Claros Mortgage Trust Enters New Loan Agreement
Ticker: CMTG · Form: 8-K · Filed: Aug 20, 2024 · CIK: 1666291
| Field | Detail |
|---|---|
| Company | Claros Mortgage Trust, Inc. (CMTG) |
| Form Type | 8-K |
| Filed Date | Aug 20, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt, financing, loan-agreement
Related Tickers: CMTG
TL;DR
CMTG just signed a new loan deal, potentially boosting their cash flow.
AI Summary
On August 15, 2024, Claros Mortgage Trust, Inc. entered into a material definitive agreement, specifically a loan agreement. This agreement creates a direct financial obligation for the company, the details of which are outlined in the filing.
Why It Matters
This filing indicates Claros Mortgage Trust has secured new financing, which could impact its liquidity and ability to fund future operations or investments.
Risk Assessment
Risk Level: medium — Entering into new financial obligations can introduce leverage and repayment risks, depending on the terms of the agreement.
Key Players & Entities
- Claros Mortgage Trust, Inc. (company) — Registrant
- August 15, 2024 (date) — Date of earliest event reported
- Mack Real Estate Credit Strategies, L.P. (company) — Address of Principal Executive Offices
FAQ
What is the nature of the material definitive agreement entered into by Claros Mortgage Trust, Inc. on August 15, 2024?
The filing indicates the agreement is a loan agreement, creating a direct financial obligation for the registrant.
What is the date of the earliest event reported in this 8-K filing?
The earliest event reported is dated August 15, 2024.
What is the principal executive office address for Claros Mortgage Trust, Inc.?
The principal executive office is located at c/o Mack Real Estate Credit Strategies, L.P., 60 Columbus Circle, 20th Floor, New York, New York, 10023.
What is the Commission File Number for Claros Mortgage Trust, Inc.?
The Commission File Number for Claros Mortgage Trust, Inc. is 001-40993.
What is the IRS Employer Identification No. for Claros Mortgage Trust, Inc.?
The IRS Employer Identification No. for Claros Mortgage Trust, Inc. is 47-4074900.
Filing Stats: 588 words · 2 min read · ~2 pages · Grade level 10.8 · Accepted 2024-08-20 16:08:49
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value per share CMTG New York S
Filing Documents
- cmtg-20240815.htm (8-K) — 41KB
- cmtg-ex10_1.htm (EX-10.1) — 58KB
- 0000950170-24-099084.txt ( ) — 221KB
- cmtg-20240815.xsd (EX-101.SCH) — 25KB
- cmtg-20240815_htm.xml (XML) — 5KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. On August 15, 2024, CMTG MS Finance LLC and CMTG MS Financing Holdco LLC, each subsidiaries of Claros Mortgage Trust, Inc., entered into a Thirteenth Amendment to Master Repurchase and Securities Contract Agreement (the "Morgan Stanley Facility") with Morgan Stanley Bank, N.A. The purpose of the amendment to the Morgan Stanley Facility was, among other things, to decrease the maximum facility amount and to provide for options to extend the facility maturity date. The foregoing description of the amendment to the Morgan Stanley Facility is only a summary of certain material provisions and is qualified in its entirety by reference to a copy of such amendment, which is filed herewith as Exhibit 10.1 and by this reference incorporated herein. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off Balance Sheet Arrangement of a Registrant. The information required by Item 2.03 contained in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. 10.1* Thirteenth Amendment to Master Repurchase and Securities Contract Agreement, dated as of August 15, 2024, by and among CMTG MS Finance LLC, CMTG MS Financing Holdco LLC and Morgan Stanley Bank, N.A. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Filed herewith
SIGNATURES
SIGNATURES 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. CLAROS MORTGAGE TRUST, INC. Date: August 20, 2024 By: /s/ J. Michael McGillis J. Michael McGillis Chief Financial Officer, President and Director (Principal Financial and Accounting Officer)