CIM COMMERCIAL TRUST CORPORATION (NASDAQ:CMCT) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
The information set forth below in Item 2.01 is incorporated
herein by reference.
Item 2.01 Completion of Acquisition or Disposition of
Assets.
On March28, 2017, CIM Urban REIT 211 Main St. (SF), LP, an
indirect, wholly-owned subsidiary of CIM Commercial Trust
Corporation (the Company), completed the previously announced
sale of an office building located at 211 Main Street (211 Main)
in San Francisco, California, to BPP 211 Main Owner LLC. The
sales price is approximately $293 million, subject to adjustment
in accordance with the terms of the Purchase and Sale Agreement.
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 211 Main, are furnished hereto as Exhibit99.1 to this
Current Report on Form8-K and are incorporated herein by
reference:
Unaudited Pro Forma Consolidated Balance Sheet as of December31,
2016
Unaudited Pro Forma Consolidated Statement of Operations for the
Year Ended December31, 2016.
(d) Exhibits.
|
ExhibitNo. |
|
Description |
|
10.1 |
Purchase and Sale Agreement, dated as of February10, 2017, |
|
|
99.1 |
Unaudited Pro Forma Consolidated Balance Sheet and |
About CIM COMMERCIAL TRUST CORPORATION (NASDAQ:CMCT)
CIM Commercial Trust Corporation is engaged in acquiring, owning and operating Class A office investments in urban communities throughout the United States. These communities are located in areas that include traditional downtown areas and suburban main streets. The Company operates in the business segments, including the acquisition, redevelopment, ownership and management of office real estate, multifamily real estate and hotels. Its real estate portfolio consists of over 30 assets. It has approximately 20 office properties (including over two parking garages and over two development sites), totaling approximately 5.6 million rentable square feet, which are approximately 86.9% occupied; multifamily properties, composed of over 930 units, which are approximately 92.4% occupied, and hotels, which have a total of approximately 1,070 rooms. Its office, multifamily and hotel assets are located in over 10 of the United States markets. CIM COMMERCIAL TRUST CORPORATION (NASDAQ:CMCT) Recent Trading Information
CIM COMMERCIAL TRUST CORPORATION (NASDAQ:CMCT) closed its last trading session 00.00 at 16.10 with 475 shares trading hands.