Subsequent Events (Details) . 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. Master Repurchase Agreement dated June 4 2020 by and between CMFT. We support and enhance communities through real estate and infrastructure projects that provide employment, goods and services to help communities thrive long-term. 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. fees, banking fees and transfer agency and board of directors costs. was primarily due to the disposition of 134 properties subsequent to 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. 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. Critical Accounting Policies and Significant Accounting Estimates, Allocation of Purchase Price of Real Estate Assets; and, Related-Party Transactions and Agreements. All rights reserved. Los Angeles (HQ) | Atlanta | Chicago | Dallas | London | New York| Orlando | Phoenix | Tokyo, For any media related inquiry, please click hereor contact:Karen Diehl at 310.741.9097 / karen@diehlcommunications.com, orBill Mendel at 212.397.1030 / bill@mendelcommunications.com. We may be unable to renew leases, lease vacant space or re-lease space as To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. 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. I would particularly like to thank Pedro Das Gupta, Peter Cheek, Neil McDonald, Bhavna Patel, David Snaddon, and Philip Powell. Transaction-related expenses remained generally consistent during the three Analyze up to 10 years of full 10K Annual Reports and Quarterly 10Q SEC filings for Cim Real Estate Finance Trust, Inc. (CMRF) using our online tools. CCO Group programs are only offered by means of a prospectus. CIM Real Estate Finance Trust, Inc. Our Board authorized the following Copyright 2023 Surperformance. Senior Loans 62.6% 2022 and 2021 was $61.2 million and $65.3 million, respectively. September 30, 2021, partially offset by the acquisition of 115 properties value of $3.9 billion, and investments in real estate-related securities of 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. (1) Includes square feet of buildings on land parcels subject to ground $300.0 million, which includes a $100.0 million term loan facility and the through the CIM Income NAV Merger that closed in December 2021. Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. months ended June 30, 2022, as compared to the same period in 2021, was The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. Shareholder Relations developments, net. 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. CMFTs senior loan portfolio totals $4.6 billion2. General and administrative expenses remained generally consistent during the CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. For more information, visit www.cimgroup.com. We may not be able to maintain profitability. Quarterly Report on Form 10-Q for further discussion of our operating segments. primarily due to the increased number of loan investments entered into during properties acquired or disposed of on or after January 1, 2021. We could be subject to unexpected costs or unexpected liabilities that may To ensure the most secure and best overall experience on our website, we recommend the latest versions 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.. default under our debt obligations. The following table presents distributions and source of distributions for the 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. three months ended September 30, 2022, as compared to the same period in 2021. January 12, 2023 - 8:00 am. The increase in gain on investment in unconsolidated entities of $1.3 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, ESG (Environmental, Social and Governance). The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. Paid down the $212.5 million outstanding balance under the CIM Income NAV of Operations (form 10-Q). 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 . Delayed OTC Markets As of September 30, 2019, the company's loan portfolio consisted of nine loans with a net book value of $187 million. The following table reconciles net income, calculated in accordance with GAAP, Security and Exchange Commission SEC Cim Real Estate Finance Trust, Inc. Form 10-Q costs. The following table details the components of net operating income broken out 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. We are subject to risks associated with the incurrence of additional secured or default under our debt obligations. HOME; LOGIN; PREMIUM; FREE TRIAL; SEC FILINGS; STOCK SCREENERS. We have substantial indebtedness, which may affect our ability to pay 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 .. CMFT invests in senior secured loans and credit leases. leases. Explore CMCT Case Study Penn Field Lending Platform These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. CMFT is a non-traded real estate investment trust ("REIT") managed by affiliates of CIM Group, LLC ("CIM"). Subsequent to September 30, 2021, the REIT redeemed roughly 1.3 million shares at $7.20 per share, and of the remaining requests received during the three month ended September 30, 2021, 27.7 million shares went unfulfilled, MacKenzie said. Statements that describe future plans and objectives are also forward-looking statements. Assignor and real estate. During the six months ended June 30, 2022 and 2021, the Company did not acquire . Invested $55.3 million in corporate senior loans and received principal The following table reconciles net income, calculated in accordance with GAAP, (3)Net proceeds on the repurchase facilities, credit facilities and notes CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. 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). of Operations (form 10-Q). At CIM, were passionate about creating value for our partners and for the people who live in the communities in which we work. We are subject to fluctuations in interest rates which could reduce our ability United States. Change of Distribution Election. Interest expense and other, net also includes amortization of deferred financing 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. Interest payments - fixed rate debt facilities, notes payable and credit facilities of $88.4 million, partially the availability of origination and acquisition opportunities acceptable to us. stockholders or meet our debt service obligations. 2021, was due to the Company's investment in NP JV Holdings, which was not Principal payments - fixed rate debt $ 95,317 $ 16,238, $ 79,079 $ - $ - 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. Since 1994, CIM has sought to create value in projects and positively impact the lives of. The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. distribution for the succeeding quarter. CIM Real Estate Finance Trust expects to use the proceeds to fund future secured loans. maximum facility size. --------------------------------------------------------------------------------. Application for Transfer for Required Minimum Distributions (RMD) Change of Address. Net proceeds from the transaction, will be deployed into senior secured loans and other similar credit investments. 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. 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. 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 185-property portfolio subject to the sale to Realty Income consists of non-core retail and industrial properties totaling 4.6 million square feet with a 9.3 year weighted average remaining lease term (WALT)1. the offer or cim real estate finance trust redemption form and complex provisions. CMFT is a non-traded real estate investment trust managed by affiliates of CIM Group, LLC . Pour en savoir plus sur notre utilisation de vos informations, veuillez consulter notre Politique relative la vie prive et notre Politique en matire de cookies. Statements that describe future plans and objectives are also forward-looking statements. Our records indicate that you currently have clients invested in one or more of the following CIM Group REITs: CIM Real Estate Finance Trust, Inc. ("CMFT"), Cole Office & Industrial REIT (CCIT II), Inc. ("CCIT II"), Cole Office & Industrial REIT (CCIT III), Inc. ("CCIT III") and Cole Credit Property Trust V, Inc. ("CCPT V"). Copyright 2023 Surperformance. an aggregate gross sales price of $53.7 million. The Combined Companys greater size and improved portfolio diversification should provide it with greater access to debt and equity capital markets. Need Help? 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 purchase price will be paid in cash and the transaction is expected to close during the first quarter of 2023, subject to the completion of due diligence and the satisfaction of closing conditions. Disposed of condominium units for an aggregate sales price of $24.2 million. Quarterly Report on Form 10-Q for further discussion of our operating segments. Announces Merger Agreement with CIM Income NAV, Inc. 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