CIM COMMERCIAL TRUST CORPORATION (NASDAQ:CMCT) Files An 8-K Completion of Acquisition or Disposition of Assets
Item 2.01 Completion of Acquisition or Disposition of Assets.
On July 30, 2019, Union Square 941 Property LP, Union Square 825 Property LP and Union Square Plaza Owner LP, all of which are indirect subsidiaries of CIM Commercial Trust Corporation (the Company), completed the previously announced sale to Network Realty Partners, LLC of the following properties located in Washington, D.C. (collectively, the Union Square Properties): 999 North Capitol St. NE, 899 North Capitol St. NE and 901 North Capitol St. NE. The aggregate contract sales price was $181,000,000.
The description of the purchase and sale agreement for the Union Square Properties contained herein is not complete and is qualified
in its entirety by reference to the full text of such agreement. A copy of the purchase agreement is attached as Exhibit 10.1 hereto and
is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(b) Pro Forma Financial Information.
The following pro forma financial information (unaudited) of the Company, and the related notes thereto, after giving effect to the sale of the Union Square Properties, are furnished hereto as Exhibit 99.1 to this Current Report on Form 8-K and are incorporated herein by reference:
Unaudited Pro Forma Consolidated Balance Sheet as of March 31, 2019.
Unaudited Pro Forma Consolidated Statement of Operations for the Three Months Ended March 31, 2019.
Unaudited Pro Forma Consolidated Statement of Operations for the Year Ended December 31, 2018.
Such financial information is presented for informational purposes only and should not be considered indicative of actual results that would have been achieved had the sale of the Union Square Properties actually been consummated on the dates indicated in such pro forma financial statements and does not purport to be indicative of the financial condition as of any future date or results of operation for any future period.