Company: CMCT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0000908311-25-000067
Chunk: 58

Company: Creative Media & Community Trust Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 58
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OLIDATED ENTITIESThe following table details the Company’s equity method investments in its Unconsolidated Joint Ventures. See Note 2 - Basis of Presentation and Summary of Significant Accounting Policies (dollars in thousands):Ownership InterestCarrying ValueJoint VentureAsset TypeLocationAcquisition DateJune 30, 2025June 30, 2025December 31, 20241910 Sunset Boulevard (1)Office / Multifamily (Development)Los Angeles, CAFebruary 11, 202244.2%$13,792 $12,898 4750 Wilshire Boulevard (2)Office / MultifamilyLos Angeles, CAFebruary 17, 202320.0%6,818 8,622 1902 Park Avenue (3)MultifamilyLos Angeles, CAFebruary 28, 202325.5%5,799 5,730 1015 N Mansfield Avenue (4)Office (Development)Los Angeles, CAOctober 10, 202328.8%6,889 6,427 Total investments in unconsolidated entities$33,298 $33,677 ______________________(1)1910 Sunset Boulevard is an office building with 105,064 square feet of office space and 2,760 square feet of retail space. The 1910 Sunset JV (defined below). The 1910 Sunset JV has begun the 1915 Park Project (defined below) to build 36 multifamily units on the 1915 Park Avenue land parcel adjacent to the office building.(2)4750 Wilshire Boulevard is a three-story office building with 30,335 square feet of office space located on the first floor. The remainder of the building was substantially converted into 68 for-lease multifamily units in September 2024.(3)1902 Park Avenue is a 75-unit four-story multifamily building.(4)1015 N Mansfield Avenue is an office building with a 44,141 square foot site area and a parking garage. The site is being evaluated for different development options, including creative office or other commercial space. As of June 30, 2025, this property was in pre-development phase and the Company has not finalized the formal development plan for the property.1910 Sunset Boulevard— In February 2022, the Company invested in an Unconsolidated Joint Venture (the “1910 Sunset JV”) with a CIM-managed separate account (the “1910 Sunset JV Partner)