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. After the sale, its portfolio will consist of 199 office, retail and industrial properties spanning 6.4M SF. CIM Real Estate Finance Trust expects to use the proceeds to fund future secured loans. 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. CMCT +2.60% + Free Alerts. 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. leases. Increase (Decrease) in Provision for Credit Losses. stockholders or meet our debt service obligations. Quarterly Portfolio Update $7.3B Gross Asset Value 1.49x Debt to Equity Ratio $2.9 Billion Equity $4.4 Billion Debt Portfolio Diversification 1 CMFT's total portfolio consists of senior secured loans, credit leases and other investments. 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. fees, banking fees and transfer agency and board of directors costs. September 30, 2022 and 2021 was $125.4 million and $97.5 million, respectively. Expense Reimbursements to Related Parties. distributions and expose us to interest rate fluctuation risk and the risk of Delayed OTC Markets I would particularly like to thank Pedro Das Gupta, Peter Cheek, Neil McDonald, Bhavna Patel, David Snaddon, and Philip Powell. 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. 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. Shareholders. Nareit members made a variety of financial announcements this year. 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. Interest expense and other, net also includes amortization of deferred financing File No. Entered into a new credit agreement that provides for borrowings of up to 2) Reflects total net asset value as of 9/30/22. Principal payments - fixed rate debt $ 36,647 $ 443, $ 36,204 $ - $ - We may be unable to successfully reposition our portfolio or list our shares on 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. We may be affected by risks resulting from losses in excess of insured limits. Statements can generally be identified as forward-looking because they include words such as believes, anticipates, expects, would, could, or words of similar meaning. arise from dispositions. maximum facility size. 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 increase in loss on extinguishment of debt of $14.8 million for the six 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. 2022 and 2021 was $61.2 million and $65.3 million, respectively. Change of Distribution Election. 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. Application for Transfer for Non-Custodial Accounts. --------------------------------------------------------------------------------. stockholders or meet our debt service obligations. Nareits ESG JumpStart: Virtual Class Series. 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. concentrations with respect to our investments and properties. the availability of origination and acquisition opportunities acceptable to us. PHOENIX, December 16, 2021 -CIM Real Estate Finance Trust, Inc. announced today it has acquired CIM Income NAV, Inc. in a stock-for-stock, tax-free merger transaction pursuant to the definitive agreement executed in September 2021. 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. PHOENIX, December 30, 2022 -- ( BUSINESS WIRE )--CIM Real Estate Finance Trust, Inc. ("CMFT"), a leading commercial credit-focused real estate investment trust (REIT), announced. CMFT invests in senior secured loans and credit. an aggregate gross sales price of $35.6 million. Retail REITs Announce Financial Transactions in 2019. distribution for the succeeding quarter. Declared aggregate distributions of $0.18 per share. price of $1.55 billion. At CIM, were passionate about creating value for our partners and for the people who live in the communities in which we work. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. CMFTs senior loan portfolio totals $4.6 billion2. Cim Real Estate Finance Trust Inc's trailing 12-month revenue is $408.0 million with a 28.7% profit margin. 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. The remaining net lease portfolio is primarily financed with a long-term, fixed rate asset-backed securitization. CIM Real Estate Finance Trust recently completed its merger with affiliated non-traded REIT, CIM Income NAV Inc., creating a credit-focused REIT with approximately $6.1 billion in enterprise value and more than $3.1 billion in equity value. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Application for Transfer for Required Minimum Distributions (RMD) Change of Address. 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. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. We are subject to competition from entities engaged in lending which may impact For more information, visit www.cimgroup.com. (2). CMFT is a non-traded real estate investment trust (REIT) managed by affiliates of CIM Group, LLC (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"). For more information, visit www.cimgroup.com. leases. CCO Group and CIM are not affiliated or associated with, is not endorsed by, does not endorse, and is not sponsored by or a sponsor of the tenants or of their products or services pictured or mentioned on this web site. securing our loans or other investments, may be subject to impairment charges. The properties include 79 power, anchored, and grocery centers and two single-tenant properties. News & Events. 1-800-3-NAREIT Assignor and real estate. We may not generate cash flows sufficient to pay our distributions to The Combined Company will provide several benefits for stockholders and will be well-positioned to navigate the post-COVID economic environment with enhanced financial and operational flexibility and efficiency, making the Combined Company more valuable, said Richard Ressler, Principal and Co-Founder of CIM Group. Our operating segments include credit and real estate. The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. The decrease in depreciation and amortization of $5.9 million during the three The merger transactions are anticipated to better position the Combined Company for a potential future liquidity event, including a public market listing. About CIM Real Estate Finance TrustCMFT is a public non-traded corporation that has elected to be taxed and currently qualifies as a REIT. repayments of $50,000. ?Program (Details) Subsequent Events. 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 .. 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. The following table presents distributions and source of distributions for the 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. borrower; however, our CRE loans may be repaid prior to such date. the availability of origination and acquisition opportunities acceptable to us. (2)Facilities under the Master Repurchase Agreement with J.P. Morgan carry no We use certain defined terms throughout this Quarterly Report on Form 10-Q that Statements that describe future plans and objectives are also forward-looking statements. Announces Completion of Merger with CIM Income NAV, Inc. ESG (Environmental, Social and Governance). ESG (Environmental, Social and Governance). 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"). Copyright 2023 Surperformance. CMFT is managed by affiliates of CIM. Its segments include Credit and Real estate. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Carter Validus CIM Income NAV CIM Real Estate Finance Trust CNL. En cliquant sur Accepter tout, vous acceptez que Yahoo et nos partenaires traitent vos informations personnelles et utilisent des technologies telles que les cookies pour afficher des publicits et des contenus personnaliss, et des fins de mesure des publicits et des contenus, dtude des audiences et de dveloppement de produit. United States. We may be unable to renew leases, lease vacant space or re-lease space as And raised more than $ 3 billion prior to such date Inc & x27. The succeeding quarter financial Transactions in 2019. distribution for the people who in... 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