Company: CMCT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0000908311-25-000067
Chunk: 12

Company: Creative Media & Community Trust Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 2
Chunk 12
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6 %Interest expense$(9,627)$(8,346)$(1,281)15.3 %General and administrative$(712)$(983)$271 (27.6)%Transaction-related costs$(803)$(135)$(668)NM*Depreciation and amortization$(6,264)$(6,456)$192 (3.0)%Loss on early extinguishment of debt$(88)$— $(88)N/AImpairment of real estate$(221)$— $(221)N/AProvision for income taxes$(158)$(288)$130 NM*______________________

(*)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 $11.9 million for the three months ended June 30, 2025, compared to $14.1 million for the three months ended June 30, 2024. The decrease was primarily due to a decrease in rental revenues at an office property in Oakland, California as a result of lower occupancy, partially offset by an increase in rental revenues at an office property in Beverly Hills, California as a result of increased occupancy and rental rates. 

Hotel Revenue: Hotel revenue decreased to $11.6 million for the three months ended June 30, 2025, compared to $12.2 million for the three months ended June 30, 2024. The decrease was due to a decrease in food and beverage sale revenues for the three months ended June 30, 2025 compared to the three months ended June 30, 2024.

Multifamily Revenue: Multifamily revenue was $3.9 million for the three months ended June 30, 2025, compared to $5.4 million for the three months ended June 30, 2024. The decrease was attributed to lower rental revenues at our multifamily 

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properties due to decreases in occupancy and monthly rent per occupied unit, net of rent concessions, for the three months ended June 30, 2025 compared to the three months ended June 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 $2.1 million for the three months ended June 30, 2025, compared to $