CIM Real Estate Finance Trust, Inc. reported its financial results for the third quarter and nine months ended September 30, 2025, revealing a net income of $30.3 million, or $0.07 per share, compared to a net income of $7.3 million, or $0.02 per share, for the same period in 2024. Total revenues for the third quarter were $104.5 million, a decrease from $121.4 million year-over-year, primarily due to a significant drop in interest income, which fell to $77.0 million from $98.4 million. For the nine months ended September 30, 2025, total revenues were $318.1 million, down from $377.7 million in the prior year.
The company experienced notable changes in its financial position compared to the previous fiscal period. Total assets decreased to $4.98 billion from $5.20 billion at the end of 2024, driven by a reduction in loans held-for-investment, which fell to $3.20 billion from $3.37 billion. CIM's cash and cash equivalents increased to $255.6 million from $181.3 million, reflecting improved liquidity. The company also reported a decrease in total liabilities to $3.06 billion from $3.26 billion, largely due to reduced borrowings.
Strategically, CIM Real Estate Finance Trust engaged in several operational developments, including the acquisition of 14 commercial properties for $28.7 million and the disposition of five properties and 15 condominium units for a total of $175.2 million. The company took control of two office buildings through deeds-in-lieu of foreclosure, valued at $151 million. As of September 30, 2025, the company owned 198 properties across 37 states, with a 96.9% occupancy rate.
The filing also highlighted the company's ongoing efforts to manage credit risk, particularly in light of macroeconomic challenges such as inflation and rising interest rates. CIM reported a current expected credit loss reserve of $320.6 million, reflecting the company's proactive approach to potential defaults. The company anticipates that its diversified portfolio and strategic management will help mitigate risks associated with economic fluctuations.
Looking ahead, CIM Real Estate Finance Trust expressed optimism about its ability to navigate the current market environment, emphasizing its focus on maintaining liquidity and managing its debt obligations. The company plans to continue pursuing opportunities for growth while ensuring compliance with its financial covenants. The management remains committed to enhancing shareholder value through strategic investments and effective asset management.
About CIM REAL ESTATE FINANCE TRUST, INC.
CIM Real Estate Finance Trust, Inc. is a non-exchange traded REIT focused on originating, acquiring, financing, and managing senior secured commercial real estate loans and income-producing retail, industrial, and office properties. Its portfolio includes floating rate mortgage loans and long-term net-leased single-tenant properties across the U.S. The company aims to deliver stable income and risk-adjusted returns through diversified credit and real estate investments managed by affiliated professionals.
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