secwatch.observer — SEC 8-K summary
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Issuer:     CIM REAL ESTATE FINANCE TRUST, INC. (CMRF)
CIK:        0001498547
Form:       8-K
Filed at:   2021-07-21T23:59:59+00:00
Accession:  0001498547-21-000035
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CIM Real Estate Finance Trust secures $650M mortgage loan, pays down $220M existing facility
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- Entered $650M floating-rate first lien mortgage loan from JPMorgan Chase and DBR Investments Co. Limited.
- Loan secured by 113 properties (88.8% leased, 5.9-year WALT); interest at 1M LIBOR + 2.75%.
- Initial term to August 2023 with three 1-year extension options; interest-only, non-recourse.
- Proceeds used to pay down existing debt; terminated $350M CCPT V credit facility with $220M outstanding.
- Guarantor CIM Real Estate Finance Trust must maintain net worth ≥$250M and liquid assets ≥$50M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1498547/000149854721000035/0001498547-21-000035-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1498547/000149854721000035/cmft-20210715.htm
  HTML page:      https://secwatch.observer/filing/0001498547-21-000035

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