CIM Commercial Trust Provides Update On Plan To Maximize Returns For Shareholders

Sale of Five Properties

DALLAS–(BUSINESS WIRE)–CIM Commercial Trust Corporation (NASDAQ & TASE: CMCT) announced today
that it has sold five properties as part of its previously announced
plan of unlocking embedded value in its portfolio and improving the
trading liquidity of its common stock. The properties are located in
Oakland, California and Washington, D.C. and represent more than 50% of
the properties that CMCT targeted for sale as part of such plan. Of the
remaining properties targeted for sale, one property in San Francisco,
California is expected to be sold in March and three additional
properties are being actively marketed for sale.

After the completion of the sales, CMCT intends to provide liquidity to
its common stockholders by returning a significant portion of the net
proceeds to them. Further, CMCT expects that shares of CMCT common stock
held by its majority stockholder will be distributed to a diverse group
of holders, which CMCT expects to be comprised of some of the current
investors of such majority stockholder. CMCT believes that these actions
will improve the trading liquidity of its common stock and that the
price of CMCT common stock will better reflect the strength of CMCT’s
underlying portfolio.

ABOUT CIM COMMERCIAL TRUST CORPORATION

CIM Commercial Trust Corporation is a real estate investment trust that
primarily acquires, owns, and operates Class A and creative office
assets in vibrant and improving metropolitan communities throughout the
United States. Its properties are primarily located in Los Angeles,
the San Francisco Bay Area and Washington, D.C. 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 property management capabilities. (www.cimcommercial.com).

FORWARD-LOOKING STATEMENTS

The information set forth herein contains “forward-looking statements.”
You can identify these statements by the fact that they do not relate
strictly to historical or current facts or discuss the business and
affairs of CIM Commercial Trust Corporation on a prospective basis.
Further, statements that include words such as “may,” “will,” “expect,”
”target,” “believe,” “intend,” or “could,” or the negative or other
words or expressions of similar meaning, may identify forward-looking
statements.

CMCT bases these forward-looking statements on particular assumptions
that it 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. The forward-looking statements are
necessarily estimates reflecting the judgment of CMCT 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 forward-looking statements are subject to risks,
uncertainties and other factors, including those associated with
(i) CMCT’s ability to consummate sales with respect to the properties
targeted for sale, (ii) the extent to which capital is returned to
stockholders, if at all, and the timing thereof, (iii) the decision of
CMCT’s majority stockholder to distribute shares of CMCT common stock to
its investors and (iv) general economic, market and other conditions.
For a further list and description of the risks and uncertainties
inherent in forward-looking statements, see CMCT’s Annual Report on Form
10-K for the fiscal year ended December 31, 2017 and the Registration
Statement on Form S-11 (Reg. No. 333-210880) relating to the Series A
Preferred Stock.

As you read and consider the information herein, you are cautioned to
not place undue reliance on these forward-looking statements. These
statements are not guarantees of performance or results and speak only
as of the date hereof. These forward-looking statements involve risks,
uncertainties and assumptions. In light of these risks and
uncertainties, there can be no assurance that the results and events
contemplated by the forward-looking statements contained herein will in
fact transpire. New factors emerge from time to time, and it is not
possible for CMCT to predict all of them. Nor can CMCT assess the impact
of each such factor or the extent to which any factor, or combination of
factors may cause results to differ materially from those contained in
any forward-looking statement. CMCT undertakes no obligation to publicly
update or release any revisions to these forward-looking statements to
reflect events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events, except as required by law.

Contacts

Media Relations:
Bill Mendel, 212-397-1030
bill@mendelcommunications.com

Investor Relations:
Steve Altebrando, 646-652-8473
investors@cimcommercial.com

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