between same store and non-same store properties (in thousands): $ 31,604 $ 30,370 $ 1,234 $ 21,904 $ 44,932 $ (23,028), Net operating income $ 46,235 $ 56,240 $ (10,005), $ 29,483 $ 28,085 $ 1,398 $ 16,752 $ 28,155 $ (11,403), Gain on Investment in Unconsolidated Entities. January 12, 2023 - 8:00 am. 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. Suite 1100 Since then, the price of the REIT shares has decreased, reaching a net asset value (nav) of $7.77 as of December 31, 2019. $274.4 million. Karen Diehl There is no guarantee that a public market listing will take place within the expected time period or at all. If you invested in CIM Real Estate Finance Trust, or Cole Credit . (www.creativemediacommunity.com). through the CIM Income NAV Merger that closed in December 2021. Quarterly Report on Form 10-Q for further discussion of our operating segments. 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. . I would particularly like to thank Pedro Das Gupta, Peter Cheek, Neil McDonald, Bhavna Patel, David Snaddon, and Philip Powell. be impacted by current or future economic conditions associated with the Since 1994, CIM has sought to create value in projects and positively impact the lives of. increased equity from the issuance of common stock in connection with the CIM CMFT invests in senior secured loans and credit leases. Contact CIM Group Shareholder Relations 866.907.2653 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. 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. Net income attributable to the Company of $128.2 million, or $0.29 per share. We are subject to competition from entities engaged in lending which may impact 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). We may be unable to renew leases, lease vacant space or re-lease space as Series A1 Prospectus and Supplements Series L Redemption Preferred Stock CUSIP Information Warrant CUSIP Information. leases expire on favorable terms or at all. ability to borrow up to $200.0 million in revolving loans under a revolving Invested $433.2 million in CMBS and sold one marketable security for an 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. 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. The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. have the following meanings: Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through September 30, 2022. 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 .. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. COVID-19 pandemic. maximum facility size. For more information, visit www.cimgroup.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. CIM Real Estate Finance Trust, Inc. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no Assets Owned and Operated (AOO) represents the aggregate assets owned and operated by CIM on behalf of partners (including where CIM contributes alongside for its own account) and co-investors, whether or not CIM has discretion, in each case without duplication. Shareholder Relations Comparison of the Three Months Ended June 30, 2022 and 2021. We are subject to risks associated with tenant, geographic and industry Account Log In. as of September 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of securing our loans or other investments, may be subject to impairment charges. primarily due to the increased number of loan investments entered into during Our continued compliance with debt covenants depends on many factors and could 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. (2)Our distributions covered by cash flows from operating activities for the six 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. Shareholders. 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. 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. We may not be able to maintain profitability. The increase in provision for credit losses of $9.0 million during the six 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 weighted average lease term of the portfolio subject to the sale is calculated as of February 15, 2023. Our Board authorized the following default under our debt obligations. 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. developments, net. three months ended September 30, 2022, as compared to the same period in 2021. Neither the Securities and Exchange Commission nor any state securities regulator has passed on or endorsed the merits of this offering. September 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 691,981 $ 470,121 $ 56,424 REITs invest in the majority of real estate property types, including offices, apartment buildings, warehouses, retail centers, medical facilities, data centers, cell towers, infrastructure and hotels. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. The tender offer expires on March 7th. 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 . We support and enhance communities through real estate and infrastructure projects that provide employment, goods and services to help communities thrive long-term. Statements that describe future plans and objectives are also forward-looking statements. as of June 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of 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 & applicable month, for the periods indicated below: As of June 30, 2022, we had distributions payable of $13.3 million. User ID: Password: Establish a new User ID and Password. 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"). of Operations (form 10-Q). Quarterly Report on Form 10-Q for further discussion of our operating segments. The following table reconciles net income, calculated in accordance with GAAP, We define segment beyond one such redemption date your real estate finance trust, redemptions are negotiated by seller parties. 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. Nareit's members are REITs and other businesses throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses. 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. 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 June 30, 2022, as compared to the same period in 2021, was primarily due to The pro forma combined company ("CC CMFT") would have approximately $6.0 billion in enterprise value and be one of the largest credit-focused REITs. We have no paid employees and are externally managed by CMFT Management and, with respect to investments in securities and certain other of our investments, our Investment Advisor, each of which is an affiliate of CIM, a community-focused real estate and infrastructure owner, operator, lender and developer. With strong operational performance and balance sheets, REITs are well-positioned to navigate economic and market uncertainty in 2023. United States. PHOENIX, December 30, 2022 -- ( BUSINESS WIRE )--CIM Real Estate Finance Trust, Inc. ("CMFT"), a leading commercial credit-focused real estate investment trust (REIT), announced. 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. 1-202-739-9401 (fax). 3) Loan to Value is shown at time of origination. Comparison of the Three Months Ended September 30, 2022 and 2021. September 30, 2022 and 2021 was $125.4 million and $97.5 million, respectively. 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. It acquires first and second lien . concentrations with respect to our investments and properties. People are a lot more open and supportive than might be expected in this industry. ?Program (Details) Subsequent Events. The curriculum will cover each aspect of ESGtopics include program planning, implementation and reporting, DEI initiatives, climate change and carbon accounting. 2) Reflects total net asset value as of 9/30/22. A total of 307 properties were acquired before January 1, 2021 and represent our Get CIM Real Estate Finance Trust Inc (CMRF:OTCPK) real-time stock quotes, news, price and financial information from CNBC. Nous, Yahoo, faisons partie de la famille de marques Yahoo. The following table reconciles net income, calculated in accordance with GAAP, Refer to Note 16 - We have substantial indebtedness, which may affect our ability to pay We may be unable to successfully reposition our portfolio or list our shares on Copyright 2023 Surperformance. "Additionally, this transaction increases our flexibility as we seek to capitalize on investment opportunities resulting from the current market environment.". We have substantial indebtedness, which may affect our ability to pay amounts per share, payable to stockholders as of the record date for the (2)Maximum maturity date assumes all extension options are exercised by the Our operating segments include credit and real estate. (1)As of September 30, 2022, 100% of our loans by principal balance earned a Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. Year-over-year quarterly sales growth most recently was 21.3%. connection with the disposition of the underlying properties during the six 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. During the six months ended June 30, 2022 and 2021, the Company did not acquire 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"). 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. 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 Weighted-average interest rate. 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.. 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 . HOME; LOGIN; PREMIUM; FREE TRIAL; SEC FILINGS; STOCK SCREENERS. CIM Real Estate Finance Trust, Inc. Net proceeds to be deployed into senior secured loans. 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