Company: CMCT
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000908311-25-000038
Chunk: 149

Company: Creative Media & Community Trust Corp
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 8
Chunk 149
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,573 $17,978 $52,529 Plus: SBA 7(a) loans receivable, subject to secured borrowings (1)1,371 Plus: Deferred capitalized costs, net1,070 Less: Current expected credit losses (2,071)Plus: Held for sale guaranteed portion140 Total loans receivable, net$53,039 Weighted average risk rating1.4____________________(1)The Company does not assign a risk rating to its SBA 7(a) loans receivable that are subject to secured borrowings or the government guaranteed portion of loans held for sale. The Company has determined there is no credit risk associated with these loans since the SBA has guaranteed payment of the principal.Other

As of March 31, 2025 and December 31, 2024, 99.4% and 99.5%, respectively, of the Company’s loans subject to credit risk were concentrated in the hospitality industry. As of March 31, 2025 and December 31, 2024, 95.2% and 92.3%, respectively, of the Company’s loans subject to credit risk were current. The Company classifies loans with negative characteristics in substandard categories ranging from special mention to doubtful. As of March 31, 2025 and December 31, 2024, $3.9 million and $4.8 million, respectively, of loans subject to credit risk were classified in substandard categories. 

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Table of ContentsCREATIVE MEDIA & COMMUNITY TRUST CORPORATION AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTSMarch 31, 2025 (Unaudited) – (Continued)

6. OTHER INTANGIBLE ASSETS AND LIABILITIESA schedule of the Company’s intangible assets and liabilities and related accumulated amortization and accretion as of March 31, 2025 and December 31, 2024 is as follows (in thousands):March 31, 2025December 31, 2024Intangible assets:Acquired in-place leases, net of accumulated amortization of $2,890 and $5,195, respectively, with an average useful life of 3 and 6 years, respectively.$531 $610 Acquired above-market leases, net of accumulated amortization of $37 and $36, respectively, with an average useful life of 0 and 7 years, respectively.—