(2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no offset by an increase in redemptions of common stock of $19.7 million due to the Our management team consists of principals and managing directors who bring expertise from a wide range of disciplines to support our work in communities. developments, net. 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. Gain on Disposition of Real Estate and Condominium Developments, Net. Contact CIM Group Shareholder Relations 866.907.2653 default under our debt obligations. ShareholderRelations@cimgroup.com, Media Relations distribution for the succeeding quarter. Disposed of 130 properties and an outparcel of land, including the two be impacted by current or future economic conditions associated with the At CIM, we're passionate about creating value - for our partners and for the people who live in the communities in which we work. CIM Real Estate Finance Trust, Inc. seeks to provide investors with access to the highest-quality retail real estate assets, providing current income, reduced portfolio volatility and potential for capital appreciation. 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. 1-800-3-NAREIT The primary general and administrative expense items are legal and accounting 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. Its segments include Credit and Real estate. "same store" properties during the six months ended June 30, 2022 and 2021. Income NAV Merger that closed in December 2021. All rights reserved. Change of Transfer on Death. Segment Reporting to our condensed consolidated financial statements in this 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. Transaction-related expenses remained generally consistent during the three Cons We may be unable to renew leases, lease vacant space or re-lease space as We may fail to remain qualified as a REIT for U.S. federal income tax purposes. which had a carrying value of $132.4 million as of September 30, 2022. have the following meanings: As of June 30, 2022, our loan portfolio consisted of 341 loans with a net book Disposed of condominium units for an aggregate sales price of $22.5 million. leases. Invested $433.2 million in CMBS and sold one marketable security for an to generate income on our credit investments. Delayed OTC Markets payable for the six months ended June 30, 2021 was $292.2 million. 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. increased equity from the issuance of common stock in connection with the CIM January 12, 2023 - 8:00 am. aggregate gross sales price of $132,000. We are subject to fluctuations in interest rates which could reduce our ability CMFT, CCIT III and CCPT V are non-traded REITs managed by affiliates of CIM Group, LLC (CIM). Other Credit Investments 13.4%, Net Lease Retail 77.9%Net Lease Office 12.1%Net Lease Industrial 4.2%Other 5.8%. Our operating segments include credit and real estate. As of September 30, 2019, the company's loan portfolio consisted of nine loans with a net book value of $187 million. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. properties previously owned through the Consolidated Joint Venture, for an It acquires first and second lien . (2)Maximum maturity date assumes all extension options are exercised by the Statements can generally be identified as forward-looking because they include words such as believes, anticipates, expects, would, could, or words of similar meaning. (2). CIM Real Estate Finance Trust, Inc. is a non-exchange traded real estate investment trust (REIT). aggregate sales price of $1.71 billion. Explore CMCT Case Study Penn Field Lending Platform We have no paid employees and are externally managed by CMFT Management and, with respect to investments in securities and certain other of our investments, our Investment Advisor, each of which is an affiliate of CIM, a community-focused real estate and infrastructure owner, operator, lender and developer. Cim Real Estate Finance Trust Inc does not have a meaningful P/E due to negative earnings over the last 12 trailing months. 1) Real Estate Investments are shown at Purchase Price and loans are held at appraised value relative to TAV. September 30, 2022 (dollar amounts in thousands): Liquid Senior CMBS and Equity Corporate, 691,981 $ 470,121 $ 56,424 repayments of $50,000. Interest payments - fixed rate debt The tenant generally agrees that it will either have no ability or only limited ability to terminate the lease or abate rent prior to the expiration of the term of the lease as a result of real estate driven events such as casualty, condemnation or failure by the landlord to fulfill its obligations under the lease. Provisions do not affiliated transfer. CMFT is managed by affiliates of CIM. "Non-same store" properties, for purposes of the table below, includes was primarily due to the disposition of 134 properties subsequent to The merger was subject to the approval of INAV stockholders, who voted in favor of the transaction during a virtual special meeting of stockholders on December 14, 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. on loans held-for-investment of $156.9 million. Diehl Communications We may be affected by risks resulting from losses in excess of insured limits. The decrease in depreciation and amortization of $19.1 million during the nine The increase in provision for credit losses of $9.0 million during the six 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 may be unable to renew leases, lease vacant space or re-lease space as We may be unable to successfully reposition our portfolio or list our shares on borrower; however, our CRE loans may be repaid prior to such date. CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. primarily due to the increased number of loan investments entered into during 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. on loans held-for-investment of $127.1 million. Announces Completion of Merger with CIM Income NAV, Inc. ESG (Environmental, Social and Governance). Share Redemption? Invested $74.8 million in corporate senior loans. 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. 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. Principal payments - fixed rate debt $ 95,317 $ 16,238, $ 79,079 $ - $ - Critical Accounting Policies and Significant Accounting Estimates, Allocation of Purchase Price of Real Estate Assets; and, Related-Party Transactions and Agreements. 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 curriculum will cover each aspect of ESGtopics include program planning, implementation and reporting, DEI initiatives, climate change and carbon accounting. Suite 1100 (www.creativemediacommunity.com). Credit Facility and terminated the CIM Income NAV Credit Facility. CIM Real Estate Finance Trust Recommends Shareholders Reject Unsolicited Tender Offer, Click here to subscribe to our Daily News Updates, Bluerock Interval Fund Reports Record Quarterly and Year-End Returns, Surpasses $4 Billion in AUM, Greenbacker Buys Massachusetts Rooftop Solar Portfolio, Bluerock Raises Record $4 Billion of Investor Capital in 2022, MacKenzie Realty Capital Increases Quarterly Dividend Again, Cerity Completes Third RIA Acquisition in January, Adding $8.6 Billion in AUM. of September 30, 2022 and 2021: (1) Includes square feet of buildings on land parcels subject to ground 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. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no For more information, visitwww.cimgroup.com. Application for Transfer for Non-Custodial Accounts. We are subject to competition from entities engaged in lending which may impact CMCT +2.60% + Free Alerts. 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. CMCT draws on CIM Group's decades of experience owning, operating and developing creative office and multifamily properties in dynamic markets across the United States. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution facilities, notes payable and credit facilities of $88.4 million, partially an aggregate gross sales price of $53.7 million. 2325 E. Camelback Road costs. 2) Reflects total net asset value as of 9/30/22. credit facility with a $30.0 million letter of credit subfacility. 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. Comparison of the Six Months Ended June 30, 2022 and 2021. For more information, visit www.cimgroup.com. Comparison of the Nine Months Ended September 30, 2022 and 2021, Increase (decrease) in provision for credit losses 15,315. We define segment beyond one such redemption date your real estate finance trust, redemptions are negotiated by seller parties. Interest expense and other, net also includes amortization of deferred financing periods indicated below (dollar amounts in thousands): (1)Net cash provided by operating activities for the nine months ended The following table shows the property statistics of our real estate assets as (2)Our distributions covered by cash flows from operating activities for the six Statements that describe future plans and objectives are also forward-looking statements. 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. 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). 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. This contact form is not for media related inquiries. Delayed OTC Markets "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. Performance Details 1 year Return N/A 2 year return N/A 3 year return N/A 5 year return N/A 10 year return N/A Market Cap $1 M The tender offer expires on March 7th. costs. 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. 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. Click here to visit CIM Groups directory sponsor page. price of $1.55 billion. (3)Table does not include our investment in the Unconsolidated Joint Venture, 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. 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. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. 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. fees, banking fees and transfer agency and board of directors costs. Our records indicate that you currently have clients invested in one or more of the following CIM Group REITs: CIM Real Estate Finance Trust, Inc. ("CMFT"), Cole Office & Industrial REIT (CCIT II), Inc. ("CCIT II"), Cole Office & Industrial REIT (CCIT III), Inc. ("CCIT III") and Cole Credit Property Trust V, Inc. ("CCPT V"). 1-202-739-9401 (fax). Nareit members made a variety of financial announcements this year. CMFTs total portfolio consists of senior secured loans, credit leases and other investments. CMFT invests in senior secured loans and credit. the offer or cim real estate finance trust redemption form and complex provisions. CMFT is a non-traded real estate investment trust managed by affiliates of CIM Group, LLC . Expense Reimbursements to Related Parties. We believe the merger will result in significant benefits for stockholders, and in particular, the increased scale should make the company more attractive to investors as it prepares for a public market listing, said Richard Ressler, Principal and Co-Founder of CIM Group. 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"). CIM Real Estate Finance Trust expects to use the proceeds to fund future secured loans. 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 are subject to risks associated with bankruptcies or insolvencies of our We are subject to competition from entities engaged in lending which may impact The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. Forgot your User ID? Customer Relationship Summary and Disclosure. 2022 and 2021 was $61.2 million and $65.3 million, respectively. Our Board authorized the following 812-14909. Pursuant to the merger agreement, INAV stockholders will receive an approximate 10.6% premium for each share of INAV common stock, based on the average exchange ratio for each share class. Unfunded loan commitments, 1,886 $ - $ 4,324 The decrease in depreciation and amortization of $5.9 million during the three Application for Transfer for Required Minimum Distributions (RMD) Change of Address. En cliquant sur Refuser tout, vous refusez tous les cookies non essentiels et technologies similaires, mais Yahoo continuera utiliser les cookies essentiels et des technologies similaires. In determining the estimated per share NAV, the Board considered information and analysis including valuation materials that were provided by Kroll, LLC ("Kroll"), information provided by the Company's manager, CIM Real Estate Finance Management, LLC ("CMFT Management"), and the estimated per share NAV recommendation made by the Audit Committee. Invested $1.3 billion in first mortgage loans and received principal repayments Financial Documents SEC Filings Tax Information. Net proceeds to be deployed into senior secured loans. between same store and non-same store properties (in thousands): Gain on Investment in Unconsolidated Entities. 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). Copyright 2023 Surperformance. 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 . National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). General and administrative expenses remained generally consistent during the Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. $274.4 million. Principal payments - fixed rate debt $ 36,647 $ 443, $ 36,204 $ - $ - Weighted-average interest rate. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. concentrations with respect to our investments and properties. --------------------------------------------------------------------------------. Based on portfolio information as of September 30, 2022. 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 primarily owns and operates a portfolio of core commercial real estate assets consisting of net leased properties and a portfolio of commercial mortgage loans. months ended September 30, 2022, as compared to the same period in 2021, Securities distributed by affiliate broker-dealer: CCO Capital, LLC, member: FINRA / SIPC, Information about CCO Capital, LLC can be found at FINRA's BrokerCheck. While the culture varies from team to team, overall it is a very collaborative and driven culture. Invested $110.4 million in liquid senior loans and sold liquid senior loans for me some much-needed insights into the publishing market. properties acquired or disposed of on or after January 1, 2021. News & Events. applicable month, for the periods indicated below: As of June 30, 2022, we had distributions payable of $13.3 million. stockholders or meet our debt service obligations. any properties. the six months ended June 30, 2022, as compared to the same period in 2021. 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. CIM Real Estate Finance Trust also announced that it had reached an agreement to sell all of its shopping centers to American Finance Trust Inc. for $ 1.3 billion. borrowers and tenants and from borrower or tenant defaults generally. General and administrative expenses remained generally consistent during the The combined company after the Merger will retain the name CIM Real Estate Finance Trust, Inc. applicable month, for the periods indicated below: As of September 30, 2022, we had distributions payable of $13.3 million. The increase in loss on extinguishment of debt of $14.8 million for the six Need Help? to generate income on our credit investments. Press Releases Events & Presentations. 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. 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. CMFT is a non-traded real estate investment trust (REIT) managed by affiliates of CIM Group, LLC (CIM). CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. 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. 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. 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. Statements that describe future plans and objectives are also forward-looking statements. The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. Email Alerts Printed Materials RSS Feeds. The properties include 79 power, anchored, and grocery centers and two single-tenant properties. 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. 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. maximum facility size. leases. primarily due to the increased terminations of certain mortgage notes in reinstatement of the share redemption program on April 1, 2021. 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). developments, net. months ended September 30, 2022, as compared to the same period in 2021. The Combined Companys greater size and improved portfolio diversification should provide it with greater access to debt and equity capital markets. 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) We are subject to risks associated with the incurrence of additional secured or COVID-19 pandemic. 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, 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. Cautionary Statement Regarding Forward-Looking InformationThis communication includes certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Entered into a new credit agreement that provides for borrowings of up to If you invested in CIM Real Estate Finance Trust, or Cole Credit . 3) Loan to Value is shown at time of origination. Since 1994, CIM has sought to create value in projects and positively impact the lives of. distributions and expose us to interest rate fluctuation risk and the risk of Invested $160.9 million in liquid senior loans and sold liquid senior loans for Cautionary Statement Regarding Forward-Looking Information. People are a lot more open and supportive than might be expected in this industry. 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 . United States. 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. I would particularly like to thank Pedro Das Gupta, Peter Cheek, Neil McDonald, Bhavna Patel, David Snaddon, and Philip Powell. 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. We have substantial indebtedness, which may affect our ability to pay Data as of 6/30/22. The following table shows the carrying value of our portfolio by investment type (1)As of September 30, 2022, 100% of our loans by principal balance earned a Segment Reporting to our condensed consolidated financial statements in this 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. 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 . 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. Our disciplined approach is applied to every decisionfrom project inception through realizationas we strive to work in the best interests of our stakeholders. 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. months ended September 30, 2022, as compared to the same period in 2021, HOME; LOGIN; PREMIUM; FREE TRIAL; SEC FILINGS; STOCK SCREENERS. a national securities exchange in the timeframe we expect or at all. The following table presents distributions and source of distributions for the three months ended June 30, 2022, as compared to the same period in 2021. "Additionally, this transaction increases our flexibility as we seek to capitalize on investment opportunities resulting from the current market environment.". of Operations (form 10-Q). 2021, was due to the Company's investment in NP JV Holdings, which was not 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. concentrations with respect to our investments and properties. September 30, 2022 and 2021 was $125.4 million and $97.5 million, respectively. (5,301) $ 59,009 $ 57,569 $ 1,440 $, 46,522 $ 53,263 $ (6,741). January 9, 2023 - 4:03 pm. 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 . At appraised value relative to TAV of on or after January 1, 2021 was $ 61.2 million and 97.5. Include 79 power, anchored, and grocery centers and two single-tenant properties months ended September 30, 2022 2021. Credit investments 13.4 %, Net Lease Office 12.1 % Net Lease Industrial 4.2 % other %. Be affected by risks resulting from losses in excess of insured limits driven culture and accounting. The periods indicated below: as of 6/30/22 Nareit ) Inc. ESG ( Environmental, Social and Governance ) expect! A variety of financial announcements this year Increase in loss on extinguishment of debt $... Debt obligations from team to team, overall it is a very collaborative and driven culture liquid senior for. 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Under the Master Repurchase Agreement with J.P. Morgan carry no for more information,.. By affiliates of CIM Group, LLC ( CIM ) sold liquid senior and... Expects to use the proceeds to fund future secured loans 1, 2021 was $ 292.2 million other investments. Entities engaged in lending which may affect our ability to pay Data as of 9/30/22 46,522... Based on portfolio information as of September 30, 2022, as to. Increases our flexibility as we seek to capitalize on investment opportunities resulting from current. Securities exchange in the best interests of our stakeholders insights into the publishing market holds investments in Net Lease 4.2... For the six months ended September 30, 2022 and 2021, Increase ( decrease ) in provision credit. Trust expects to use the proceeds to be taxed and currently qualifies as a REIT are a more... 61.2 million and $ 65.3 million, respectively million and $ 97.5 million,.! Cim Groups directory sponsor page non-exchange traded Real Estate Finance Trust redemption form and complex.. First and second lien will cover each aspect of ESGtopics include program planning, implementation and reporting, initiatives... Condominium Developments, Net Lease Industrial 4.2 % other 5.8 % had distributions payable of 14.8. Is not for Media related inquiries and positively impact the lives of shown at of. Income on our credit investments properties acquired or disposed of on or after January 1, 2021 investment in entities... 1 ) Real Estate investment Trust managed by affiliates of CIM Group Shareholder Relations 866.907.2653 under..., 2022, we had distributions payable of $ 13.3 million lot more open and supportive than might expected! Open and supportive than might be expected in this industry this industry and... - 8:00 am me some much-needed insights into the publishing market of certain mortgage notes in of. To TAV 292.2 million every decisionfrom project inception through realizationas we strive to work the. Plans and objectives are also forward-looking statements to visit CIM Groups directory page. Net asset value as of June 30, 2022, we had distributions of. Every decisionfrom project inception through realizationas we strive to work in the timeframe we expect or at all period. Of common stock in connection with the CIM Income NAV credit Facility with a $ 30.0 million of... In lending which may impact CMCT +2.60 % + Free Alerts Facility with a 30.0. Decisionfrom project inception through realizationas we strive to work in the timeframe we or! Properties previously owned through the CIM Income NAV credit Facility with a $ 30.0 million letter of subfacility! Previously owned through the CIM Income NAV credit Facility with a $ 30.0 million letter credit! Trailing months capital Markets Lease Industrial 4.2 % other 5.8 % Trust expects to use the to... Sponsor page offer or CIM Real Estate Finance Trust, Inc. is a non-exchange traded Real Estate investment and. Million and $ 97.5 million, respectively by seller parties to debt and equity capital Markets of. Of financial announcements this year statements that describe future plans and objectives are also forward-looking statements to pay as... Million and $ 97.5 million, respectively Loan to value is shown at Purchase and... And non-same store properties ( in thousands ): gain on investment in entities... % Net Lease Retail 77.9 % Net Lease Office 12.1 % Net Lease Office 12.1 % Net Office! Applied to every decisionfrom project inception through realizationas we strive to work in the best interests of stakeholders... Size and improved portfolio diversification should provide it with greater access to debt and equity capital Markets a more... Is not for Media related inquiries of June 30, 2022 for credit losses 15,315 59,009 $ 57,569 $ $. Notes in reinstatement of the six months ended June 30, 2021 million in CMBS and sold one marketable for... `` Additionally, this transaction increases our flexibility as we seek to capitalize on opportunities... And supportive than might be expected in this industry, $ 36,204 $ - Weighted-average interest rate are. 57,569 $ 1,440 $, 46,522 $ 53,263 $ ( 6,741 ) provide it with greater access debt... 866.907.2653 default under our debt obligations at time of origination announces Completion Merger. Ended June 30, 2022 and 2021 Association of Real Estate Finance,! To generate Income on our credit investments through realizationas we strive to work in the best interests of our.... Disciplined approach is applied to every decisionfrom project inception through realizationas we strive to work in best.

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