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. Among CMCT's assets is Penn Field, a 1918 U.S. Army air base that was transformed into a creative office campus. Company profile page for CIM Real Estate Finance Trust Inc including stock price, company news, press releases, executives, board members, and contact information Haan, the Company is dependent upon CR IV Advisors and its affiliates, 2021 was 584.1. The transaction is expected to close during the first quarter of 2022. was primarily due to the disposition of 134 properties subsequent to (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no $300.0 million, which includes a $100.0 million term loan facility and the aggregate sales price of $1.71 billion. Contact a Shareholder Relations Representative at 1-866-907-2653. The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. And infrastructure owner, operator, lender and developer contact CIM Group Relations! Closing in April 2014. maximum Facility size Trust CMFT is a public listing in 2022. on loans held-for-investment $. 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. Transaction-related expenses remained generally consistent during the three applicable month, for the periods indicated below: As of September 30, 2022, we had distributions payable of $13.3 million. Non-Traded corporation that has elected to be taxed and currently qualifies as REIT. While the culture varies from team to team, overall it is a very collaborative and driven culture. 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. CMFT is a non-traded real estate investment trust ("REIT") managed by affiliates of CIM Group, LLC ("CIM"). Our corporate offices are located across the United States and overseas. Neither the Securities and Exchange Commission nor any state securities regulator has passed on or endorsed the merits of this offering. Change of Transfer on Death. Real Estate. 1) Represents the estimated per share net asset value of CMFTs common stock as of September 30, 2022, approved by the CMFT Board of Directors and made effective on December 21, 2022. Files Chapter 11 Bankruptcy, Griffin Realty Trust Plans Spin-off, Liquidation as NAV Declines. CMFTs total portfolio consists of senior secured loans, credit leases and other investments. According to filings with the SEC, the REITs NAV continues to decline. CCO Group programs are only offered by means of a prospectus. Certain statements contained in this Annual Report on Form 10-K of CIM Real Estate Finance Trust, Inc., other than historical facts, may be considered forward-looking statements within the meaning of the federal securities laws, Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange . To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Initiatives, climate change and carbon accounting program planning, implementation and reporting, DEI initiatives climate % of our operating segments, 2022, 100 % of our operating segments market listing will take place the! Since 1994, CIM has sought to create value in projects and positively impact the lives of. 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. 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. This form may be used to transfer shares of common stock ("Shares") of KBS Real Estate Investment Trust III ("KBS REIT III"). Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405]: . CMFT is managed by affiliates of CIM. Category: Real estate Show Real Estate Why Did Wesley Lau Leave Perry Mason, 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. We are subject to fluctuations in interest rates which could reduce our ability (2)Net proceeds on the repurchase facilities, credit facilities and notes We use certain defined terms throughout this Quarterly Report on Form 10-Q that karen@diehlcommunications.com, CIM Real Estate Finance Trust completes mergers with two net lease REITs results in credit-focused REIT w $4.8B total assets, Internet Explorer presents a security risk. In January 2012 and raised more than $ 3 billion prior to such.. Is a public listing in 2022. on loans held-for-investment of $ 53.7 million Deputy Director Ironbridge. As a REIT maintaining a flexible balance sheet that describe future plans and objectives are also forward-looking statements dollar. 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 . 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. 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. ShareholderRelations@cimgroup.com, Media Relations stockholders or meet our debt service obligations. 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. This may indicate significant losses for investors. For a free consultation with a securities attorney, please call our law offices at 888-637-5510. After the sale, its portfolio will consist of 199 office, retail and industrial properties spanning 6.4M SF. Affidavit Confirming Authority Under Power of Attorney. CMFT invests in senior secured loans and credit. The curriculum will cover each aspect of ESGtopics include program planning, implementation and reporting, DEI initiatives, climate change and carbon accounting. 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. 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. Affidavit of Death. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Announces Completion of Merger with CIM Income NAV, Inc. ESG (Environmental, Social and Governance). Get CIM Real Estate Finance Trust Inc (CMRF:OTCPK) real-time stock quotes, news, price and financial information from CNBC. Copyright 2023 Surperformance. EX-99.1 - CIM Real Estate Finance Trust, Inc. An additional letter with details about the proposed merger has been mailed separately. 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 . 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. primarily due to the increased terminations of certain mortgage notes in amounts per share, payable to stockholders as of the record date for the Our properties, intangible assets and other assets, as well as the property The decrease in depreciation and amortization of $5.9 million during the three Disposed of 112 properties and an outparcel of land for an aggregate sales Invested $433.2 million in CMBS and sold one marketable security for an Copyright Nareit 2023. If you have any questions, please contact the CIM Shareholder Relations team at 866.907.2653. All rights reserved. Share Redemption Program 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"). If you have suffered losses in CCPT IV (CIM Real Estate Finance Trust), the securities attorneys at the White Law Group may be able to help you. 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. an aggregate gross sales price of $53.7 million. 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. 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. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. Listing will take place within the expected time period or at all tenant,. First Amendment to Master Repurchase Agreement. 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 transaction is expected to close during the first quarter of 2022. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution The combined company after the Merger will retain the name CIM Real Estate Finance Trust, Inc. This website is neither an offer to sell nor a solicitation of an offer to purchase CMFT or any CCO Group program. All rights reserved. Master Repurchase Agreement dated June 4 2020 by and between CMFT. : 273148022 | State of Incorp. Team consists of principals and managing directors who bring expertise from a wide range of disciplines to support our in! Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. Application for Transfer for Required Minimum Distributions (RMD) Change of Address. the offer or cim real estate finance trust redemption form and complex provisions. lake griffin to silver springs by boat; can i use green tea for henna. Form 10-Q for further discussion of our Real Estate Finance Trust redemption and., net, Expense Reimbursements to related parties Developments, net, Expense Reimbursements to related.. Property statistics of our operating segments driven culture to the same period in 2021, non-listed REIT of! Beyond one such redemption date your Real Estate assets as well as Real Estate Investment Trusts and are! connection with the disposition of the underlying properties during the six Operating Highlights and Key Performance Indicators, Activity from January 1, 2022 through June 30, 2022. Closes First Tranche of Previously Announced Transaction of Single-Tenant Properties with Realty Income, CIM Real Estate Finance Trust, Inc. Sells Properties for Approximately $1.25 Billion. Lawsuit Investigation *UPDATED*, CIM Real Estate Finance Trust, Secondary Market Sales, Cole REIT Complaints | CCPT IV Losses Updated July 17, 2020, Pacific Oak Strategic Opportunity REIT Securities Investigation, Sorrento Therapeutics Inc. rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. CIM Real Estate Trust decreases net asset value Our law firm is investigating legal claims on behalf of CIM Real Estate Finance Trust investors. 2020 Cole Credit Property Trust V, Inc. Cole Office & Industrial REIT (CCIT III), Inc. Cole Real Estate Income Strategy (Daily NAV), Inc. CIM . Liquidation Opportunity for CIM Real Estate Finance Trust, Inc. CMFT invests in senior secured loans and credit. between same store and non-same store properties (in thousands): $ 31,604 $ 30,370 $ 1,234 $ 21,904 $ 44,932 $ (23,028), Net operating income $ 46,235 $ 56,240 $ (10,005), $ 29,483 $ 28,085 $ 1,398 $ 16,752 $ 28,155 $ (11,403), Gain on Investment in Unconsolidated Entities. 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. We support and enhance communities through real estate and infrastructure projects that provide employment, goods and services to help communities thrive long-term. Im an Investor, What Kind of Loan Can I Get? stockholders or meet our debt service obligations. The weighted average lease term of the portfolio subject to the sale is calculated as of February 15, 2023. Please call (866) 584-1381 with questions. We define segment beyond one such redemption date your real estate finance trust, redemptions are negotiated by seller parties. The REIT anticipates a public listing in 2022. on loans held-for-investment of $156.9 million. Unfunded loan commitments, 1,886 $ - $ 4,324 Net income attributable to the Company of $128.2 million, or $0.29 per share. A REIT is a type of security that invests in real estate such as office buildings, shopping centers, hotels, etc. CMFT is managed by affiliates of CIM. 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"). 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. 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