Company: CMCT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0000908311-25-000096
Chunk: 232

Company: Creative Media & Community Trust Corp
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 232
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 million for the three 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 From Unconsolidated Office Entities: The loss from our Unconsolidated Joint Ventures included in office segment net operating income decreased to a loss of $528,000 for the three months ended September 30, 2025, compared to a loss of $834,000 for the three months ended September 30, 2024. The decrease was primarily due to a decrease in unrealized loss recognized on the value of real estate at an unconsolidated office entity in Los Angeles, California recognized during the three months ended September 30, 2025 compared to the three months ended September 30, 2024. 

Loss From Unconsolidated Multifamily Entities: The loss from our Unconsolidated Joint Ventures included in the multifamily segment net operating was a loss of $169,000 for the three months ended September 30, 2025, compared to a loss of $405,000 for the three months ended September 30, 2024. The decrease was primarily due to decreases in unrealized losses recognized on the value of real estate at our unconsolidated multifamily entities recognized during the three months ended September 30, 2025 compared to the three months ended September 30, 2024.

Interest and Other Income: Interest and other income, which has not been allocated to our operating segments, was $87,000 for the three months ended September 30, 2025, a decline from $158,000 for the three months ended September 30, 2024 driven by a decrease in interest earned from money market accounts.

Expenses

Office Expenses: Office expenses decreased to $6.9 million for the three months ended September 30, 2025, compared to $7.6 million for the three months ended September 30, 2024. The decrease is mainly due to lower operating expenses at an office property in Oakland, California as a result of lower occupancy, partially offset by an increase in real estate taxes at an office property in Austin, Texas. 

Hotel Expenses: Hotel expenses increased to $6.7 million for the three months ended September 30, 2025, compared to $6.2 million for the three months ended September 30, 2024. The increase was