Company: CMCT
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0000908311-25-000017
Chunk: 139

Company: Creative Media & Community Trust Corp
Filing Date: 2025-03-07
Form: 10-K
Item: Item 2
Chunk 139
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 provide optionality for future multifamily development.

(6)CMCT and a CIM-managed separate account purchased the property in February 2022 through a joint venture. CMCT owns approximately 44% of the property. The amounts shown in the table represent 100% of the property. 

(7)2 Kaiser Plaza Parking Lot is a 44,642 square foot parcel of land currently being used as a surface parking lot. We are entitled to develop an office building with a maximum of 800,000 rentable square feet. Alternatively, we are also evaluating a multifamily development.

(8)The Company owns approximately 29% of the property. The property has a site area of approximately 44,141 square feet and currently contains a parking garage which is being leased to a third party. The site is being evaluated for different development options, including creative office space or other commercial space. 

(9)Giving effect to abatements, net annualized rent per occupied square foot for the total portfolio was $59.93. 

Multifamily Portfolio Detail by Classification, Address, Market, and Submarket as of December 31, 2024Classification / Market / AddressSub-MarketUnits% OccupiedAnnualized Rent (in thousands)Monthly Rent Per Occupied Unit (1) (10)Consolidated Multifamily PortfolioOakland, CAChannel HouseJack London District333 89.5 %$9,373 $2,621 1150 ClayDowntown288 85.1 %$7,172 $2,439 Total Consolidated Multifamily Portfolio621 87.4 %$16,545 $2,539 Unconsolidated Multifamily PortfolioLos Angeles, CA1902 Park Avenue - 25.5% (2)Echo Park75 88.0 %$1,482 $1,871 701 S Hudson - 20% (3)Mid-Wilshire68 22.1 %$451 $2,507 Total Unconsolidated Multifamily Portfolio143 56.6 %$1,933 $1,988 Total Multifamily Portfolio 764 81.7 %$18,478 $2,468 Total Multifamily Portfolio - CMCT Share of Annualized Rent$17,013 Development Pipeline PropertiesLos Angeles, CA3101 S. Western Avenue (4)Jefferson ParkN/AN/AN