Company: CMCT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0000908311-25-000067
Chunk: 18

Company: Creative Media & Community Trust Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 2
Chunk 18
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ated EntitiesOffice$146 $1,321 $(1,175)(88.9)%Multifamily$(1,734)$(524)$(1,210)NM*Non-Segment Revenue and Expenses:Interest and other income$234 $314 $(80)(25.5)%Asset management and other fees to related parties$(709)$(819)$110 (13.4)%Expense reimbursements to related parties - corporate$(1,517)$(1,217)$(300)24.7 %Interest expense$(18,811)$(16,403)$(2,408)14.7 %General and administrative$(1,953)$(2,171)$218 (10.0)%Transaction-related costs$(829)$(825)$(4)0.5 %Depreciation and amortization$(12,824)$(12,934)$110 (0.9)%Loss on early extinguishment of debt$(88)$— $(88)N/AImpairment of real estate$(221)$— $(221)N/AProvision for income taxes$(279)$(558)$279 (50.0)%______________________

(*)Percentage changes in excess of 100% are deemed to be not meaningful (“NM”)

Revenues

Office Revenue: Office revenue includes rental revenue, expense reimbursements and lease termination income from office properties. Office revenue decreased to $24.9 million for the six months ended June 30, 2025, compared to $28.7 million for the six months ended June 30, 2024. The decrease was primarily due to a decrease in rental revenues at an office property in Oakland, California as a result of lower occupancy, partially offset by an increase in rental revenues at an office property in Beverly Hills, California as a result of increased occupancy and rental rates. 

Hotel Revenue: Hotel revenue was $24.3 million for the six months ended June 30, 2025, compared to $24.0 million for the six months ended June 30, 2024. The increase was primarily due to an increase in average daily rate during the six months ended June 30, 2025 compared to the six months ended June 30, 2024.

Multifamily Revenue: Multifamily revenue was $8.0 million for the six months ended June 30, 2025, compared to $10.2 million for the six months ended June 30,