secwatch.observer — SEC 8-K summary
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Issuer:     Creative Media & Community Trust Corp (CMCT)
CIK:        0000908311
Form:       8-K
Filed at:   2025-01-02T23:59:59+00:00
Accession:  0000908311-24-000076
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CMCT obtains $105M mortgage loan from Wells Fargo, BofA, JPMorgan at 7.413% fixed rate
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- $105M first lien mortgage loan secured by three office buildings in Beverly Hills and Los Angeles.
- Proceeds used to pay down $82.3M of existing debt under the JPMorgan-led credit facility.
- Loan is interest-only, 5-year term ending Jan 11, 2030, with a fixed interest rate of 7.413%.
- Non-recourse with standard carveout guaranties from CMCT and a CIM affiliate; net worth covenant of $105M.
- Prepayment allowed after Jan 11, 2028 with yield maintenance; partial prepayment permitted on sale of properties.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/908311/000090831124000076/0000908311-24-000076-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/908311/000090831124000076/cmct-20241227.htm
  HTML page:      https://secwatch.observer/filing/0000908311-24-000076

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