Creative Media & Community Trust Corp (CMCT): M&A transaction — CMCT completes $142.7M acquisition of 98.05% interest in 288-unit Oakland apartment building

Creative Media & Community Trust Corp

Purchase price of $142.7M includes assumption of ~$78.3M mortgage on Eleven Fifty Clay property.
Acquisition funded from cash on hand, Series A1 Preferred Stock proceeds, and credit facility draw.
Property is a 16-story, 288-unit apartment building in downtown Oakland, California.
Seller is indirectly wholly-owned by a fund managed by an affiliate of CIM Group, manager of CMCT.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Creative Media & Community Trust Corp completed an acquisition involving 1100 Clay Venture Holdings, LLC for $142.7 million (closed 2023-03-28).

Action: acquisition
Counterparty: 1100 Clay Venture Holdings, LLC
Consideration: $142.7 million
Closing: 2023-03-28

Exact text from the filing

On March 28, 2023, an indirect wholly-owned subsidiary of Creative Media & Community Trust Corporation (“CMCT”) completed the previously announced acquisition of a 98.05% interest in Eleven Fifty Clay, a 16-story apartment building with 288 units in downtown Oakland, California, from 1100 Clay Venture Holdings, LLC (the “Clay Seller”) for $142.7 million (including an assumption of a mortgage of approximately $78.3 million).

View on SEC.gov

Browse all m&a transactions →

Creative Media & Community Trust Corp filing history →

Source: SEC EDGAR

accession 0000908311-23-000011

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.