Company: CMCT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0000908311-25-000096
Chunk: 21

Company: Creative Media & Community Trust Corp
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 2
Chunk 21
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 expenses were $5.8 million for the nine months ended September 30, 2025, compared with expenses of $5.7 million for the nine months ended September 30, 2024. The increase was primarily due to an increase in CECL and an increase legal, accounting, and tax fees, partially offset by a decrease in interest expense due to loan paydowns. 

Asset Management and Other Fees to Related Parties: Asset management fees and other fees to related parties, which have not been allocated to our operating segments, decreased to $1.0 million for the nine months ended September 30, 2025, compared to $1.3 million for the nine months ended September 30, 2024. The decrease was a result of a reduction in asset management fees related to a decrease in our net asset value, primarily resulting from a reduction in the fair value of our investments in real estate as of the end of 2024.

Expense Reimbursements to Related Parties—Corporate: The Administrator receives compensation and/or reimbursement for performing certain services for the Company and its subsidiaries. Expense reimbursements to related parties-corporate were $2.7 million for the nine months ended September 30, 2025, compared to $1.8 million for the nine months 

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ended September 30, 2024, with the increase primarily due to an increase in expense allocation related to activities at our lending division as well as an increase in legal services. 

Interest Expense: Interest expense, which has not been allocated to our operating segments, increased to $28.4 million for the nine months ended September 30, 2025, compared to $25.2 million for the nine months ended September 30, 2024. The increase was primarily attributable to a higher average outstanding principal balance on our debt as a result of new mortgage loans closed during the fourth quarter of 2024 and first and second quarters of 2025, partially offset by paydowns on our 2022 Credit Facility as well as one of our mortgage loans.

General and Administrative Expenses: General and administrative expenses, which have not been allocated to our operating segments, were $3.1 million for the nine months ended September 30, 2025, compared to $3.6 million for the nine months ended September 30, 2024. The decrease is primarily attributable to a decrease in accounting and tax preparation fees during the nine months ended September 30, 2025.