{"id":835421,"date":"2025-04-09T08:15:39","date_gmt":"2025-04-09T12:15:39","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/cmct-announces-full-repayment-of-credit-facility\/"},"modified":"2025-04-09T08:15:39","modified_gmt":"2025-04-09T12:15:39","slug":"cmct-announces-full-repayment-of-credit-facility","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cmct-announces-full-repayment-of-credit-facility\/","title":{"rendered":"CMCT Announces Full Repayment of Credit Facility"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwalignl { text-align: left }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwleftsingle { border-left: solid black 1pt }\n.bwpadb3 { padding-bottom: 4px }\n.bwpadl0 { padding-left: 0px }\n.bwpadl1 { padding-left: 5px }\n.bwpadr0 { padding-right: 0px }\n.bwrightsingle { border-right: solid black 1pt }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwtopsingle { border-top: solid black 1pt }\n.bwvertalignm { vertical-align: middle }\n.bwvertalignt { vertical-align: top }\n.bwwidth100 { width: 100% }\n.bwwidth11 { width: 11% }\n.bwwidth12 { width: 12% }\n.bwwidth15 { width: 15% }\n.bwwidth30 { width: 30% }\n.bwwidth32 { width: 32% }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\">\nCMCT Announces Full Repayment of Credit Facility\n<\/p>\n<p>DALLAS&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nCreative Media &amp; Community Trust Corporation (NASDAQ: CMCT and TASE: CMCT) (the \u201cCompany\u201d) announced today that it has fully repaid and retired its recourse credit facility after closing a mortgage on 3601 South Congress Avenue (Penn Field), a 16-acre creative office campus in Austin, Texas.\n<\/p>\n<p>\nIn September 2024, the Company announced plans to accelerate its focus on premier multifamily properties, strengthen its balance sheet and improve its liquidity. As part of this plan, the Company announced intention to place non-recourse asset-level financing on several assets and use the proceeds to primarily payoff the $169.3 million balance on its recourse credit facility.\n<\/p>\n<p>\nThe closing of the latest mortgage represents the fourth financing since the refinancing plan was announced. The new financings also provided reserves for office leasing and future funding for the Company\u2019s hotel renovation.\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td colspan=\"5\" class=\"bwvertalignt bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Summary of Recent Non-Recourse Financings<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth30 bwalignl\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\"><b>Property<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth32 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Location<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth11 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Debt (mil.)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Floating\/Fixed<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth15 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Date Closed<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwvertalignm bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSheraton Grand Hotel<sup>1<\/sup><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwvertalignm bwwidth32\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nSacramento, CA\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwvertalignm bwwidth11\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$88.8<sup>3<\/sup><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwvertalignm bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nFloating\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwvertalignm bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nDecember 2024\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwvertalignm bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nWilshire Portfolio<sup>2<\/sup><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwvertalignm bwwidth32\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nBeverly Hills and Brentwood, CA\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwvertalignm bwwidth11\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$105.0<sup>4<\/sup><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwvertalignm bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nFixed\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwvertalignm bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nDecember 2024\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwvertalignm bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n8944 Lindblade\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwvertalignm bwwidth32\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nCulver City, CA\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwvertalignm bwwidth11\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$4.6<sup>5<\/sup><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwvertalignm bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nFloating\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwvertalignm bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nFebruary 2025\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwvertalignm bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n3601 South Congress (Penn Field)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwvertalignm bwwidth32\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAustin, TX\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwvertalignm bwwidth11\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$35.5<sup>4<\/sup><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwvertalignm bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nFloating\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwvertalignm bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nApril 2025\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"bwvertalignt bwpadl0\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<p class=\"bwcellpmargin\">\n1. Includes the Sheraton Grand Hotel Parking Garage &amp; Retail\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"bwvertalignt bwpadl0\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n2. Includes 9460, 11600, 11620 Wilshire Boulevard\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"bwvertalignt bwpadl0\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n3. Up to $92.2 million including future funding\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"bwvertalignt bwpadl0\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n4. Includes $22.9 million of reserves for leasing costs\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"bwvertalignt bwpadl0\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n5. Up to $5 million including future funding\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"bwvertalignt bwpadl0\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nNote: Debt balances as of April 3, 2025\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b>ABOUT CMCT<\/b><\/p>\n<p>\nCreative Media &amp; Community Trust Corporation (\u201cCMCT\u201d) is a real estate investment trust that owns, operates and develops premier multifamily and creative office assets in vibrant communities throughout the United States. CMCT is a leader in creative office, acquiring and developing properties catering to rapidly growing industries such as technology, media and entertainment. CMCT applies the expertise of CIM to the acquisition, development, and operation of top-tier multifamily properties situated in dynamic markets with similar business and employment characteristics to its creative office investments. CMCT also owns one hotel in Northern California and a lending platform that originates loans under the Small Business Administration (\u201cSBA\u201d)\u2019s 7(a) loan program. CMCT is operated by affiliates of CIM Group, L.P., a vertically integrated owner and operator of real assets with multi-disciplinary expertise and in-house research, acquisition, credit analysis, development, finance, leasing, and onsite property management capabilities. (<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.creativemediacommunity.com%2F%3F__hstc%3D39216380.ffb7f2850860760692b8c9040275e176.1700078437109.1730743006428.1730833319378.210%26__hssc%3D39216380.2.1730833319378%26__hsfp%3D3116597616&amp;esheet=54235908&amp;newsitemid=20250409963607&amp;lan=en-US&amp;anchor=www.creativemediacommunity.com&amp;index=1&amp;md5=a5383561c7fa6e850b45a3648be13d2a\">www.creativemediacommunity.com<\/a>).\n<\/p>\n<p><b>Forward Looking Statements<\/b><\/p>\n<p>\nThis press release contains certain \u201cforward-looking statements\u201d within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d), which are intended to be covered by the safe harbors created thereby. These statements include the plans and objectives of management for future operations, including plans and objectives relating to future growth of CMCT\u2019s business and availability of funds. Such forward-looking statements can be identified by the use of forward-looking terminology such as \u201cmay,\u201d \u201cwill,\u201d \u201cproject,\u201d \u201ctarget,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cmight,\u201d \u201cbelieve,\u201d \u201canticipate,\u201d \u201cestimate,\u201d \u201ccould,\u201d \u201cwould,\u201d \u201ccontinue,\u201d \u201cpursue,\u201d \u201cpotential,\u201d \u201cforecast,\u201d \u201cseek,\u201d \u201cplan,\u201d or \u201cshould,\u201d or \u201cgoal\u201d or the negative thereof or other variations or similar words or phrases. Such forward-looking statements also include, among others, statements about CMCT\u2019s plans and objectives relating to future growth and outlook. Such forward-looking statements are based on particular assumptions that management of CMCT has made in light of its experience, as well as its perception of expected future developments and other factors that it believes are appropriate under the circumstances. Forward-looking statements are necessarily estimates reflecting the judgment of CMCT\u2019s management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include those associated with (i) the timing, form, and operational effects of CMCT\u2019s development activities, (ii) the ability of CMCT to raise in place rents to existing market rents and to maintain or increase occupancy levels, (iii) fluctuations in market rents, (iv) the effects of inflation and continuing higher interest rates on the operations and profitability of CMCT and (v) general economic, market and other conditions. Additional important factors that could cause CMCT\u2019s actual results to differ materially from CMCT\u2019s expectations are discussed in \u201cItem 1A\u2014Risk Factors\u201d in CMCT\u2019s Annual Report on Form 10-K for the year ended December 31, 2024 and in Part II, Item 1A of CMCT\u2019s Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission from time to time. The forward-looking statements included herein are based on current expectations and there can be no assurance that these expectations will be attained. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond CMCT\u2019s control. Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that the forward-looking statements expressed or implied will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements expressed or implied herein, the inclusion of such information should not be regarded as a representation by CMCT or any other person that CMCT\u2019s objectives and plans will be achieved. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made. CMCT does not undertake to update them to reflect changes that occur after the date they are made, except as may be required by applicable laws.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250409963607r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250409963607\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250409963607\/en\/<\/a><\/span><\/p>\n<p>\nKaren Diehl<br \/>\n<br \/>Diehl Communications<br \/>\n<br \/>310-741-9097<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:karen@diehlcommunications.com\">karen@diehlcommunications.com<\/a><\/p>\n<p>\nShareholder Relations<br \/>\n<br \/>CIM Group<br \/>\n<br \/>646-652-8473<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:shareholderrelations@cimgroup.com\">shareholderrelations@cimgroup.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Texas<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Residential Building &amp; Real Estate Commercial Building &amp; Real Estate Construction &amp; Property REIT<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250409963607\/en\/770089\/3\/CMCT_Logo_255_143_28-01.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>CMCT Announces Full Repayment of Credit Facility DALLAS&#8211;(BUSINESS WIRE)&#8211; Creative Media &amp; Community Trust Corporation (NASDAQ: CMCT and TASE: CMCT) (the \u201cCompany\u201d) announced today that it has fully repaid and retired its recourse credit facility after closing a mortgage on 3601 South Congress Avenue (Penn Field), a 16-acre creative office campus in Austin, Texas. In September 2024, the Company announced plans to accelerate its focus on premier multifamily properties, strengthen its balance sheet and improve its liquidity. As part of this plan, the Company announced intention to place non-recourse asset-level financing on several assets and use the proceeds to primarily payoff the $169.3 million balance on its recourse credit facility. The closing of the latest mortgage represents the fourth financing &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cmct-announces-full-repayment-of-credit-facility\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;CMCT Announces Full Repayment of Credit Facility&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-835421","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CMCT Announces Full Repayment of Credit Facility - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cmct-announces-full-repayment-of-credit-facility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CMCT Announces Full Repayment of Credit Facility - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"CMCT Announces Full Repayment of Credit Facility DALLAS&#8211;(BUSINESS WIRE)&#8211; Creative Media &amp; Community Trust Corporation (NASDAQ: CMCT and TASE: CMCT) (the \u201cCompany\u201d) announced today that it has fully repaid and retired its recourse credit facility after closing a mortgage on 3601 South Congress Avenue (Penn Field), a 16-acre creative office campus in Austin, Texas. In September 2024, the Company announced plans to accelerate its focus on premier multifamily properties, strengthen its balance sheet and improve its liquidity. As part of this plan, the Company announced intention to place non-recourse asset-level financing on several assets and use the proceeds to primarily payoff the $169.3 million balance on its recourse credit facility. The closing of the latest mortgage represents the fourth financing &hellip; Continue reading &quot;CMCT Announces Full Repayment of Credit Facility&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/cmct-announces-full-repayment-of-credit-facility\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-09T12:15:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250409963607r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cmct-announces-full-repayment-of-credit-facility\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cmct-announces-full-repayment-of-credit-facility\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"CMCT Announces Full Repayment of Credit Facility\",\"datePublished\":\"2025-04-09T12:15:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cmct-announces-full-repayment-of-credit-facility\\\/\"},\"wordCount\":979,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cmct-announces-full-repayment-of-credit-facility\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20250409963607r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cmct-announces-full-repayment-of-credit-facility\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cmct-announces-full-repayment-of-credit-facility\\\/\",\"name\":\"CMCT Announces Full Repayment of Credit Facility - 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In September 2024, the Company announced plans to accelerate its focus on premier multifamily properties, strengthen its balance sheet and improve its liquidity. As part of this plan, the Company announced intention to place non-recourse asset-level financing on several assets and use the proceeds to primarily payoff the $169.3 million balance on its recourse credit facility. 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