Michael Ashner led Winthrop Realty Partners Joins Lionbridge / Robotti 13D Group

Michael Ashner led Winthrop Realty Partners Joins Lionbridge / Robotti 13D Group
- Files Preliminary Proxy Statement and Issues Letter to Stockholders
- Highlights Plan to Transition Operations of CMCT to Winthrop at Over 60% Cost Savings as Newly Elected Board Studies Best Path Forward for Stockholders
- Concerned CMCT's Decision to Delay Annual Meeting is an Attempt to Frustrate Stockholder Vote
- Urges Stockholders to Support Highly Qualified Slate of Independent Director Nominees
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NEW YORK, May 25, 2021 /PRNewswire/ -- Lionbridge Capital I, LP and its affiliates (collectively, "Lionbridge") and The Ravenswood Investment Company L.P. and its affiliates (collectively "Robotti") (Lionbridge and Robotti referred to herein, collectively, as the "Nominating Stockholders," "we," or the "group") are pleased to announce that Winthrop Realty Partners, L.P. (together with its affiliates, including Winthrop Capital Advisors LLC and First Winthrop Corp., collectively "Winthrop"), a vertically integrated real estate company led by Michael L. Ashner, has joined them in their effort to elect five highly-qualified independent directors to the board of CIM Commercial Trust Corporation ("CMCT" or the "Company").  Winthrop also disclosed that it has purchased 148,976 shares of CMCT in the open market. Lionbridge, Robotti and Winthrop together own 6% of the outstanding shares of CMCT and today the Nominating Stockholders filed preliminary proxy materials with the Securities and Exchange Commission (the "SEC") in connection with the 2021 Annual Meeting of Stockholders (the "Annual Meeting").

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