cim real estate finance trust redemption form

of Operations (form 10-Q). fees, banking fees and transfer agency and board of directors costs. Transaction-related expenses remained generally consistent during the three ability to borrow up to $200.0 million in revolving loans under a revolving All rights reserved. Unfunded loan commitments, 1,886 $ - $ 4,324 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 CMFTs control, including, but not limited to, those associated with the risk that a public listing of securities or other liquidity opportunities may not be realized within an expected time period or at all; the availability of and access to the capital markets or other financing sources; the availability of suitable investment or disposition opportunities; the impact of the COVID-19 pandemic on the operations and financial condition of CMFT and the real estate industry in which it operates, including with respect to occupancy rates, rent deferrals and the financial condition of 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 most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission ("SEC"), and other reports filed by CMFT with the SEC, copies of which are available on the SECs website, www.sec.gov. 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. costs. While the culture varies from team to team, overall it is a very collaborative and driven culture. Explore CMCT Case Study Penn Field Lending Platform Our management team consists of principals and managing directors who bring expertise from a wide range of disciplines to support our work in communities. 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. value of $3.9 billion, and investments in real estate-related securities of Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. Net income attributable to the Company of $128.2 million, or $0.29 per share. 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. Customer Relationship Summary and Disclosure. 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. We may not generate cash flows sufficient to pay our distributions to We may be affected by risks resulting from losses in excess of insured limits. Copyright Nareit 2023. excess of distributions from prior periods of $18.7 million. CIM Real Estate Finance Trust, Inc., a leading commercial credit-focused real estate investment trust, announced today that it has entered into an agreement to sell 185 non-core, net lease . through the CIM Income NAV Merger that closed in December 2021. to generate income on our credit investments. $300.0 million, which includes a $100.0 million term loan facility and the Any representation to the contrary is unlawful. unsecured debt. Year-over-year quarterly sales growth most recently was 21.3%. 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 . September 30, 2021, partially offset by the acquisition of 115 properties Comparison of the Six Months Ended June 30, 2022 and 2021. Principal payments - fixed rate debt $ 95,317 $ 16,238, $ 79,079 $ - $ - Form Type: 10-K Annual Report Accession . 3 Table of Contents CIM REAL ESTATE FINANCE TRUST, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Forgot your User ID? 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. 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. The following table presents distributions and source of distributions for the The following table details the components of net operating income broken out Need Help? General and administrative expenses remained generally consistent during the maximum facility size. Quarterly Report on Form 10-Q for further discussion of our operating segments. The tender offer expires on March 7th. Announces Completion of Merger with CIM Income NAV, Inc. ESG (Environmental, Social and Governance). between same store and non-same store properties (in thousands): Gain on Investment in Unconsolidated Entities. CMFT invests in senior secured loans and credit leases. Delayed OTC Markets Shares of this non-traded real estate investment trust ( REIT), formerly known as Cole Credit Property Trust IV, were originally sold for $10 per share. User ID: Password: Establish a new User ID and Password. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. 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. Financial Documents SEC Filings Tax Information. If you invested in CIM Real Estate Finance Trust, or Cole Credit . Senior Loans 62.6% A total of 307 properties were acquired before January 1, 2021 and represent our CMFT invests in senior secured loans and credit. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Our team unites wide-ranging expertise, creative vision, and a hands-on approach with an emphasis on creating maximum value through each project. Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily 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. 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. Cautionary Statement Regarding Forward-Looking Information. 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. Weighted-average interest rate. The decrease in depreciation and amortization of $19.1 million during the nine Cons Net income attributable to the Company of $112.8 million, or $0.26 per share. (2)Maximum maturity date assumes all extension options are exercised by the Weighted-average interest rate. 2022 and 2021 was $61.2 million and $65.3 million, respectively. Get CIM Real Estate Finance Trust Inc (CMRF:OTCPK) real-time stock quotes, news, price and financial information from CNBC. We may be affected by risks resulting from losses in excess of insured limits. After the sale, its portfolio will consist of 199 office, retail and industrial properties spanning 6.4M SF. The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. 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. an aggregate gross sales price of $35.6 million. Disposed of 112 properties and an outparcel of land for an aggregate sales stockholders or meet our debt service obligations. September 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 691,981 $ 470,121 $ 56,424 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"). LOS ANGELES--(BUSINESS WIRE)--CIM Real Estate Finance Trust, Inc. (CMFT), Cole Office & Industrial REIT (CCIT III), Inc. (CCIT III) and Cole Credit Property Trust V, Inc. (CCPT V) today announced that CMFT has acquired each of CCIT III and CCPT V in separate stock-for-stock, tax-free merger transactions pursuant to definitive agreements executed in August 2020 and amended in October and November 2020. 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. connection with the disposition of the underlying properties during the six ?Program (Details) Subsequent Events. 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 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. We use certain defined terms throughout this Quarterly Report on Form 10-Q that Item 1.01 Entry into a Material Definitive Agreement. Unfunded loan commitments, 2,031 $ - $ 6,649 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 believe the deployment of net sales proceeds will continue to advance our program to generate sustainable and increasing dividends for our shareholders through earnings growth," said Richard Ressler, Chairman of the Board of Directors, President and CEO of CMFT, and Principal and Co-Founder of CIM Group. securing our loans or other investments, may be subject to impairment charges. Segment Reporting to our condensed consolidated financial statements in this ShareholderRelations@cimgroup.com, Media Relations 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. Application for Transfer for Non-Custodial Accounts. 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. As a result of these relationships, the Company is dependent upon CR IV Advisors and its affiliates. 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. distribution for the succeeding quarter. 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. Shareholders. 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"). The increase in management fees of $3.4 million during the six months ended These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. 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. 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. Increase (Decrease) in Provision for Credit Losses. National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). Informations sur votre appareil et sur votre connexion Internet, y compris votre adresseIP, Navigation et recherche lors de lutilisation des sites Web et applications Yahoo. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no which had a carrying value of $132.4 million as of September 30, 2022. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. Share Redemption? Disposed of 130 properties and an outparcel of land, including the two 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 carrying value of our portfolio by investment type 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 Combined Company will provide several benefits for stockholders and will be well-positioned to navigate the post-COVID economic environment with enhanced financial and operational flexibility and efficiency, making the Combined Company more valuable, said Richard Ressler, Principal and Co-Founder of CIM Group. 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. 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 .. Statements can generally be identified as forward-looking because they include words such as believes, anticipates, expects, would, could, or words of similar meaning. The primary general and administrative expense items are legal and accounting We could be subject to unexpected costs or unexpected liabilities that may The following table reconciles net income, calculated in accordance with GAAP, Karen Diehl have the following meanings: Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through September 30, 2022. (1)As of June 30, 2022, 100% of our loans by principal balance earned a floating Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. IR Resources. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. 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. Forgot your Password? to net operating income (in thousands): Gain on disposition of real estate and condominium Interest payments - fixed rate debt 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. June 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 674,677 $ 274,382 $ 54,547 "Non-same store" properties, for purposes of the table below, includes an aggregate gross sales price of $53.7 million. About CIM GroupCIM is a community-focused real estate and infrastructure owner, operator, lender and developer. The following table presents distributions and source of distributions for the Our properties, intangible assets and other assets, as well as the property Shareholder Relations three months ended September 30, 2022, as compared to the same period in 2021. 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. HOME; LOGIN; PREMIUM; FREE TRIAL; SEC FILINGS; STOCK SCREENERS. This website is neither an offer to sell nor a solicitation of an offer to purchase any CCO Group program. have the following meanings: As of June 30, 2022, our loan portfolio consisted of 341 loans with a net book CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. to generate income on our credit investments. aggregate sales price of $1.71 billion. costs. Data as of 6/30/22. Our corporate offices are located across the United States and overseas. a national securities exchange in the timeframe we expect or at all. Cim Real Estate Finance Trust Inc does not have a meaningful P/E due to negative earnings over the last 12 trailing months. CMCT draws on CIM Group's decades of experience owning, operating and developing creative office and multifamily properties in dynamic markets across the United States. Other Credit Investments 13.4%, Net Lease Retail 77.9%Net Lease Office 12.1%Net Lease Industrial 4.2%Other 5.8%. concentrations with respect to our investments and properties. 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 was primarily due to the disposition of 134 properties subsequent to 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. The decrease in depreciation and amortization of $5.9 million during the three distribution for the succeeding quarter. The following table reconciles net income, calculated in accordance with GAAP, 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. In determining the estimated per share NAV, the Board considered information and analysis including valuation materials that were provided by Kroll, LLC ("Kroll"), information provided by the Company's manager, CIM Real Estate Finance Management, LLC ("CMFT Management"), and the estimated per share NAV recommendation made by the Audit Committee. acquire any properties. Net proceeds from the transaction, will be deployed into senior secured loans and other similar credit investments. (5,301) $ 59,009 $ 57,569 $ 1,440 $, 46,522 $ 53,263 $ (6,741). Comparison of the Three Months Ended September 30, 2022 and 2021. 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. File No. (www.creativemediacommunity.com). The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no Its segments include Credit and Real estate. "Additionally, this transaction increases our flexibility as we seek to capitalize on investment opportunities resulting from the current market environment.". (2)Our distributions covered by cash flows from operating activities for the six 1-202-739-9401 (fax). The DI Wire is the definitive news source for the illiquid alternative investment industry. Account Log In. (3)Net proceeds on the repurchase facilities, credit facilities and notes invested in by the Company during the three months ended June 30, 2021. 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. This contact form is not for media related inquiries. 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. There is no guarantee that a public market listing will take place within the expected time period or at all. Contact CIM Group Shareholder Relations 866.907.2653 Delayed OTC Markets Data as of 9/30/22, dollar amounts and square footages for all properties are approximate and include the square feet of buildings that are on land subject to ground leases. Gain on Disposition of Real Estate and Condominium Developments, Net. We are subject to fluctuations in interest rates which could reduce our ability Invested $55.3 million in corporate senior loans and received principal 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"). Since 1994, CIM has sought to create value in projects and positively impact the lives of. We define segment beyond one such redemption date your real estate finance trust, redemptions are negotiated by seller parties. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution me some much-needed insights into the publishing market. amounts per share, payable to stockholders as of the record date for the 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). floating rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. distributions and expose us to interest rate fluctuation risk and the risk of CMFT is a non-traded real estate investment trust ("REIT") managed by affiliates of CIM Group, LLC ("CIM"). Converted $68.2 million of preferred units into a CRE loan upon maturity. CMFT invests in senior secured loans and credit. 2020 Cole Credit Property Trust V, Inc. Cole Office & Industrial REIT (CCIT III), Inc. Cole Real Estate Income Strategy (Daily NAV), Inc. CIM . 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. 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. We may be unable to renew leases, lease vacant space or re-lease space as months ended September 30, 2022, as compared to the same period in 2021. 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 . 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. Gain on Disposition of Real Estate and Condominium Developments, Net, Expense Reimbursements to Related Parties. 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. Statements that describe future plans and objectives are also forward-looking statements. We may not generate cash flows sufficient to pay our distributions to The weighted average lease term of the portfolio subject to the sale is calculated as of February 15, 2023. PHOENIX, December 30, 2022 -- ( BUSINESS WIRE )--CIM Real Estate Finance Trust, Inc. ("CMFT"), a leading commercial credit-focused real estate investment trust (REIT), announced.

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