Comparison of the Three Months Ended June 30, 2022 and 2021. CMFT, CCIT III and CCPT V are non-traded REITs managed by affiliates of CIM Group, LLC (CIM). 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. News & Events. 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. offset by an increase in redemptions of common stock of $19.7 million due to the payable for the six months ended June 30, 2021 was $292.2 million. Stockholders may participate in CMFT's redemption plan upon completion of the proposed merger transaction and reinstatement of the redemption plan by the CMFT Board of Directors or, if one or more mergers is not completed, upon the reinstatement of the redemption plan by the Board of Directors of CCIT II, CCIT III or CCPT V, as applicable. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. September 30, 2021, partially offset by the acquisition of 115 properties We may not generate cash flows sufficient to pay our distributions to 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. All rights reserved. 2) Reflects total net asset value as of 9/30/22. as of June 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of (1)As of September 30, 2022, 100% of our loans by principal balance earned a Our operating segments include credit and real estate. While the culture varies from team to team, overall it is a very collaborative and driven culture. Principal payments - fixed rate debt $ 36,647 $ 443, $ 36,204 $ - $ - primarily due to the increased terminations of certain mortgage notes in properties previously owned through the Consolidated Joint Venture, for an The Financial Times library staff provided constant support and advice. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution January 9, 2023 - 4:03 pm. 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. 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. 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. Retail REITs Announce Financial Transactions in 2019. 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. Forgot your User ID? maximum facility size. borrowers and tenants and from borrower or tenant defaults generally. Copyright Nareit 2023. 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). (2). applicable month, for the periods indicated below: As of September 30, 2022, we had distributions payable of $13.3 million. Data as of 6/30/22. The Combined Companys greater size and improved portfolio diversification should provide it with greater access to debt and equity capital markets. (2)Our distributions covered by cash flows from operating activities for the six of September 30, 2022 and 2021: (1) Includes square feet of buildings on land parcels subject to ground repayments of $50,000. distributions and expose us to interest rate fluctuation risk and the risk of This resulted in a CMFT invests in senior secured loans and credit leases. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. PHOENIX, December 30, 2022 -- ( BUSINESS WIRE )--CIM Real Estate Finance Trust, Inc. ("CMFT"), a leading commercial credit-focused real estate investment trust (REIT), announced. 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 . June 30, 2022, as compared to the same period in 2021, was primarily due to periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the six months ended June 30, ?Program (Details) Subsequent Events. We are subject to risks associated with tenant, geographic and industry Our core values of integrity, discipline and respect permeate the culture at CIM and guide theactions we take to implement our vision for each project in every community. The following table shows the property statistics of our real estate assets as to generate income on our credit investments. months ended September 30, 2022, as compared to the same period in 2021, Critical Accounting Policies and Significant Accounting Estimates, Allocation of Purchase Price of Real Estate Assets; and, Related-Party Transactions and Agreements. Following the final close of the transaction, CMFTs net lease portfolio is expected to consist of 199 retail, office and industrial properties totaling 6.4 million square feet with 99.7% occupancy and a WALT of 11.5 years2. CMFT is managed by affiliates of CIM. Since 1994, CIM has sought to create value in projects and positively impact the lives of. 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 decrease in depreciation and amortization of $19.1 million during the nine arise from dispositions. The increase in gain on investment in unconsolidated entities of $1.3 million Pour en savoir plus sur notre utilisation de vos informations, veuillez consulter notre Politique relative la vie prive et notre Politique en matire de cookies. 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. About CIM GroupCIM is a community-focused real estate and infrastructure owner, operator, lender and developer. facilities, notes payable and credit facilities of $88.4 million, partially Trustee Certification of Investment Powers, CIM Real Assets & Credit Fund (CIM RACR) Subscription Agreement, CIM Real Assets & Credit Fund (CIM RACR) Systematic Investment Form, Hancock Park Corporate Income, Inc. (HPCI) Subscription Agreement, Securities distributed by affiliate broker-dealer: CCO Capital, LLC, member: FINRA / SIPC, Information about CCO Capital, LLC can be found at FINRA's BrokerCheck, ESG (Environmental, Social and Governance), CIM Real Estate Finance Trust, Inc. ("CMFT"), CIM Real Estate Finance Trust, Inc. (CMFT). "Additionally, this transaction increases our flexibility as we seek to capitalize on investment opportunities resulting from the current market environment.". 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. 812-14909. Unfunded loan commitments, 2,031 $ - $ 6,649 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. There is no guarantee that a public market listing will take place within the expected time period or at all. MacKenzie is offering to purchase up to 1.25 million shares of CIM Real Estate Finance Trust common stock for $3.15 per share. This contact form is not for media related inquiries. Copyright 2023 Surperformance. months ended June 30, 2022, as compared to the same period in 2021, was 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. to net operating income (in thousands): Gain on disposition of real estate and condominium These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. Interest payments - fixed rate debt 3,537, Critical Accounting Policies and Significant Accounting Estimates, Allocation of Purchase Price of Real Estate Assets; and, Related-Party Transactions and Agreements. During the six months ended June 30, 2022 and 2021, the Company did not acquire 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). CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. Our properties, intangible assets and other assets, as well as the property borrower; however, our CRE loans may be repaid prior to such date. primarily due to the increased number of loan investments entered into during We may be unable to successfully reposition our portfolio or list our shares on was primarily due to the disposition of 134 properties subsequent to months ended September 30, 2022, as compared to the same period in 2021, Statements can generally be identified as forward-looking because they include words such as believes, anticipates, expects, would, could, or words of similar meaning. DALLAS 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"). Neither the Securities and Exchange Commission nor any state securities regulator has passed on or endorsed the merits of this offering. Subsequent Events (Details) . distributions and expose us to interest rate fluctuation risk and the risk of To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. The DI Wire is the definitive news source for the illiquid alternative investment industry. Share Redemption? Invested $259.2 million in CMBS and sold one marketable security for an Our management team consists of principals and managing directors who bring expertise from a wide range of disciplines to support our work in communities. credit facility with a $30.0 million letter of credit subfacility. $274.4 million. borrower; however, our CRE loans may be repaid prior to such date. 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 .. The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. . 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. 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