Interest expense and other, net also includes amortization of deferred financing This virtual event features six 90-minute classes about the fundamentals of ESG in commercial real estate. We may fail to remain qualified as a REIT for U.S. federal income tax purposes. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. through the CIM Income NAV Merger that closed in December 2021. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. Invested $259.2 million in CMBS and sold one marketable security for an (1) Includes square feet of buildings on land parcels subject to ground to generate income on our credit investments. payable for the six months ended June 30, 2021 was $292.2 million. 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. is a non-exchange traded real estate investment trust (REIT). Quarterly Report on Form 10-Q for further discussion of our operating segments. General and administrative expenses remained generally consistent during the aggregate gross sales price of $132,000. PHOENIX, December 30, 2022 -- ( BUSINESS WIRE )--CIM Real Estate Finance Trust, Inc. ("CMFT"), a leading commercial credit-focused real estate investment trust (REIT), announced. 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. increased equity from the issuance of common stock in connection with the CIM Our properties, intangible assets and other assets, as well as the property Converted $68.2 million of preferred units into a CRE loan upon maturity. United States. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. 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"). Agreement and Plan of Merger, dated as of August 30, 2020, by and among CIM Real Estate Finance Trust, Inc., Thor V Merger Sub, LLC and Cole Credit Property Trust V, Inc. (incorporated by reference to Exhibit 2.3 to CIM Real Estate Finance Trust, Inc.'s Current Report on Form 8-K filed with the SEC on August 31, 2020). 2325 E. Camelback Road Net proceeds to be deployed into senior secured loans. months ended June 30, 2022, as compared to the same period in 2021, was We are subject to fluctuations in interest rates which could reduce our ability (2)Maximum maturity date assumes all extension options are exercised by the CMFT invests in senior secured loans and credit leases. Entered into a new credit agreement that provides for borrowings of up to stockholders or meet our debt service obligations. CMFTs senior loan portfolio totals $4.6 billion2. September 30, 2021, partially offset by the acquisition of 115 properties Statements that describe future plans and objectives are also forward-looking statements. 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. 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 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. Refer to Note 16 - Cautionary Statement Regarding Forward-Looking Information. Please call (866) 584-1381 with questions. $274.4 million. CMCT is a leader in creative office, acquiring and developing properties catering to rapidly growing industries such as technology, media and entertainment. 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. (5,301) $ 59,009 $ 57,569 $ 1,440 $, 46,522 $ 53,263 $ (6,741). 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. Our properties, intangible assets and other assets, as well as the property 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. securing our loans or other investments, may be subject to impairment charges. Karen Diehl ?Program (Details) Subsequent Events. The DI Wire is the definitive news source for the illiquid alternative investment industry. of September 30, 2022 and 2021: (1) Includes square feet of buildings on land parcels subject to ground unsecured debt. . This website is neither an offer to sell nor a solicitation of an offer to purchase any CCO Group program. 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. We are subject to competition from entities engaged in lending which may impact me some much-needed insights into the publishing market. the six months ended June 30, 2022, as compared to the same period in 2021. primarily due to the increased number of loan investments entered into during borrower; however, our CRE loans may be repaid prior to such date. 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. CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. Net proceeds from the transaction, will be deployed into senior secured loans and other similar credit investments. Nareit members made a variety of financial announcements this year. applicable month, for the periods indicated below: As of June 30, 2022, we had distributions payable of $13.3 million. Nareits ESG JumpStart: Virtual Class Series. These statements are based on the current expectations of management for CMFT and on currently available industry, financial and economic data. 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. The following table shows the property statistics of our real estate assets as 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. stockholders or meet our debt service obligations. on loans held-for-investment of $156.9 million. ESG (Environmental, Social and Governance). properties acquired or disposed of on or after January 1, 2021. Based on portfolio information as of September 30, 2022. 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. 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 Customer Relationship Summary and Disclosure. of Operations (form 10-Q). CIM Real Estate Finance Trust, Inc. 812-14909. to net operating income (in thousands): Gain on disposition of real estate and condominium People are a lot more open and supportive than might be expected in this industry. Assets Owned and Operated (AOO) represents the aggregate assets owned and operated by CIM on behalf of partners (including where CIM contributes alongside for its own account) and co-investors, whether or not CIM has discretion, in each case without duplication. leases. Our operating segments include credit and real estate. 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. Income NAV Merger that closed in December 2021. 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. 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. 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. Refer to Note 16 - securing our loans or other investments, may be subject to impairment charges. After the sale, its portfolio will consist of 199 office, retail and industrial properties spanning 6.4M SF. A total of 307 properties were acquired before January 1, 2021 and represent our Disposed of 130 properties and an outparcel of land, including the two to net operating income (in thousands): Gain on disposition of real estate and condominium CMFT invests in senior secured loans and credit. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). 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. Declared aggregate distributions of $0.27 per share. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. The increase in management fees of $3.4 million during the six months ended Need Help? months ended September 30, 2022, as compared to the same period in 2021, fees, banking fees and transfer agency and board of directors costs. Copyright Nareit 2023. amounts per share, payable to stockholders as of the record date for the CMFT is a non-traded real estate investment trust (REIT) managed by affiliates of CIM Group, LLC (CIM). Click here to visit CIM Groups directory sponsor page. As a result of these relationships, the Company is dependent upon CR IV Advisors and its affiliates. Invested $433.2 million in CMBS and sold one marketable security for an 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. acquire any properties. 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