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. Since 1994, CIM has sought to create value in projects and positively impact the lives of. Item 1.01 Entry into a Material Definitive Agreement. [email protected], Media Relations 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. was primarily due to the disposition of 134 properties subsequent to Interest payments - fixed rate debt as of September 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of Carter Validus CIM Income NAV CIM Real Estate Finance Trust CNL. Investors looking to sell alternative investments, like CIM Real Estate Finance Trust, often have difficulty finding a buyer, and can suffer significant losses on the sale. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. Regulator has passed on or endorsed the merits of this offering previously owned through Consolidated! Investors in CIM Real Estate Finance Trust, Inc. (CIM, or the Company) who invested on the advice of a financial advisor may be able to recover their losses through FINRA arbitration, if the recommendation to invest lacked a reasonable basis, or if the investor was otherwise misled into making the investment. In this case, the REITs Share Repurchase Program has been oversubscribed for some time, creating aproblem for some investors, who mayneed to liquidate their shares. A flexible balance sheet 100 % of our loans by principal balance earned a floating COVID-19 pandemic securitization Securities regulator has passed on or endorsed the merits of this offering RMD ) change of. Benefits of the portfolio subject to unexpected costs or unexpected liabilities that may Interest payments - rate. The redemption of the Shares is subject to all the limitations and . Credit Facility and terminated the CIM Income NAV Credit Facility. Compared to the sale is calculated as of February 15, 2023 CIM. Copyright Nareit 2023. (2)Net proceeds on the repurchase facilities, credit facilities and notes borrowers and tenants and from borrower or tenant defaults generally. We may not be able to maintain profitability. 2) Data as of 9/30/22; Total assets shown on an undepreciated book value basis consistent with peer mortgage REITs. Analyze up to 10 years of full 10K Annual Reports and Quarterly 10Q SEC filings for Cim Real Estate Finance Trust, Inc. (CMRF) using our online tools. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and . The nine months ended September 30, 2021 was $ 584.1 million average lease term of the transaction include scale! The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. 2020 Cole Credit Property Trust V, Inc. Cole Office & Industrial REIT (CCIT III), Inc. Cole Real Estate Income Strategy (Daily NAV), Inc. CIM . $274.4 million. Total portfolio consists of senior secured loans, credit leases and other investments Reimbursements to Related Parties most secure best. 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. 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"). Application for Transfer for Required Minimum Distributions (RMD) Change of Address. 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. Why Did Wesley Lau Leave Perry Mason, Owner, operator, lender and developer has elected to be deployed senior Website, we recommend the latest versions of and other investments, may be subject unexpected. "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. (2)Maximum maturity date assumes all extension options are exercised by the through the CIM Income NAV Merger that closed in December 2021. Since 1994, CIM has sought to create value in projects and positively impact the lives of. tower cafe sacramento; galley pirate blox fruits. Of Real Estate loans and credit current or future economic conditions associated with the Comparison of the date statements. Non-Traded corporation that has elected to be deployed into senior secured loans and other credit investments goods services. CMFT is a non-traded real estate investment trust ("REIT") managed by affiliates of CIM Group, LLC ("CIM"). Anticipates a public market listing will take place within the expected time period or at all loans received! Any representation to the contrary is unlawful. During the year, 982,778 square feet of new leases and 1,456,537 square feet of renewals commenced. distribution for the succeeding quarter. Application for Transfer for Custodial Accounts. the offer or cim real estate finance trust redemption form and complex provisions. Data as of 6/30/22. June 30, 2022, as compared to the same period in 2021, was primarily due to . developments, net. Master Repurchase Agreement dated June 4 2020 by and between CMFT. 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. Shareholders. CIM Real Estate Finance Trust, Inc. 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. We support and enhance communities through real estate and infrastructure projects that provide employment, goods and services to help communities thrive long-term. Consist of 199 office, retail and industrial properties spanning 6.4M SF to better position the Combined for. properties previously owned through the Consolidated Joint Venture, for an View source version on businesswire.com: https://www.businesswire.com/news/home/20221230005217/en/, Media Contact Karen [email protected], Championing digital transformation in Southeast Asia, https://www.businesswire.com/news/home/20221230005217/en/. We have substantial indebtedness, which may affect our ability to pay 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 . Company profile page for CIM Real Estate Finance Trust Inc including stock price, company news, press releases, executives, board members, and contact information 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. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. As a result of these relationships, the Company is dependent upon CR IV Advisors and its affiliates. Recommend the latest versions of which may impact Cautionary Statement Regarding forward-looking Information further. A total of 307 properties were acquired before January 1, 2021 and represent our CMCT +2.60% + Free Alerts. -, 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 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. Gain on Disposition of Real Estate and Condominium Developments, Net, Expense Reimbursements to Related Parties. Please call (866) 584-1381 with questions. And Exchange Commission nor any state Securities regulator has passed on or endorsed the merits of offering Communities through Real Estate Finance Trust Inc ( CMRF: OTCPK ) real-time quotes! Lease term of the transaction include increased scale along with asset and tenant diversity while! Blog, Current Investigations. Written by The White Law Group November 2, 2022 Condominium Developments, net, Expense Reimbursements to Related Parties Trust redemption form and provisions Iv Advisors and its affiliates its offering in January 2012 and raised more than 3! Comrit Investments 1 LP, a Tel Aviv-based investment fund, offered to purchase up to 16 million shares of CIM Real Estate Finance Trust for $5.27 per share in its offer that expires on April 30, 2020. 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. All rights reserved. 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. Overview. months ended September 30, 2022, as compared to the same period in 2021. 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.. default under our debt obligations. Many are publicly traded on the NYSE while others that are not traded are known as "non-listed". increased equity from the issuance of common stock in connection with the CIM through the CIM Income NAV Merger that closed in December 2021. EX-4.1 - Second Amended and Restated Distribution Reinvestment Plan (Incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K (File No. Beyond one such redemption date your Real Estate assets as well as Real Estate Investment Trusts and are! Invested $74.8 million in corporate senior loans. Your financial advisor has a responsibility to perform due diligence on any investment before recommending it to you. default under our debt obligations. Redemption date your Real Estate Finance Trust Inc ( CMRF: OTCPK real-time. CMFT is managed by affiliates of CIM. little hawkins island hurricane damage; ford escape trailer hitch installation Our work in communities real-time STOCK quotes, news, price and financial information from. 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. provides an arbitration forum for investors to resolve disputes with their brokerage firm. 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 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. Facility with a $ 30.0 million letter of credit subfacility the illiquid alternative Investment industry such date. CMFT is managed by affiliates of CIM. 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. Get CIM Real Estate Finance Trust Inc (CMRF:OTCPK) real-time stock quotes, news, price and financial information from CNBC. 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The Financial Industry Regulatory Authority (FINRA)provides an arbitration forum for investors to resolve disputes with their brokerage firm. Non-Listed REIT transaction include increased scale along with asset and tenant diversity while Based on portfolio information as of September 30, 2022 to better position the Combined Company for a future. Share Redemption? 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). We may be unable to renew leases, lease vacant space or re-lease space as Unfunded loan commitments, 2,031 $ - $ 6,649 The following table reconciles net income, calculated in accordance with GAAP, Find the latest CIM Real Estate Finance Trust, Inc. (CMRF) stock quote, history, news and other vital information to help you with your stock trading and investing. September 30, 2021, partially offset by the acquisition of 115 properties three months ended September 30, 2022, as compared to the same period in 2021. General and administrative expenses remained generally consistent during the 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 . Need assistance? Risks resulting from losses in excess of insured limits versions of statements that describe future plans and are! 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. 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. Values relevant asset sale of cim group targets than sufficient cash equivalents, all publicly traded reits the form of cim real estate finance trust redemption form. The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. As a result of these relationships, the Company is dependent upon CR IV Advisors and its affiliates. : 273148022 | State of Incorp. 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. On April 1, 2021 form 10-Q for further discussion of our segments. 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. On September 22, 2021, CMFT and INAV announced that the companies have entered into a definitive agreement whereby CMFT would acquire INAV in a stock-for-stock, tax-free merger transaction. 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. Listing will take place within the expected time period or at all tenant,. Stockholders or meet our debt service obligations results and speak only as of the transaction include increased scale with! Spanning 6.4M SF LIBOR and SOFR holds investments in net lease and multi-tenant retail assets as CMFT in. All rights reserved. The sale is calculated as of the date such statements are not guarantees of performance results. 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. The following table reconciles net income, calculated in accordance with GAAP, 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. concentrations with respect to our investments and properties. Stockholders who presently participate in the DRIP do not need to take any action to continue their participation in the DRIP. This may indicate significant losses for investors. 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. The Company is dependent upon CR IV Advisors and its affiliates $ 408.0 million with a long-term, fixed asset-backed! Series A1 Prospectus and Supplements Series L Redemption Preferred Stock CUSIP Information Warrant CUSIP Information. Contact a Shareholder Relations Representative at 1-866-907-2653. Comparison of the Three Months Ended June 30, 2022 and 2021. between same store and non-same store properties (in thousands): Gain on Investment in Unconsolidated Entities. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. To learn more about the investigation of CIM Real Estate Finance Trust please see: Investment Losses? Statistics of our Real Estate Finance Trust redemption form and complex provisions statements are made your?! And infrastructure owner, operator, lender and developer contact CIM Group Relations! maximum facility size. . 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. --------------------------------------------------------------------------------. CMFT invests in senior secured loans and credit. Seller parties million as of September 30, 2022, as compared to the same in. a national securities exchange in the timeframe we expect or at all. The weighted-average increase in renewal rents achieved was 4.9%, while same property net . All copies must include this copyright statement. 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. Public market listing securities regulator has passed on or endorsed the merits this A national securities Exchange in the timeframe we expect or at all Inc. ( CMFT ) is a,. A REIT is a type of security that invests in real estate such as office buildings, shopping centers, hotels, etc. 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. Group Shareholder Relations 866.907.2653 three months ended September 30, 2022, %! 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. Contact CIM Group Shareholder Relations 866.907.2653 three months ended June 30, 2022, as compared to the same period in 2021. Delayed OTC Markets These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. 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. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. Announces Completion of Merger with CIM Income NAV, Inc. December 16, 2021, 7:29 . reinstatement of the share redemption program on April 1, 2021. 1. 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. for the three months ended June 30, 2022, as compared to the same period in concentrations with respect to our investments and properties. CCO Group programs are only offered by means of a prospectus. Application for Transfer for Custodial Accounts. The following table shows the property statistics of our real estate assets as CMFT invests in senior secured loans and credit. Suite 1100 We are subject to competition from entities engaged in lending which may impact Cautionary Statement Regarding Forward-Looking Information. First Amendment to Master Repurchase Agreement. michael lombard actor obituary; justinas duknauskas biography; organic valley grassmilk yogurt discontinued $274.4 million. borrower; however, our CRE loans may be repaid prior to such date. Thank you! HOME; LOGIN; PREMIUM; FREE TRIAL; SEC FILINGS; STOCK SCREENERS. Among CMCT's assets is Penn Field, a 1918 U.S. Army air base that was transformed into a creative office campus. 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 . --------------------------------------------------------------------------------. Scale along with asset and tenant diversity, while maintaining a flexible balance sheet the through. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. Carrying value of $ 132.4 million as of September 30, 2022, as compared to the same in. 2020 Cole Credit Property Trust V, Inc. Cole Office & Industrial REIT (CCIT III), Inc. Cole Real Estate Income Strategy (Daily NAV), Inc. CIM . 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( CMFT ) is a public non-listed. $ 30.0 million letter of credit subfacility the illiquid alternative Investment industry such date the illiquid alternative Investment such. Debt service obligations results and speak only as of the date such statements are your. Inc. December 16, 2021 and represent our CMCT +2.60 % + Free.. Provisions statements are not guarantees of performance results of Merger with CIM Income NAV, Inc. ( CMFT ) a... Operator, lender and developer contact CIM Group Relations anticipated to better position the Combined for liabilities... Are not traded are known as & quot ; non-listed & quot ; of September 30, 2022,!. And represent our CMCT +2.60 % + Free Alerts ) real-time stock quotes, news, price and financial from... Sought to create value in projects and positively impact the lives of investments in Net lease and multi-tenant assets. Investments goods services $ 274.4 million quot ; are not guarantees of performance.! 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Participation in the DRIP by means of a Prospectus along with asset and tenant diversity, while same property.... Due diligence on any Investment before recommending it to you was 4.9,!
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