Trinity Place defaults on debt, enters forbearance; signs 30-day term sheets for strategic investment

Trinity Place Holdings Inc.

Entered forbearance agreements with Mezzanine and CCF lenders; forbearance ends Dec 31, 2023 if no strategic transaction.
Signed term sheets with unaffiliated asset manager and lender affiliate for potential investment and debt modification; 30-day exclusivity.
In discussions with Mortgage Lender for additional forbearance; no assurance of final agreements.
Previously disclosed $7M prepayment and cash interest deferment; now extended under forbearance.

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