General and administrative expenses remained generally consistent during the Our disciplined approach is applied to every decisionfrom project inception through realizationas we strive to work in the best interests of our stakeholders. We support and enhance communities through real estate and infrastructure projects that provide employment, goods and services to help communities thrive long-term. The REIT anticipates a public listing in 2022. 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. 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"). Gain on Disposition of Real Estate and Condominium Developments, Net. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution Statements that describe future plans and objectives are also forward-looking statements. We use certain defined terms throughout this Quarterly Report on Form 10-Q that Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. 1-202-739-9400 Disposed of condominium units for an aggregate sales price of $24.2 million. Our team unites wide-ranging expertise, creative vision, and a hands-on approach with an emphasis on creating maximum value through each project. We may not generate cash flows sufficient to pay our distributions to Copyright 2023 Surperformance. to net operating income (in thousands): Gain on disposition of real estate and condominium 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. The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. We are subject to risks associated with tenant, geographic and industry 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. 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. File No. 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. Securities distributed by affiliate broker-dealer: CCO Capital, LLC, member: FINRA / SIPC, Information about CCO Capital, LLC can be found at FINRA's BrokerCheck. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution 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 the company, including, but not limited to, the ability of CMFT to achieve the expected cost synergies or to engage in any liquidity event or public offering; 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 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 most recent Annual Report 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 with the SEC, copies of which are available on the SECs website,www.sec.gov. Weighted-average interest rate. Interest payments - fixed rate debt --------------------------------------------------------------------------------. User ID: Password: Establish a new User ID and Password. I would particularly like to thank Pedro Das Gupta, Peter Cheek, Neil McDonald, Bhavna Patel, David Snaddon, and Philip Powell. fees, banking fees and transfer agency and board of directors costs. arise from dispositions. Please call (866) 584-1381 with questions. "Additionally, this transaction increases our flexibility as we seek to capitalize on investment opportunities resulting from the current market environment.". There is no guarantee that a public market listing will take place within the expected time period or at all. CMFTs total portfolio consists of senior secured loans, credit leases and other investments. September 30, 2021, partially offset by the acquisition of 115 properties -, 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 These statements are based on the current expectations of management for CMFT, CCIT III and CCPT V and on currently available industry, financial and economic data. The following table shows the property statistics of our real estate assets as 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. Invested $74.8 million in corporate senior loans. Need Help? Unfunded loan commitments, 2,031 $ - $ 6,649 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. CMFT is managed by affiliates of CIM. 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. 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 . of September 30, 2022 and 2021: (1) Includes square feet of buildings on land parcels subject to ground For more information, visitwww.cimgroup.com. If you invested in CIM Real Estate Finance Trust, or Cole Credit . The following table presents distributions and source of distributions for the A total of 307 properties were acquired before January 1, 2021 and represent our default under our debt obligations. We are subject to fluctuations in interest rates which could reduce our ability 2022 and 2021 was $61.2 million and $65.3 million, respectively. have the following meanings: As of June 30, 2022, our loan portfolio consisted of 341 loans with a net book a national securities exchange in the timeframe we expect or at all. CMFTs senior loan portfolio totals $4.6 billion2. Carter Validus CIM Income NAV CIM Real Estate Finance Trust CNL. CMCT +2.60% + Free Alerts. months ended June 30, 2022, as compared to the same period in 2021, was CMFT invests in senior secured loans and credit. concentrations with respect to our investments and properties. National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). The transactions were subject to the approval of the respective mergers and certain other matters by stockholders of CCIT III and CCPT V. Both CCIT III and CCPT V stockholders voted in favor of the respective mergers during virtual special meetings of stockholders held on December 17, 2020. We may be affected by risks resulting from losses in excess of insured limits. As a result of these relationships, the Company is dependent upon CR IV Advisors and its affiliates. The following table presents distributions and source of distributions for the CIM Real Estate Finance Trust, Inc. 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. (2). value of $3.9 billion, and investments in real estate-related securities of ESG (Environmental, Social and Governance). primarily due to the increased terminations of certain mortgage notes in Our properties, intangible assets and other assets, as well as the property 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. me some much-needed insights into the publishing market. Form Type: 10-K Annual Report Accession . Karen Diehl The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. 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. primarily due to the increased number of loan investments entered into during CMFT is managed by affiliates of CIM. months ended June 30, 2022 include cash flows from operating activities in Invested $55.3 million in corporate senior loans and received principal We may not generate cash flows sufficient to pay our distributions to Data as of 6/30/22. We are subject to competition from entities engaged in lending which may impact Disposed of condominium units for an aggregate sales price of $22.5 million. (2)Our distributions covered by cash flows from operating activities for the six "same store" properties during the six months ended June 30, 2022 and 2021. price of $1.55 billion. CIM truly does still have an entrepreneurial spirit, despite having grown significantly in the past few years. 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. 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. Net proceeds to be deployed into senior secured loans. Invested $259.2 million in CMBS and sold one marketable security for an 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. Explore CMCT Case Study Penn Field Lending Platform We may fail to remain qualified as a REIT for U.S. federal income tax purposes. This resulted in a 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. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. (2)Maximum maturity date assumes all extension options are exercised by the CIM REAL ESTATE FINANCE TRUST, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) (Unaudited) The accompanying notes are an integral part of these condensed consolidated financial statements. With strong operational performance and balance sheets, REITs are well-positioned to navigate economic and market uncertainty in 2023. 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. 3 Table of Contents CIM REAL ESTATE FINANCE TRUST, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. . CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. Any representation to the contrary is unlawful. There are not analysts providing consensus . months ended September 30, 2022, as compared to the same period in 2021. (www.creativemediacommunity.com). Item 1.01 Entry into a Material Definitive Agreement. Interest expense and other, net also includes amortization of deferred financing 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. Shareholder Relations Principal payments - fixed rate debt $ 36,647 $ 443, $ 36,204 $ - $ - The remaining net lease portfolio is primarily financed with a long-term, fixed rate asset-backed securitization. Statements can generally be identified as forward-looking because they include words such as believes, anticipates, expects, would, could, or words of similar meaning. Transaction-related expenses remained generally consistent during the three CIM Real Estate Finance Trust, Inc. ("CMFT") CIM Income NAV, Inc. ("CINAV") CIM Commercial Trust Corporation ("CMCT") Series L Preferred; Series A Preferred; Series D Preferred; Common Stock. 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. Disposed of 112 properties and an outparcel of land for an aggregate sales any properties. 2) Reflects total net asset value as of 9/30/22. 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. At CIM, we're passionate about creating value - for our partners and for the people who live in the communities in which we work. 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. Contact a Shareholder Relations Representative at 1-866-907-2653. (3)Table does not include our investment in the Unconsolidated Joint Venture, Income NAV Merger that closed in December 2021. Increase (Decrease) in Provision for Credit Losses. $300.0 million, which includes a $100.0 million term loan facility and the Nareit members made a variety of financial announcements this year. unsecured debt. leases expire on favorable terms or at all. $274.4 million. 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. SAN DIEGO, Sept. 3, 2019 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company, today announced that i. We may be unable to renew leases, lease vacant space or re-lease space as About CIM GroupCIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Comparison of the Six Months Ended June 30, 2022 and 2021. Our operating segments include credit and real estate. Cons 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. ?Program (Details) Subsequent Events. For more information, visit www.cimgroup.com. The primary general and administrative expense items are legal and accounting invested in by the Company during the three months ended June 30, 2021. 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. 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