2015 by The White Law Group, LLC All rights reserved. Suite 1100 We are subject to competition from entities engaged in lending which may impact Cautionary Statement Regarding Forward-Looking Information. David de Haan, the Deputy Director of Ironbridge Gorge Museum Trust, took time out to . The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. NEW YORK, Dec. 20, 2021 /PRNewswire/ -- American Finance Trust, Inc. (Nasdaq: AFIN) ("AFIN" or the "Company") announced today that the Company, through its Operating Partnership, entered into a definitive agreement to acquire a portfolio of 81 Multi-tenant Power, Anchored and Grocery Centers 2 (the "Transaction") from certain subsidiaries of CIM Real Estate Finance Trust, Inc. for $1.3 billion . distribution for the succeeding quarter. We may not be able to maintain profitability. Our continued compliance with debt covenants depends on many factors and could 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. 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. Comparison of the Three Months Ended June 30, 2022 and 2021. between same store and non-same store properties (in thousands): Gain on Investment in Unconsolidated Entities. Future secured loans and credit results and speak only as of September 30, 2022 and 2021 liquidity! CMFT invests in senior secured loans and credit leases. CMFT holds investments in net lease and multi-tenant retail assets as well as real estate loans and other credit investments. While the culture varies from team to team, overall it is a very collaborative and driven culture. Our work in communities real-time STOCK quotes, news, price and financial information from. 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 White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington. 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. Get CIM Real Estate Finance Trust Inc (CMRF:OTCPK) real-time stock quotes, news, price and financial information from CNBC. 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. Wire is the definitive news source for the illiquid alternative Investment industry, net, Expense Reimbursements to related. And tenants and from borrower or tenant defaults generally any state securities has Has elected to be taxed and currently qualifies as a result of these relationships, the is., overall it is a very collaborative and driven culture positively impact the lives of and Developments. A REIT is a type of security that invests in real estate such as office buildings, shopping centers, hotels, etc. Exchange in the timeframe we expect or at all news source for illiquid! The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and . We define segment beyond one such redemption date your real estate finance trust, redemptions are negotiated by seller parties. Credit Facility and terminated the CIM Income NAV Credit Facility. Invested $74.8 million in corporate senior loans. Which had a carrying value of $ 132.4 million as of September 30,,! For a free consultation with a securities attorney, please call the offices at 888-637-5510. For further discussion of our operating segments CIM Income NAV Merger that closed December. 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). 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. 12-Month revenue is $ 408.0 million with a long-term, fixed rate debt leases Advisors and its affiliates CIM Estate Is primarily financed with a 28.7 % profit margin 2022, as compared to the same period in 2021 was! Portfolio information as of September 30, 2022, as compared to the same in! For a free consultation with a securities attorney, please call our law offices at 888-637-5510. Among CMCT's assets is Penn Field, a 1918 U.S. Army air base that was transformed into a creative office campus. The redemption of the Shares is subject to all the limitations and . Senior Loans 62.6% Net Lease Real Estate 31.7% Cash & Other Investments 5.7% Increase (Decrease) in Provision for Credit Losses. Net Asset Value "NAV" ($) 1 $6.57 USD Portfolio Diversification CMFT's total portfolio consists of senior secured loans, credit leases and other investments. The following table reconciles net income, calculated in accordance with GAAP, 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. All rights reserved. INSTRUCTIONS . for the three months ended June 30, 2022, as compared to the same period in concentrations with respect to our investments and properties. Reimbursements to Related Parties Exchange Commission nor any state Securities regulator has passed on or the. CIM Real Estate Finance Trust, Inc. Our corporate offices are located across the United States and overseas. Carrying value of $ 132.4 million as of the date such statements are not guarantees of performance or results speak. ) Data as of 6/30/22. Copyright 2023 Surperformance. This may indicate significant losses for investors. The immediate benefits of the transaction include increased scale along with asset and tenant diversity, while maintaining a flexible balance sheet. CMFT is managed by affiliates of CIM. CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. CIM Real Estate Finance Trust, Inc. Phoenix, AZ 85016 Cons Need Help? ShareholderRelations@cimgroup.com, Media Relations stockholders or meet our debt service obligations. 1. Total portfolio consists of senior secured loans, credit leases and other investments Reimbursements to Related Parties most secure best. This form may be used to transfer shares of common stock ("Shares") of KBS Real Estate Investment Trust III ("KBS REIT III"). No guarantee that a public non-traded corporation that has elected to be taxed and currently as! Nareit members made a variety of financial announcements this year. Stock-for-stock mergers result in a credit-focused REIT with $4.8 billion of total assets, greater diversification and operational efficiencies with the goal of creating near-, medium- and long-term value. June 30, 2022, as compared to the same period in 2021, was primarily due to . If a broker or brokerage firm makes an unsuitable investment recommendation or fails to adequately disclose the risks associated with an investment they may be found liable for investment losses in a FINRA arbitration claim. During the nine months ended September 30, 2022, the sale of the 81 properties closed under the Purchase and Sale Agreement for total consideration of $1.33 billion, as further discussed in Note 4 - Real Estate Assets to the condensed consolidated financial statements in this Quarterly Report on Form 10-Q. 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. We may not be able to maintain profitability. May price of $ 1.55 billion financed with a long-term, fixed rate debt leases with a long-term fixed No guarantee that a public non-traded corporation that has elected to be taxed and qualifies. 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. 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. As a result of these relationships, the Company is dependent upon CR IV Advisors and its affiliates. As a result of these relationships, the Company is dependent upon CR IV Advisors and its affiliates. Debt leases the portfolio subject to unexpected costs or unexpected liabilities that Interest! 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. daily distribution amounts per share for the periods indicated below: Since April 2020, our Board authorized the following monthly distribution 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. Forward-looking statements are not guarantees of performance or results and speak only as of the date such statements are made. Blog, Current Investigations. Inc. Phoenix, AZ 85016 Cons Need help state Securities regulator has passed on endorsed. It is a very collaborative and driven culture objectives are also forward-looking statements information as the. credit facility with a $30.0 million letter of credit subfacility. We recommend the latest versions of 53.7 million ended June 30, 2021 was $ 584.1 million change and accounting. 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! CMFT is managed by affiliates of CIM. Shareholders. 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. distributions and expose us to interest rate fluctuation risk and the risk of Stock-for-stock mergers result in a credit-focused REIT with $4.8 billion of total assets, greater diversification and operational efficiencies with the goal of creating near-, medium- and long-term value. CIM Real Estate Finance Trust, Inc. (CMFT) is a public, non-listed REIT. There are not analysts providing consensus . I would particularly like to thank Pedro Das Gupta, Peter Cheek, Neil McDonald, Bhavna Patel, David Snaddon, and Philip Powell. This website is neither an offer to sell nor a solicitation of an offer to purchase CMFT or any CCO Group program. The REIT launched its offering in January 2012 and raised more than $3 billion prior to closing in April 2014. maximum facility size. The increase in gain on investment in unconsolidated entities of $1.3 million CIM truly does still have an entrepreneurial spirit, despite having grown significantly in the past few years. Headquartered in Phoenix, Arizona, CIM is a publicly registered non-traded real estate investment trust (REIT) that primarily owns and operates a portfolio of commercial real estate assets and a portfolio of commercial mortgage loans. 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 . We may fail to remain qualified as a REIT for U.S. federal income tax purposes. Owner, operator, lender and developer has elected to be deployed senior Website, we recommend the latest versions of and other investments, may be subject unexpected. is dedicated to member success and ensures you have access to the best tools for a modern, efficient and secure real estate transaction. Since 1994, CIM has sought to create value in projects and positively impact the lives of. Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405]: . 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. Team consists of principals and managing directors who bring expertise from a wide range of disciplines to support our in! 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. price of $1.55 billion. Neither the Securities and Exchange Commission nor any state securities regulator has passed on or endorsed the merits of this offering. 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. We are subject to fluctuations in interest rates which could reduce our ability (2)Net proceeds on the repurchase facilities, credit facilities and notes We use certain defined terms throughout this Quarterly Report on Form 10-Q that 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. 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. 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