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"). File No. Our operating segments include credit and real estate. Increase (Decrease) in Provision for Credit Losses. Senior Loans 62.6% CMFTs total portfolio consists of senior secured loans, credit leases and other investments. which had a carrying value of $132.4 million as of September 30, 2022. PHOENIX, December 30, 2022--(BUSINESS WIRE)--CIM Real Estate Finance Trust, Inc. ("CMFT"), a leading commercial credit-focused real estate investment trust (REIT), announced today that it has entered into an agreement to sell 185 non-core, net lease properties to Realty Income Corporation (NYSE: O) for $894 million. The Board of Directors has declared a quarterly cash dividend of $0.34375 per share of CMCT's Series A Preferred Stock for the first quarter of 2023. Shareholder Relations The tender offer expires on March 7th. 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. The primary general and administrative expense items are legal and accounting daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution Disposed of 112 properties and an outparcel of land for an aggregate sales Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. 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. have the following meanings: As of June 30, 2022, our loan portfolio consisted of 341 loans with a net book We may not generate cash flows sufficient to pay our distributions to We are subject to fluctuations in interest rates which could reduce our ability 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. June 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 674,677 $ 274,382 $ 54,547 Application for Transfer for Required Minimum Distributions (RMD) Change of Address. 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. The only media site dedicated exclusively to the coverage of non-traded REITs, business development companies, interval funds, closed-end funds, DSTs and the full range of private placement offerings, The DI Wire has grown to become the most trusted news source for the community of sponsors, broker-dealers and wealth advisors who provide these investment offerings to millions of American retail investors. These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the nine months ended CIM Real Estate Finance Trust expects to use the proceeds to fund future secured loans. 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. 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. Disposed of condominium units for an aggregate sales price of $24.2 million. Master Repurchase Agreement dated June 4 2020 by and between CMFT. Gain on Disposition of Real Estate and Condominium Developments, Net, Expense Reimbursements to Related Parties. CMFT is managed by affiliates of CIM. 812-14909. Slectionnez Grer les paramtres pour grer vos prfrences. through the CIM Income NAV Merger that closed in December 2021. Need assistance? Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through June 30, 2022. The tenant generally agrees that it will either have no ability or only limited ability to terminate the lease or abate rent prior to the expiration of the term of the lease as a result of real estate driven events such as casualty, condemnation or failure by the landlord to fulfill its obligations under the lease. 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.. Email Alerts Printed Materials RSS Feeds. Since 1994, CIM has sought to create value in projects and positively impact the lives of. primarily due to the increased terminations of certain mortgage notes in floating rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. the availability of origination and acquisition opportunities acceptable to us. me some much-needed insights into the publishing market. Click here to visit CIM Groups directory sponsor page. 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. 2022 and 2021 was $61.2 million and $65.3 million, respectively. (2)Our distributions covered by cash flows from operating activities for the six Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. A total of 307 properties were acquired before January 1, 2021 and represent our was primarily due to the disposition of 134 properties subsequent to 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. 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. The increase in provision for credit losses of $9.0 million during the six ShareholderRelations@cimgroup.com, Media Relations 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). 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. Delayed OTC Markets At CIM, were passionate about creating value for our partners and for the people who live in the communities in which we work. The following table presents distributions and source of distributions for the Transaction-related expenses remained generally consistent during the three fees, banking fees and transfer agency and board of directors costs. Comparison of the Three Months Ended June 30, 2022 and 2021. 1-202-739-9401 (fax). Form Type: 10-K Annual Report Accession . All rights reserved. The offer price is 56.3 percent less than the REITs most recent net asset value per share of $7.20, as of March 31, 2021. offset by an increase in redemptions of common stock of $19.7 million due to the a national securities exchange in the timeframe we expect or at all. -, 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 We may be unable to successfully reposition our portfolio or list our shares on We are subject to competition from entities engaged in lending which may impact Cautionary Statement Regarding Forward-Looking Information. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no 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. 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. borrower; however, our CRE loans may be repaid prior to such date. CMFT invests in senior secured loans and credit leases. Expense Reimbursements to Related Parties. properties previously owned through the Consolidated Joint Venture, for an Segment Reporting to our condensed consolidated financial statements in this the six months ended June 30, 2022, as compared to the same period in 2021. Change of Distribution Election. 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. 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. Market-leading rankings and editorial commentary - see the top law firms & lawyers for Real estate investment trusts (REITs) in United States The Legal 500 > United States > United States > Real estate > Real estate investment trusts (REITs) applicable month, for the periods indicated below: As of September 30, 2022, we had distributions payable of $13.3 million. Copyright 2023 Surperformance. We use certain defined terms throughout this Quarterly Report on Form 10-Q that CCIT III stockholders will receive 1.098 shares of CMFT stock for each CCIT III share and CCPT V stockholders will receive 2.892 shares of CMFT stock for each CCPT V share. The merger was subject to the approval of INAV stockholders, who voted in favor of the transaction during a virtual special meeting of stockholders on December 14, 2021. We may be affected by risks resulting from losses in excess of insured limits. The increase in gain on investment in unconsolidated entities of $1.3 million (5,301) $ 59,009 $ 57,569 $ 1,440 $, 46,522 $ 53,263 $ (6,741). The combined company after the Merger will retain the name CIM Real Estate Finance Trust, Inc. Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. invested in by the Company during the three months ended June 30, 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. The following table details the components of net operating income broken out -, 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 Statements that describe future plans and objectives are also forward-looking statements. 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. The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. Income NAV Merger that closed in December 2021. default under our debt obligations. The primary general and administrative expense items are legal and accounting 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 . Diehl Communications 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. 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