Cim Real Estate Finance Trust, Inc. (OTC: CMRF)

CIM Real Estate Finance Trust, Inc. is a non exchange traded real estate investment trust that focuses on originating, acquiring, financing and managing short duration senior secured loans, other related credit investments and core commercial real estate properties. The company seeks to generate attractive risk adjusted returns for its shareholders through a diversified portfolio of credit assets and net leased real estate holdings. As of December 31, 2025, its credit portfolio comprised 78 loans with a net book value of $3.5 billion and investments in real estate related securities and other assets of $169.2 million, while its real estate holdings consisted of 202 properties totaling approximately 6.7 million rentable square feet that were 96.5% leased.

The company earns revenue primarily from interest income on its loan portfolio, rental income from its owned properties and returns on its investments in real estate related securities and corporate credit. Interest income from its loan portfolio and rental income from its owned properties constitute the primary sources of earnings, supplemented by returns on its securities and corporate credit investments. These revenue streams are supported by its externally managed platform that sources and services investments across the credit and real estate sectors.

The company operates through the following segments: Credit and Real estate.

• Credit: engages primarily in acquiring and originating primarily floating rate first and second lien mortgage loans either directly or through co investments in joint ventures related to real estate assets. This segment also includes investments in real estate related securities, liquid corporate senior loans and corporate senior loans.

• Real estate: engages primarily in acquiring and managing geographically diversified income producing retail, industrial and office properties that are primarily single tenant properties which are leased to creditworthy tenants under long term net leases across 37 states.

Within the competitive landscape of commercial finance and real estate investment, CIM Real Estate Finance Trust, Inc. positions itself as a specialized lender and property owner that leverages the expertise of its sponsor CIM Group to source short duration senior loans and net leased assets. The company benefits from a disciplined underwriting process and a focus on creditworthy tenants, which helps differentiate it from broader based REITs and traditional banks. Its externally managed structure allows it to access the deal sourcing and underwriting capabilities of CIM Group, which operates across multiple real estate and infrastructure sectors, while its investment guidelines limit leverage and loan to value exposure to preserve its REIT status. This focus on short duration credit and net leased real estate aims to reduce sensitivity to interest rate fluctuations and provide stable cash flows for distribution to shareholders.

The credit segment serves real estate owners and developers seeking mortgage financing. The real estate segment leases properties to single tenant tenants such as national retail chains, drug stores, convenience stores and various industrial and office users. The company does not disclose specific tenant names but its portfolio includes properties occupied by creditworthy enterprises across multiple industries.