Company: CMCT
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000908311-25-000038
Chunk: 184

Company: Creative Media & Community Trust Corp
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 8
Chunk 184
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,091 4,749 Property expenses:Operating3,503 3,337 General and administrative86 52 Total property expenses3,589 3,389 Loss from unconsolidated entity(1,122)(443)Segment net operating (loss) income—multifamily(620)917 Lending:Revenues2,378 2,640 Lending expenses: Interest expense574 920 Expense reimbursements to related parties—lending segment659 563 General and administrative555 368 Total lending expenses1,788 1,851 Segment net operating income—lending590 789 Total segment net operating income$11,755 $13,633 (1)Beginning in the quarter ended December 31, 2024, the Company reclassified its investment in the 4750 Wilshire JV to include income from the investment in the multifamily segment from its previous classification in the office segment. This change corresponded with the 4750 Wilshire JV’s substantial completion of the 4750 Wilshire Project. In the above table, the Company’s income earned from its investment in the 4750 Wilshire JV prior to October 1, 2024 is included within the office segment and its income earned from its investment in the 4750 Wilshire JV subsequent to October 1, 2024 is included within the multifamily segment. In addition, 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, activity related to 4750 Wilshire Boulevard (Backlot) occurring prior to October 1, 2024 is included within the office segment and such activity subsequent to October 1, 2024 is included within the multifamily segment. In the above table, activity related to both the 1910 Sunset JV and 1015 N Mansfield JV are included within the office segment, while activity related to the 1902 Park JV is included in the multifamily segment. 

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Table of ContentsCREATIVE MEDIA & COMMUNITY TRUST CORPORATION AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTSMarch 31, 2025 (Unaudited) – (Continued)

A reconciliation of segment net operating income to net income