CMCT names John Hope Bryant to its Board of Directors
November 22 2022 - 8:00AM
Business Wire
Creative Media & Community Trust Corporation (NASDAQ: CMCT
and TASE: CMCT-L) announced today that John Hope Bryant has been
appointed to its Board of Directors.
Mr. Bryant is chairman and chief executive officer of Bryant
Group Ventures and The Promise Homes Company (“TPHC”), the largest
for-profit minority-controlled owner of institutional-quality,
single-family residential rental homes in the U.S. Bryant founded
TPHC as a start-up idea in the summer of 2017, and, by the summer
of 2021, it had become the largest minority controlled single
family home rental company in the nation. Further, Mr. Bryant has
served as a director of Nextdoor Holdings, Inc. since November 2021
and currently serves on its Nominating, Corporate Governance, and
Corporate Responsibility Committee.
Mr. Bryant is also the Founder, Chairman, and Chief Executive
Officer of Operation HOPE, Inc., the largest not-for-profit and
best-in-class provider of financial literacy, financial inclusion,
and economic empowerment tools and services in the United States
for youth and adults. He has served as an advisor to three sitting
U.S. presidents from both political parties.
Mr. Bryant is a founding member of Clinton Global Initiative and
a member of the World Economic Forum’s “The Forum of Young Global
Leaders.” In addition, he hosts a national podcast series on iHeart
and is a regular guest on CNBC’s Squawk Box, a columnist for
Bloomberg Opinion and a contributor to Huffington Post and Black
Enterprise.
ABOUT CMCT
Creative Media & Community Trust Corporation (“CMCT”) is a
real estate investment trust that seeks to own, operate and develop
premier multifamily and creative office assets in vibrant and
emerging 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 seeks to apply 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
(“SBA”)’s 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.
(www.creativemediacommunity.com).
FORWARD-LOOKING STATEMENTS
This press release contains certain “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 (the “Exchange
Act”), which are intended to be covered by the safe harbors created
thereby. Such forward-looking statements can be identified by the
use of forward-looking terminology such as “may,” “will,”
“project,” “target,” “expect,” “intend,” “might,” “believe,”
“anticipate,” “estimate,” “could,” “would,” “continue,” “pursue,”
“potential,” “forecast,” “seek,” “plan,” or “should,” or “goal” or
the negative thereof or other variations or similar words or
phrases. Such forward-looking statements include, among others,
statements about CMCT’s 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’s 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 scope, severity and duration of the current pandemic
of COVID-19, and actions taken to contain the pandemic or mitigate
its impact,(ii) the adverse effect of COVID-19 on the financial
condition, results of operations, cash flows and performance of
CMCT and its tenants and business partners, the real estate market
and the global economy and financial markets, among others, (iii)
the timing, form, and operational effects of CMCT’s development
activities, (iv) the ability of CMCT to raise in place rents to
existing market rents and to maintain or increase occupancy levels,
(v) fluctuations in market rents, including as a result of
COVID-19, (vi) the effects of inflation and higher interest rates
on the operations and profitability of CMCT and (vii) general
economic, market and other conditions. Additional important factors
that could cause CMCT’s actual results to differ materially from
CMCT’s expectations are discussed under the section “Risk Factors”
in CMCT’s Annual Report on Form 10-K for the year ended December
31, 2021 and in CMCT's Quarterly Report on Form 10-Q for the period
ended September 30, 2022. 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’s 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 included herein will
prove to be accurate. In light of the significant uncertainties
inherent in the forward-looking statements included herein, the
inclusion of such information should not be regarded as a
representation by CMCT or any other person that CMCT’s 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20221122005323/en/
Media Relations: Karen Diehl Diehl Communications
310-741-9097 karen@diehlcommunications.com or Investor
Relations: Steve Altebrando, 646-652-8473
shareholders@creativemediacommunity.com
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