Company: CMCT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0000908311-25-000096
Chunk: 109

Company: Creative Media & Community Trust Corp
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 109
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 2024 are as follows (in thousands): September 30, 2025December 31, 2024Condensed assets:  Office (1)$407,875 $421,438 Hotel114,676 108,963 Multifamily (1)273,938 279,308 Lending67,427 71,192 Non-segment assets7,910 8,654 Total assets$871,826 $889,555 

(1)Beginning in the quarter ended December 31, 2024, the Company reclassified its consolidated property located at 4750 Wilshire Boulevard (Backlot) in Los Angeles, California to include the property in the multifamily segment, from its previous classification in the office segment. In the above table, the assets related to 4750 Wilshire Boulevard (Backlot) as of September 30, 2025 and December 31, 2024 are included in with Multifamily. 

18. SUBSEQUENT EVENTSOn November 6, 2025, the Company and First Western SBLC, Inc., a Florida corporation and an indirect wholly owned subsidiary of the Company (“First Western”) and which represents the Company’s lending business which originates loans under the SBA 7(a) Program, entered into a membership interest purchase agreement (the “Membership Interest Purchase Agreement”), with PG FR Holding, LLC, a Delaware limited liability company (the “Buyer”). Pursuant to the Membership Interest Purchase Agreement, and upon the terms and subject to the conditions therein, Buyer will purchase from the Company all of the issued and outstanding equity interests of First Western (the “Transactions”). The Company estimates that, pursuant to the Membership Interest Purchase Agreement and based on information related to First Western’s assets and other matters as of 

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Table of ContentsCREATIVE MEDIA & COMMUNITY TRUST CORPORATION AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTSSeptember 30, 2025 (Unaudited) – (Continued)

September 30, 2025, the purchase price will be approximately $44 million (which is net of the outstanding balance of SBA 7(a) Loan-Backed Notes), subject to adjustment and updated information through the closing (the “Closing”) of the Transactions. Upon the Closing and giving effect to the payment of other debt, transaction expenses and other matters, the Transactions are expected to yield net cash proceeds to the Company of approximately