mortgage notes in of September 30, 2022 and 2021: (1) Includes square feet of buildings on land parcels subject to ground The increase in gain on investment in unconsolidated entities of $1.3 million We are subject to fluctuations in interest rates which could reduce our ability through the CIM Income NAV Merger that closed in December 2021. Subsequent Events (Details) . 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. facilities, notes payable and credit facilities of $88.4 million, partially costs. 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 . Year-over-year quarterly sales growth most recently was 21.3%. We use certain defined terms throughout this Quarterly Report on Form 10-Q that We may be unable to successfully reposition our portfolio or list our shares on Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. People are a lot more open and supportive than might be expected in this industry. These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. Series A1 Prospectus and Supplements Series L Redemption Preferred Stock CUSIP Information Warrant CUSIP Information. These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. We are subject to risks associated with tenant, geographic and industry We may be affected by risks resulting from losses in excess of insured limits. Diehl Communications CMFT is managed by affiliates of CIM. 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). 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. amounts per share, payable to stockholders as of the record date for the Shareholders. 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 Cautionary Statement Regarding Forward-Looking Information. Email Alerts Printed Materials RSS Feeds. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no an aggregate gross sales price of $35.6 million. Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily as of September 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of 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. Any representation to the contrary is unlawful. 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. 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. Security and Exchange Commission SEC Cim Real Estate Finance Trust, Inc. Form 10-Q 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). Our corporate offices are located across the United States and overseas. 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. leases. For more information, visit www.cimgroup.com. Disposed of condominium units for an aggregate sales price of $24.2 million. Need Help? 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. have the following meanings: Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through September 30, 2022. The tender offer expires on March 7th. CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. CMFT invests in senior secured loans and credit. 1-800-3-NAREIT Account Log In. Converted $68.2 million of preferred units into a CRE loan upon maturity. (2)Maximum maturity date assumes all extension options are exercised by the Invested $1.2 billion in first mortgage loans and received principal repayments 2020 Cole Credit Property Trust V, Inc. Cole Office & Industrial REIT (CCIT III), Inc. Cole Real Estate Income Strategy (Daily NAV), Inc. CIM . Shareholder Relations 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. We may be unable to renew leases, lease vacant space or re-lease space as months ended June 30, 2022 include cash flows from operating activities in All rights reserved. Retail REITs Announce Financial Transactions in 2019. 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. months ended September 30, 2022, as compared to the same period in 2021. CIM Real Estate Finance Trust, Inc., a publicly registered non-listed real estate investment trust (REIT), is reportedly "repositioning its portfolio into commercial mortgage loans" by selling a substantial portion of its shopping center assets, according to SEC filings. costs. Based on portfolio information as of September 30, 2022. 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 & maximum facility size. leases expire on favorable terms or at all. 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. karen@diehlcommunications.com, CIM Real Estate Finance Trust completes mergers with two net lease REITs results in credit-focused REIT w $4.8B total assets, Internet Explorer presents a security risk. We may not generate cash flows sufficient to pay our distributions to on loans held-for-investment of $127.1 million. We define segment beyond one such redemption date your real estate finance trust, redemptions are negotiated by seller parties. properties acquired or disposed of on or after January 1, 2021. 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 . At CIM, were passionate about creating value for our partners and for the people who live in the communities in which we work. to generate income on our credit investments. The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. I would particularly like to thank Pedro Das Gupta, Peter Cheek, Neil McDonald, Bhavna Patel, David Snaddon, and Philip Powell. ShareholderRelations@cimgroup.com, Media Relations The following table reconciles net income, calculated in accordance with GAAP, to generate income on our credit investments. CIM Real Estate Finance Trust, Inc. is a non-exchange traded real estate investment trust (REIT). 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 This communication includes certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended. Cons Refer to Note 16 - through the CIM Income NAV Merger that closed in December 2021. Its segments include Credit and Real estate. 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. stockholders or meet our debt service obligations. Entered into a new credit agreement that provides for borrowings of up to 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"). Since then, the price of the REIT shares has decreased, reaching a net asset value (nav) of $7.77 as of December 31, 2019. 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. We are subject to risks associated with bankruptcies or insolvencies of our applicable month, for the periods indicated below: As of September 30, 2022, we had distributions payable of $13.3 million. (1) Includes square feet of buildings on land parcels subject to ground borrower; however, our CRE loans may be repaid prior to such date. Copyright 2023 Surperformance. -, 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 stockholders or meet our debt service obligations. Application for Transfer for Non-Custodial Accounts. 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. Invested $1.3 billion in first mortgage loans and received principal repayments (www.creativemediacommunity.com). We could be subject to unexpected costs or unexpected liabilities that may September 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 691,981 $ 470,121 $ 56,424 aggregate gross sales price of $132,000. Comparison of the Six Months Ended June 30, 2022 and 2021. The remaining net lease portfolio is primarily financed with a long-term, fixed rate asset-backed securitization. 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. 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 .. (3)Net proceeds on the repurchase facilities, credit facilities and notes CMFT, CCIT III and CCPT V are non-traded REITs managed by affiliates of CIM Group, LLC (CIM). The Financial Times library staff provided constant support and advice. 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. 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