CMCT宣布采取措施加强资产负债表并改善流动性;为了转向优质多家族资产，计划通过再融资和优先股赎回来加强资产负债表

The Board of Directors Declares $0.04 Per Share Quarterly Common Dividend Payable in Common Stock

CMCT Announces Steps to Strengthen Balance Sheet and Improve Liquidity

CMCT (NASDAQ:CMCT) announced today actions to accelerate the transition of its focus towards premier multifamily assets from traditional office assets and strengthen its balance sheet and liquidity.

The Company has previously targeted a capital structure consisting of approximately 40% common equity, 30% preferred equity and 30% debt. The recent decline in real estate values, particularly in the Bay Area and the office market in general, has resulted in a lower than targeted common equity ratio. CMCT recently explored the sale of several high-quality assets to improve its common equity ratio. The offer CMCT received reflected what the Company believed to be the fair value of these assets, but the buyer was unable to close. As a result of this and the recent decline in interest rates, CMCT has decided to shift its focus to refinancing rather than a sale of these assets. The Company intends to place property-level financing on several assets and use part of the proceeds to fully repay its recourse corporate-level credit facility. The Company plans to invest any remaining proceeds, along with proceeds from any future potential asset sales, principally in premier multifamily properties.