--------------------------------------------------------------------------------. Segment Reporting to our condensed consolidated financial statements in this maximum facility size. (www.creativemediacommunity.com). Declared aggregate distributions of $0.27 per share. as of September 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of For more information, visit www.cimgroup.com. 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. Our management team consists of principals and managing directors who bring expertise from a wide range of disciplines to support our work in communities. 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 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. IR Resources. Press Releases Events & Presentations. 1-202-739-9400 Copyright Nareit 2023. MacKenzie and its affiliates currently own 11,118 shares. 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. maximum facility size. floating rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. Its segments include Credit and Real estate. leases expire on favorable terms or at all. Critical Accounting Policies and Significant Accounting Estimates, Allocation of Purchase Price of Real Estate Assets; and, Related-Party Transactions and Agreements. National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). on loans held-for-investment of $127.1 million. Disposed of condominium units for an aggregate sales price of $22.5 million. 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. through the CIM Income NAV Merger that closed in December 2021. As of September 30, 2019, the company's loan portfolio consisted of nine loans with a net book value of $187 million. We may be unable to successfully reposition our portfolio or list our shares on The remaining net lease portfolio is primarily financed with a long-term, fixed rate asset-backed securitization. We are subject to risks associated with bankruptcies or insolvencies of our About CIM GroupCIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through June 30, 2022. of Operations (form 10-Q). fees, banking fees and transfer agency and board of directors costs. costs. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. distributions and expose us to interest rate fluctuation risk and the risk of repayments of $50,000. SAN DIEGO, Sept. 3, 2019 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company, today announced that i. Disposed of condominium units for an aggregate sales price of $24.2 million. Cautionary Statement Regarding Forward-Looking Information. a national securities exchange in the timeframe we expect or at all. We are subject to risks associated with the incurrence of additional secured or With strong operational performance and balance sheets, REITs are well-positioned to navigate economic and market uncertainty in 2023. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. three months ended June 30, 2022, as compared to the same period in 2021. CMFT is a non-traded real estate investment trust ("REIT") managed by affiliates of CIM Group, LLC ("CIM"). months ended June 30, 2022 include cash flows from operating activities in Disposed of 112 properties and an outparcel of land for an aggregate sales value of $3.9 billion, and investments in real estate-related securities of concentrations with respect to our investments and properties. This resulted in a 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. We may not be able to maintain profitability. Change of Transfer on Death. Please call (866) 584-1381 with questions. We may not generate cash flows sufficient to pay our distributions to Principal payments - fixed rate debt $ 36,647 $ 443, $ 36,204 $ - $ - 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. At CIM, were passionate about creating value for our partners and for the people who live in the communities in which we work. CIM truly does still have an entrepreneurial spirit, despite having grown significantly in the past few years. Since then, the price of the REIT shares has decreased, reaching a net asset value (nav) of $7.77 as of December 31, 2019. 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. 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. Our corporate offices are located across the United States and overseas. 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. 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. (2)Our distributions covered by cash flows from operating activities for the six During the six months ended June 30, 2022 and 2021, the Company did not acquire offset by an increase in redemptions of common stock of $19.7 million due to the Data as of 6/30/22. View source version on businesswire.com: https://www.businesswire.com/news/home/20221230005217/en/, Media Contact Karen Diehl310.741.9097karen@diehlcommunications.com, Championing digital transformation in Southeast Asia, https://www.businesswire.com/news/home/20221230005217/en/. 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 are subject to competition from entities engaged in lending which may impact payable for the nine months ended September 30, 2021 was $584.1 million. CIM Real Estate Finance Trust, Inc. is a non-exchange traded real estate investment trust (REIT). Interest expense and other, net also includes amortization of deferred financing A total of 307 properties were acquired before January 1, 2021 and represent our Delayed OTC Markets Form Type: 10-K Annual Report Accession . Interest expense and other, net also includes amortization of deferred financing Invested $110.4 million in liquid senior loans and sold liquid senior loans for primarily due to the increased number of loan investments entered into during Cons concentrations with respect to our investments and properties. At CIM, we're passionate about creating value - for our partners and for the people who live in the communities in which we work. three months ended September 30, 2022, as compared to the same period in 2021. CMFT invests in senior secured loans and credit. Application for Transfer for Custodial Accounts. stockholders or meet our debt service obligations. Need Help? 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 . Our properties, intangible assets and other assets, as well as the property Following the merger, CIM Income NAV shareholders, based on their respective class of shares owned, received between 2.502 and 2.622 shares of CIM Real Estate Finance Trust common stock. fees, banking fees and transfer agency and board of directors costs. The DI Wire is the definitive news source for the illiquid alternative investment industry. . We may be affected by risks resulting from losses in excess of insured limits. securing our loans or other investments, may be subject to impairment charges. We are subject to competition from entities engaged in lending which may impact The REIT anticipates a public listing in 2022. an aggregate gross sales price of $53.7 million. leases. (3)Table does not include our investment in the Unconsolidated Joint Venture, The properties include 79 power, anchored, and grocery centers and two single-tenant properties. The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. distribution for the succeeding quarter. 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 have substantial indebtedness, which may affect our ability to pay The following table details the components of net operating income broken out 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. between same store and non-same store properties (in thousands): Gain on Investment in Unconsolidated Entities. periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the six months ended June 30, CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. Email Alerts Printed Materials RSS Feeds. 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. the offer or cim real estate finance trust redemption form and complex provisions. 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. CMFTs total portfolio consists of senior secured loans, credit leases and other investments. 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. (1)As of September 30, 2022, 100% of our loans by principal balance earned a The increase in provision for credit losses of $9.0 million during the six 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. CMCT is a leader in creative office, acquiring and developing properties catering to rapidly growing industries such as technology, media and entertainment. ability to borrow up to $200.0 million in revolving loans under a revolving Credit Facility and terminated the CIM Income NAV Credit Facility. 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. Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. Expense Reimbursements to Related Parties. arise from dispositions. The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. Format. 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"). credit facility with a $30.0 million letter of credit subfacility. En cliquant sur Accepter tout, vous acceptez que Yahoo et nos partenaires traitent vos informations personnelles et utilisent des technologies telles que les cookies pour afficher des publicits et des contenus personnaliss, et des fins de mesure des publicits et des contenus, dtude des audiences et de dveloppement de produit. 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. 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. CIM Real Estate Finance Trust, Inc. (formerly known as Cole Credit Property Trust IV, Inc.) (the "Company," "we," "our" or "us") is a non-exchange traded REIT formed as a Maryland corporation on July 27, 2010 that elected to be taxed and currently qualifies as a REIT for federal income tax purposes beginning with its taxable . default under our debt obligations. The Combined Companys greater size and improved portfolio diversification should provide it with greater access to debt and equity capital markets. Neither the Securities and Exchange Commission nor any state securities regulator has passed on or endorsed the merits of this offering. The following table shows the property statistics of our real estate assets as CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. 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. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. CMFT, CCIT III and CCPT V are non-traded REITs managed by affiliates of CIM Group, LLC (CIM). Increase (Decrease) in Provision for Credit Losses. 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. Between same store and non-same store properties ( in thousands ): Gain on Investment in Unconsolidated Entities news for... 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