2018 Q4 Form 10-Q Financial Statement

#000162828018014260 Filed on November 13, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $50.03M $47.61M $55.38M
YoY Change -5.16% -14.04% -13.91%
Cost Of Revenue $26.81M $26.53M $32.95M
YoY Change -15.67% -19.48% -18.08%
Gross Profit $23.22M $21.08M $22.43M
YoY Change 12.55% -6.02% -6.97%
Gross Profit Margin 46.42% 44.28% 40.5%
Selling, General & Admin $3.250M $1.220M $1.580M
YoY Change 306.25% -22.78% -30.7%
% of Gross Profit 14.0% 5.79% 7.04%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $13.45M $13.31M $13.47M
YoY Change 4.26% -1.19% -23.98%
% of Gross Profit 57.92% 63.14% 60.05%
Operating Expenses $16.69M $14.53M $15.06M
YoY Change 21.82% -3.52% -24.7%
Operating Profit $6.530M -$414.0K $27.90M
YoY Change -5.77% -101.48% 578.81%
Interest Expense -$6.490M $6.965M $9.359M
YoY Change 11.13% -25.58% -8.92%
% of Operating Profit -99.39% 33.55%
Other Income/Expense, Net
YoY Change
Pretax Income -$770.0K -$414.0K $72.73M
YoY Change -103.46% -100.57% 730.16%
Income Tax $130.0K $115.0K $339.0K
% Of Pretax Income 0.47%
Net Earnings -$906.0K -$528.0K $72.40M
YoY Change -104.11% -100.73% 696.6%
Net Earnings / Revenue -1.81% -1.11% 130.71%
Basic Earnings Per Share -$0.30 $1.25
Diluted Earnings Per Share -$62.33K -$0.30 $1.25
COMMON SHARES
Basic Shares Outstanding 43.80M shares 14.60M shares 57.88M shares
Diluted Shares Outstanding 14.60M shares 14.60M shares 57.88M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.90M $97.00M $253.0M
YoY Change -57.54% -61.66% 89.09%
Cash & Equivalents $54.66M $97.04M $253.0M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $6.600M $8.100M $15.90M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $61.50M $105.1M $268.9M
YoY Change -56.96% -60.91% 86.22%
LONG-TERM ASSETS
Property, Plant & Equipment $1.041B $1.067B $941.2M
YoY Change 8.69% 13.37% -41.74%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $128.9M $107.9M $286.3M
YoY Change 15.3% -62.31% 52.04%
Total Long-Term Assets $1.281B $1.287B $1.322B
YoY Change 7.32% -2.71% -30.82%
TOTAL ASSETS
Total Short-Term Assets $61.50M $105.1M $268.9M
Total Long-Term Assets $1.281B $1.287B $1.322B
Total Assets $1.342B $1.392B $1.591B
YoY Change 0.45% -12.54% -22.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $41.60M $30.90M $23.70M
YoY Change 57.58% 30.38% -43.71%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $52.60M $41.70M $32.40M
YoY Change 49.43% 28.7% -37.45%
LONG-TERM LIABILITIES
Long-Term Debt $588.7M $664.4M $780.0M
YoY Change -6.69% -14.82% -19.52%
Other Long-Term Liabilities $48.20M $19.00M $54.00M
YoY Change 207.01% -64.81% -5.1%
Total Long-Term Liabilities $636.9M $683.4M $834.0M
YoY Change -1.5% -18.06% -18.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $52.60M $41.70M $32.40M
Total Long-Term Liabilities $636.9M $683.4M $834.0M
Total Liabilities $689.4M $725.1M $866.4M
YoY Change 1.12% -16.31% -19.62%
SHAREHOLDERS EQUITY
Retained Earnings -$436.9M -$415.6M -$367.2M
YoY Change 9.43% 13.17% -36.6%
Common Stock $44.00K $44.00K $58.00K
YoY Change 0.0% -24.14% -30.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $616.4M $622.6M $711.0M
YoY Change
Total Liabilities & Shareholders Equity $1.342B $1.392B $1.591B
YoY Change 0.45% -12.54% -22.6%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income -$906.0K -$528.0K $72.40M
YoY Change -104.11% -100.73% 696.6%
Depreciation, Depletion And Amortization $13.45M $13.31M $13.47M
YoY Change 4.26% -1.19% -23.98%
Cash From Operating Activities $10.90M $12.89M -$3.350M
YoY Change -159.96% -484.78% -110.51%
INVESTING ACTIVITIES
Capital Expenditures -$1.910M -$2.090M -$9.160M
YoY Change -91.18% -77.18% 2.58%
Acquisitions
YoY Change
Other Investing Activities -$2.920M -$4.060M $204.5M
YoY Change -101.79% -101.98% 161.24%
Cash From Investing Activities -$4.840M -$6.140M $195.4M
YoY Change -103.41% -103.14% 181.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -45.88M -2.170M -69.42M
YoY Change -81.45% -96.87% 231.99%
NET CHANGE
Cash From Operating Activities 10.90M 12.89M -3.350M
Cash From Investing Activities -4.840M -6.140M 195.4M
Cash From Financing Activities -45.88M -2.170M -69.42M
Net Change In Cash -39.82M 4.580M 122.6M
YoY Change -67.78% -96.26% 52.63%
FREE CASH FLOW
Cash From Operating Activities $10.90M $12.89M -$3.350M
Capital Expenditures -$1.910M -$2.090M -$9.160M
Free Cash Flow $12.81M $14.98M $5.810M
YoY Change 269.16% 157.83% -85.76%

Facts In Submission

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CY2018Q3 us-gaap Common Stock Shares Authorized
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CY2017Q4 us-gaap Common Stock Shares Issued
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CY2018Q3 us-gaap Common Stock Shares Issued
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CY2018Q3 us-gaap Common Stock Shares Outstanding
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CY2018Q3 us-gaap Common Stock Value
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CY2017Q3 us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Cost Of Goods And Services Sold Depreciation
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us-gaap Comprehensive Income Net Of Tax
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CY2017Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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CY2018Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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3449000 USD
CY2017Q3 us-gaap Cost Of Goods And Services Sold Depreciation
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CY2018Q3 us-gaap Cost Of Goods And Services Sold Depreciation
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10901000 USD
us-gaap Cost Of Goods And Services Sold Depreciation
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32487000 USD
CY2017Q3 us-gaap Costs And Expenses
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57369000 USD
us-gaap Costs And Expenses
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203473000 USD
CY2018Q3 us-gaap Costs And Expenses
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48054000 USD
us-gaap Costs And Expenses
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144760000 USD
CY2017Q4 us-gaap Debt And Capital Lease Obligations
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CY2018Q3 us-gaap Debt And Capital Lease Obligations
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us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
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0 USD
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
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993000 USD
CY2018Q3 us-gaap Deferred Costs And Other Assets
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CY2017Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
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23807000 USD
CY2018Q3 us-gaap Deferred Costs Leasing Accumulated Amortization
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23537000 USD
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CY2018Q3 us-gaap Deferred Costs Leasing Gross
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49539000 USD
CY2017Q4 us-gaap Deferred Finance Costs Gross
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3843000 USD
CY2018Q3 us-gaap Deferred Finance Costs Gross
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4914000 USD
CY2017Q4 us-gaap Deferred Offering Costs
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3401000 USD
CY2018Q3 us-gaap Deferred Offering Costs
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4219000 USD
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52619000 USD
CY2018Q3 us-gaap Deferred Rent Receivables Net
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55060000 USD
CY2017Q3 us-gaap Depreciation And Amortization
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13472000 USD
us-gaap Depreciation And Amortization
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45464000 USD
CY2018Q3 us-gaap Depreciation And Amortization
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13310000 USD
us-gaap Depreciation And Amortization
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39783000 USD
CY2017Q4 us-gaap Development In Process
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CY2018Q3 us-gaap Development In Process
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us-gaap Dividends Common Stock
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us-gaap Dividends Common Stock
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us-gaap Dividends Preferred Stock Cash
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1924000 USD
CY2017Q4 us-gaap Due To Related Parties Current And Noncurrent
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CY2018Q3 us-gaap Due To Related Parties Current And Noncurrent
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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CY2017Q4 us-gaap Financing Receivable Allowance For Credit Losses
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CY2018Q3 us-gaap Financing Receivable Allowance For Credit Losses
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532000 USD
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3363000 USD
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3215000 USD
CY2017Q3 us-gaap Gains Losses On Sales Of Investment Real Estate
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74715000 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
378732000 USD
CY2018Q3 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
0 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
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0 USD
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1342000 USD
us-gaap General And Administrative Expense
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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358891000 USD
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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2837000 USD
CY2017Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
339000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1193000 USD
CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
115000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
795000 USD
us-gaap Income Taxes Paid
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1090000 USD
us-gaap Income Taxes Paid
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622000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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1205000 USD
us-gaap General And Administrative Expense
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6496000 USD
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0 USD
us-gaap Impairment Of Real Estate
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13100000 USD
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0 USD
us-gaap Impairment Of Real Estate
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0 USD
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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72730000 USD
us-gaap Increase Decrease In Deferred Leasing Fees
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5979000 USD
us-gaap Increase Decrease In Deferred Leasing Fees
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1922000 USD
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665000 USD
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1820000 USD
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1046000 USD
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us-gaap Interest Expense
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us-gaap Interest Paid Net
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20240000 USD
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0 USD
CY2018Q3 us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
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320000 USD
us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
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320000 USD
CY2017Q4 us-gaap Investment Building And Building Improvements
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CY2018Q3 us-gaap Investment Building And Building Improvements
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CY2017Q4 us-gaap Land
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CY2018Q3 us-gaap Land
Land
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CY2018Q3 us-gaap Land Improvements
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18501000 USD
CY2017Q4 us-gaap Liabilities
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CY2018Q3 us-gaap Liabilities
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CY2017Q4 us-gaap Liabilities And Stockholders Equity
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CY2018Q3 us-gaap Liabilities And Stockholders Equity
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1391715000 USD
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CY2018Q3 us-gaap Long Term Debt
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CY2017Q4 us-gaap Minority Interest
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CY2018Q3 us-gaap Minority Interest
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us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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37000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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67000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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49801000 USD
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us-gaap Net Income Loss
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CY2018Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
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10000 USD
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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15000 USD
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us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
357447000 USD
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2018Q3 us-gaap Notes Receivable Net
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81898000 USD
us-gaap Number Of Businesses Acquired
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0 property
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27899000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
102483000 USD
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
25332000 USD
us-gaap Operating Income Loss
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CY2018Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
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CY2018Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
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CY2018Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
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us-gaap Preferred Stock Redemption Discount
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us-gaap Proceeds From Collection Of Loans Held For Sale
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CY2018Q3 us-gaap Operating Leases Future Minimum Payments Receivable Remainder Of Fiscal Year
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CY2018Q3 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
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CY2017Q4 us-gaap Other Assets
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CY2018Q3 us-gaap Other Assets
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us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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1445000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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1727000 USD
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121000 USD
CY2018Q3 us-gaap Other Deferred Costs Gross
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1056000 USD
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6381000 USD
CY2018Q3 us-gaap Other Intangible Assets Net
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10684000 USD
CY2017Q4 us-gaap Other Liabilities
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us-gaap Other Operating Activities Cash Flow Statement
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us-gaap Other Operating Activities Cash Flow Statement
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us-gaap Payments For Origination And Purchases Of Loans Held For Sale
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us-gaap Payments For Origination And Purchases Of Loans Held For Sale
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39990000 USD
us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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0 USD
us-gaap Payments For Repurchase Of Redeemable Preferred Stock
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0 USD
us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
75000 USD
us-gaap Payments Of Capital Distribution
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4872000 USD
us-gaap Payments Of Capital Distribution
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1575000 USD
us-gaap Payments Of Debt Issuance Costs
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8000 USD
us-gaap Payments Of Debt Issuance Costs
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0 USD
us-gaap Payments Of Dividends Minority Interest
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37000 USD
us-gaap Payments Of Dividends Minority Interest
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67000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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112000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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1404000 USD
us-gaap Payments Of Loan Costs
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304000 USD
us-gaap Payments Of Loan Costs
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1112000 USD
us-gaap Payments Of Ordinary Dividends
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32854000 USD
us-gaap Payments Of Ordinary Dividends
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16421000 USD
us-gaap Payments Of Stock Issuance Costs
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us-gaap Payments Of Stock Issuance Costs
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1124000 USD
us-gaap Payments To Acquire Loans Held For Investment
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12383000 USD
us-gaap Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
13330000 USD
us-gaap Payments To Develop Real Estate Assets
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19075000 USD
us-gaap Payments To Develop Real Estate Assets
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10139000 USD
us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
1.03125
us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
1.03125
CY2017Q3 us-gaap Preferred Stock Redemption Discount
PreferredStockRedemptionDiscount
0 USD
us-gaap Preferred Stock Redemption Discount
PreferredStockRedemptionDiscount
0 USD
CY2018Q3 us-gaap Preferred Stock Redemption Discount
PreferredStockRedemptionDiscount
1000 USD
us-gaap Proceeds From Collection Of Loans Held For Sale
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1642000 USD
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
11594000 USD
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
26984000 USD
us-gaap Proceeds From Issuance Of Secured Debt
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0 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
772000 USD
us-gaap Proceeds From Issuance Of Warrants
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55000 USD
us-gaap Proceeds From Issuance Of Warrants
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62000 USD
us-gaap Proceeds From Notes Payable
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0 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
38200000 USD
us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
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7686000 USD
us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
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8501000 USD
us-gaap Proceeds From Sale Of Loans Held For Sale
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36701000 USD
us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
41408000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
851629000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
0 USD
CY2017Q3 us-gaap Profit Loss
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72391000 USD
us-gaap Profit Loss
ProfitLoss
357698000 USD
CY2018Q3 us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
2042000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
411000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
222000 USD
CY2017Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
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271055000 USD
CY2018Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
301320000 USD
CY2017Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1228780000 USD
CY2018Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1368291000 USD
CY2017Q4 us-gaap Real Estate Investment Property Net
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957725000 USD
CY2018Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1066971000 USD
us-gaap Reclassifications Of Temporary To Permanent Equity
ReclassificationsOfTemporaryToPermanentEquity
0 USD
us-gaap Reclassifications Of Temporary To Permanent Equity
ReclassificationsOfTemporaryToPermanentEquity
11517000 USD
us-gaap Repayments Of First Mortgage Bond
RepaymentsOfFirstMortgageBond
65722000 USD
us-gaap Repayments Of First Mortgage Bond
RepaymentsOfFirstMortgageBond
0 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
3239000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
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us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
1642000 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
65000000 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
0 USD
CY2017Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
25375000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
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CY2018Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
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CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2017Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7749000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
27331000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7715000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
27564000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
26000 USD
CY2017Q3 us-gaap Revenues
Revenues
55384000 USD
us-gaap Revenues
Revenues
183632000 USD
CY2018Q3 us-gaap Revenues
Revenues
47640000 USD
us-gaap Revenues
Revenues
147597000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
116000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
124000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
116000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
124000 USD
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
7000 USD
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
576000000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
625815000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
622600000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
966589000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
711899000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2017Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
27924000 USD
CY2018Q3 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
43145000 USD
CY2017Q3 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
138000 USD
us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
241000 USD
CY2018Q3 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
769000 USD
us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
1924000 USD
us-gaap Temporary Equity Issue Period Increase Or Decrease
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12934000 USD
CY2017Q4 us-gaap Tenant Improvements
TenantImprovements
128876000 USD
CY2018Q3 us-gaap Tenant Improvements
TenantImprovements
140487000 USD
us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
0 USD
CY2018Q3 us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
-70000 USD
us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
-70000 USD
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73503000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43795000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43791000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57876000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73503000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43795000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43791000 shares
us-gaap Fiscal Period
FiscalPeriod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Interim Financial Information</font><font style="font-family:inherit;font-size:10pt;">&#8212;The accompanying interim consolidated financial statements of CIM Commercial have been prepared by our management in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Certain information and note disclosures required for annual financial statements have been condensed or excluded pursuant to SEC rules and regulations. Accordingly, the interim consolidated financial statements do not include all of the information and notes required by GAAP for complete financial statements. The accompanying financial information reflects all adjustments which are, in the opinion of our management, of a normal recurring nature and necessary for a fair presentation of our financial position, results of operations and cash flows for the interim periods. Operating results for the </font><font style="font-family:inherit;font-size:10pt;">three and nine</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> are not necessarily indicative of the results that may be expected for the year ending </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">. Our accompanying interim consolidated financial statements should be read in conjunction with our audited consolidated financial statements and the notes thereto, included in our Annual Report on Form&#160;10-K filed with the SEC on </font><font style="font-family:inherit;font-size:10pt;">March&#160;12, 2018</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div>
us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ORGANIZATION AND OPERATIONS</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CIM Commercial Trust Corporation ("CIM Commercial" or the "Company"), a Maryland corporation and real estate investment trust ("REIT"), together with its wholly-owned subsidiaries ("we," "us" or "our"), primarily acquires, owns, and operates Class&#160;A and creative office assets in vibrant and improving urban communities throughout the United States. These communities are located in areas that include traditional downtown areas and suburban main streets, which have high barriers to entry, high population density, improving demographic trends and a propensity for growth. We were originally organized in 1993 as PMC Commercial Trust ("PMC Commercial"), a Texas real estate investment trust.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">July&#160;8, 2013</font><font style="font-family:inherit;font-size:10pt;">, PMC Commercial entered into a merger agreement (the "Merger Agreement") with CIM Urban REIT,&#160;LLC ("CIM REIT"), an affiliate of CIM Group, L.P. ("CIM Group" or "CIM"), and subsidiaries of the respective parties. CIM REIT was a private commercial REIT and was the owner of CIM Urban Partners,&#160;L.P. ("CIM Urban"). The transaction (the "Merger") was completed on </font><font style="font-family:inherit;font-size:10pt;">March&#160;11, 2014</font><font style="font-family:inherit;font-size:10pt;"> (the "Acquisition Date"). As a result of the Merger and related transactions, CIM Urban became our wholly-owned subsidiary.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our common stock, </font><font style="font-family:inherit;font-size:10pt;">$0.001</font><font style="font-family:inherit;font-size:10pt;"> par value per share ("Common Stock"), is currently traded on the Nasdaq Global Market ("Nasdaq") and on the Tel Aviv Stock Exchange (the "TASE"), in each case under the ticker symbol "CMCT." Our Series L preferred stock, </font><font style="font-family:inherit;font-size:10pt;">$0.001</font><font style="font-family:inherit;font-size:10pt;"> par value per share ("Series L Preferred Stock"), is currently traded on Nasdaq and on the TASE, in each case under the ticker symbol "CMCTP." We have authorized for issuance </font><font style="font-family:inherit;font-size:10pt;">900,000,000</font><font style="font-family:inherit;font-size:10pt;"> shares of common stock and </font><font style="font-family:inherit;font-size:10pt;">100,000,000</font><font style="font-family:inherit;font-size:10pt;"> shares of preferred stock ("Preferred Stock").</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CIM Commercial has qualified and intends to continue to qualify as a REIT, as defined in the Internal Revenue Code of 1986, as amended.</font></div></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Reclassifications</font><font style="font-family:inherit;font-size:10pt;">&#8212;Certain prior period amounts have been reclassified to conform with the current period presentation. These reclassifications had no effect on previously reported net income or cash flows, other than the adoption of Accounting Standards Update ("ASU") 2016-18 (as defined below) on January 1, 2018, which requires the inclusion of a reconciliation of cash and restricted cash in our consolidated statements of cash flows.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font><font style="font-family:inherit;font-size:10pt;">&#8212;The preparation of consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></div></div>

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0001628280-18-014260-index-headers.html Edgar Link pending
0001628280-18-014260-index.html Edgar Link pending
0001628280-18-014260.txt Edgar Link pending
0001628280-18-014260-xbrl.zip Edgar Link pending
cmct-20180930.xml Edgar Link completed
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cmct-20180930_cal.xml Edgar Link unprocessable
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