Creative Media mmunity Trust : Final Prospectus Supplement

Filed pursuant to Rule 424(b)(5)

Registration No. 333-233255

PROSPECTUS SUPPLEMENT

TO THE PROSPECTUS DATED DECEMBER 4, 2019

Creative Media & Community Trust Corporation

Maximum of $692,312,129,

on an aggregate basis, of Series A1 Preferred Stock

Creative Media & Community Trust Corporation (formerly known as CIM Commercial Trust Corporation) (the "Company," "we," "us" and "our") is offering a maximum of $692,312,129, on an aggregate basis, of Series A1 Preferred Stock, par value $0.001 per share (the "Series A1 Preferred Stock"), with an initial stated value of $25.00 per share (the "Series A1 Stated Value"). As of June 10, 2022, there are no shares of Series A1 Preferred Stock issued and outstanding.

Each share of the Series A1 Preferred Stock is offered and will be sold at a public offering price of $25.00 per share, except as otherwise stated in the section entitled "Plan of Distribution" in this prospectus supplement.

The Series A1 Preferred Stock ranks on parity with our Series A Preferred Stock, par value $0.001 per share (the "Series A Preferred Stock"), and our Series D Preferred Stock, par value $0.001 per share (the "Series D Preferred Stock"), each of which ranks on parity with the other. With respect to the payment of dividends, the Series A1 Preferred Stock, along with each of the Series A Preferred Stock and Series D Preferred Stock, ranks senior to our Series L Preferred Stock, par value $0.001 per share (the "Series L Preferred Stock" and, together with the Series A Preferred Stock, Series A1 Preferred Stock and Series D Preferred Stock, the "Preferred Stock") and our common stock, par value $0.001 per share ("Common Stock"). With respect to the distribution of amounts upon liquidation, dissolution or winding-up, the Series A1 Preferred Stock, as well as the Series A Preferred Stock and the Series D Preferred Stock, ranks on parity with our Series L Preferred Stock, to the extent of the stated value of the Series L Preferred Stock, which is presently $28.37 (subject to appropriate adjustment in limited circumstances) (the "Series L Stated Value"), and otherwise ranks senior to our Series L Preferred Stock and our Common Stock. The Series A1 Preferred Stock does not entitle its holders to voting rights in respect of any matter.

Our Common Stock is traded on the Nasdaq Global Market ("Nasdaq"), under the ticker symbol "CMCT," and on the Tel Aviv Stock Exchange (the "TASE"), under the ticker symbol "CMCT-L."

We have elected to be taxed as a real estate investment trust ("REIT") under the provisions of the Internal Revenue Code of 1986, as amended (the "Code"). We impose certain restrictions on the ownership and transfer of our capital stock. You should read the information under the section entitled "Description of Capital Stock-Select Charter Provisions Related to Our Capital Stock-Restrictions on Ownership and Transfer" in the accompanying prospectus for a description of these restrictions.

Investing in our securities involves significant risks. See "Risk Factors" on page S-7 of this prospectus supplement to read about factors you should consider before investing in our securities.

Neither the Securities and Exchange Commission (the "SEC") nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus supplement. Any representation to the contrary is a criminal offense.

		Series A1 Preferred Stock
		Per Share			Maximum Offering
Public offering price (1)	$	25.0000		$	692,312,129
Selling commissions (2)(3)		1.7500			48,461,849
Dealer manager fee (2)(3)		0.7500			20,769,364
Proceeds, before expenses, to us	$	22.5000		$	623,080,916

1. As used in this prospectus supplement, the term "selling price" refers to the marketed public offering price of the Series A1 Preferred Stock, as applicable, at the time of sale of a given share.
2. Our dealer manager has authorized, and we expect our dealer manager to continue to authorize, other broker-dealers that are members of the Financial Industry Regulatory Authority ("participating broker- dealers") to sell our Series A1 Preferred Stock. Our dealer manager reallows the full selling commissions and may reallow a portion of the dealer manager fee earned on the selling price of each share sold by a participating broker-dealer, to such participating broker-dealer as a non-accountable marketing or due diligence allowance. The amount of the reallowance of the dealer manager fee to any participating broker- dealer will be determined by the dealer manager in its sole discretion. We or our affiliates also may provide permissible forms of non-cash compensation to registered representatives of our dealer manager and the participating broker-dealers. The value of such items will be considered underwriting compensation in connection with this offering. The combined selling commissions, dealer manager fee, and other expenses as described in the "Plan of Distribution" section of this prospectus supplement and any such non-cash compensation that is considered underwriting compensation for this offering will not exceed 10.00% of the aggregate gross proceeds of this offering.
3. The maximum selling commissions and dealer manager fee in respect of the Series A1 Preferred Stock are equal to 7.00% and 3.00% of the aggregate selling price of the Series A1 Preferred Stock, respectively. All such fees are payable to our dealer manager, subject to reallowance to soliciting broker dealers as described in footnote 2 above. The selling commissions and dealer manager fee may be reduced or eliminated with regard to Series A1 Preferred Stock sold to or for the account of certain categories of purchasers. See "Plan of Distribution" in this prospectus supplement.

The dealer manager of this offering is CCO Capital, LLC, a registered broker-dealer and an affiliate of the Company ("CCO Capital"). CCO Capital is under common control with the Operator (as defined herein) and the Administrator (as defined herein). CCO Capital is not required to sell any specific number or dollar amount of Series A1 Preferred Stock, but will use its "reasonable best efforts" to sell such securities. The minimum permitted purchase is generally $5,000, but purchases of less than $5,000 may be made in the discretion of CCO Capital. We may terminate this offering at any time or may offer Series A1 Preferred Stock pursuant to a new registration statement.

We sell Series A1 Preferred Stock primarily through Depository Trust Company ("DTC") settlement or, under special circumstances and at the Company's sole discretion, through Direct Registration System ("DRS") settlement. See the section entitled "Plan of Distribution" in this prospectus supplement for a description of these settlement methods.

CCO CAPITAL, LLC

as Dealer Manager

The date of this prospectus supplement is June 10, 2022

TABLE OF CONTENTS
Prospectus Supplement
ABOUT THIS PROSPECTUS SUPPLEMENT .......................................................................................................	S-1
SUMMARY ..............................................................................................................................................................	S-1
RISK FACTORS .......................................................................................................................................................	S-7
WHERE YOU CAN FIND MORE INFORMATION ............................................................................................	S-11
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS..........................................................	S-12
USE OF PROCEEDS ..............................................................................................................................................	S-13
DESCRIPTION OF SECURITIES OFFERED .......................................................................................................	S-13
MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES .......................................................................	S-19
CERTAIN BENEFIT PLAN INVESTOR CONSIDERATIONS ...........................................................................	S-37
PLAN OF DISTRIBUTION....................................................................................................................................	S-38
LEGAL MATTERS ................................................................................................................................................	S-44
EXPERTS................................................................................................................................................................	S-45
Prospectus
ABOUT THIS PROSPECTUS......................................................................................................................................	1
RISK FACTORS ...........................................................................................................................................................	1
WHERE YOU CAN FIND MORE INFORMATION ..................................................................................................	1
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS................................................................	2
OUR COMPANY..........................................................................................................................................................	3
USE OF PROCEEDS ....................................................................................................................................................	3
DESCRIPTION OF DEBT SECURITIES ....................................................................................................................	3
DESCRIPTION OF CAPITAL STOCK .......................................................................................................................	5
DESCRIPTION OF DEPOSITARY SHARES ...........................................................................................................	12
DESCRIPTION OF WARRANTS..............................................................................................................................	16
DESCRIPTION OF RIGHTS......................................................................................................................................	17
DESCRIPTION OF UNITS ........................................................................................................................................	18
CERTAIN PROVISIONS OF THE MARYLAND GENERAL CORPORATION LAW
AND OUR CHARTER AND BYLAWS ....................................................................................................................	18
PLAN OF DISTRIBUTION........................................................................................................................................	22
VALIDITY OF THE SECURITIES OFFERED HEREBY ........................................................................................	24
EXPERTS....................................................................................................................................................................	25

ABOUT THIS PROSPECTUS SUPPLEMENT

This document is in two parts. The first part is this prospectus supplement, which contains the specific terms of this offering of Series A1 Preferred Stock. The second part, the accompanying prospectus dated December 4, 2019, which is part of our shelf registration statement on Form S-3, gives more general information, some of which may not apply to this offering.

This prospectus supplement and the information incorporated by reference in this prospectus supplement may add, update or change information contained in the accompanying prospectus. If there is any inconsistency between the information in this prospectus supplement and the information contained in the accompanying prospectus, the information in this prospectus supplement will apply and will supersede any such information in the accompanying prospectus. If there is any inconsistency between the information in this prospectus supplement or the accompanying prospectus, on the one hand, and information incorporated by reference herein after the date of this prospectus supplement, then the information in such subsequent filing supersedes the information in this prospectus supplement and the accompanying prospectus.

In making your investment decision, it is important for you to read and consider all information contained or incorporated by reference in this prospectus supplement, the accompanying prospectus and any free writing prospectus relating to this offering prepared by us or on our behalf or to which we have referred you. You should also read and consider the information in the documents to which we have referred you in "Where You Can Find More Information" in this prospectus supplement and the accompanying prospectus.

Neither we nor CCO Capital has authorized anyone to provide any information other than that contained in or incorporated by reference in this prospectus supplement, the accompanying prospectus and any free writing prospectus relating to this offering prepared by us or on our behalf or to which we have referred you. We and CCO Capital take no responsibility for, and provide no assurance as to the reliability of, any other information that others may give you.

Neither we nor CCO Capital is making an offer to sell or is soliciting offers to buy these securities in any jurisdiction where or to any person to whom the offer or sale is not permitted. The information contained in or incorporated by reference in this prospectus supplement, the accompanying prospectus or any free writing prospectus that we may provide you in connection with this offering and other offering material filed by us with the SEC is accurate only as of the date of those documents or information, regardless of the time of delivery of the documents or information or the time of any sale of the securities. Our business, financial condition, results of operations and future growth prospects may have changed since those dates.

For investors outside the United States: Neither we nor CCO Capital has done anything that would permit this offering or possession or distribution of this prospectus supplement, the accompanying prospectus or any free writing prospectus that we may provide to you in connection with this offering in any jurisdiction where action for that purpose is required, other than in the United States. You are required to inform yourselves about and to observe any restrictions relating to this offering and the distribution of this prospectus supplement, the accompanying prospectus and any such free writing prospectus outside of the United States.

Unless otherwise indicated in this prospectus supplement, or if the context otherwise requires, "CMCT," the "Company," "we," "us" and "our" refer to Creative Media & Community Trust Corporation and its subsidiaries.

SUMMARY

This summary highlights information about us and the Series A1 Preferred Stock being offered by this prospectus supplement. This summary is not complete and does not contain all of the information that you should consider prior to investing in the Series A1 Preferred Stock. As a result, you should carefully read this entire prospectus supplement, the accompanying prospectus and any other offering materials, including the information set forth in "Risk Factors" and our consolidated financial statements, and the related notes thereto, before making an investment decision.

S-1

Our Company

CMCT is a Maryland corporation and a REIT. We primarily own and operate Class A and creative office real assets in vibrant and improving metropolitan communities throughout the United States. We also own one hotel in northern California and a lending platform that originates loans under the Small Business Administration ("SBA") 7(a) loan program. We seek to acquire, operate and develop premier multifamily and creative office assets that cater to rapidly growing industries such as technology, media and entertainment in vibrant and emerging communities throughout the United States. We seek to apply the expertise of CIM Group 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. All of our multifamily and creative office assets are and will generally be located in communities qualified by CIM Group.

CMCT is operated by affiliates of CIM Group, L.P. ("CIM Group"). CIM Group is a community-focused real estate and infrastructure owner, operator, lender and developer. CIM Group is headquartered in Los Angeles, CA, with offices in Atlanta, GA, Bethesda, MD, Chicago, IL, Dallas, TX, New York, NY, Orlando, FL, Phoenix, AZ, and Tokyo, Japan. CIM Group also maintains additional offices across the United States, as well as in Korea, Hong Kong and the United Kingdom to support its platform.

Our wholly-owned subsidiary, CIM Urban Partners, L.P. ("CIM Urban"), is party to an Investment Management Agreement with CIM Capital, LLC, an affiliate of CIM Group, which assigned its duties thereunder to its four wholly-owned subsidiaries (CIM Capital Securities Management, LLC, a securities manager, CIM Capital RE Debt Management, LLC, a debt manager, CIM Capital Controlled Company Management, LLC, a controlled company manager, and CIM Capital Real Property Management, LLC, a real property manager) (such entities, collectively, the "Operator"), pursuant to which the Operator provides certain services to CIM Urban.

In addition, we are party to a Master Services Agreement with CIM Service Provider, LLC, an affiliate of CIM Group (the "Administrator"), pursuant to which the Administrator provides, or arranges for other service providers to provide, management and administration services to us and all of our direct and indirect subsidiaries.

CCO Capital, the dealer manager of this offering of Series A1 Preferred Stock, is a registered broker-dealer and an affiliate of the Company that is under common control with the Operator and the Administrator.

We have elected to be taxed as a REIT under the provisions of the Code. To the extent we qualify for taxation as a REIT, we generally will not be subject to a federal corporate income tax on our taxable income that is distributed to our stockholders. We may, however, be subject to certain federal excise taxes and state and local taxes on our income and property. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income taxes at regular corporate rates and will not be able to qualify as a REIT for four subsequent taxable years. In order to remain qualified as a REIT under the Code, we must satisfy various requirements in each taxable year, including, among others, limitations on share ownership, asset diversification, sources of income, and the distribution of at least 90% of our taxable income within the specified time in accordance with the Code.

Our Common Stock trades on Nasdaq, under the ticker symbol "CMCT," and the TASE, under the ticker symbol "CMCT-L." Our Series L Preferred Stock is also traded on Nasdaq and the TASE, in each case under the ticker symbol "CMCTP." Our principal executive offices are located at 17950 Preston Road, Suite 600, Dallas, Texas 75252 and our telephone number is [phone]. Our internet address is https://www.creativemediacommunity.com/. The information contained on our website is not part of this prospectus supplement.

S-2