Creative Media & Community Trust Corporation filed SEC Form 8-K: Entry into a Material Definitive Agreement
$CMCT
Real Estate Investment Trusts
Real Estate
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM | ||
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): January 8, 2025
Commission File Number 1-13610
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Item 1.01 Entry into a Material Definitive Agreement.
On January 8, 2025, Creative Media & Community Trust Corporation (the “Company”) and Kaiser Foundation Health Plan, Inc., the Company’s largest tenant at 1 Kaiser Plaza in Oakland, California, executed a lease extension amendment, effective December 30, 2024, to extend 236,692 rentable square feet of office space through December 31, 2027 (the “Extension”). The Extension includes all of the tenant’s existing square footage. Prior to the Extension, 152,996 square feet was scheduled to expire in February 2025 and 83,696 square feet was scheduled to expire in February 2027.
After giving effect to the Extension, contractual base rent for the combined 236,692 square foot Kaiser Foundation Health Plan, Inc. lease totals $11.6 million, $12.0 million and $9.3 million for 2025, 2026 and 2027, respectively, inclusive of three months of rent abatement in 2027.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| CREATIVE MEDIA & COMMUNITY TRUST CORPORATION | ||||||||||||||
| Dated: January 15, 2025 | By: | /s/ Barry N. Berlin Barry N. Berlin Chief Financial Officer | ||||||||||||