Company: CMCT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0000908311-25-000096
Chunk: 65

Company: Creative Media & Community Trust Corp
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 65
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 such third party co-investor to satisfy the 1902 Park Mortgage Loan in full. Subsequent to this contribution, the Company’s ownership share of the 1902 Park JV was 25.5%. In addition, the Company and the 1902 Park JV Partner will be receiving an ongoing management fee from such third party co-investor in connection with its co-investment in 1902 Park JV. 1015 N Mansfield Avenue— In October, 2023, the Company and a co-investor affiliated with CIM Group (the “1015 N Mansfield JV Partner”) acquired from an unrelated third party a 100% fee-simple interest in a plot of land located in the Sycamore media district of Los Angeles, California for a gross purchase price of $18.0 million (excluding transaction costs) (the “1015 N Mansfield JV”). The property has a site area of approximately 44,141 square feet and contains a parking garage that has been leased to a third-party tenant. The site is being evaluated for different creative office or other commercial space development options and was in pre-development phase as the Company has not finalized the formal development plan for the property. The Company owns 28.8% of the 1015 N Mansfield JV.

The Company recorded a loss of $697,000 and $2.3 million related to its investment in the Unconsolidated Joint Ventures during the three and nine months ended September 30, 2025, respectively, and a loss of $1.2 million and $442,000 during the three and nine months ended September 30, 2024, respectively. 

5. LOANS RECEIVABLE Loans receivable consist of the following (in thousands): September 30, 2025December 31, 2024SBA 7(a) loans receivable, subject to credit risk$22,170 $19,306 SBA 7(a) loans receivable, subject to loan-backed notes28,846 34,930 SBA 7(a) loans receivable, subject to secured borrowings1,343 1,383 SBA 7(a) loans receivable, held for sale770 1,494 Loans receivable53,129 57,113 Deferred capitalized costs, net1,005 1,129 Current expected credit losses(2,617)(2,032)Loans receivable, net$51,