Company: CMCT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0000908311-25-000096
Chunk: 130

Company: Creative Media & Community Trust Corp
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 130
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olidated Office Entities: The loss from our Unconsolidated Joint Ventures included in office segment net operating income decreased to a loss of $382,000 for the nine months ended September 30, 2025, compared to income of $487,000 for the nine months ended September 30, 2024. The decrease was primarily due to a decrease in unrealized gain recognized on the value of real estate at our unconsolidated office entities recognized during the nine months ended September 30, 2025.  

Loss From Unconsolidated Multifamily Entities: The loss from our Unconsolidated Joint Venture included in the multifamily segment was $1.9 million for the nine months ended September 30, 2025, compared to a loss of $929,000 for the nine months ended September 30, 2024. The increase was primarily due to increases in the net unrealized loss recognized on the value of real estate at the unconsolidated multifamily entities included in our multifamily segment during the nine months ended September 30, 2025. 

Interest and Other Income: Interest and other income, which has not been allocated to our operating segments, decreased to $321,000 for the nine months ended September 30, 2025, compared to $472,000 for the nine months ended September 30, 2024. The decrease was primarily related to a decrease in interest earned on money market accounts during the nine months ended September 30, 2025. 

Expenses

Office Expenses: Office expenses decreased to $19.4 million for the nine months ended September 30, 2025, compared to $20.8 million for the nine months ended September 30, 2024. The decrease was primarily due to lower operating expenses at an office property in Oakland, California resulting from lower occupancy, as well as lower operating expenses at an office property in Beverly Hills, California as result of property tax refunds received during nine months ended September 30, 2025, partially offset by increased property taxes at an office property in Austin, Texas during the nine months ended September 30, 2025. 

Hotel Expenses: Hotel expenses were $22.2 million for the nine months ended September 30, 2025, compared to $21.8 million for the nine months ended September 30, 2024. The increase is due to increased occupancy during the nine months ended September 30, 2025 compared