Company: CMCT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0000908311-25-000067
Chunk: 123

Company: Creative Media & Community Trust Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 123
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30, 2025, compared to a loss of $524,000 for the six months ended June 30, 2024. The increase was primarily due to an increase in the unrealized loss recognized on the value of real estate at the Unconsolidated Joint Venture included in our multifamily segment during the six months ended June 30, 2025. 

Interest and Other Income: Interest and other income, which has not been allocated to our operating segments, decreased to $234,000 for the six months ended June 30, 2025, compared to $314,000 for the six months ended June 30, 2024. The decrease was primarily related to a decrease in interest earned on money market accounts during the six months ended June 30, 2025. 

Expenses

Office Expenses: Office expenses decreased to $12.5 million for the six months ended June 30, 2025, compared to $13.3 million for the six months ended June 30, 2024. The decrease was primarily due to lower operating expenses at an office property in Oakland, California as a result of lower utilities and security expenses and property management fees, as well as lower operating expenses at an office property in Beverly Hills, California as result of property tax refunds received during the six months ended June 30, 2025. 

Hotel Expenses: Hotel expenses were $15.5 million for the six months ended June 30, 2025, generally consistent with $15.6 million for the six months ended June 30, 2024.

Multifamily Expenses: Multifamily expenses increased to $6.7 million for the six months ended June 30, 2025, compared to $6.5 million for the six months ended June 30, 2024. The increase was primarily attributable to higher repairs and maintenance and cleaning expenses at a multifamily property in Oakland, California during the six months ended June 30, 2025 compared to the six months ended June 30, 2024.

Lending Expenses: Lending expenses represent expenses from our lending subsidiaries, including interest expense, general and administrative expenses and fees to related parties. Lending expenses were $3.9 million for the six months ended June 30, 2025, compared with expenses of $3.7 million for the six months ended June 30, 2024. The increase was primarily due to an increase in CECL.

Asset Management and