Company: CMCT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0000908311-25-000067
Chunk: 170

Company: Creative Media & Community Trust Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 170
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 in-place leases, net of accumulated amortization of $1,812 and $5,195, respectively, with an average useful life of 2 and 6 years, respectively.$501 $610 Acquired above-market leases, net of accumulated amortization of $0 and $36, respectively, with an average useful life of 0 and 7 years, respectively.— 1 Trade name and license2,957 2,957 Total intangible assets, net$3,458 $3,568 Amortization of the acquired above-market leases is recorded as a reduction to rental and other property income, and amortization of the acquired in-place leases is included in depreciation and amortization in the accompanying consolidated statements of operations. Amortization of the acquired below-market leases is recorded as an increase to rental and other property income in the accompanying consolidated statements of operations. During the three and six months ended June 30, 2025 and 2024, the Company recognized amortization related to its intangible assets and liabilities as follows (in thousands):Three Months Ended June 30,Six Months Ended June 30,2025202420252024Acquired above-market lease amortization$— $1 $1 $3 Acquired in-place lease amortization$30 $93 $109 $187 A schedule of future amortization and accretion of acquired intangible assets and liabilities as of June 30, 2025, is as follows (in thousands): AssetsYears Ending December 31,AcquiredIn-PlaceLeases2025 (Six months ending December 31, 2025)$61 2026123 2027123 2028122 202972 Thereafter— $501 

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

7. DEBTThe following table summarizes the debt balances as of June 30, 2025 and December 31, 2024, and the debt activity for the six months ended June 30, 2025 (in thousands):During the Six Months Ended June 30, 2025Balances as of December 31, 2024Debt Issuances & AssumptionsRepayments (1)Accretion & (Amortization)Balances as of