Company: CMCT
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0000908311-25-000017
Chunk: 196

Company: Creative Media & Community Trust Corp
Filing Date: 2025-03-07
Form: 10-K
Item: Item 8
Chunk 196
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 used in the Company’s undiscounted model relating to rental rates, lease-up period, growth rates, estimated holding period, capital expenditures and terminal capitalization rates were consistent with evidence obtained in other areas of the audit, including actual historical results and external market information.

•With the assistance of our fair value specialists, we evaluated the inputs included in the undiscounted cash flow analysis for our selected office and multifamily properties, including estimated rental rates, lease-up periods, growth rates, holding period, capital expenditures and terminal capitalization rates by (1) evaluating the source of information and assumptions used by management (2) comparing the inputs included in the undiscounted cash flow analysis to market data and (3) testing the mathematical accuracy of the undiscounted cash flow analysis.  

/s/ Deloitte & Touche LLP

Tempe, Arizona  

March 7, 2025  

We have served as the Company’s auditor since 2020.

F-3

CREATIVE MEDIA & COMMUNITY TRUST CORPORATION AND SUBSIDIARIES

Consolidated Balance Sheets

(In thousands, except share and per share amounts)

December 31,20242023ASSETSInvestments in real estate, net$709,194 $704,762 Investments in unconsolidated entities33,677 33,505 Cash and cash equivalents20,262 19,290 Restricted cash32,606 24,938 Loans receivable, net (Note 5)56,210 57,005 Accounts receivable, net4,345 5,347 Deferred rent receivable and charges, net19,896 28,222 Other intangible assets, net3,568 3,948 Other assets9,797 14,183 TOTAL ASSETS$889,555 $891,200 LIABILITIES, REDEEMABLE PREFERRED STOCK, AND EQUITYLIABILITIES:Debt, net$505,732 $471,561 Accounts payable and accrued expenses32,204 26,426 Due to related parties14,068 3,463 Other liabilities10,488 12,981 Total liabilities562,492 514,431 COMMITMENTS AND CONTINGENCIES (Note 15)REDEEMABLE PREFERRED STOCK: Series A1 cumulative redeemable preferred stock, $0.001 par value; 25,045,401 and 27,904,974 shares authorized as of December