Company: CMCT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0000908311-25-000096
Chunk: 129

Company: Creative Media & Community Trust Corp
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 129
---
%Loss on early extinguishment of debt$(88)$— $(88)N/AImpairment of real estate$(221)$— $(221)N/AGain on sale of real estate$679 $— $679 N/AProvision for income taxes$(353)$(573)$220 (38.4)%______________________

(*)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 $37.4 million for the nine months ended September 30, 2025, compared to $42.5 million for the nine months ended September 30, 2024. The decrease was primarily due to a decrease in rental revenues at office properties in Oakland, California, Los Angeles, California, and San Francisco, California as a result of lower occupancies, partially offset by an increase in rental revenues at office properties in Beverly Hills, California and Austin, Texas as a result of increased occupancy and rental rates. 

Hotel Revenue: Hotel revenue was $31.9 million for the nine months ended September 30, 2025, compared to $31.2 million for the nine months ended September 30, 2024. The increase was primarily due to an increase in occupancy and average daily rate during the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024.

54

Multifamily Revenue: Multifamily revenue was $11.9 million for the nine months ended September 30, 2025, compared to $15.0 million for the nine months ended September 30, 2024. The decrease was attributed to lower occupancy and decreased monthly rent per occupied unit, net of rent concessions during the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024.

Lending Revenue: Lending revenue represents revenue from our lending subsidiaries, including interest income on loans and other loan-related fee income. Lending revenue was $6.7 million for the nine months ended September 30, 2025, compared to $7.9 million for the nine months ended September 30, 2024. The decrease was primarily due to a decrease in interest income due to loan payoffs and a decrease in interest rates as well as loans funded.  

(Loss) Income From Uncons