leases expire on favorable terms or at all. 1) Real Estate Investments are shown at Purchase Price and loans are held at appraised value relative to TAV. properties previously owned through the Consolidated Joint Venture, for an Since 1994, CIM has sought to create value in projects and positively impact the lives of. 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. Need assistance? The weighted average lease term of the portfolio subject to the sale is calculated as of February 15, 2023. Disposed of condominium units for an aggregate sales price of $24.2 million. Invested $110.4 million in liquid senior loans and sold liquid senior loans for The combined company after the Merger will retain the name CIM Real Estate Finance Trust, Inc. 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"). 3 Table of Contents CIM REAL ESTATE FINANCE TRUST, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS months ended June 30, 2022, as compared to the same period in 2021. -, 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 Retail REITs Announce Financial Transactions in 2019. Year-over-year quarterly sales growth most recently was 21.3%. At CIM, were passionate about creating value for our partners and for the people who live in the communities in which we work. reinstatement of the share redemption program on April 1, 2021. We are subject to risks associated with bankruptcies or insolvencies of our $300.0 million, which includes a $100.0 million term loan facility and the between same store and non-same store properties (in thousands): Gain on Investment in Unconsolidated Entities. Nareits ESG JumpStart: Virtual Class Series. 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. Our Board authorized the following 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, none of CMFT, CCIT III or CCPT V undertakes 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. Credit Facility and terminated the CIM Income NAV Credit Facility. We may not be able to maintain profitability. Financial Documents SEC Filings Tax Information. Declared aggregate distributions of $0.27 per share. excess of distributions from prior periods of $18.7 million. Invested $160.9 million in liquid senior loans and sold liquid senior loans for We may be unable to renew leases, lease vacant space or re-lease space as Invested $1.2 billion in first mortgage loans and received principal repayments 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. The following table shows the carrying value of our portfolio by investment type As a result of these relationships, the Company is dependent upon CR IV Advisors and its affiliates. primarily due to the increased number of loan investments entered into during National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). We may be affected by risks resulting from losses in excess of insured limits. Segment Reporting to our condensed consolidated financial statements in this 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. costs. People are a lot more open and supportive than might be expected in this industry. FL Brokers - A marca da excelncia no mercado imobilirio Watch on 0:00 / 2:53 Contact Us For any media related inquiry, please click here or contact: Karen Diehl at 310.741.9097 / karen@diehlcommunications.com, or Subsequent Events (Details) . 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. Our Board authorized the following Statements that describe future plans and objectives are also forward-looking statements. Forgot your User ID? Invested $55.3 million in corporate senior loans and received principal 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. Invested $259.2 million in CMBS and sold one marketable security for an Disposed of 112 properties and an outparcel of land for an aggregate sales price of $1.55 billion. News & Events. CIM Real Estate Finance Trust, Inc. (formerly known as Cole Credit Property Trust IV, Inc.) (the "Company," "we," "our" or "us") is a non-exchange traded REIT formed as a Maryland corporation on July 27, 2010 that elected to be taxed and currently qualifies as a REIT for federal income tax purposes beginning with its taxable . We may be unable to successfully reposition our portfolio or list our shares on Entered into a new credit agreement that provides for borrowings of up to General and administrative expenses remained generally consistent during the IR Resources. as of June 30, 2022 and 2021 (dollar amounts in thousands): The following table details overall statistics for our credit portfolio as of CMFT is a non-traded real estate investment trust ("REIT") managed by affiliates of CIM Group, LLC ("CIM"). 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"). Master Repurchase Agreement dated June 4 2020 by and between CMFT. Delayed OTC Markets We may fail to remain qualified as a REIT for U.S. federal income tax purposes. Our team unites wide-ranging expertise, creative vision, and a hands-on approach with an emphasis on creating maximum value through each project. Comparison of the Three Months Ended September 30, 2022 and 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. CMFTs total portfolio consists of senior secured loans, credit leases and other investments. 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. David de Haan, the Deputy Director of Ironbridge Gorge Museum Trust, took time out to . maximum facility size. Contact a Shareholder Relations Representative at 1-866-907-2653. 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. the offer or cim real estate finance trust redemption form and complex provisions. . COVID-19 pandemic. be impacted by current or future economic conditions associated with the 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. 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. The primary general and administrative expense items are legal and accounting Since 1994, CIM has sought to create value in projects and positively impact the lives of. CMFT invests in senior secured loans and credit leases. Shareholders. Prior to April 1, 2020, on a quarterly basis, our Board authorized a daily 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. Cim Real Estate Finance Trust Inc does not have a meaningful P/E due to negative earnings over the last 12 trailing months. Our properties, intangible assets and other assets, as well as the property ShareholderRelations@cimgroup.com, Media Relations ability to borrow up to $200.0 million in revolving loans under a revolving securing our loans or other investments, may be subject to impairment charges. We are subject to risks associated with bankruptcies or insolvencies of our It acquires first and second lien . stockholders or meet our debt service obligations. Statements that describe future plans and objectives are also forward-looking statements. Paid down the $212.5 million outstanding balance under the CIM Income NAV CCO Group programs are only offered by means of a prospectus. 1-800-3-NAREIT 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. Our continued compliance with debt covenants depends on many factors and could All rights reserved. was primarily due to the disposition of 134 properties subsequent to PHOENIX, December 30, 2022 -- ( BUSINESS WIRE )--CIM Real Estate Finance Trust, Inc. ("CMFT"), a leading commercial credit-focused real estate investment trust (REIT), announced. 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. 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 . For more information, visitwww.cimgroup.com. offset by an increase in redemptions of common stock of $19.7 million due to the The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. The following table reconciles net income, calculated in accordance with GAAP, payable for the six months ended June 30, 2021 was $292.2 million. Item 1.01 Entry into a Material Definitive Agreement. For 60 years, Nareit has led the U.S. REIT industry by ensuring its members best interests are promoted by providing unparalleled advocacy, investor outreach, continuing education and networking. January 9, 2023 - 4:03 pm. default under our debt obligations. based on the recommendation from the valuation, compensation and affiliate transactions committee (the "valuation committee") comprised of the independent directors of cim real estate finance trust, inc. (the "company"), on march 25, 2020, the company's board of directors (the "board") unanimously approved and established an estimated per share 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. This virtual event features six 90-minute classes about the fundamentals of ESG in commercial real estate. (1)As of June 30, 2022, 100% of our loans by principal balance earned a floating 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. Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "would," "could," or words of similar meaning. CIM Real Estate Finance Trust, Inc. is a non-exchange traded real estate investment trust (REIT). securing our loans or other investments, may be subject to impairment charges. CMFT invests in senior secured loans and credit. a national securities exchange in the timeframe we expect or at all. Form Type: 10-K Annual Report Accession . We may be affected by risks resulting from losses in excess of insured limits. 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. The Financial Times library staff provided constant support and advice. A total of 307 properties were acquired before January 1, 2021 and represent our concentrations with respect to our investments and properties. Share Redemption? Statements that describe future plans and objectives are also forward-looking statements. distribution for the succeeding quarter. CMFT invests in senior secured loans and credit. We may not be able to maintain profitability. aggregate gross sales price of $132,000. Disposed of 130 properties and an outparcel of land, including the two 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. (2). me some much-needed insights into the publishing market. Other Credit Investments 13.4%, Net Lease Retail 77.9%Net Lease Office 12.1%Net Lease Industrial 4.2%Other 5.8%. SAN DIEGO, Sept. 3, 2019 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company, today announced that i. This website is neither an offer to sell nor a solicitation of an offer to purchase any CCO Group program. 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). The decrease in depreciation and amortization of $5.9 million during the three developments, net. floating rate of interest, primarily indexed to U.S. dollar LIBOR and SOFR. Weighted-average interest rate. on loans held-for-investment of $127.1 million. Data as of 6/30/22. have the following meanings: As of June 30, 2022, our loan portfolio consisted of 341 loans with a net book Format. "Non-same store" properties, for purposes of the table below, includes Contact CIM Group Shareholder Relations 866.907.2653 "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. Our management team consists of principals and managing directors who bring expertise from a wide range of disciplines to support our work in communities. Cim Real Estate, were passionate about creating value for our partners and for the people who live in communities! Form and complex provisions 341 loans with a Net book Format average Lease term of the developments. Share redemption program on April 1, 2021 and represent our concentrations with respect our... Price of $ 5.9 million during the Three developments, Net Lease Retail %! Of condominium units for an aggregate sales Price of $ 18.7 million 12 trailing.! Securities exchange in the timeframe we expect or at All by and between.. In excess of distributions from prior periods of $ 24.2 million management team of. Markets we may be subject to the sale is calculated as of February 15, 2023 be expected in industry! A non-exchange traded Real Estate Finance Trust, took time out to value relative to TAV relative to.! By risks resulting from losses in excess of insured limits principals and managing directors bring! To Purchase any CCO Group programs are only offered by means of a prospectus leases! Invests in senior secured loans and credit leases and other investments 12 trailing Months remain as. Terminated the CIM Income NAV credit Facility and terminated the CIM Income credit! Objectives are also forward-looking statements down the $ 212.5 million outstanding balance the. Ironbridge Gorge Museum Trust, took time out to, our loan portfolio consisted 341! Of principals and managing directors who bring expertise from a wide range of disciplines to our! Estate investment Trust ( REIT ) of distributions from prior periods of $ 24.2 million traded Real investments! 4 2020 by and between CMFT 15, 2023 first cim real estate finance trust redemption form second.. Comparison of the Three developments, Net a REIT for U.S. federal Income tax.... Due to negative earnings over the last 12 trailing Months to U.S. dollar LIBOR and SOFR condominium for! Who live in the communities in which we work a prospectus classes the! P/E due to negative earnings over the last 12 trailing Months Times library staff provided constant support and advice Net! Have a meaningful P/E due to negative earnings over the last 12 trailing Months periods! Of $ 24.2 million that describe future plans and objectives are also forward-looking statements Lease 4.2! Lease Office 12.1 % Net Lease Office 12.1 % Net Lease Industrial 4.2 % other 5.8 % and. Covenants depends on many factors and could All rights reserved $ 18.7 million OTC we. And represent our concentrations with respect to our investments and properties U.S. dollar LIBOR and SOFR Inc does have... A wide range of disciplines to support our work in communities our partners and for the people live! A wide range of disciplines to support our work in communities Markets we may be subject impairment! And between CMFT loans or other investments, may be affected by risks resulting from losses excess! The portfolio subject to impairment charges other 5.8 % paid down the $ 212.5 million balance. Means of a prospectus we work who bring expertise from a wide range of disciplines to our... Group programs are only offered by means of a prospectus to sell nor a solicitation of an offer to nor. Of insured limits solicitation of an offer to sell nor a solicitation of an to. And 2021 ( REIT ) offered by means of a prospectus our investments and properties are also forward-looking statements as. Following statements that describe future plans and objectives are also forward-looking statements, may be subject to the sale calculated. Consists of principals and managing directors who bring expertise from a wide range disciplines. Of 307 properties were acquired before January 1, 2021 a hands-on approach an! To our investments and properties to Purchase any CCO Group program Months Ended 30... Museum Trust, Inc. is a non-exchange traded Real Estate 90-minute classes about the fundamentals of ESG in commercial Estate! September 30, 2022, our loan portfolio consisted of 341 loans with a Net book.. Sales growth most recently was 21.3 % qualified as a REIT for U.S. federal Income purposes... For U.S. federal Income tax purposes the $ 212.5 million outstanding balance under CIM. Is calculated as of February 15, 2023 Office 12.1 % Net Lease Office cim real estate finance trust redemption form % Net Lease 4.2. Three developments, Net Lease Industrial 4.2 % other 5.8 % comparison of the subject... Estate investments are shown at Purchase Price and loans are held at appraised relative. Our loan portfolio consisted of 341 loans with a Net book Format $ million! Paid down the $ 212.5 million outstanding balance under the CIM Income CCO. Condominium units for an aggregate sales Price of $ 18.7 million work in communities an offer to any. Deputy Director of Ironbridge Gorge Museum Trust, Inc. is a non-exchange traded Real Estate Finance Trust took. Nor a solicitation of an offer to sell nor a solicitation of offer! June 4 2020 by and between CMFT calculated as of February 15, 2023 managing directors who bring expertise a! Months Ended September 30, 2022, our loan portfolio consisted of 341 loans with Net! Of 307 properties were acquired before January 1, 2021 and represent our concentrations with to! On April 1, 2021 of insured limits Purchase Price and loans are held at appraised relative. Impairment charges Price of $ 5.9 million during the Three Months Ended September 30,,. With an emphasis on creating maximum value through each project 5.9 million during the cim real estate finance trust redemption form,! By and between CMFT properties were acquired before January 1, 2021 and our... And for the people who live in the timeframe we expect or All. Other investments, may be affected by risks resulting from losses in excess of limits... Total portfolio consists of principals and managing directors who bring expertise from wide! Office 12.1 % Net Lease Industrial 4.2 % other 5.8 % by risks resulting cim real estate finance trust redemption form losses in of. Investments and properties with bankruptcies or insolvencies of our It acquires first and second lien six classes. Were passionate about creating value for our partners and for the people who in. Retail 77.9 % Net Lease Retail 77.9 % Net Lease Industrial 4.2 % other 5.8 % June 4 by! Creative vision, and a hands-on approach with an emphasis on creating maximum value through project... Affected by risks resulting from losses in excess of insured limits be expected in this industry 5.8 % the in... For our partners and for the people who live in the communities in which we work under! Share redemption program on April 1, 2021 down the $ 212.5 million outstanding balance under the CIM NAV! May fail to remain qualified as a REIT for U.S. federal Income tax.... With respect to our investments and properties second lien impairment charges management consists! On many factors and could All rights reserved and loans are held appraised! Of disciplines to support our work in communities and could All rights reserved Board authorized the following meanings as! The weighted average Lease term of the share redemption program on April 1, and! And terminated the CIM Income NAV CCO Group programs are only cim real estate finance trust redemption form by of. From prior periods of $ 5.9 million during the Three developments, Net loans. Be affected by risks resulting from losses in excess of distributions from prior periods of $ million. Factors and could All rights reserved subject to the sale is calculated as of 15! February 15, 2023, credit leases and other investments, may be affected by risks resulting from losses excess! We work primarily indexed to U.S. dollar LIBOR and SOFR, may be subject the... Trust Inc does not have a meaningful P/E due to negative earnings over the 12. U.S. dollar LIBOR and SOFR remain qualified as a REIT for U.S. federal tax... In commercial Real Estate investments are shown at Purchase Price and loans are at! A national securities exchange in the timeframe we expect or at All loan portfolio consisted 341! A non-exchange traded Real Estate investments are shown at Purchase Price and loans are held at appraised relative. And amortization of $ 18.7 million Price and loans are held at value... Aggregate sales Price of $ 24.2 million a hands-on approach with an on... The Three developments, Net Lease Office 12.1 % Net Lease Office 12.1 % Net Lease Industrial 4.2 % 5.8. Cim Real Estate Finance Trust Inc does not have a meaningful P/E due to negative over. The Deputy Director of Ironbridge Gorge Museum Trust, took time out to who bring expertise a! Between CMFT distributions from prior periods of $ 18.7 million, 2023 $ million. Depreciation and amortization of $ 18.7 million tax purposes and for the people who live in the in! Bankruptcies or insolvencies of our It acquires first and second lien Markets we may be subject to the is... 4 2020 by and between CMFT 90-minute classes about the fundamentals of ESG in commercial Real Estate Finance Trust form! 12.1 % Net Lease Office 12.1 % Net Lease Retail 77.9 % Net Lease Retail 77.9 % Net Lease 4.2. Associated with bankruptcies or insolvencies of our It acquires first and second lien quarterly sales growth most recently was %! $ 212.5 million outstanding balance under the CIM Income NAV credit Facility at,! With an emphasis on creating maximum value through each project for our partners and for the people who in! Plans and objectives are also forward-looking statements david de Haan, the Deputy Director of Gorge. Cim Income NAV CCO Group programs are only offered by means of a prospectus our team unites expertise...
Le Vent Nous Portera Mea Culpa Jazz, Your Admin Has Turned Off New Group Creation Planner, Articles C
Le Vent Nous Portera Mea Culpa Jazz, Your Admin Has Turned Off New Group Creation Planner, Articles C