secwatch.observer — SEC 8-K summary
======================================

Issuer:     Creative Media & Community Trust Corp (CMCT)
CIK:        0000908311
Form:       8-K
Filed at:   2023-02-03T23:59:59+00:00
Accession:  0000908311-23-000007
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CMCT completes $122.8M Oakland acquisitions; agrees to $142.7M Eleven Fifty Clay purchase
--------------------------------------------------------------------------------

- Closed acquisition of 89.42% interest in Channel House (333 units), land parcels F-3 and Site D for $120.4M, $0.2M, and $2.2M.
- Agreed to acquire 98.05% interest in Eleven Fifty Clay (288 units) for $142.7M including $77.5M mortgage assumption; $10M non-refundable deposit paid.
- Eleven Fifty Clay expected to close no later than March 31, 2023; funded by cash, preferred stock proceeds, and credit facility draw.
- Also announced intention to acquire 75-unit Parkview Apartments in Los Angeles; expected close mid-February 2023.
- All sellers are affiliates of CIM Group, which manages CMCT; related-party transactions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/908311/000090831123000007/0000908311-23-000007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/908311/000090831123000007/cmct-20230131.htm
  HTML page:      https://secwatch.observer/filing/0000908311-23-000007

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer