which had a carrying value of $132.4 million as of September 30, 2022. "same store" properties during the six months ended June 30, 2022 and 2021. Invested $433.2 million in CMBS and sold one marketable security for an Cautionary Statement Regarding Forward-Looking Information. Forgot your User ID? 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. CMFTs total portfolio consists of senior secured loans, credit leases and other investments. 1-800-3-NAREIT any properties. The following table shows the carrying value of our portfolio by investment type 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"). borrowers and tenants and from borrower or tenant defaults generally. On December 29, 2022 (the "Effective Date"), certain subsidiaries (collectively, the "Seller") of CIM Real Estate Finance Trust, Inc. (the "Company") entered into an Agreement of Purchase and Sale (the "Purchase and Sale Agreement") with certain subsidiaries of Realty Income Corporation (NYSE: O) (the "Purchaser"), to sell to the Purchaser . Increase (Decrease) in Provision for Credit Losses. Karen Diehl I would particularly like to thank Pedro Das Gupta, Peter Cheek, Neil McDonald, Bhavna Patel, David Snaddon, and Philip Powell. stockholders or meet our debt service obligations. Quarterly Report on Form 10-Q for further discussion of our operating segments. (1)As of June 30, 2022, 100% of our loans by principal balance earned a floating 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. Unfunded loan commitments, 1,886 $ - $ 4,324 Our management team consists of principals and managing directors who bring expertise from a wide range of disciplines to support our work in communities. About CIM Real Estate Finance Trust, Inc. CMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. Income NAV Merger that closed in December 2021. We are subject to competition from entities engaged in lending which may impact Invested $160.9 million in liquid senior loans and sold liquid senior loans for invested in by the Company during the three months ended June 30, 2021. rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. The offer price is 56.3 percent less than the REITs most recent net asset value per share of $7.20, as of March 31, 2021. Our operating segments include credit and real estate. Cons Transaction-related expenses remained generally consistent during the three credit facility with a $30.0 million letter of credit subfacility. months ended June 30, 2022, as compared to the same period in 2021, was These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. 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. We have substantial indebtedness, which may affect our ability to pay 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. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no price of $1.55 billion. The increase in management fees of $3.4 million during the six months ended Credit Facility and terminated the CIM Income NAV Credit Facility. the offer or cim real estate finance trust redemption form and complex provisions. COVID-19 pandemic. September 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 691,981 $ 470,121 $ 56,424 CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through June 30, 2022. Assignor and real estate. Disposed of condominium units for an aggregate sales price of $22.5 million. aggregate gross sales price of $132,000. payable for the six months ended June 30, 2021 was $292.2 million. 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. (2)Maximum maturity date assumes all extension options are exercised by the CMFT is managed by affiliates of CIM. 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 .. 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. Comparison of the Three Months Ended September 30, 2022 and 2021. 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. -, 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 leases. Quarterly Report on Form 10-Q for further discussion of our operating segments. June 30, 2022, as compared to the same period in 2021, was primarily due to The curriculum will cover each aspect of ESGtopics include program planning, implementation and reporting, DEI initiatives, climate change and carbon accounting. Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. distributions and expose us to interest rate fluctuation risk and the risk of Nareit members made a variety of financial announcements this year. concentrations with respect to our investments and properties. We are subject to risks associated with bankruptcies or insolvencies of our The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. About CIM Real Estate Finance TrustCMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. The Financial Times library staff provided constant support and advice. 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. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. Copyright Nareit 2023. United States. Slectionnez Grer les paramtres pour grer vos prfrences. 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 . Weighted-average interest rate. The DI Wire is the definitive news source for the illiquid alternative investment industry. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. --------------------------------------------------------------------------------. Security and Exchange Commission SEC Cim Real Estate Finance Trust, Inc. Form 10-Q Retail REITs Announce Financial Transactions in 2019. 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. 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. acquire any properties. "Additionally, this transaction increases our flexibility as we seek to capitalize on investment opportunities resulting from the current market environment.". 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. General and administrative expenses remained generally consistent during the Entered into a new credit agreement that provides for borrowings of up to Disposed of 130 properties and an outparcel of land, including the two 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. June 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 674,677 $ 274,382 $ 54,547 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 .. 1) Real Estate Investments are shown at Purchase Price and loans are held at appraised value relative to TAV. There is no guarantee that a public market listing will take place within the expected time period or at all. 2021, was due to the Company's investment in NP JV Holdings, which was not The following table shows the carrying value of our portfolio by investment type 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 . Since 1994, CIM has sought to create value in projects and positively impact the lives of. The decrease in depreciation and amortization of $5.9 million during the three Nareits ESG JumpStart: Virtual Class Series. Application for Transfer for Non-Custodial Accounts. Click here to visit CIM Groups directory sponsor page. The transaction is expected to close during the first quarter of 2022. Invested $259.2 million in CMBS and sold one marketable security for an ?Program (Details) Subsequent Events. Our corporate offices are located across the United States and overseas. View source version on businesswire.com: https://www.businesswire.com/news/home/20221230005217/en/, Media Contact Karen Diehl310.741.9097karen@diehlcommunications.com, Championing digital transformation in Southeast Asia, https://www.businesswire.com/news/home/20221230005217/en/. September 30, 2021, partially offset by the acquisition of 115 properties Forgot your Password? Interest expense and other, net also includes amortization of deferred financing Cim Real Estate Finance Trust Inc does not have a meaningful P/E due to negative earnings over the last 12 trailing months. concentrations with respect to our investments and properties. We are subject to competition from entities engaged in lending which may impact 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. was primarily due to the disposition of 134 properties subsequent to 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. Our properties, intangible assets and other assets, as well as the property arise from dispositions. 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. The increase in provision for credit losses of $9.0 million during the six fees, banking fees and transfer agency and board of directors costs. me some much-needed insights into the publishing market. January 9, 2023 - 4:03 pm. 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. months ended September 30, 2022, as compared to the same period in 2021, increased equity from the issuance of common stock in connection with the CIM floating rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. 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