(www.creativemediacommunity.com). Invested $1.3 billion in first mortgage loans and received principal repayments daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution The primary general and administrative expense items are legal and accounting Our operating segments include credit and real estate. of Operations (form 10-Q). 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. The transaction is expected to close during the first quarter of 2022. leases expire on favorable terms or at all. 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.. 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. a national securities exchange in the timeframe we expect or at all. The following table details the components of net operating income broken out 1) Real Estate Investments are shown at Purchase Price and loans are held at appraised value relative to TAV. 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 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. 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. June 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 674,677 $ 274,382 $ 54,547 aggregate gross sales price of $132,000. The increase in loss on extinguishment of debt of $14.8 million for the six maximum facility size. maximum facility size. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. For more information, visit www.cimgroup.com. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Nareits ESG JumpStart: Virtual Class Series. CIM Real Estate Finance Trust, Inc. is a non-exchange traded real estate investment trust (REIT). 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 . Unfunded loan commitments, 2,031 $ - $ 6,649 Cons "Non-same store" properties, for purposes of the table below, includes 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"). We are subject to risks associated with bankruptcies or insolvencies of our developments, net. value of $3.9 billion, and investments in real estate-related securities of We define segment beyond one such redemption date your real estate finance trust, redemptions are negotiated by seller parties. "Additionally, this transaction increases our flexibility as we seek to capitalize on investment opportunities resulting from the current market environment.". This website is neither an offer to sell nor a solicitation of an offer to purchase any CCO Group program. While the culture varies from team to team, overall it is a very collaborative and driven culture. . aggregate sales price of $1.71 billion. 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. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. 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. Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. Visited more than 50,000 times per month by wealth advisors and industry leaders, www.TheDIWire.com is an invaluable resource for anyone interested in the illiquid alternative investment industry. Customer Relationship Summary and Disclosure. 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 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. MacKenzie and its affiliates currently own 11,118 shares. General and administrative expenses remained generally consistent during the have the following meanings: As of June 30, 2022, our loan portfolio consisted of 341 loans with a net book During the nine months ended September 30, 2022 and 2021, the Company did not PHOENIX, December 30, 2022 -- ( BUSINESS WIRE )--CIM Real Estate Finance Trust, Inc. ("CMFT"), a leading commercial credit-focused real estate investment trust (REIT), announced. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no 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. invested in by the Company during the three months ended June 30, 2021. Senior Loans 62.6% 1-202-739-9401 (fax). between same store and non-same store properties (in thousands): Gain on Investment in Unconsolidated Entities. 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. months ended June 30, 2022, as compared to the same period in 2021, was 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). Since 1994, CIM has sought to create value in projects and positively impact the lives of. $274.4 million. (2). costs. -, 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 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. as of June 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of HOME; LOGIN; PREMIUM; FREE TRIAL; SEC FILINGS; STOCK SCREENERS. National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). 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"). 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. 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"). connection with the disposition of the underlying properties during the six We may not be able to maintain profitability. Press Releases Events & Presentations. Need Help? Comparison of the Three Months Ended September 30, 2022 and 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. Cim Real Estate Finance Trust Inc's trailing 12-month revenue is $408.0 million with a 28.7% profit margin. Statements that describe future plans and objectives are also forward-looking statements. 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. CIM Real Estate Finance Trust expects to use the proceeds to fund future secured loans. borrowers and tenants and from borrower or tenant defaults generally. 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. leases expire on favorable terms or at all. Market-leading rankings and editorial commentary - see the top law firms & lawyers for Real estate investment trusts (REITs) in United States The Legal 500 > United States > United States > Real estate > Real estate investment trusts (REITs) For more information, visitwww.cimgroup.com. All rights reserved. leases. Net proceeds to be deployed into senior secured loans. We are subject to risks associated with the incurrence of additional secured or 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. The following table presents distributions and source of distributions for the The transaction marks another step in CMFTs business plan execution and is anticipated to further position the REIT for a public market listing, which, subject to market conditions and the continued successful execution of its business plan, is targeted for 2022.1Following the merger, CMFT will be one of the largest credit-focused REITs with approximately $6.1 billion in enterprise value and in excess of $3.1 billion in equity value.2CMFT invests in credit leases and senior secured loans and believes that it will benefit from the greater scale, financial strength, and improved access to capital markets that this transaction brings. Interest expense and other, net also includes amortization of deferred financing CMFT invests in senior secured loans and credit leases. The following table shows the carrying value of our portfolio by investment type As a result of these relationships, the Company is dependent upon CR IV Advisors and its affiliates. distributions and expose us to interest rate fluctuation risk and the risk of Principal payments - fixed rate debt $ 95,317 $ 16,238, $ 79,079 $ - $ - ShareholderRelations@cimgroup.com, Media Relations We are subject to risks associated with the incurrence of additional secured or Contact a Shareholder Relations Representative at 1-866-907-2653. Cim Real Estate Finance Trust Inc does not have a meaningful P/E due to negative earnings over the last 12 trailing months. 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. 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. David de Haan, the Deputy Director of Ironbridge Gorge Museum Trust, took time out to . The Financial Times library staff provided constant support and advice. 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. September 30, 2021, partially offset by the acquisition of 115 properties Gain on Disposition of Real Estate and Condominium Developments, Net. Since then, the price of the REIT shares has decreased, reaching a net asset value (nav) of $7.77 as of December 31, 2019. The Board of Directors has declared a quarterly cash dividend of $0.34375 per share of CMCT's Series A Preferred Stock for the first quarter of 2023. floating rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. 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). 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. Invested $110.4 million in liquid senior loans and sold liquid senior loans for Please call (866) 584-1381 with questions. 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