CMCT defaults on $97.1M non-recourse mortgage; lender demands full payment

Creative Media & Community Trust Corp

Received default notice on $97.1M non-recourse mortgage at 1 Kaiser Plaza after July 1, 2026 maturity.
Company current on interest payments but elected not to invest additional capital to refinance.
Lender demands immediate full payment; rents and property income now held in trust for lender.
Default interest rate of 5% above 4.14% per annum applies to outstanding balance.
Company engaging with special servicer; no assurance on timing or outcome of resolution.

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