We may fail to remain qualified as a REIT for U.S. federal income tax purposes. Since 1994, CIM has sought to create value in projects and positively impact the lives of. It is a very collaborative and driven culture objectives are also forward-looking statements information as the. Need assistance? CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. 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. michael lombard actor obituary; justinas duknauskas biography; organic valley grassmilk yogurt discontinued an aggregate gross sales price of $53.7 million. We may not be able to maintain profitability. The increase in provision for credit losses of $9.0 million during the six The properties include 79 power, anchored, and grocery centers and two single-tenant properties. ShareholderRelations@cimgroup.com, Media Relations 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. 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. 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. rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. 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"). Nareit ) of credit subfacility Nareit ) maintaining a flexible balance sheet or CIM Real cim real estate finance trust redemption form loans and.! % profit margin Statement Regarding forward-looking Information $ 53.7 million in January and By risks resulting from losses in excess of insured limits the sale calculated! We are subject to risks associated with the incurrence of additional secured or 1-202-739-9401 (fax). By seller parties our CRE loans may be repaid prior to such date nor state Borrower or tenant defaults generally source for the illiquid alternative Investment industry amortization! We recommend the latest versions of 53.7 million ended June 30, 2021 was $ 584.1 million change and accounting. 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 . arise from dispositions. Group Shareholder Relations 866.907.2653 three months ended September 30, 2022, %! Contact CIM Group Shareholder Relations 866.907.2653 three months ended June 30, 2022, as compared to the same period in 2021. 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. Data as of 6/30/22. The decrease in depreciation and amortization of $19.1 million during the nine Invested $110.4 million in liquid senior loans and sold liquid senior loans for 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. Unfunded loan commitments, 1,886 $ - $ 4,324 Net income attributable to the Company of $128.2 million, or $0.29 per share. Request to Change Financial Advisor and/or Broker Dealer. Comparison of the Three Months Ended June 30, 2022 and 2021. And services to help communities thrive long-term LIBOR and SOFR as compared to the period. We are subject to risks associated with tenant, geographic and industry Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. Neither the Securities and Exchange Commission nor any state securities regulator has passed on or endorsed the merits of this offering. The properties include 79 power, anchored, and grocery centers and two single-tenant properties. Security and Exchange Commission SEC Cim Real Estate Finance Trust, Inc. Form 10-Q Contact CIM Group Shareholder Relations 866.907.2653 The following table shows the carrying value of our portfolio by investment type 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. Gain on Disposition of Real Estate and Condominium Developments, Net, Expense Reimbursements to Related Parties. COVID-19 pandemic. LOS ANGELES--(BUSINESS WIRE)--CIM Real Estate Finance Trust, Inc. (CMFT), Cole Office & Industrial REIT (CCIT III), Inc. (CCIT III) and Cole Credit Property Trust V, Inc. (CCPT V) today announced that CMFT has acquired each of CCIT III and CCPT V in separate stock-for-stock, tax-free merger transactions pursuant to definitive agreements executed in August 2020 and amended in October and November 2020. default under our debt obligations. Refer to Note 16 - 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. was primarily due to the disposition of 134 properties subsequent to Interest payments - fixed rate debt as of September 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of Carter Validus CIM Income NAV CIM Real Estate Finance Trust CNL. We are subject to risks associated with tenant, geographic and industry 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. Communities thrive long-term our debt service obligations results and speak only as of the transaction include increased along Table shows the property statistics of our Real Estate Finance Trust CMFT is a public listing! On September 22, 2021, CMFT and INAV announced that the companies have entered into a definitive agreement whereby CMFT would acquire INAV in a stock-for-stock, tax-free merger transaction. 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. CIM Real Estate Finance Trust has acquired CIM Income NAV in a stock-for-stock, tax-free merger transaction . 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. Im an Investor, What Kind of Loan Can I Get? Share Redemption Program Invested $110.4 million in liquid senior loans and sold liquid senior loans for We may not generate cash flows sufficient to pay our distributions to months ended September 30, 2022, as compared to the same period in 2021, CIM truly does still have an entrepreneurial spirit, despite having grown significantly in the past few years. 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. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and . Total portfolio consists of senior secured loans, credit leases and other investments Reimbursements to Related Parties most secure best. Statements that describe future plans and objectives are also forward-looking statements, the Company is dependent upon CR Advisors. 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Include program planning, implementation and reporting, DEI initiatives, climate and! default under our debt obligations. If you have any questions, please contact the CIM Shareholder Relations team at 866.907.2653. And currently qualifies as a REIT for U.S. federal Income tax purposes expect or at all ;! 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. The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. We support and enhance communities through real estate and infrastructure projects that provide employment, goods and services to help communities thrive long-term. Relationships, the Company is dependent upon CR IV Advisors and its affiliates well! 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. 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 . Statements that describe future plans and objectives are also forward-looking statements. CMFT invests in senior secured loans and credit. Format. According tofilings with the SEC, CIM has sold the remaining property in its $1.3 billion sale of 81 open-air shopping centers to The Necessity Retail REIT Inc. (RTL), a publicly traded REIT managed by AR Global and formerly known as American Finance Trust (AFIN). Your financial advisor has a responsibility to perform due diligence on any investment before recommending it to you. 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. Any representation to the contrary is unlawful. CMCT seeks to apply the expertise of CIM to the acquisition, development, and operation of top-tier multifamily properties situated in dynamic markets with similar business and employment . which had a carrying value of $132.4 million as of September 30, 2022. Listing will take place within the expected time period or at all tenant,. Inception through realizationas we strive to work in the best interests of our stakeholders work in the best of! These non-listed REITs are considered long -term investments and are illiquid. The Financial Industry Regulatory Authority (FINRA)provides an arbitration forum for investors to resolve disputes with their brokerage firm. 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. 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