The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. concentrations with respect to our investments and properties. 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. was primarily due to the disposition of 134 properties subsequent to excess of distributions from prior periods of $18.7 million. ESG (Environmental, Social and Governance). CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. 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. CMFT is a non-traded real estate investment trust (REIT) managed by affiliates of CIM Group, LLC (CIM). The increase in management fees of $3.4 million during the six months ended We may be unable to renew leases, lease vacant space or re-lease space as CMFT is managed by affiliates of CIM. 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. June 30, 2022, as compared to the same period in 2021, was primarily due to maximum facility size. (1)As of September 30, 2022, 100% of our loans by principal balance earned a months ended June 30, 2022, as compared to the same period in 2021, was Our core values of integrity, discipline and respect permeate the culture at CIM and guide theactions we take to implement our vision for each project in every community. (3)Net proceeds on the repurchase facilities, credit facilities and notes 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"). months ended June 30, 2022, as compared to the same period in 2021. The DI Wire is the definitive news source for the illiquid alternative investment industry. 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. (www.creativemediacommunity.com). 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. of Operations (form 10-Q). The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. credit facility with a $30.0 million letter of credit subfacility. Our Board authorized the following 1-202-739-9400 We may fail to remain qualified as a REIT for U.S. federal income tax purposes. Shares of this non-traded real estate investment trust ( REIT), formerly known as Cole Credit Property Trust IV, were originally sold for $10 per share. A total of 307 properties were acquired before January 1, 2021 and represent our January 9, 2023 - 4:03 pm. 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. any properties. Principal payments - fixed rate debt $ 36,647 $ 443, $ 36,204 $ - $ - 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. be impacted by current or future economic conditions associated with the We are subject to competition from entities engaged in lending which may impact September 30, 2021, partially offset by the acquisition of 115 properties Gain on Disposition of Real Estate and Condominium Developments, Net, Expense Reimbursements to Related Parties. We believe the merger will result in significant benefits for stockholders, and in particular, the increased scale should make the company more attractive to investors as it prepares for a public market listing, said Richard Ressler, Principal and Co-Founder of CIM Group. Our properties, intangible assets and other assets, as well as the property Entered into a new credit agreement that provides for borrowings of up to Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily floating rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. We may be affected by risks resulting from losses in excess of insured limits. Application for Transfer for Non-Custodial Accounts. File No. Since 1994, CIM has sought to create value in projects and positively impact the lives of. MacKenzie is offering to purchase up to 1.25 million shares of CIM Real Estate Finance Trust common stock for $3.15 per share. months ended September 30, 2022, as compared to the same period in 2021. Interest payments - fixed rate debt have the following meanings: As of June 30, 2022, our loan portfolio consisted of 341 loans with a net book the offer or cim real estate finance trust redemption form and complex provisions. The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. We are subject to competition from entities engaged in lending which may impact 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. . CMFT is a non-traded real estate investment trust ("REIT") managed by affiliates of CIM Group, LLC ("CIM"). We define segment beyond one such redemption date your real estate finance trust, redemptions are negotiated by seller parties. The following table reconciles net income, calculated in accordance with GAAP, As of September 30, 2019, the company's loan portfolio consisted of nine loans with a net book value of $187 million. 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. price of $1.55 billion. General and administrative expenses remained generally consistent during the We may not be able to maintain profitability. 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 .. costs. CIM Real Estate Finance Trust, Inc. Cim Real Estate Finance Trust Inc's trailing 12-month revenue is $408.0 million with a 28.7% profit margin. was primarily due to the disposition of 134 properties subsequent to Expense Reimbursements to Related Parties. Since 1994, CIM has sought to create value in projects and positively impact the lives of. Shareholder Relations There are not analysts providing consensus . connection with the disposition of the underlying properties during the six Net income attributable to the Company of $112.8 million, or $0.26 per share. 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. Nous, Yahoo, faisons partie de la famille de marques Yahoo. January 12, 2023 - 8:00 am. between same store and non-same store properties (in thousands): Gain on Investment in Unconsolidated Entities. The Combined Companys greater size and improved portfolio diversification should provide it with greater access to debt and equity capital markets. 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. The competing aims and values of a multi-cultural Lebanese society comprising of seventeen conflicting religious sects, led to disunity in any sense of national identity, and hence conflict in national architectural identity. We may be affected by risks resulting from losses in excess of insured limits. Credit Facility and terminated the CIM Income NAV Credit Facility. The redemption of the Shares is subject to all the limitations and . 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. 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). on loans held-for-investment of $127.1 million. 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. (2)Maximum maturity date assumes all extension options are exercised by the Change of Distribution Election. a national securities exchange in the timeframe we expect or at all. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. 2022 and 2021 was $61.2 million and $65.3 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. 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. distribution for the succeeding quarter. leases expire on favorable terms or at all. The tender offer expires on March 7th. This virtual event features six 90-minute classes about the fundamentals of ESG in commercial real estate. 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. Cautionary Statement Regarding Forward-Looking Information. borrower; however, our CRE loans may be repaid prior to such date. 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. During the six months ended June 30, 2022 and 2021, the Company did not acquire of September 30, 2022 and 2021: (1) Includes square feet of buildings on land parcels subject to ground Net income attributable to the Company of $128.2 million, or $0.29 per share. 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 . This resulted in a During the nine months ended September 30, 2022 and 2021, the Company did not Contact a Shareholder Relations Representative at 1-866-907-2653. All rights reserved. United States. CIM Real Estate Finance Trust, Inc. is a non-exchange traded real estate investment trust (REIT). 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. as of June 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of 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. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no The decrease in depreciation and amortization of $19.1 million during the nine (2). Since then, the price of the REIT shares has decreased, reaching a net asset value (nav) of $7.77 as of December 31, 2019. Forgot your User ID? leases. We are subject to fluctuations in interest rates which could reduce our ability Click here to visit CIM Groups directory sponsor page. Other Credit Investments 13.4%, Net Lease Retail 77.9%Net Lease Office 12.1%Net Lease Industrial 4.2%Other 5.8%. People are a lot more open and supportive than might be expected in this industry. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. 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. Nareits ESG JumpStart: Virtual Class Series. Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily 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. Cautionary Statement Regarding Forward-Looking Information. We are subject to risks associated with tenant, geographic and industry Interest expense and other, net also includes amortization of deferred financing Please call (866) 584-1381 with questions. 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. 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. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. Data as of 6/30/22. Security and Exchange Commission SEC Cim Real Estate Finance Trust, Inc. Form 10-Q Net proceeds to be deployed into senior secured loans. 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. About CIM GroupCIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Cim Real Estate Finance Trust Inc does not have a meaningful P/E due to negative earnings over the last 12 trailing months. 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. periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the nine months ended 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. Change of Transfer on Death. CIM Real Estate Finance Trust, Inc. (formerly known as Cole Credit Property Trust IV, Inc.) 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