Business Description

Our Company CIM Real Estate Finance Trust, Inc. (together with our subsidiaries unless the context requires otherwise, the “Company,” “we,” “our” or “us”) is a non-exchange traded REIT formed as a Maryland corporation on July 27, 2010. We are primarily focused on originating, acquiring, financing and managing shorter duration senior secured loans, other related credit investments and core commercial real estate. We have two reportable business segments as of December 31, 2025 and we refer to the investments within these segments as our target assets: • 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. As of December 31, 2025, our credit portfolio consisted of 78 loans with a net book value of $3.5 billion, and investments in real estate-related securities and other of $169.2 million. W e conduct and expect to continue to conduct our commercial real estate lending business through our subsidiary CIM Commercial Lending REIT (“CLR”), a Maryland statutory trust, which we expect to be taxed as a REIT for U.S. federal income tax purposes. As of December 31, 2025 , CLR holds a diversified portfolio of approximately $1.6 billion, which includes first mortgage loans with a net book value of $1.4 billion, CMBS with an estimated fair value of $64.2 million, and an investment in the Unconsolidated Joint Venture (as defined in Note 2 — Summary of Significant Accounting Policies — Investment in Unconsolidated Entities to the consolidated financial statements in this Annual Report on Form 10-K) with a carrying value of $138.7 million. In addition, as of December 31, 2025, we owned 202 commercial real estate properties, comprising approximately 6.7 million rentable square feet of commercial space located in 37 states. As of December 31, 2025, the rentable space at these properties was 96.5% leased, including month-to-month agreements, if any. As of December 31, 2025, we also owned condominium developments with a net book value of $12.0 million. We have elected to be taxed and conduct