D
CIM Real Estate Finance Trust, Inc. CMRF
$3.50 $0.5016.67%
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Corporate Info
Phone Number
602 778 8700
Address
2398 East Camelback Road, 4th Floor
Phoenix, AZ 85016-9078
Country
United States
Year Founded
2010
Details
Sector
Real Estate
Industry
Equity Real Estate Investment Trusts (REITs)
Employees
Business Decription
CIM Real Estate Finance Trust, Inc. (the “Company”) is a non-exchange traded real estate investment trust (“REIT”) formed as a Maryland corporation on July 27, 2010, that elected to be taxed, and operates its business to qualify, as a REIT for U.S. federal income tax purposes beginning with its taxable year ended December 31, 2012. The Company seeks to attain attractive risk-adjusted returns and create long term value for its investors by investing in a diversified portfolio of senior secured mortgage loans, creditworthy long-term net-leased property investments and other senior loan and liquid credit investments. As of March 31, 2024, the Company’s loan portfolio consisted of 254 loans with a net book value of $4.1 billion, and investments in real estate-related securities and other of $513.5 million. The Company expects to conduct its commercial real estate lending business through CIM Commercial Lending REIT (“CLR”), a Maryland statutory trust and subsidiary of the Company which the Company expects to be taxed as a REIT for U.S. federal income tax purposes. As of March 31, 2024, CLR holds a diversified portfolio of approximately $1.6 billion of the Company’s senior secured mortgage loans and commercial mortgage-backed securities. As of March 31, 2024, the Company owned 192 properties, comprising approximately 6.2 million rentable square feet of commercial space located in 37 states. As of March 31, 2024, the rentable square feet at these properties was 99.9% leased, including month-to-month agreements, if any. As of March 31, 2024, the Company owned condominium developments with a net book value of $80.1 million. The Company is externally managed by CIM Real Estate Finance Management, LLC, a Delaware limited liability company (“CMFT Management”), which is an affiliate of CIM Group, LLC (“CIM Group”).

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