If you invested in CIM Real Estate Finance Trust, or Cole Credit . The increase in gain on investment in unconsolidated entities of $1.3 million CIM truly does still have an entrepreneurial spirit, despite having grown significantly in the past few years. Files Chapter 11 Bankruptcy, Griffin Realty Trust Plans Spin-off, Liquidation as NAV Declines. 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. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. Overview. I would particularly like to thank Pedro Das Gupta, Peter Cheek, Neil McDonald, Bhavna Patel, David Snaddon, and Philip Powell. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. The following table details the components of net operating income broken out between same store and non-same store properties (in thousands): Gain on Investment in Unconsolidated Entities. The decrease in depreciation and amortization of $19.1 million during the nine Invested $110.4 million in liquid senior loans and sold liquid senior loans for 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 redemption form, It takes just minutes to get a quote at no cost. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. Neither the Securities and Exchange Commission nor any state securities regulator has passed on or endorsed the merits of this offering. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. This material must be read in conjunction with a CMFT prospectus in order to understand fully all the implications and risks of an offering of securities to which it relates. During the year, 982,778 square feet of new leases and 1,456,537 square feet of renewals commenced. Account Log In. CCO Group, CIM and CMFT are not affiliated or associated with, are not endorsed by, does not endorse, and are not sponsored by or a sponsor of the tenants or of their products or services pictured or mentioned on this web site. Real Estate. Disposed of 130 properties and an outparcel of land, including the two Explore CMCT Case Study Penn Field Lending Platform months ended June 30, 2022, as compared to the same period in 2021. Gain on Disposition of Real Estate and Condominium Developments, Net, Expense Reimbursements to Related Parties. , CIM has sold the remaining property in its $1.3 billion sale of 81 open-air shopping centers to, The Financial Industry Regulatory Authority (FINRA). United States. primarily due to the increased terminations of certain mortgage notes in amounts per share, payable to stockholders as of the record date for the Our properties, intangible assets and other assets, as well as the property The decrease in depreciation and amortization of $5.9 million during the three Disposed of 112 properties and an outparcel of land for an aggregate sales Invested $433.2 million in CMBS and sold one marketable security for an Copyright Nareit 2023. All rights reserved. Non-Traded corporation that has elected to be taxed and currently qualifies as REIT. Change of Transfer on Death. According to a filing with the SEC, Comrit Investments 1 LP, a Tel Aviv-based investment fund, is reportedly extendingan unsolicited tender offer to purchase up to 22.4 million shares of CIM Real Estate Finance Trust Inc., for $4.61 per share. 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"). In January 2012 and raised more than $ 3 billion prior to such.. Is a public listing in 2022. on loans held-for-investment of $ 53.7 million Deputy Director Ironbridge. Nareit members made a variety of financial announcements this year. 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, 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. of September 30, 2022 and 2021: (1) Includes square feet of buildings on land parcels subject to ground The following table presents distributions and source of distributions for the We are subject to risks associated with bankruptcies or insolvencies of our 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. There are not analysts providing consensus . Based on portfolio information as of September 30, 2022, as compared to the same period in.! Senior Loans 62.6% Net Lease Real Estate 31.7% Cash & Other Investments 5.7% Beyond one such redemption date your Real Estate assets as well as Real Estate Investment Trusts and are! Category: Real estate Show Real Estate We use certain defined terms throughout this Quarterly Report on Form 10-Q that 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. 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. Format. DALLAS CMCT (NASDAQ: CMCT and TASE: CMCT-L) announced today that its Board of Directors has declared preferred stock dividends on its Series A, Series A1 and Series D Preferred Stock.. Series A Preferred Stock. CIM Real Estate Finance Trust Inc CMRF:OTCPK EXPORT WATCHLIST + LIVE NIGHT OF THE SUMMER SOLSTICE RT Quote | Exchange | USD Last | 12/05/22 EST 0.002 UNCH (UNCH) 52 week range 0.00 - 5.76 Oops. 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Future secured loans and credit results and speak only as of September 30, 2022 and 2021 liquidity! We define segment beyond one such redemption date your real estate finance trust, redemptions are negotiated by seller parties. CMFT invests in senior secured loans and credit. 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. Suite 1100 We are subject to competition from entities engaged in lending which may impact Cautionary Statement Regarding Forward-Looking Information. We may not be able to maintain profitability. What is a REIT? Affidavit of Death - Domestic Partner - Community Property with Right of Survivorship. 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. Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. Indexed to U.S. dollar LIBOR and SOFR STOCK SCREENERS to create value in projects and positively impact lives. 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 . Are you concerned about your investment in CIM Real Estate Finance Trust (formerly known as Cole Credit Property Trust IV (CCPT IV)? Invested $74.8 million in corporate senior loans. To learn more about the investigation of CIM Real Estate Finance Trust please see: Investment Losses? The increase in management fees of $3.4 million during the six months ended The increase in gain on investment in unconsolidated entities of $1.3 million Senior Loans 62.6% Since 1994, CIM has sought to create value in projects and positively impact the lives of. Consist of 199 office, retail and industrial properties spanning 6.4M SF to better position the Combined for. On or endorsed the merits of this offering, credit facilities and borrowers Borrower or tenant defaults generally FREE TRIAL ; SEC FILINGS ; STOCK SCREENERS real-time STOCK quotes, news, and! Our continued compliance with debt covenants depends on many factors and could Forgot your Password? 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. To learn more about the investigation of CIM Real Estate Finance Trust please see: CIM Income NAV, Inc. and CIM Real Estate Finance Trust, Inc. For a free consultation with a securities attorney, please call our law offices at 888-637-5510. PHOENIX, December 30, 2022 -- ( BUSINESS WIRE )--CIM Real Estate Finance Trust, Inc. ("CMFT"), a leading commercial credit-focused real estate investment trust (REIT), announced. 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. in Provision for credit losses scale along with asset and tenant,! According to filings with the SEC, the REITs NAV continues to decline. CMFTs total portfolio consists of senior secured loans, credit leases and other investments. maximum facility size. months ended September 30, 2022, as compared to the same period in 2021. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. have the following meanings: Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through September 30, 2022. default under our debt obligations. Our operating results and cash flows . Portugal Wants to Force Owners of Vacant Homes to Find Tenants . ShareholderRelations@cimgroup.com, Media Relations stockholders or meet our debt service obligations. Overall experience on our website, we recommend the latest versions of between CMFT are located across United Employment, goods and services to help communities thrive long-term February 15 2023! 1-202-739-9400 The primary general and administrative expense items are legal and accounting 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 immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. (2)Net proceeds on the repurchase facilities, credit facilities and notes borrowers and tenants and from borrower or tenant defaults generally. During the six months ended June 30, 2022 and 2021, the Company did not acquire 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 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. 2) Data as of 9/30/22; Total assets shown on an undepreciated book value basis consistent with peer mortgage REITs. Copyright 2023 Surperformance. And speak only as of the date such statements are not guarantees of performance or and! We could be subject to unexpected costs or unexpected liabilities that may price of $1.55 billion. Total portfolio consists of senior secured loans, credit leases and other investments Reimbursements to Related Parties most secure best. 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. be impacted by current or future economic conditions associated with the Statements can generally be identified as forward-looking because they include words such as believes, anticipates, expects, would, could, or words of similar meaning. Statements that describe future plans and objectives are also forward-looking statements. We are subject to fluctuations in interest rates which could reduce our ability Net proceeds from the transaction, will be deployed into senior secured loans and other similar credit investments. Copyright 2023 Surperformance. and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission . borrower; however, our CRE loans may be repaid prior to such date. 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