Company: CMCT
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000908311-25-000038
Chunk: 185

Company: Creative Media & Community Trust Corp
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 8
Chunk 185
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 attributable to the Company for the three months ended March 31, 2025 and 2024 is as follows (in thousands): Three Months Ended March 31, 20252024Total segment net operating income$11,755 $13,633 Interest and other income91 144 Asset management and other fees to related parties(360)(394)Expense reimbursements to related parties—corporate(626)(605)Interest expense(9,184)(8,057)General and administrative(1,241)(1,188)Transaction-related costs(26)(690)Depreciation and amortization(6,560)(6,478)Loss before provision for income taxes(6,151)(3,635)Provision for income taxes(121)(270)Net loss(6,272)(3,905)Net loss attributable to non-controlling interests158 175 Net loss attributable to the Company$(6,114)$(3,730)The condensed assets for each of the segments as of March 31, 2025 and December 31, 2024 are as follows (in thousands): March 31, 2025December 31, 2024Condensed assets:  Office (1)$417,243 $421,438 Hotel109,971 108,963 Multifamily (1)277,449 279,308 Lending70,392 71,192 Non-segment assets7,288 8,654 Total assets$882,343 $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 March 31, 2025 and December 31, 2024 are included in with Multifamily. 

18. SUBSEQUENT EVENTS

On April 3, 2025, the Company entered into a $35.5 million first lien mortgage loan secured by a first priority deed of trust and security agreement on the Company’s fee simple interest in its office property at 3601 S Congress Avenue in Austin, Texas. In connection with entry into such mortgage loan, the Company repaid in full the outstanding obligations under the