Creative Media & Community Trust Corp Files 8-K

TL;DR

CMCT filed an 8-K on 10/29 for an 10/24 event, mostly financial docs.

AI Summary

Creative Media & Community Trust Corp filed an 8-K on October 29, 2024, reporting an event on October 24, 2024. The filing primarily concerns financial statements and exhibits, with no specific material events detailed in the provided text.

Why It Matters

This filing indicates that Creative Media & Community Trust Corp is providing updated financial information or exhibits to the SEC, which could be relevant for investors assessing the company's financial health.

Risk Assessment

Risk Level: low — The filing is a standard 8-K for financial statements and exhibits, not indicating any immediate material adverse events.

Key Players & Entities

• Creative Media & Community Trust Corp (company) — Registrant
• October 24, 2024 (date) — Earliest event reported
• October 29, 2024 (date) — Date of report
• 1-13610 (company) — Commission File Number

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 Par Value CMCT Nasdaq Global Market C
• $206,230,000.00 — 2022 credit facility were reduced from $206,230,000.00 to $169,263,000.00. Pursuant to the Thi
• $169,263,000.00 — ty were reduced from $206,230,000.00 to $169,263,000.00. Pursuant to the Third Modification Agr

Filing Documents

• cmct-20241024.htm (8-K) — 32KB
• jpmorgan-cmctxcimurbanx202.htm (EX-10.1) — 138KB
• 0000908311-24-000057.txt ( ) — 369KB
• cmct-20241024.xsd (EX-101.SCH) — 3KB
• cmct-20241024_def.xml (EX-101.DEF) — 18KB
• cmct-20241024_lab.xml (EX-101.LAB) — 32KB
• cmct-20241024_pre.xml (EX-101.PRE) — 19KB
• cmct-20241024_htm.xml (XML) — 5KB

01. Other Events

Item 8.01. Other Events As previously disclosed, in December 2022, certain wholly-owned subsidiaries of Creative Media & Community Trust Corporation (the "Company"), consisting of 9460 Wilshire Blvd (BH) Owner, L.P., CIM/11600 Wilshire (Los Angeles), LP, CIM/11620 Wilshire (Los Angeles), LP, 1130 Howard (SF) Owner, L.P., CIM Urban REIT Properties IX, L.P., CIM/J Street Hotel Sacramento, L.P., CIM/J Street Garage Sacramento, L.P., and Two Kaiser Plaza (Oakland) Owner, LLC (each, a "Borrower" and, together, the "Borrowers"), entered into an Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders from time to time party thereto (the "Credit Agreement"). On October 24, 2024, lenders under the 2022 credit facility and the Company entered into an agreement (the "Third Modification Agreement") pursuant to which the lenders waived an event of default with respect to the Company's non-compliance with a financial covenant for the test period ending September 30, 2024. Pursuant to the Third Modification Agreement, the aggregate commitments under the 2022 credit facility were reduced from $206,230,000.00 to $169,263,000.00. Pursuant to the Third Modification Agreement, the Company and the lenders agreed that, starting April 1, 2025, excess cash flow generated by the Borrowers under the 2022 credit facility will be deposited into a collateral account controlled by the administrative agent. The Borrowers' ability to withdraw funds from the collateral account will be limited to specified uses and subject to certain requirements. In addition, the lenders agreed (i) to modify the borrowing base formula to remove certain limitations on the inclusion of office, retail, flex office/industrial and standalone parking assets and (ii) subject to certain conditions, to release assets relating to the Sheraton Grand Hotel in Sacramento, California to facilitate a refinancing of such property. The Third Modification Agreement did

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit Number Exhibit Description 10.1 Third Modification Agreement, dated October 24, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. CREATIVE MEDIA & COMMUNITY TRUST CORPORATION Dated: October 29, 2024 By: /s/ Barry N. Berlin Barry N. Berlin Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR